{quote} Me too! May the force be with you.
- #3,464
- Edited 4:00am Jun 2, 2015 3:46am | Edited 4:00am
- Joined Feb 2014 | Status: Trader | 1,796 Posts
Price alert on present advance from 14th April low as 'near' completion, thus completing a 4 mths correction [iv].
Looking for setup with downside potential as this pair begins resuming downtrend.
Looking for setup with downside potential as this pair begins resuming downtrend.
Elliott Wave for optimum entry, exit and risk management of trades
The pair is currently testing the highs from January.
Secured a little over 100 pips on the trade. Might be too tight with the stop... With a bigger account and bigger trades, this is the point where I would cash in part of the position. Setting the stop to BE and letting destiny having its toll with the rest
Secured a little over 100 pips on the trade. Might be too tight with the stop... With a bigger account and bigger trades, this is the point where I would cash in part of the position. Setting the stop to BE and letting destiny having its toll with the rest
Do not let the cost of being wrong, exceed the prize of beeing right
The pair is currently testing the highs from January. Secured a little over 100 pips on the trade. Might be too tight with the stop... With a bigger account and bigger trades, this is the point where I would cash in part of the position. Setting the stop to BE and letting destiny having its toll with the rest
.I saw the possibility of it playing out this way but if i would have MADE THE BUY it would have been outside my system...which leads to me taking more losses than i would like ... that's what i meant by not having enough balls to jump in the water with you guys but congrats.
{quote} You guys were on the money with that call..
. Still, I had a good feeling about the trade. All charts with pairs involving EUR, showed bullish signs for the EUR for me.I was considering opening long EUR position against AUD as well. Still as you stated, it is all about the willingness to take the risk involved. I like to keep it at an acceptable level, so I settled for only the EURJPY trade..
Best of luck.
Do not let the cost of being wrong, exceed the prize of beeing right
{quote} Need to back up the talk with action, that is placing money on the table
- #3,469
- Jun 3, 2015 11:35am Jun 3, 2015 11:35am
- Joined Feb 2014 | Status: Trader | 1,796 Posts
This pair is extending retracement of this correction [iv] much more than expected - the next level of attention is for it to move well above 140.67.
Elliott Wave for optimum entry, exit and risk management of trades
- #3,472
- Jun 3, 2015 11:29pm Jun 3, 2015 11:29pm
{quote} What I usually do in such a case (if I think EUR will be bullish against all currencies), is to not open a 1 lot EURJPY trade, but a 0.25 EURAUD, 0.25 EURUSD, 0.25 EURJPY, 0.25 EURNZD. Spreads risk a lot better.
Still, I try to pick the 1-2 weakest counterpart currencies for the trade. As well as having a look at the economical calendar for upcoming events. For me it is easier to maintain the positions with fewer trades. Easier to maintain the overall picture.
I am thinking about increasing the size of the account. I am trying to not risk more than 1 % on any trade. With a bigger account I can take positions with larger lotsize. This enables the option to scale down positions.
This is a must for me and my psychological features when trading. After around 100 pips in profit, I can close parts of the position. Securing profit. Set the SL to BE and let time do the rest. This is a way for me to handle the FEAR and not be stressed when trading.
This will increase the earnings over time
Do not let the cost of being wrong, exceed the prize of beeing right
