David
Question regarding losses
Once you have identified your risk and the trade goes against you, do you ever move your TL and double up on the trade to try and recoup your losses on the pullback? or do you just let the trade go and except the loss.
I have a friend who does this with great success and said many pro trader’s use this principle but it sounds like your chasing your money which only could result in further losses.
post #876 from Samyboy
I don’t really do that,
But can you?
Yes you could if valid signals are in place.
When trading the MA’s bias/trend, I like to do business at the BB or correction zones, or at the birth of a new bias or trend.
Thats all.
Other than that… I order flow scalp and trade options/derivatives.
Thank you very much for your quick response! It’s sooo much clearer now
14 years in the city, and I have never worked with anyone who does that, because they would have their p-45 handed to them.
As I said from the start… most professional traders are trading derivatives/options…“fixed risk” which is hedged and protected in the spot market.
He sounds like a typical gambling amateur… what happens if he keeps doubling up and keeps losing?
I guess we can forget whether the gbpusd is a correction zone or a bb zone with those gdp results.
Maybe time for some order flow scalping with that 1.5450 level within reach soon.:60:
E/U still looking good though, has pushed through 15M 100 and 200 MA’s with a single retrace bounce from the 100 MA.
Great! I was very tempted to join the breakout bandwagon but I controlled myself. The new me! There is always another day or another Pair!
Euro’s looking interesting now!
E/U - Have moved to 15 min TF now. I notice that the 100% extension of the first move (A-B) taken from C is at 1.21424. This is the lower edge of the correction zone I have as well as significant Sup’/Res’. It is just below the 38% fib but I feel that a staged entry might be in order if PA dictates.
PS Take pity on yourselves! Someone please show me how to improve my screenshots!:17:
Can anyone publish the EUR/USD and GBP/USD order flow report for this morning , so I can compare with the info I get from OANDA trade News (so far there 111 articles published) and not sure which one to look for.
and also, where can we get the option expiry report.
Thank you
I still struggling to decipher these information for flow trading, can someone help me please ?
(This is from what David posted yesterday)
If the level on the right is the effective barrier, what the level on the left refers to ?
What about the others ?
Cheers !!
There wasn’t much flow for GBP because pro money was standing aside ahead of the news release this morning.
The only flow was Offers are touted @ 1.5550 (1.5552 was yesterday’s high). GBP/USD 1.5425 vanilla expiration’s as well.
The EUR/USD flow was…
EUR/USD 1.2000 and EUR/JPY 94.00 KOs tipped, bids ahead, stops below.
Positive gamma may not fade even with EUR/USD 1.2000 break.
EUR/USD vanilla 1.2000, 1.2050 and 1.2100 expiries too.
Good optionality eyed at EUR/USD 1.2000 strike.
Large bids ahead, stops below though.
Asia sovereign-name interest tipped around 1.2040, low 1.2053.
Short-covering later to 1.2079 but offers in place ahead of 1.2100.
Offers seen trailing up to 1.2150, some stops above.
both columns are options, just seperated by comma to condense the info. Basically if it gives only one currency its a us cross, hence GBP is the cable. If a non us cross both currencies are listed in abbreviated form, hence A/JPY is the AUDJPY.
the 15550 sell order flow touted on IFR at 7am was there and waiting again today, after yests rejection off of it (ie yest high).
Its straightforward,
Each number is a strike level/barrier, left and right.
Everything with single currency (JPY, GBP, TRY, AUD, NZD) are against the $ unless they give the other currency (A/JPY)
The 1.2400 500 million is a no touch option. If price fails to touch then it pays out. That doesn’t expire today, its there to show you that that level is active and large.
The 1.2400 (500 million) barrier is owned by HSBC.
Just entering E/U correction zone!
HI David i also got this infer man, thanks for the intro to IFR… however how am i going to attack it?
If for me: now price are able to reach quite high, can i say that 1.2150 is an area of interest to offer? For Euro/USD
Cheers
Sweet !! Thank you !!
Thank you David, could you translate onto a chart to help to understand the interpretation
Thanks
It has all been covered past 3-4 days on here, and someone has made a PDF of the flow stuff… I’m not repeating it all sorry.
As for the EURO 1.2150 yes that is offered, and as I type it has just hit that level and the offers have filled. Price spiked down to 1.2138.
