EUR/CHF grid
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Thread: EUR/CHF grid

  1. #1
    JackyLeeLi is offline Newbie
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    Default EUR/CHF grid

    Well I am not sure whether I get it right or not.

    Since there is a floor on EUR/CHF (1.2). If I grid EUR/CHF, does it mean I will surely gain profit.

  2. #2
    JackyLeeLi is offline Newbie
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    I mean whenever it goes down, I buy. Do I have to set stop loss?

  3. #3
    JackyLeeLi is offline Newbie
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    Same for USD/JPY, I may grid it as well

  4. #4
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    Kinetical is offline Newbie
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    Quote Originally Posted by JackyLeeLi View Post
    does it mean I will surely gain profit.
    The only thing SURE about your method is that it will loose you money....

    You may get lucky a few times but one of the BIGGEST sayings among pro analysts is "Don't try and pick tops and bottoms where price may turn around, if price is moving in one direction, it will most likely continuing moving in that direction. Only trade in the direction of current price movement"

    There are some Range Trading strategies which function well trying to predict turn-around points....

    But your method is called "averaging down" and almost always fails in the long run. Historically, "averaging down" may even be considered the single biggest mistake made by noobs and pros alike. I read a currency trading book on how the lead trader of the government Bank of Australia averaged down, ended up loosing BIG TIME.... Career-ruining mistake... The funny thing is, he averaged down for MANY MANY MONTHS and as soon as he took his big loss, 2 weeks later, price moved in his direction. What a HUGE failure!

    Quote Originally Posted by JackyLeeLi View Post
    Do I have to set stop loss?
    ALWAYS have a stop-loss, this is trading 101... Without a stop loss you run a big chance of LOOSING ALL OF YOUR MONEY VERY QUICKLY.

    Click the "School" Tab at the top of this webpage, try to learn a few things...
    Last edited by Kinetical; 11-03-2011 at 12:13 PM.

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