nice of ya FXRay....old buddy
that 184 just has a neat ring to it......and poof.....187 plus
that 184 just has a neat ring to it......and poof.....187 plus
- #11,841
- Sep 16, 2015 10:31am Sep 16, 2015 10:31am
- Joined Nov 2007 | Status: CHART HACKER | 2,454 Posts
- #11,845
- Sep 16, 2015 10:38pm Sep 16, 2015 10:38pm
- Joined Dec 2011 | Status: StealingPips | 1,294 Posts
{quote} Looks like we're getting that squeeze in between the 100sma and 50Fib Fan... Then, we should get a break... I'm hoping on the downside, But The divergence looks good to me Raiders!{image}
EDIT: sorry wrong thread
- #11,846
- Sep 17, 2015 12:37am Sep 17, 2015 12:37am
- Joined Nov 2007 | Status: CHART HACKER | 2,454 Posts
- #11,850
- Sep 17, 2015 7:47am Sep 17, 2015 7:47am
{quote} Gonna give you some advice.. Once I realised this, I stopped losing so much money.. This advice is priceless.. If you can handle it.... are you ready? don't set stops.. If you reeeeeaaaaaallly have to have a stop to protect your account then, find out what the daily average range is, then set your stop outside of this. That way, if something nuts happens you take a loss before you account is emptied. if your trades are well planned and your money management / risk is sound. you don't need to set stops. brokers, Market makers, ECN's liquidity...
{quote} Gonna give you some advice.. Once I realised this, I stopped losing so much money.. This advice is priceless.. If you can handle it.... are you ready? don't set stops.. If you reeeeeaaaaaallly have to have a stop to protect your account then, find out what the daily average range is, then set your stop outside of this. That way, if something nuts happens you take a loss before you account is emptied. if your trades are well planned and your money management / risk is sound. you don't need to set stops. brokers, Market makers, ECN's liquidity...
Yea one of the first things you learn trading fx, (understanding how the commercial, market movers, and retail traders operate) but always set stops, and sometimes you should move it accordingly...
BUT I didn't mind taking a minor loss as my RR ratio was looking good... (if I didn't take a very minor loss I'd also be -50pips after my SL, not good on RR)
My Risk Management strategy is on point as I just move on to the next order, no matter what happens...
BTW, Today is a day they are stop hunting more than anything, ie most people aren't trading till after fed meeting, and a bit tricky to trade, as much doesn't make sense...
Been successful in my tenured endeavors for a while now, anyways
Good luck in your trades though...
{quote} yikes. good advice if you wish to blow your account, but that's my opinion. with that advice note the mention of money mgmt. VERY critical. My advice? spend more time in reading the charts. I am not seeing any real signs of reversal on this pair yet. I am seeing strength to the upside and frankly wouldn't be surprised to see it move back up into the 194 area.
Risk and Money Management are essential to success in this industry...
I'm 5/3 w/l ratio just on this pair this week, did better on my other pairs, but GJ is a pair i've always enjoyed trading and so far doesn't look like it will drop soon, Bc
Equities should climb higher today, but that last trade was a easy choice with the RR ratio, and when I woke up, I was like ehh, we, on the the next one!
- #11,853
- Sep 17, 2015 8:50am Sep 17, 2015 8:50am
{quote} Don't set stops?
Each to their own.. I do set stops, but 2 x the average true range. I use it as a hard stop. I trade charts, if I know I'm wrong, you can always close manually. by setting tight stops, you are suffocating the trade before it breathes.
A question to ask yourself. Where did you 'learn' to trade? free information on the internet maybe? and there motives are pure?
eitherway, my advice is, don't set stops. try it on a demo account for a week, mirror your live account with the stops and compare the difference.
Personally, for me. I lose less without stops. everyone is different
- #11,854
- Sep 17, 2015 8:53am Sep 17, 2015 8:53am
{quote} Much better is to be patient and wait until all the stops have been hit and the price returns and closes under/over a resistance/support (depending on scenario). Glad to see you still around and progressing Talzus
Thanks Man,
Been having fun since I came back, yesterdays bull run just paid for a nice holiday for me n the mrs! South of France in November! Looking forward to tonight, see what the fed does.
Hows you?
- #11,856
- Edited 11:40am Sep 17, 2015 9:56am | Edited 11:40am
- Joined Feb 2015 | Status: doing ninja shit | 2,077 Posts
- #11,858
- Sep 17, 2015 12:48pm Sep 17, 2015 12:48pm
- Joined Feb 2015 | Status: doing ninja shit | 2,077 Posts
- #11,860
- Sep 17, 2015 1:15pm Sep 17, 2015 1:15pm
- Joined Feb 2015 | Status: doing ninja shit | 2,077 Posts
EJ in a bullish pennant. Just bought at the bottom trend line of the it. Give it a look lets see if it breaks up. tight sl just incase EDIT....guess it was supposed to be another flag pattern? anyways bounced hard of the 50 so lets see how it goes {image}