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  • #521
  • May 4, 2015 4:46am May 4, 2015 4:46am
Quoting Petr.K
I think now we are on the same Wave or ? :-) Waiting for more Lows to open new ones GBP/Cad 2 trades opened allready {image} {image}
Yupp thats good work! What might be interesting is the Daily highs and lows, those are respected and important.
In those terms E/G for instance is down now, since it broke the last low, and its still below. If we go above that, its a buying situation again, that kind of thing.
Right now im not so interested in ranges and range trading, im looking at what happens as it breaks a former high/low, most important the bank day before. I am measuring how far it goes after and what happens after and so on.

Its very possible there is a "After this its going to go some more" sort of a thing. For instance if E/G moves 15 pip beyond the high/low of the day before, it might be very often it goes another 15 before it stops. The psychological effect would be that people see that its on the move and its away from the high/low very distinctly, so they start piling on.
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  • #522
  • May 4, 2015 4:56am May 4, 2015 4:56am
Quoting yaed
{quote} Yupp thats good work! What might be interesting is the Daily highs and lows, those are respected and important. In those terms E/U for instance is down now, since it broke the last low, and its still below. If we go above that, its a buying situation again, that kind of thing. Right now im not so interested in ranges and range trading, im looking at what happens as it breaks a former high/low, most important the bank day before. I am measuring how far it goes after and what happens after and so on.
Thanks finally i understand it properly i hope

Right now the Gbp/Cad is falling pretty nice i have allready opened third trade and i´m preparing to open second one at GBP/USD
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  • #523
  • May 4, 2015 5:06am May 4, 2015 5:06am
Im thinking about places like these.

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That one is not so bad since it sort of approaches its low somewhat.

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  • #524
  • May 4, 2015 5:16am May 4, 2015 5:16am
I dont know why but i cant use my ETX demo account and i cant create a new one. Really strange. Maybe they got some problem with the demo server. I can access my real ETX account though. Anyway, made a new Tickmill demo account.
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  • #525
  • May 4, 2015 6:15am May 4, 2015 6:15am
Quoting Petr.K
{quote} Thanks finally i understand it properly i hope Right now the Gbp/Cad is falling pretty nice i have allready opened third trade and im preparing to open second one at GBP/USD {image} {image}
Well there is the weekend thing that is a bit tricky, but most of the time the weekends just range within the friday high/low so it doesnt matter. Keep up the good work!
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  • #526
  • May 4, 2015 6:24am May 4, 2015 6:24am
Quoting Petr.K
{quote} Thanks finally i understand it properly i hope Right now the Gbp/Cad is falling pretty nice i have allready opened third trade and im preparing to open second one at GBP/USD {image} {image}
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Why? Well if price breaks above that buyers are in control again, and you wouldnt want to be sitting around with a sell then eh? That way you can keep your stops ULTRA tight.
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  • #527
  • May 4, 2015 6:47am May 4, 2015 6:47am
Quoting yaed
{quote} {image} Why? Well if price breaks above that buyers are in control again, and you wouldnt want to be sitting around with a sell then eh? That way you can keep your stops ULTRA tight.
Done thanks for advice
  • #528
  • Edited 11:09am May 4, 2015 10:50am | Edited 11:09am
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  • #529
  • May 4, 2015 11:22am May 4, 2015 11:22am
Not to try to dodge the shit bit, getting right into it i will choose a place of more problematic type.

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  • #530
  • May 5, 2015 1:43am May 5, 2015 1:43am
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  • #531
  • May 5, 2015 1:44am May 5, 2015 1:44am
And again, TPs ARE prone to change. SL is NOT prone to change since its based on what already happend. TP is based on what is happening PA wise AND based on what happend before.

Those TPs are the MAXIMUM i can think in probabilistic terms to get out of today.

I might ADD more sells, it depends on PA.
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  • #532
  • May 5, 2015 2:00am May 5, 2015 2:00am
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  • #533
  • May 5, 2015 2:03am May 5, 2015 2:03am
In my book, thats all a sane person can expect from the break of yesterdays low. The logic of the people still driving it down escapes me. The continued move is more a "random" walk then anything else. The trick is to learn to see the difference between the "random" thing and the stuff that pretty much EVERYBODY is doing, the stuff that removes as much as the "random" as is possible.
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  • #534
  • May 5, 2015 2:09am May 5, 2015 2:09am
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  • #535
  • May 5, 2015 2:16am May 5, 2015 2:16am
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So if i WOULD have sold more where my greed wanted to...
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  • #536
  • May 5, 2015 2:21am May 5, 2015 2:21am
So question is: You can see the whole story as the time of the posts are there. How did i know my greed would get me into trouble? My first answer is i dont know. I dont know exactly but i guess it has come to me with experience. And i tell yah, i dont know ONE SINGLE systematic, repeatable way to trade with fixed SL and TP, ALL pairs included, ALL TFs included, ALL indicators included. At least not for the retailers. Front running EAs is another thing. I mean if you KNOW you are going to buy/sell 10.000 lots, its pretty easy to just sell or buy right before that since you KNOW that the order IS going to move the market somewhat.

So again, all you beginners: No i dont know what TP or SL you are going to have for your trade. It depends on what has happend and what IS happening. And from what i know, if anybody tells you a fixed TP and SL they are most probably full of shit. TP and SL are CALCULATED on all relevant data, its not a PRE-GIVEN fixed number.
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  • #537
  • May 5, 2015 2:25am May 5, 2015 2:25am
yaed,

totally agree with you.
Trust in youreself ans see the things how they are and react on what the market is doing.
Then take youre profit from time to time

Dutchsignals
  • #538
  • May 5, 2015 2:30am May 5, 2015 2:30am
Eu/JPy Short Bit too late but still have a place to fall more
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  • #539
  • May 5, 2015 2:39am May 5, 2015 2:39am
Quoting Petr.K
Eu/JPy Short Bit too late but still have a place to fall more {image}
Well you know every pair has its personality. I have studied that one from time to time over the years, as i have most of usd, eur, jpy, gbp crosses but right now eur/gbp is the one that makes most sense to me. A thing i did do a while ago though is to just enter very small on 5-10 pairs. I just open the chart and make a trade on that pair directly, then the next pair and another trade and so on. If you choose to trade the eur/jpy, i think thats a commitment. Mathematically i dont see any argument to trade many pairs at once since the reward increases just as much as the risk. And the risk is greater with less knowledge.

Think of it this way: The real valuable thing you are investing is time. With time comes knowledge. If you have enough knowledge, at least in theory, then how much money you have is more a function of your knowledge rather then anything else. I mean, if you have a lot of money and little knowledge when you trade, soon you will have no money and only slightly more knowledge. If you have adequate knowledge and little money, soon you will have a lot of money and slightly more knowledge.
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  • #540
  • May 5, 2015 2:44am May 5, 2015 2:44am
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And the smaller the stoploss is, the smaller the risk is, the greater the reward to risk ratio gets.
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