I've just done some more sums, and had a rethink. GBP/JPY stops- 50-60 pips. Certainly no less than 50.
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Quoting TheGreatMilenkoDislikedI've just done some more sums, and had a rethink. GBP/JPY stops- 50-60 pips. Certainly no less than 50.Ignored
Quoting keremoDislikedyes i think so too, i learned my lesson on this one. the funny thing is, as soon as it hit my stop loss at 25 pips, it started coming down within 5 minutes it came to my original place. I just cant believe i left that much money on the table. but this is a learning experience i knew it was going to come down, i trusted the model and all the indicators was showing the trade in my favor but anyways... i am gonna keep on trading and learning.
i havent tried this method on usd/jpy, has anyone tried and had success with it? thanksIgnored
Quoting bagovinoDislikedShaimus,
By the way.... It doesn't get anymore beautiful than this! Check out the JPY move. Clear across the chart. MAJOR PIPS!
Now we are looking for signs of a quick long after the consolidation period... Maybe during the upcoming London session.
B.Ignored
Quoting forexbunnyDislikedHi Guys,
iam a newbie to forex but have so much enhanced my knowledge thru this excellent forum. my congradulations to all who take the time to share their knowledge & experiences here.
ok to my query - living on the otherside of the world doesnt always allow me to situp & watch the usa/london trade sessions . so when i come in to look at charts 1st thing in the am i have missed the 5/12ema/ris50/VT crossovers which have been well in play. is it wise to enter after the play even though all the indicators are still on the positive or negative side ??
Happy trading.Ignored
Quoting brainjtDislikedHi, why do you think failure first signal?
Thx bjIgnored
Quoting shaimusDislikedI think it is because you would have most likely been stopped out on that signal if you didin't take the minor pips on the move before it rebounded I saw that one but stayed away from it considering the time that it happend..
The second one I would have jumped on had
I been at the computer..
ShaimusIgnored
Quoting SeekingLightDislikedI believe proper setups and good trades don't need stops over 20 pips. I've seen most good trades go less than 8-16 pips against you. Those that supposedly need more breathing room probably cross back and then make a proper signal after that or signal during ranging periods and the "breathing" is just trying to hold in the range. At least that's how it looks to me.
Because if it were to go the other way, it would for more than 20 and no stop would keep it in and if it were to go the right way, it wouldn't first reverse for over 20. Unless you missed that gigantic fib or s/r right in front of you, in which case it wasn't not having a big enough stop that was the trouble, it was you missing the surrounding conditions.
Stops over 30 pips don't feel to me like they're likely to make you more profitable.....like I said, most trades that go won't need that large stops...
"If it comes back past you, then you're in at the wrong place"
I don't see a good reason or setup for a nippy long at the moment.
Ignored