I always thought that with any move, getting in during the first third of the move risks getting in too early and being stopped out, and getting in during the final third risks it being over and reversing before you get out, whereas just capturing the middle third of the move gets you a nice confirmed Entry and a safe exit at a decent TP. Capturing the middle third of every move would give very solid, high probability pips over the longer term. So well done on the 120 pips!
LOL !! Wasnāt my decision mate. Because I trade a micro account, my trading platform uses the dollar as the currency of choice.
If I ever work this FX thing out and progress to upgrading to a standard account or a spread betting account, then I can deal in photos of the queen. Until then itās Uncle Buck !!
Somedays you just have to laugh. Fancied both EU and GU to go long this morning. Erring on the side of safety I decided to pick one, not both. One has went long, one has hardly moved. Guess which one I picked !!
LOL, I used to think that it only happened with my entries.
I use to trade three pairs, GU EU and AU. And it was before all this PA trading. Each and every time all three pairs showed an entry, it would rain exceptionally hard if I did not pick the one that ends up not moving an inch.
It occurred so regularly that I came to believe this concept my husband used to talk about.
It was called the 2% quota. 2% quota just means that you can count yourself to be one of the two unlucky people out of a hundred just because of pure luck!. Its abit like Murphys law, but only difference is, this one seeks you out like an active missile.
Then I tried to become smarter and beat the system by entering on all three pairs.
This was before a concept or sense of money management sunk in. Ofcause all three pairs would tank and you could guess what happened to all my money.
So you are not alone. It happens to the best of us. It happens to all of us.
I just noticed: this thread is not too far off the 1000 posts mark, which is quite a testament to HoGās style. I realize that this will be difficult to engineer, but I feel we ought to let HoG himself make the thousandth post on the thread. Everyoneās trading journey should be punctuated by the positive landmarks along the way, after all.
And donāt worry, HoG - I have given you around 50 postsā warning, to give you plenty of time to think of something inspirational to postā¦!!
Hello HoG. Iāve been following for a month or so on a different account, but never commented. Now that I have a name thatās a bit easier to remember (my other was letters and numbers) I shall try not to be a stalker any more. I enjoy your outlook on life and you and everyone elsesā posts always brighten my day.
Told you stop was tight. Price has only moved up 4 pips and Iāve already moved my stop to BE.
EDIT: Just closed as a scalp. 3 lots, +4 pips. Still think it will go up a bit but might look for a better entry price again
EDIT 2: Shows you what I know
EDIT 3: Missed the dip below last entry price. ( in bath ) Went long again (3 lots) at 1-36088. Target this time 1-3645 ( just below yesterdayās high ). Futures looking up just now slightly. Stop 1-3595. Will watch and if price does move up may still close early if +10-15 pips are on the table. If it gets stopped out so be it.
My gut feeling HOGā¦ is weāll see some Asian range trading above the open, maybe as high as 1.3626-3635. But the move of the day (London-London/New York) will be overall short.