To me it looks like you were right…? I mean it only dipped around 12 pips below Asia, and now it’s climbing?
But I’m long from 1.5850 on a demo account for a demo competition! 
It’s already up 11%!! Haha, it’s fun to be able to take such stupid risk percentage! 
i am long @ 5852…news coming out…I have my stop on be…don’t want to risk with friday and news coming out in 20mins…hope it blows to the upside
I’m with you on that Esser, my trade management sucks, I just can’t hold the position for long enough. EG, I’m already out of my Fiber long this morning, although I was only looking for a 30pip push (which I got) I took so much meat off early doors I have finished with 1.5% gain as opposed to a 3% gain had I kept it all on.
I’m working on it and lowering my risk to 1.5% from now as clearly my new account is maybe too large for me at the minute after playing with a smaller account for the past 3 months which did very well because I suppose I was less worried about losses.
Ak spoke about this last week too, once he got comfortable with his higher risk, the results have followed through.
It’s 9am you lazy sod! Ha ha, night yo!
Glad to hear I’m not the only one! But it just REALLY frustrates me how hard it is to make money from a really good entry! I’ve never thought about that…
Several times the last couple of weeks I’ve had really good entries to 100 pip trades, but only got out with like 20-30 pips! And some I’ve closed at BE…
I can’t belive that a trade which looks SO perfect in hind sight, makes you doubt your entry so much while the trade is actually open.
Trade management is for me, at this point, the thing i struggle the most with!
There is an EA floating around here somewhere that takes partial profits and moves stops at predetermined spots. This would allow you to enter the trade set up everything and leave. I been thinking of trying that. Staring at a 15 or 5 minute chart while in a trade can get you to second guess yourself…
Yep, my trade selections on the old account were great, but since the new account, I felt the need to take to BE as soon as possible even though I know this strangles the trade.
Conscious effort required for next month.
Handy for when you out at work too.
In my experience once you start to trade bigger accounts its essential to pace yourself into it. When I first started live in a proper fashion (after quite a while demoing and with smaller accounts) I had a £5000 account, and I got used to trading £2.50 per point. But even trading up from £1 per point to £2.50 still took me a while to feel comfortable. Now I trade a considerably larger account I still have to remind myself that its the percentage risk that is important not the absolute value. Takes some effort - particularly when you get a string of losses. Its a different take on the law of large numbers if you like, a big value loss still hurts like hell even though its only 1%.
Sure is, I’ll get back there with lowered risk I’m sure…
That’s a similar story yes, I’ve gone from £1.00 per point to £3.50 per point, so now I’m going to go back to £1.75p per point and then as you say, if I keep it in the head as 1.5% loss then it shouldn’t worry me too much!
Sorry for all the posts, the Android doesn’t permit multi-quote reply like I would have used on the laptop. Off todo some work catch you around lunch time.
BigInTheCity - still waiting…
BigInTheCity is sitting on his hands and doing nothing, no more trying to pick tops for me. I would have sold at 1.3650 earlier today if I was going to! Glad my new found discipline of 2 hours duration is working well haha
into long cable, 5815
edit: an ote on the swing of low yesterday - high today, the 20 institutional, and price action in fiber. There is a bit of time before nfp, took the trade because it is the same scenario as in the cable trade i missed earlier this week (except for the news coming up)
Nice run this week.
Here was the plan I posted going into Thursday.
Amazing how this unfolded.
Weekly distribution on deck??? (trapping longs into Monday/profit taking/Stop runs)
Thanks ICT (Weekly/Daily OHLC, OLHC mapping opened the door)
It all comes down to the daily and weekly High and Low price action under an X-Ray.
Talking about top’s maybe Draghi might offer some commentary next week on interest rates which might help to clip the euros wings a little. My take on trying to pick tops and bottoms is much more fundamentally based than technical. Take the recent fall in the Gbp - weak data (relative), King’s comments that inflation may not be the be all and end of of montary policy targeting in the UK and the announcement of a new Govenor who has made similar comments helped to precipitate the down move. Would have been a good ‘top’ call. This type of trade call is more like the stuff Chris Lori talks about re rate expectations etc. If we consider the Euro, at present sentiment is on the Euros side - afterall everything is just peachy is it not? Well if it keeps appreciating its going to make it so much more difficult for the eurozone periphery to address its still massive debt issues, in that it needs to trade out of it ultimately and to do so it needs a weaker currency. On top of that we’ve had a few euro bankers and talking heads mentioning hat the current level of the Euro is not a problem. Hmmm - makes me think of the Football Club Chairman giving his wholehearted support to the manager! With this in mind (well in my mind at least) I’m thinking some carefully chosen words next week might be all that it talkes to curb the current enthusiasm for the single currency.
That said - hey… wtf I could be completely off track.
Also this is not a forum for this type of stuff I know so apologies if its a little of topic.
Guys whats the opinion on using software like Advanced Get?
It’s bloody expensive so assume it must be pretty good (logicWIN) but no review of it here on the forum or online.
What is the program able to do that the free Metatrader 4 can’t do…?
what to do with open trades before nfp…
open trades in fiber and cable.
cable trade has +30, to take half and b/even the other half still leaves the remaining part easily exposed to volatility. Or take half and keep the other half with a large stop. If there had been more than 30 on the profit half i might have done so… i will take all cable off. Take some profit on fiber, and allow a large stop on the remaining fiber.
ok, now to spectate
I’d be getting ready to close Fiber should we spike high towards the big fig.
1.3780 is the next level on my chart, 79% retracement of the current range. Id be surprised if we make it all the way up there, but who knows. Maybe next week
Maybe a spike down to a bullish OTE. No open positions so just watching and hopefully getting a peak into next week…