I used to always just move to BE after TP1 was hit, or even before TP1. Lately though I have been moving my SL up more methodically and patiently cutting risk down but not removing completely as price moves in the direction of the trade. It has helped me a lot as I used to get stopped out at BE all the time and I was only trading 1 lot so it was a bit of a pain.
I started to do this way after noticing ICT proceed like this. I’m sure he has always done it like this, but only recently did I really notice. I think reviewing his myfxbook and how he manages the open trades will help a lot with this aspect of my trading
Yes, good policy & I have been doing this as well except today I had to go out & been a Monday I was happy to have first profit taken off, be risk free & miss out on the second portion. When I feel more capable I’ll have three micro lots instead of 2 & let the last lot run free when lot’s 1 & 2 have been safely put in the :36: bank & lot 3 @ breakeven.
Just fyi - there are rumours of a sovereign downgrade for the UK which might not be good for GBP - just so you are aware if you’re not hooked up to a news feed.
Found a broker that supplies MT4 feed for bonds ie
ITA-10Y
UK-10Y
GER-10K
GER-30Y
USA-30Y
USA-10Y
Only issues are that Demo expires in 30 days and the time stamps have odd behaviour as well as are different (?) between US and German and British Bonds.
The following snapshop taken at 11am gmt+8. A zippped image also attached.
Are any of you still long from this mornings LO set up(1.3420)? Just curious… I didn’t take it this morning because I was waiting for 1.3400. It never made it there but I think that its still a nice place to go long. Thoughts?
I got stopped out yesterday but took profits. My bias is still long on the fiber, the street money are almost 70% short according to Oanda I’m sure I can hear the banks going "Mmmmmmmmmm! Yummy Fresh Pips for breakfast! :36:
But still it’s likely to be another S&D day…
Edit:
On saying the above, note that over the Asian session the cable made Higher highs while the Fiber didn’t: Bearish divergence for the Fiber… so first move may be down to your 134 level, just guessing here
I’m long still from yesterday. The problem with coming back to the 1.34 is that it can cause a bearish flag, that’s why it might just not get there. Remember that ICT also uses hidden Fibs by pulling them from the big figure.
Hope these few cents help and that it wont go down now
I just thought I would share a quick story with you guys!
The broker than I’m with, IronFX, held a big forex competition last year, from september to december. You had to deposit at least 1000 usd, and the person who could then achieve the biggest growth in percentage over those 4 months, would win a brand new super car (which turned out to be a Ferrari F430) or 150.000 usd!
Remember that you had to trade with real money, not play money!
The person who won, achieved a growth of 3635% in 4 months!!
How the h*** is that possible?! :o
I know this doesn’t really have anything to do with this thread, and I’m sorry for that, but I just saw the results of the competition, and I was in shock!
Out of interest, do any of you scalpers/intraday traders use trailing stops?
I mainly trade swing setups, but have been looking more at short term trading. I’ve seen a lot of you posting where you are entering and exiting but haven’t seen any discussions on trailing stops or anything resembling a trading plan with this mentioned.
When trading currently I have a look at the charts and the start and end of the day and move my stops appropriately, I just don’t see how you can do that short term, check the charts every hour?
That is also very strange for me! There was a FXCM contest two month ago which was lasting only for one month. And the winner made around 3,500% only one month!
Maybe it is not some kind of special trading system, but just the matter of luck?! :s
Trading in a competition is not like real trading for a living)))) You just go for it. Double down and let it run. ha ha
F430 or 150k, i’d take the money. I’ve bought F430’s for under 125k.
If you know you can win 150.000 lump sum (plus your trading profits) you could comfortably open 20 accounts and trade (gamble) like there’s no tomorrow.
Either way 3635% in 4 months is sick! And I would love to see the trades they made.
Fiber 1.3398 level looks like a good level to go long. There is ICT ORO Patern plus S2 daily pivot, Big Figure, HTF Support with overall MS Bullish! :33:
