Yeah, sorry, I justa dded a sub chart for the 2:1 steps as the chart was cluttered and I need to rearrange a few things and colours 
Iām still in from the breakout trade, +130 so farā¦
who said Fridays were rubbish to trade
Fridaysā¦this is a good one for a changeā¦just go with the flow and sit there and watch and milk it for all you can get. 
No bolli bouncesā¦thatās for sure. Hardly anyone dares to get in the way on this move.
I missed that big move in my sleep. Cas mentioned an alert service in another thread, something like that may be quite useful. They alert you when your defined conditions are met.
Think it will drop to about 1.6340?
You might have a chance if this .6480 - .6464 major support area doesnāt hold. Because below that until .6400 is hardly anything that can stop this free fall.
There is some serious bull/bear head butting going on in that .6480 - .6464 major support area.
Might be time to bail out and get PA direction adjusted.
Personally I would get the sleep
ā¦or learn how to trade longer term.
We all know 1 person with the long term trade on who got those pips and heās not even trading today, heās watching other people trade in a pit!
There are some brokers that can send you text message alerts but I prefer to be wide awake to trade during the day for decision makingā¦
ā¦and make sure you have a large capital base in your account.
We all know 1 person with the long term trade on who got those pips and heās not even trading today, heās watching other people trade in a pit!
Yeahā¦but do you know how he is managing his long term tradeā¦?
There are some brokers that can send you text message alerts but I prefer to be wide awake to trade during the day for decision makingā¦
What TalonD is talking about are [U]your own[/U] alerts. [U]Your TA[/U] transferrred to a relay service.
Hes just closed out that trade at 1.6479 for the weekend. With hedges total is just shy of 400 pips.
When out of the office I use my mobile/ internet and FX application to keep an eye on the trade. Hope you all got a bucket load of pips today!
To allow margin for more trades?
The risk at entry would be in line with current capital.
Yeahā¦but do you know how he is managing his long term tradeā¦?
No, I do not at present, I am reading back through the threads.
A trail based on the 1hr something like 50-100pips? ā¦but that was based on the 1hr crossoverā¦will have a read.
Was just saying, Iām not getting up in the middle of the night to manage trades Rest and recuperation and all that
What TalonD is talking about are [U]your own[/U] alerts. [U]Your TA[/U] transferrred to a relay service.
Thatās what I have with my brokerā¦email and text message alerts at predefined alarm levels and indicators/EAs, which I can code to send me alerts based on other factors like bollingers, etc. (the EAs are not relayed but I would just set an alarm).
ā¦or get Metatrader on a PDA
How were the pits?
O.K. Whatever you say.
Was just saying, Iām not getting up in the middle of the night to manage trades Rest and recuperation and all that
You might have a different point of view sometime in the future. When you reached your personal ācrossroadsā.
Different experiences for different people.
Thatās what I have with my brokerā¦email and text message alerts at predefined alarm levels and indicators/EAs, which I can code to send me alerts based on other factors like bollingers, etc. (the EAs are not relayed but I would just set an alarm).
ā¦or get Metatrader on a PDA
Sounds like you are set thenā¦for that long TF trade journey.
Explain thenā¦
If you enter a trade according to your normal risk, you need enough free margin to hedge along the way whilst not adding to your total risk.
If your stop loss is bigger for the long term trade, then your trade size would be smaller from the outset.
You might have a different point of view sometime in the future. When you reached your personal ācrossroadsā.
Different experiences for different people.
Nope - never getting up in the middle of the night to trade
Personal choice.
āsorry lads, I canāt come out for beers tonight either as I have a trade runningā. Social life, etc. etc.
Iām with you on that move, it seems like most of the big ones happen when the U.S. is asleep.
I donāt mind missing them as they would probably scare the hell out of me or give me a swelled head and make me think I know what I am doing.
What bothers me is that afterwords the PA bounces around not going anywhere
and I wonāt to jump in.
I know better now and wait.
I donāt want to get that Talon thing.
TalonD
We should not have missed the big one RC tried to worn us last night that it might come. I watched until midnight then couldnāt stay awake any longer.
Maybe next time we will pay attention when the master speaks. I always pay attention to what CAS says. But maybe thatās because my wife has me trained to listen to women.
So my lesson today listen when RC and SM speak.
Sayās one grasshopper to another.
[B][I]jcgibson[/I][/B]
Thatās because it is an important area for GU where supply and demand meets.
GU is now trading in a near term zone in the .1640 to .1680 level. Where we are now is the bottom of that near term zone.
Large buyers and sellers butt heads at those levels thatās why PA bounces around and doesnāt seem to go anywhere. Until a new level of price/level of liquidity is found/agreed on and PA will move.
and I wonāt to jump in.
I know better now and wait.
Thatās one of the common āmistakesā newbies makeā¦they jump in at those levels because they missed the ride beforehandā¦and getting nowhere.
Thatās were the factor patience comes into play.
Reason I asked about that target earlier, one of my day chart trend lines is in that area, (fan lines)
Iāve thought of trading more off the 4h, would only get 2 candles overnight. I would need longer stops an correspondingly smaller lot size to keep good mm. I like the 1h though, it seems to work pretty well.
well this is a continuous learning experience finding out what works best for meā¦ who knows maybe Iāll end up trading mainly off a day chart and week chart someday? :rolleyes:
I canāt hedge yet, not with Oanda. Still just trying to keep it simple for now. I close my trades at night. Donāt like to leave them open and unattended that long. Maybe thatās psycology but I got bit a few times doing that. But if I had something to alert me under certain conditions, Iād be willing to keep a trade going and get up and take a look when the need arises. Light sleeper anyway
Firdayās thought for the dayā¦
One thing I ask myself every now and then. What are you willing to do to make it to the top? How much work and time and effort are you willing to exert to get there?
Have a great weekend everybody!
Congrats Robert on the 400pips, the jedi master!
You have told me that before but donāt stop that is the hardest thing to overcome along with getting scared out of a trade.
I am working on those two things but I still have to fight the urge.
I think watching 3 TFās and comparing them is helping I get a better look at what the PA is doing. And basing my trade of what the H! and H4 show is helping too.
Yeahā¦it is not easy.
I am working on those two things but I still have to fight the urge.
When you look @GU PA nowā¦on 1hā¦4hā¦itās bouncing off .6525 & .6516 resistance. PA touched 4h trendline crossing .6516 resistanceā¦candle wick. SSD has crossedā¦and below 20. 1h 3 LWMA has crossed 6 LWMA.
I donāt know what PA might doā¦until it goes past .6525. If you would jumped in @the bottom you would have made about 39 pips in three hoursā¦with a lot of sweat.
I think watching 3 TFās and comparing them is helping I get a better look at what the PA is doing. And basing my trade of what the H! and H4 show is helping too.
Agreed. It gives the broad picture.
If your trading 1-2% of balance or less the additional hedge shouldnt present much of a problem re leverage plus it only ever costs you the spread in real terms. Or you could simply exit the trade at a retrace and get back in after the turn. Dont suppose it makes any difference reallyā¦ I have just been using the hedge so long and psycologically if Iām hedging I still feel in the trade. :rolleyes:
What you have a social life? Yes I think I vaguely remember one of thoseā¦ oh well after Christmas.
It wasnāt a pit it was a trading floorā¦ very civilised! They have desks with motorised hight adjustment! I dont have oneā¦will be complaining about that Monday. Yep it was interesting to see how they trade.