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Afternoon all.

We have had 2 positions close today, NZD/USD this morning at a 490 pip loss, and then the big USD/NOK close at a 2,169 profit!!

Most of the other pairs are progressing well, so stay tuned.

Move eur/usd and usd/dkk stop loss to break even

NEW TRADE;

short; gbp/cad @ 1.61020

stop; 1.65268

limit; 1.56968

NEW TRADE;

long; aud/cad @ 1.00967

stop; 0.97971

limit; 1.03993

NEW TRADE;

short; gbp/aud @ 1.59714

stop; 1.65985

limit; 1.53848

NEW TRADE;

short; gbp/nzd @ 2.06810

stop; 2.12997

limit; 1.97782

Move usd/sgd stop loss to break even

Morning all,
Ok we have had the NZD/USD postion close at a loss, but this should mean that the USD/SGD position is going to come in profitably soon, as they are negatively correlated.

stay tuned.

NEW TRADE;

long; nzd/cad @ 0.77942

stop; 0.73657

limit; 0.82256

NEW TRADE;

long; aud/usd @ 0.98546

stop; 0.92948

limit; 1.04114

NEW TRADE;

long; nzd/usd @ 0.76219

stop; 0.70472

limit; 1.81915

NEW TRADE;

short; usd/cad @ 1.02359

stop; 1.06615

limit; 0.98045

Hello traders.

Right, we have had the EUR/USD trade close at a 786 pip profit!, not bad ay?

Stay tuned.

Hey guys. im sorry but im a newbie here. im very new and i would like to know,
what does this thing means. do i need to seel? buy? or stop loss?

short —> means buy or sell?

Long —> Means Buy or Sell?

stop —> Is this mean by Stop Loss?

limit —> and what does this limit means?

sorry im here please do not shoot me down. just need some clarifications. thanks for the help guys

Short is Sell
Long is buy
Stop is Stop loss
Limit is Take Profit

I hope i have help You

lovac24 thanks soo much! u have helped me! thanks :smiley:

Hi there motormadj, I have read through your thread and noticed that the spread between entry and SL is pretty big amount. Given that you are trading with 1d chart, it’s essential to have this big gap of spread. Understandable. My question is, normally when you post up a trade, how long before you “harvest” it…be it green or red pips. I am asking this because it would help me in managing how much risks I would face for a long term trade like this. I would be able to calculate how much volume to use when I place my trade. Thanks in advance :slight_smile:

Morning all.

Ok, earlier we had the USD/SGD trade close at a 307 pip profit.

Stay tuned.

Hi Pippinpips,

What do you mean by harvest? if you mean take profits early or partially close the position, I never do this, as its generally counter productive and actually turns out to be a false economy.

As you will have seen I do pull up the stop to break even at a certain point [that is decided by my system], so there is no risk of loss, but never close early or take profits early etc. I believe that the stop loss and profit limit should be placed with validity and therefore the PL is only in validated when the SL is hit.

‘Potential’ traders that close trades because the price action is near a SL or PL will always end up fighting themselves.
If a trader considers closing a trade shy of a PL then why wasn’t the PL closer or in the position hes about the close in?? it just doesn’t make sense.

If you have spent the time creating a profitable system, never second guess it.

Hope that helps.

Hi there, thanks for replying. By “harvest”, I meant TP/SL… So, my question was how long it takes for one trade to reach your TP/SL. Of course you wouldn’t know the exact day it taking. I m asking for an estimation. A week? A month?