When position trading as I do, it’s sometimes possible to have a situation where the stop loss is slightly higher than the take profit (t/p); it just depends what my analysis tells me. In the case where the stop loss is greater than the profit target, each trader has a decision to make as to whether to take that trade or not; I guess it depends how well the trader believes in their strategy, and mind you, those situations are few and far between.
Can you expand a little bit on the point that ‘target points are a bit wierd’, meaning…?
Anyway, you can demo trade my signals if you want to get a better understanding how it all comes together. Let me know if you want to.
I don’t see where the eur/usd touched 1.3840 at the time or within 100 pips of your post to buy, also you than said move the s/l from 1.3849( which is your entry point you suggested to buy.) Can you give me some insight as to why you would put a s/l loss at the same price as the buy point? and at what time did the eur/usd hit your entry point
[B][U]eur/usd buy, 1.3849, t/p 1.4290[/U][/B]: This trade signal should have read, [B][U]eur/usd buy, s/l 1.3849, t/p 1.4290[/U][/B], so yes, you’re right in thinking that the buy trade was being taken at 1.3849, but in actual fact, that was the suggested stop loss (s/l). That’s how the misunderstanding occurred.
I don’t usually quote an entry point since I know that people are likely to get into the trades at different points, as long as there are enough pips left to the target profit (t/p) at the point the trade is taken to make the whole thing worth taking.
In answer to your question, yes, the signals as quoted are live trades, but I know there are people who trade them on live accounts as I do, and/or others who trade the signals on a demo account, again as I do.
Either way, a signal is only a suggestion, the trader will have to verify it, unless they have total belief in the signal generator.
I’ve had some really fantastic trades myself, and hope to carry on as such.
All the best to you and yours.
I had a feeling we were going to go south with the trades that’s why I didn’t risk a whole lot and I hedged it out. Don’t just follow the signals blindly! He does usually put out good trades but there is no such thing as a holy grail as stated by many all over this forum. Do some reasoning, check and see if any news releases are due that could alter it. Look at the trade if you don’t agree with it, then try it on a demo, or hedge it like I did!
The two trades above ( trades from 10 June 09) resulted as updated;
+28 pips on gbp/usd and -128 pips on eur/usd.
The updates to move stop loss points (s/l) were posted as regular posts on the forum.
Win some, lose some as the saying goes.
We keep pipping ahead.
Have a good day all.
You’re spot on! can’t win them all. The very reason why each trader has got to have a tight money management strategy going.
My take on this would be that one risks 1% to 3% of their account on each trade. With a good money management strategy in place, one does not need many winning trades to stay on top.
Keep pipping.
Hi Champus1969, yep, $30 would be your 3% of $1000.
I also think a risk/reward of 2:1 is great, sometimes, I even take 1:1, so well, keep pipping, mate.
All the best.
Hi all, it’s been a difficult week tradingwise, because the market is ranging so much and doesn’t seem settled; however, we forge on.
My view is that trading is all a numbers game, and one’s got to keep going, while sticking firmly to one’s trading plan and strategy.
We’ve had a few trades not go our way, but keeping one’s money management tight will help to ride it out.
Keep pipping.
