When we hit 208 on the bid I closed for a 1 pip profit on my loss leader 207.99.
But my point is and part of calling it a loss leader is this.
You really dont have to make 100% profits on your trades unless you are OCD
(wont mention any names here).
I sat with my last one (a 207.99 for hours).
I got to within 9 pips of breaking even before it fell and rose again.
But any time I could have closed that "loss leader" for a loss
if I couldnt wait to complete above 208. I did close at 208 for a 1 pip profit. But I sure could have held it for 15 more minutes for 31 pips profit like it was originally set to.
The thing is while I Was sitting with that last one I was up on 641 out of 638 trades or something and had banked pips of OVER 9000, WHo care if I even gave them 20 pips back?
Quote:
Originally Posted by pipsquito
Here is my previous post from one of those other forums I won't mention by name:
Hey...I am wondering how it is possible to "make sure you are flat" before the news? Does this mean to not place too many orders too far down? I have a string going all the way to 206.09. Is this bad?
Also...don't we want the pair to move down? Are you saying that the news will drive it down not to return to the 208 area?
If we should be flat by Wednesday, should we not be placing trades close to 208?
A bit confused...
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