had the same trade! I would say because of the hard resistance there. already touched 2 hours ago and yesterday!
- #442
- Jan 29, 2015 1:39am Jan 29, 2015 1:39am
- Joined Aug 2010 | Status: absolute beginner | 5,464 Posts
trading is like dancing, don't think and just listen to the music!
- #446
- Jan 29, 2015 1:42am Jan 29, 2015 1:42am
- Joined Aug 2010 | Status: absolute beginner | 5,464 Posts
trading is like dancing, don't think and just listen to the music!
- #450
- Jan 29, 2015 1:50am Jan 29, 2015 1:50am
- Joined Jun 2014 | Status: Invisible | 1,472 Posts
FX-tycoon: Apart from some previous resistance and a nearby pivot and RN no idea,
mine went to TP.
mine went to TP.
- #453
- Jan 29, 2015 1:53am Jan 29, 2015 1:53am
- Joined Feb 2014 | Status: Trader | 1,133 Posts
{quote} i could not find a reason at this stage, where you closed the position. i am curious;-) i guess its due to money management so late in the day?
- #455
- Jan 29, 2015 1:54am Jan 29, 2015 1:54am
- Joined Feb 2014 | Status: Trader | 1,133 Posts
{quote} FEAR
... humbly.
- #457
- Jan 29, 2015 2:07am Jan 29, 2015 2:07am
- Joined Jun 2014 | Status: Invisible | 1,472 Posts
{quote} None of those matter... they all are meant to be broken. They stand concert as much as they get pumpkin crush, lol. Stick to you Plan as you main element.
- #458
- Jan 29, 2015 2:44am Jan 29, 2015 2:44am
- Joined Jun 2014 | Status: Invisible | 1,472 Posts
Another loss on GU, 4pips down till now... 
Fx-Tycoon,
When do you remove your pending orders? Do you remove them after the trade moves against the signal price by more than the stop loss (recent high/low)? Or do you wait to see if it triggers later? In this example, after this signal on GU (marked with a yellow line) the price did not move down 0.7 pips in the next candle, then it moved up above the recent high so it would have stopped out if a market order had been placed at the signal. Then later the price does move down more than 0.7 so that would have triggered if the pending order was not removed, and then this also would have been stopped out.
I have not been using the pending orders and I admit I have been burned a few times including this trade. In my case removing the pending order after the first negative move would have saved me some losses, although I'm sure there are cases where it would prevent a winning trade if you removed the pending order the first time.
Since you have been trading this a long time and I have only been for about a week, I'm sure you would have a better perspective on this, so I look forward to your answer, just as I have all of your posts. You made a couple great calls yesterday (stopping after 1 loss on FOMC day, then saying it would be a good day for liquidity after the FOMC announcement, which it was, lots of winners at that point).
When do you remove your pending orders? Do you remove them after the trade moves against the signal price by more than the stop loss (recent high/low)? Or do you wait to see if it triggers later? In this example, after this signal on GU (marked with a yellow line) the price did not move down 0.7 pips in the next candle, then it moved up above the recent high so it would have stopped out if a market order had been placed at the signal. Then later the price does move down more than 0.7 so that would have triggered if the pending order was not removed, and then this also would have been stopped out.
I have not been using the pending orders and I admit I have been burned a few times including this trade. In my case removing the pending order after the first negative move would have saved me some losses, although I'm sure there are cases where it would prevent a winning trade if you removed the pending order the first time.
Since you have been trading this a long time and I have only been for about a week, I'm sure you would have a better perspective on this, so I look forward to your answer, just as I have all of your posts. You made a couple great calls yesterday (stopping after 1 loss on FOMC day, then saying it would be a good day for liquidity after the FOMC announcement, which it was, lots of winners at that point).