The Wanderings of Tashkent

holding. 180+ pips so far.

Nicely one Tash
I am finished trading for this year.
Have a MERRY CHRISTMAS and HAPPY NEW YEAR

thank you my friend! it is a wise decision to stay out of market until the end of the year.
Merry Christmas and wish you Happy and successful New Year!

2 long positions

one long position (about 40 pips) will hold with SL at BE.

set stop loss to BE. this position will either die at BE or will reach 118. added one more

it is what it is. a closed position

added one more. this is for today.

tashkent@ may i know which trading platform is this one please?

it is fxTrade, Oanda, an online platform which allows trading from any computer through oanda website

thank you tashkent

started EJ shorts from 132.23
holding the UJ shorts

sell EU at 0930 with more sell orders to the upside
also scalp short EG from 7333. will be looking to buy after retracement

not worth it. out

ej did not work. out.

buy gu 1.4836
usdchf buy order filled

both stopped out.
short ej again. this is the main pair i am interested in right now. can't let it slip through fingers. should greatly pay off when right time arrives

ej short.
gu long.

Nice trades tash!

I admire your trading style.... And sweet trades btw, I took the EU short from 1.0980 but exited too soon at 1.0960.

Been lurking for a while now and decided to ask a question if you don't mind.

How do you determine the exits, knowing fully well there may be mini-pools before your main target? What makes that target the target, given that the same reason for entry is same for exit (but smaller blocks exists on the way)?

Thanks

Hi MD, thank you for the kind words.
some say exits are at least as important as entries (sometimes, i think exits are more important than entries). entries identify one thing: your correctness with the direction whereas exits identify everything else such as cutting the loss, cash the profit, running the winners and maximizing the profit etc. So your question is right on spot.
Now, exits are part of the trading style and they reflect trader's whole system. Those trades, if you have noticed are usually intraday positions (hold them from couple of days to couple of weeks). therefore my targets and stop losses are wider. if i have to say a ratio, probably is 1:5.
how do i identify the exits? exit for a losing trade is easy - usually high or low of the previous candle i am trading. but when winning it is little different. in that case, sometimes i simply take profit at the next S/R level, cash the profit and move on to next trade. sometimes i hold onto the winning positions and keep adding at bounce/retracements until i reach the target in my mind or all my positions either hit the SL or die at BE. so basically targets are the S/R and trend channels.
while i am on the trade, i constantly evaluate the market conditions and try to get an idea if anything has changed. in case i smell some unusual activity, then may exit all trades no matter what in loss or in profit.
as you can see there is no simple answer to a very simple question. see market as something that float and in constant change. therefore when we use a rigid approach with fixed rules, they may not work all the time...

PS. the green lines are my target levels for ej shorts. I know, may look like wishful thinking and it may retrace and wipe out my all profits. before the target. but at least i will give a try.