Move aud/usd profit limit to; 1.11077
NEW TRADE;
short; gbp/usd @ 1.58844
stop; 1.62536
limit; 1.54027
NEW TRADE;
short; gbp/nzd @ 1.93841
stop; 2.00723
limit; 1.80544
Hello friend. Just came across this thread. Looks like the stops are quite huge although profits are large in comparison too. But the Huge stops and huge targets would take a long time. And for someone who is starting out with a small $ 100 account one stop loss hit would mean 40/50 % of the capital gone. For example the two deals above. the GBPNZD trade would be 688 pips stop loss approx. and GBPUSD above that has a SL of 369 pips.
I guess in the long run the system is great. But a couple of initial loss deals would wipe out a small account
Not a criticism. Just my thoughts.
DD
Hi DD,
I appreciate your post, however I think you need to do some research into proper risk management [meant in the nicest possible way].
The pip count is not the most relevant point of what you have just said or how I trade. The fact is that anyone trading in the way you suggest, ie 40/50% capital gone in a single trade isn’t going to make it as a professional trader as the unexpected always happens sooner or later. They are also going to become very familiar with the words ‘margin call’.
Risk management is the most important part of trading, second to none. The size of the account should never dictate that it is anymore or less risky to trade with. Any size, £100 or £10 billion should be properly managed.
The pip count isn’t the priority with regard to longevity, the leverage is. For a trader to be safe, they should trade with between 1-3% [depending on their trading style/system] per position, of the entire account balance [not equity] and therefore be in no risk of what you are suggesting above.
I hope that helps.
hello chaps,
So we’ve had the eur/cad tarde close at break even, which is fine. I pulled up the stop early as protection, due to the unceratin nature of the eur/cad and gbp/cad at the moment.
The eur/cad as been an a large sideways range since mid 2010 and is basically yet to decide its long term direction.
So, there may be another eur/cad or gbp/cad trade in the near future, but Im looking for confirmation of a decision first.
Theres likely to be a Aud/cad long trade tonight, following it’s decline to arounds the 1.0250 area as I previously said I thought it would.
So… stay tuned.
Well as said on the 14/03 I thought the Aud/cad would still be a buy but lower…
‘It looks like it maybe as low as around 1.0250.’ it is now down where I expected and is now ready to go long.
so…
NEW TRADE;
long; aud/cad @ 1.03486
stop; 1.00777
limit; 1.06196
NEW TRADE;
short; gbp/aud @ 1.52835
stop; 1.57419
limit; 1.48480
Pull eur/gbp stop loss to break even.
Move gbp/usd profit limit to 1.55302
Move gbp/nzd profit limit to 1.87374
Move usd/cad stop loss to break even
Morning all.
Ok, so we have had the GBP/EUR trade close this morning at 190.3 profit.
[some of you may well have had more if the trade was entered ‘late’ ie when negative.]
Quite nice as it has a high pip value [0.10].
Hopefully, soon, the GBP will sort its self our against most of the other significant pairs, as I really see little, to no reason why it should be getting stronger in the medium to long term.
Stay tuned.
Well, unfortunatley the USD has failed to strengthen fast enough to save the GBP/USD position, which has just closed negative.
Quite why the pound is getting stronger against all technical and fundamental information is rather strange!?!
Hopefully the GBP madness wont spread to the other GBP postions open and it will now continue its weakening trend.
Its been a difficult start to the year so far. Its also been the wettest drought I’ve ever seen!!! lol.
Stay tuned.
Well, the GBP madness has claimed more victims, the GBP/NZD and GBP/AUD positions have closed at a loss.
The GBP really is being pretty strange at the moment, very unpredictable.
The markets in general have had a difficult start to the year, but especially these last couple of weeks.
Hopefully sanity will pull through and all pairs in general will continue there long term trends.
Morning all,
Well, its a bit of a mixed morning today, as I write this there is around 3,100 pips! up on the board, but we have also had the aud/usd close at a loss last night.
We have either been very unfortunate with the stop of the aud/usd or its going to come quite abit lower, possibly down past 1.000, we’ll have to wait and see.
Stay tuned.
Afternoon.
Ok, the USD/CAD has closed at break even, so no big deal.
Hopefully however, this should mean that the USD/SGD trade will go back into profit and then eventually close in profit, as the USD/CAD and USD/SGD are highly positively correclated pairs [ie they move together].
Stay tuned.
Morning.
We have had the AUD/CAD postion close in the night negative, which isnt a big suprise as it has quite a strong negative correlation with the GBP/AUD [ie they move in matching opposite directions].
They other postions are doing ok, with the USD/SEK, NOK and DKK all doing well, hopefully they will make there final push soon and close profitably, with a lot of pips!
The current open pip count stands at over 3,500.
Ok.
We have had the USD/SEK close at a 2,412.4 pip profit!
The other USD pairs are looking good.
The USD/NOK may come in soon as well, at over 2,000 pips too!.
Stay tuned.
Move usd/nok stop loss to break even