Forex Price Action

Sorry, I don’t exactly follow. How do you adjust the pip value using the close function? That just instantly closes the order.

I woke up 10 min late and the market already miss my entry point to long…

Actually it does just close the position you want it to close lol
you can try it on a demo :slight_smile:

So you just have to open 2 half positions? Close one and move the other to break even? Is there any way to do this by opening one position?

What S/L are people putting on this trade?

If you only have 1 position and want to close half of it, you can only do it manually.
Click “Close order” --> then adjust the lot size you want to close

i am in long position already, in some cases like this, i usually play a pending order. …

I will manage UsdJpy as open only one position and wait to price reach VBRN 100.00. Then move my SL to break-even and wait price to reach 103.40.

Price opened nicely last night and i got straight in with a instant execution buy order.

Got my TP at 100.00 aswell with the SL at 96.00.

Remitu

Same here. This is going to be a very nice trade.

Ever since i started reading and learning price action from this thread and from every single person who has contributed, my trades have been alot more profitable. So i just want to say thanks. Hugh shut out to the originale thread started JOHNATHAN ( you are the man) and to every one else. Cheers!

Lucky im still demoing if not i will be killing myself now lol

How do u managed stop with such a big stop loss gap, (almost 200 pips)? Trade with less position??

Couple of things I should make clear. I am not in this trade - demo or live. The stop loss never bothers me because I use position sizing to a fixed amount per trade. What kept me away from the trade is the choppiness to the left. That is why I asked the boss about his opinion, whether that was enough to dissuade him from this trade. It was not bad choppiness either. hmmm. I am yet to hear from him on this count…

I never play with my position size. If the R:R bothers me and if the set-up is A+ in my books, I am willing to change the rules of the stoploss, like setting it under a significant support or above a significant resistance or a VBRN etc. etc…to acheive reasonable R:R instead of setting it at the other end of the PA pattern.

What usually happens 90% of the time is that I err on the side of caution and take the best position in the market - which is not taking a position ;). Hence am not in the EURCAD trade. The downside of being too picky is that you might miss out on a few good trades. For example, I must be the only follower of Johno who is not on the live USDJPY trade. In that case I simply did not like the size of the preceeding bearish bar in relation to the size of the pin bar… the last question I ask myself before taking a trade live is whether I feel good about it… and I did not.

All said and done I am happy with the one trade I do in a week. :)… All the best with the Yen pairs guys…

Raj

i take long on USDJPY by pending order and the the price go up + 60 pips now.i am concern to move the stop loss to BE.

Thx alot for the advice!! :wink:

Observations mate :slight_smile: not advice. Cheers.

[QUOTE=“traderamateur;498666”]

Couple of things I should make clear. I am not in this trade - demo or live. The stop loss never bothers me because I use position sizing to a fixed amount per trade. What kept me away from the trade is the choppiness to the left. That is why I asked the boss about his opinion, whether that was enough to dissuade him from this trade. It was not bad choppiness either. hmmm. I am yet to hear from him on this count…

I never play with my position size. If the R:R bothers me and if the set-up is A+ in my books, I am willing to change the rules of the stoploss, like setting it under a significant support or above a significant resistance or a VBRN etc. etc…to acheive reasonable R:R instead of setting it at the other end of the PA pattern.

What usually happens 90% of the time is that I err on the side of caution and take the best position in the market - which is not taking a position ;). Hence am not in the EURCAD trade. The downside of being too picky is that you might miss out on a few good trades. For example, I must be the only follower of Johno who is not on the live USDJPY trade. In that case I simply did not like the size of the preceeding bearish bar in relation to the size of the pin bar… the last question I ask myself before taking a trade live is whether I feel good about it… and I did not.

All said and done I am happy with the one trade I do in a week. :)… All the best with the Yen pairs guys…

Raj[/QUOTE]

Thanks for being real, I also did not take this trade, for some if the same reasons.

Chart USDCHF, H4, 2013.06.10, Pepperstone Financial Pty Ltd, MetaTrader 4, Real - MetaTrader Trading Platform Screenshots

USDCHF H4, Short

A+

with down trend
big pin bar
Significant Resistance

Pls comment, thanks

Hey Yumei.

Did you make a plan for this trade before entering?
In other words, is moving to BE now that price has gone up part of your plan?

I set my TP1 at 100.00 and untill price reaches it i wont fiddle with my stop.
I planned my trade and will trade my plan :slight_smile:

Just asking this as i was doing this awhile back aswell.
"Ow i’m in profit lets move to break even"
Only to be taken out by the market and see price go in my direction afterwards (not hitting my initial SL).

Remitu