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Highest Open / Lowest Open Trade

  • #281
  • May 16, 2016 11:08am May 16, 2016 11:08am
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Possibility
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #282
  • May 16, 2016 11:09am May 16, 2016 11:09am
USDCHF got stopped out for -9. Should we try again?!
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  • #283
  • May 16, 2016 11:10am May 16, 2016 11:10am
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Textbook.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #284
  • May 16, 2016 11:14am May 16, 2016 11:14am
Quoting TooSlow
{quote} I guess I misread what pair you were trading.
No problem. Just wanted to make sure I hadn't missed something.
  • #285
  • May 16, 2016 11:18am May 16, 2016 11:18am
Quoting Habo
USDCHF got stopped out for -9. Should we try again?! {image}
You didn't move your stop to BE+1?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #286
  • May 16, 2016 11:19am May 16, 2016 11:19am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #287
  • May 16, 2016 11:21am May 16, 2016 11:21am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #288
  • May 16, 2016 11:22am May 16, 2016 11:22am
Visitors:

Please don't hesitate to post charts, comments and questions.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #289
  • May 16, 2016 11:23am May 16, 2016 11:23am
Hit 5 pip stoploss on GU. Should have put it a couple pips higher... would still be in the game.

G/U M1
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  • #290
  • May 16, 2016 11:27am May 16, 2016 11:27am
Quoting tradertron
Hit 5 pip stoploss on GU. Should have put it a couple pips higher... would still be in the game. G/U M1 {image}

I agree. I did that. Just knowing GU. Still does not mean the trade will win. And you had only a tiny loss.
  • #291
  • May 16, 2016 11:32am May 16, 2016 11:32am
Quoting TooSlow
Visitors: Please don't hesitate to post charts, comments and questions.

Here comes that most provocative question a learning trader can ask: Do you stop trading when you have > 5 pips for the day? That means I should have stopped trading after my second trade this morning.
  • #292
  • May 16, 2016 11:34am May 16, 2016 11:34am
Quoting Habo
{quote} Here comes that most provocative question a learning trader can ask: Do you stop trading when you have > 5 pips for the day? That means I should have stopped trading after my second trade this morning.
A better question might be DO YOU STOP TRADING AFTER YOU HAVE GAINED n % or n DOLLARS IN YOUR ACCOUNT?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #293
  • May 16, 2016 11:38am May 16, 2016 11:38am
Quoting tradertron
Hit 5 pip stoploss on GU. Should have put it a couple pips higher... would still be in the game. G/U M1 {image}
++++++++++++++++++++++++++++++++

I believe, in most cases, the SL needs to be Above/Below, High or Low. So, to me, it doesn't matter what the distance is, I simply adjust my trade size, to accommodate, narrow, or wide stops.

GU High is about 7 pips, plus the spread. Had I traded it, my stop would have been approximately 5 pips above the daily high, or right about @ 1.4419. But that's just me!
  • #294
  • May 16, 2016 11:41am May 16, 2016 11:41am
With most of Europe on Bank Holiday, market action is painfully slow.
  • #295
  • May 16, 2016 11:46am May 16, 2016 11:46am
Quoting Habo
{quote} I agree. I did that. Just knowing GU. Still does not mean the trade will win. And you had only a tiny loss.
Yeah... usually do that too... especially so close to price. Was looking at other trades setups and got distracted. Never seem to do well looking at too many charts.

Gotta run... will be back for the Asian session though.
  • #296
  • May 16, 2016 11:49am May 16, 2016 11:49am
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Move your stops.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #297
  • May 16, 2016 11:55am May 16, 2016 11:55am
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stopped be+1
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #298
  • May 16, 2016 12:01pm May 16, 2016 12:01pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #299
  • May 16, 2016 12:01pm May 16, 2016 12:01pm
Quoting TooSlow
{quote} A better question might be DO YOU STOP TRADING AFTER YOU HAVE GAINED n % or n DOLLARS IN YOUR ACCOUNT?
My answer is YES! Now why didn't I is the next question. Today the answer is easy. I would have missed trading along with you guys and learning this awesome method even if I don't walk away with a profit. But in the future this will not work for me. So the time to think about trade and account management is now.
  • #300
  • May 16, 2016 12:07pm May 16, 2016 12:07pm
Yes, Habo.

Everyone reading this thread should read the following:

http://www.tradeciety.com/why-your-m...losing-trader/
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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