And 25 bps aint that much. The dollar is hugely oversold
and sure did rally last week. I am still bullish GJ LT. 207.30 aint too bad
You are less than 100 pips down. Wait until you go down 5 figures+ on several. The trick is to pick the pips and build them up and be like a bank having orders at all prices for sale. As long as you are using smart margin management you will be ok. All LT charts look bullish still. SO the news is just going to cause some drawdown before it retraces back up,
the point it you want to get in LONG as low as you can, and before a NFP
THat is likely to rock price down 100 pips, it would beehove you to wait and not 'waste' those pips. Thats why I dont like buying high on the way up.
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not have said that right. After my very successful run last night I ended up flat this morning. I started to place new buy limit orders starting at 207.79 (actually I did two before that that quickly profited.) Since the pair has been moving down and I am not at home I am just automatically picking up open ended trades every ten pips from 207.79 (which probably wasn't even triggered.) I do not know if any have recycled back up to TP. Maybe some have. But I am on autopilot now until I get home...figure a bunch of these are in position right now creating our coveted profit making drawdown!!
I am just worried, after your posts about the drop due to news, that we will not be coming back up this high (208). You said to "try to be flat"...how do you try to be flat? If it keeps dropping, simply stopping your buy limit orders will not help the ones already opened to close. It will stop the drawdown, but not help you go flat. The only thing I think you might mean by that is to not place the buy limits too close to the top (208). That is why I asked if I was OK to start that high....
Todd[/quote]