I went long EUR/CHF at 1.4800. My SL is 1.4750. The daily candle is hanging just above the BB. So as long as it stays above the BB i will be ok. If i hit my SL then no biggie only -50 pips. Not much maintenance in my trading, so don't have to watch the computer all day long. Hopefully i can catch a trend.
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To remove first post, remove entire topic.
I went long EUR/CHF at 1.4800. My SL is 1.4750. The daily candle is hanging just above the BB. So as long as it stays above the BB i will be ok. If i hit my SL then no biggie only -50 pips. Not much maintenance in my trading, so don't have to watch the computer all day long. Hopefully i can catch a trend.
eur/chf will probably hit it's SL for -50 pips but the cable is now up +150 pips so i will put my SL at breakeven so in case there is a major move against me during the late nite hours i will not lose anything. We have cpi news on the pound later 2nite...the forecast is for cpi to be down so the cable would get hurt by that news....so let's see what happens
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eur/chf will probably hit it's SL for -50 pips but the cable is now up +150 pips so i will put my SL at breakeven so in case there is a major move against me during the late nite hours i will not lose anything. We have cpi news on the pound later 2nite...the forecast is for cpi to be down so the cable would get hurt by that news....so let's see what happens
not been in the forum for awhile nice to see a forex guy here. May have to stick around. That short Euro has to be a nice trade to check. I tend to trade more active and scalp. Expected a correction today and bought the pound set the stop at 1.3650 went out to play golf at 11. came in at 3 and saw the cable at 1.40 figured was a pretty good trade. Opps got closed out at a shitty loss. Best trades recently have been placing entry orders at night to hit the euro asian sesion has been much more productive.
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not been in the forum for awhile nice to see a forex guy here. May have to stick around. That short Euro has to be a nice trade to check. I tend to trade more active and scalp. Expected a correction today and bought the pound set the stop at 1.3650 went out to play golf at 11. came in at 3 and saw the cable at 1.40 figured was a pretty good trade. Opps got closed out at a shitty loss. Best trades recently have been placing entry orders at night to hit the euro asian sesion has been much more productive.
hey ferndog and treasurecay....good to see some more faces around here. i went short on cable last night but got stopped out for small loss in the 39's before it went back down a bit. will be trying to follow some pairs right now but its hard for me to look at charts while im at work
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hey ferndog and treasurecay....good to see some more faces around here. i went short on cable last night but got stopped out for small loss in the 39's before it went back down a bit. will be trying to follow some pairs right now but its hard for me to look at charts while im at work
haha, nice to see that CHF came back around wall... i think we have both learned our lesson about placing stops. even if they are wide, they need to be there.
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haha, nice to see that CHF came back around wall... i think we have both learned our lesson about placing stops. even if they are wide, they need to be there.
Sure would like to see you trade in here again. It was a thing of beauty the way you pick up 20 30 40 pips on those short term trades. I gotta belive if you set a 15 or 20 pip stop loss that you would hit your profit target 3 or 4 times for every time you got stopped out. Thats money in the bank. Back when your were trading in here did you draw down 15 or 20 pips in those short term trades, I cant remember ???
Nice to see some new faces more the better Great call on the gb/us short Fern that was a serious move down
Hey Pop and Buc Whats up Hope its your accounts
1iron
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Hey Wall
Sure would like to see you trade in here again. It was a thing of beauty the way you pick up 20 30 40 pips on those short term trades. I gotta belive if you set a 15 or 20 pip stop loss that you would hit your profit target 3 or 4 times for every time you got stopped out. Thats money in the bank. Back when your were trading in here did you draw down 15 or 20 pips in those short term trades, I cant remember ???
Nice to see some new faces more the better Great call on the gb/us short Fern that was a serious move down
Well the way I was most successful was technical trading, and I had only one losing trade in the time I did..what I should do is use a wider stop and stick to it, allow for averaging in and stick to technical levels for an exit..I had a technical level for the CHF but I didnt observe it for a stop...that wont happen again for sure.
If this CHF gets to 1.17 I will sell the lots and start up again..that would give me a small profit and in total I would still be over 35k or whatever in profit..then back to work.
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Well the way I was most successful was technical trading, and I had only one losing trade in the time I did..what I should do is use a wider stop and stick to it, allow for averaging in and stick to technical levels for an exit..I had a technical level for the CHF but I didnt observe it for a stop...that wont happen again for sure.
If this CHF gets to 1.17 I will sell the lots and start up again..that would give me a small profit and in total I would still be over 35k or whatever in profit..then back to work.
I wanted to ask you what you meant by the daily candle hanging above the BB in that first post. Do you enter and exit watching candles ?? I have read about trading off the candles. Is this one of your signals ??
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Fern
I wanted to ask you what you meant by the daily candle hanging above the BB in that first post. Do you enter and exit watching candles ?? I have read about trading off the candles. Is this one of your signals ??
1Iron, BB stands for Bollinger Bands which are Standard deviations of the price. Right now the pound is trading well below the bands which means it is in very bearish territory. I am looking at the daily charts. The bands are named after John Bollinger...who used them for stocks but are also used alot in forex. Definitely i use candles because that is where i see the price action moving. I have several systems that i use to trade...so make sure you get a system & stick to it. It will help you in the long run.
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1Iron, BB stands for Bollinger Bands which are Standard deviations of the price. Right now the pound is trading well below the bands which means it is in very bearish territory. I am looking at the daily charts. The bands are named after John Bollinger...who used them for stocks but are also used alot in forex. Definitely i use candles because that is where i see the price action moving. I have several systems that i use to trade...so make sure you get a system & stick to it. It will help you in the long run.
Hey the thread has life again.....havent been checking in much nobody is ever here.......been some good price moves this week and EUR was easy to trade failing to close above tech level made easy sales...and JPY was a no brainer on the sell after it couldnt hold 90.70-50s.....after reading up on this pair some experts think its out to complete a pattern years in the making taking this pair down to the low 80s
Tons of good traders at dailyfx.com posting charts and everything different threads for different methods of trading def worth a look if you guys havent checked it out yet...i mean its course instructors giving free advice and questions are welcome from anybody
1iron 15-20 pips is pretty tight for a stop loss.....but thats just me.....i still dont mind averaging as long as the chart doesnt turn to shit on me..only trade i regret averaging is my shrt in CAD and had i just held it went from 1.30 to 1.22 in just a few days.....and i was averaged in the 1.28s......trading crosses is still the best way to make $$$ but you have to trade in the late am/early afternoon
Look up the trade ideas at that site Matt posts a video everyday and its usually covers 4 pairs
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Hey the thread has life again.....havent been checking in much nobody is ever here.......been some good price moves this week and EUR was easy to trade failing to close above tech level made easy sales...and JPY was a no brainer on the sell after it couldnt hold 90.70-50s.....after reading up on this pair some experts think its out to complete a pattern years in the making taking this pair down to the low 80s
Tons of good traders at dailyfx.com posting charts and everything different threads for different methods of trading def worth a look if you guys havent checked it out yet...i mean its course instructors giving free advice and questions are welcome from anybody
1iron 15-20 pips is pretty tight for a stop loss.....but thats just me.....i still dont mind averaging as long as the chart doesnt turn to shit on me..only trade i regret averaging is my shrt in CAD and had i just held it went from 1.30 to 1.22 in just a few days.....and i was averaged in the 1.28s......trading crosses is still the best way to make $$$ but you have to trade in the late am/early afternoon
Look up the trade ideas at that site Matt posts a video everyday and its usually covers 4 pairs
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