Last night’s bet just got stopped out Locking in a £270 loss.
[Edit - Irrespective of the merits of teh position as a whole, that was plain BAD stop - placement at 1735 - ! The prevoius low was 1735 and retracements often go a few pips past the previous low / high, to trigger stops and provide some momentum for the upside. The stop was only 10 pips above the others, which held. Limit of the move was 1729. ]
“…It’s clear, as Draghi repeatedly mentioned, that policy makers are concerned about the strong and rapid appreciation that the currency has experienced, which is probably preventing them from making a tapering announcement at this time. The problem they face is, in not talking about tapering or, more importantly, suggesting that the program could be extended as it is beyond the end of the year, they are effectively confirming that tapering will happen. Or at least, that’s how traders are perceiving it…”
Hmm That’s interesting ! 31 months downwards, few weeks upwards and Germany is wanting to keep the Euro LOW ! - wierd - but valuable info nonetheless - Thanks Viper !
So back to no-man’s land again bet wise 1777 still negative with that stop-out at -£140. Proper stop placement and it would have been +£280 .
1784 breakeven - That loss of £270 has cost me a toatal of £490 so far !
Taken a short term up-bet 17829 after biggish plunge at 8:15 GMT (It’s actually 9:15 - but we’re still on “Summertime”
[Edit - I wonder what caused that ? 
]
Ok so now dilemma time again. That was a short term bet, but is now 21 pips (£210) to the good - so do I close it - or do I let it become long term replacement for that stop - out ?
Ok deceision made - it is closed at 1802 for 19 pips £190.
I kept that as a short term trade, because it had noo stop loss and I didn’t have an appetite to set one below the double bottom, with only 70 pips upside.
All in all the big trade is £800 in profit now and in case I’m not about when it happens, I will enter a take profit at 1869 for the retracement trade. The original bet will be left to run so I can “See how it looks” at that point.
Without tat stupid stop loss placement on the best trade of all, the profit would have been £1690 at this moment. ( I am learning a lot from this trade. )
@tommor We are approaching that level as I type - but I’m not a trend follower, because whenever I try I get stopped out - I am basically a contrarian. That retracement trade was “A” Level as far as I’m concerned and adding another at - 0.618 was a great move, with a crap stop loss placement.
{Edit Seein as this is a paper trade, I may adjust my spreadsheet to show what the results of that would be. The probem to me is Assuming that is successful - where do we take profits ? }
I shall rember your advice here and may try it another time. but for now my strategy will be to lift the remaining retracement trade at TP 1869 and let the original bet stay on for a while.
Thanks a lot for your thoughts, but I have already tried soome new stuff on this one and don’t want to put more complications in.
@tommor - I have entered your suggestion on a separate spreadsheet at 1832. The stop is placed at 1783 which is a 50% retracement from the current high, which gives a zero risk, but no profit situation if I am wrong and the Law of Alternation fails to operate on this occasion.
[[Edit my spreadsheet is showing +£200 at 1837 and I have terminated the bet. Although I have 2 positions on the bet, they are at very different levels and I,m only £1060 up. A 20 pip stoploss here is just asking to lose ! - atb and thanks for the £200 ! 
]
Exits are the toughest decision in trading and there can’t really be a single right way but I can tell you my way. I never set a TP and never close a trade, they only close when a SL is hit (unless I need to close an oldest trade to release capital for a new one). When I have multiple trades on the same chart in parallel, all the trades close at the same time. Obviously, the worst result is for the most recent trade, which is a total loss, but the others are less painful. The loss on the last trade is the same capital as the risk on the very first trade. The next to last suffers a break-even, the older trades all make a profit.
e.g. A nice day-dream is to one day have 10 parallel longs on the same pair or index. Let’s say Trade 1 had a TA-based SL 96 pips below entry, so my initial risk was 96. When Trade 1 gets to +96, I move its SL to its’ entry and open Trade 2, also with a 96 pip SL. And keep doing that forever. Every 96 pips up, open a new trade with a 96 pip SL and move all the other SL’s 96 pips higher. Maybe when to want to open Trade 11 you’re out of capital, so close Trade 1 to release it. Otherwise, keep letting all the trades run until there is a 96 pip price drop, in which case they all close at once.
Onwards and upwards.
Ah I misunderstood - you trade each position separately except for stop loss
Ok - well we’re closing in on all sorts of doulbe tops at the moment, If it punches through, my smallest position should be around right to follow that advice.
I’ll re-open again and try it if that happens. 
I do it manually, but I can’t see why a trailing stop shouldn’t work just as well.
Removed my TP instruction at 1869 - I don’t think the 1880 will hold it down.
+1 contract at 1817 - I woke up and it was down there - just fired at a plunge before I realised when I woke up properly, it is on the way to retest 1800 - ok I’m comfortable with that.
Well how cynical was that ? 17610 then they let go and stopped pushing I’m thinking - the bottom of that plunge prior was 17670 - 6 pips higher, so where were all the stops located ?
At least that’s how it seems to me.
I might be wrong of course we’ll see if it goes back up now and lets my trades get back into profit.
Well you rarely see such a perfect head and shoulders and IG Have open Interest at 62% short, So it absolutely does have to fall off a cliff doesn’t it ?
I’m tempted to close my biggest loser and biggest winner together for a small profit and leave the other loser to run, but as everyone correctly said at the beginning does it still sit within your plan ? well yes it does and if I had left the single bet at 1725 running I would be £500 up with no risk to a £2500 profit.
As it is trying to scale up the bets when they were trending is costing a lot. the scenario is now 3000 loss or 6000 gain.
I’ve never ever seen a situation where the signs were so obviously in one direction or the other succeed,
I think they may drive it down to take out the stops below the double bottom, but the upbet remains for me - I do not try to encourage others to follow me.
You need to have your strategy in hand before going into the trade. You are kind of stuck between Warren Buffitt (don’t loose any money) and Willy Sutton (go where the money is), a kind of universal dilemma for traders. I would always take the money and run
Yes I’m a bit rusty ! got stopped out about 6 hours ago with the drop to 1724 - caught me by 1 pip ! (- £2960 including the £270, but I picked up £ 1100 in side - bets along the way too. )
I’m pretty sure the move will continue now to 1880 probably 1.2000 and eventually probably around 1.2500, without ever giving me an opportunity to get back in.
But it may well take out the “Double bottom stops” first, so I have a buy order at 1.1701.5 with a stop at 1.1614. Trouble with that is it’s close to the round number, but it’s enough points to risk at this stage.
Well the buy order and stop are removed and at last look we were up to 1.1806 - so that single pip stopout which lost £2960, would now be £1040 in profit.
There’s a lot of learning for me to re-read in this thread - Good trades screwed up ! Profits left to turn to losses, short trades left to become “investments” - but poor entries and stop loss placement are the most important I think.
On the up-side though, my betting principles seem to work on forex as well, but I do need to study the manipulation aspects more too ! I thought the size made it immune - now I have my doubts !
Thanks to anyone who is still following this little adventure.