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.
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
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
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?