nothing like an early FOMC report to get us moving 
Market talk is that FOMC was released early by accident! (?)âŚinteresting!!
Just took a short at 1.3075. Iâve been watching Chris Loriâs AllStarFX course and heâs always going on about the 38.2% Fib overlapping with daily PP after a key reversal day, and how itâs a great place for a trade. So today we have the 38.2% fib from yesterdayâs high to todayâs AR low, combined with todayâs PP, as well as resistance at yesterdayâs AR low.
Does anyone here know why this thread is called âPro Traders Clubâ? Is that like an aspirational thing, or do real industry professionals frequent this thread? Thanks
Ohhh yeahâŚAll the big boys are in here
other reasons, same trade. still want price to touch the 80 level though to get the rest of my positions triggered
Iâm very intrigued by the fact that you retail folk come here and post your live trades. Doesnât it mess up your objectivity at all?
Anyways⌠may I put forth a guess as to where your Stop is? I would guess 1.3100-1.3105⌠am I close? 
no, youâre not. i play it a little different than most others in here regarding stops.
and why would that mess up my objectivity? i post it, i took/take it. maybe others get influenced but not me
Alright, it was just a guess anyways. So you play it different⌠how exactly do you play it different?
When retailers are heavily short, you can be sure Iâm looking for Longs
i usually use tighter stops because i look at smaller tf for the specific entry. if price goes beyond one point, it means my trade idea was invalidated, and iâm not willing to âhopeâ for price to come back, thus the âextra pipsâ for SL are a waste in my eyes and only decrease RR. if i would not enter at the current price, im out. thats the reason why i have an average RR of 3:1
Sounds like a reasonable rationale to me. So did your trade get stopped out? (yet)
Closed mine at 1.3085. Obviously wasnât doing what I thought it was going to do. Tempted to short again around 1.31 but Iâm always such a chicken when it comes to entering a trade after Iâve just had a loser, even though it was only a small loser.
yes it did. im not waiting for the stophunt at 1.31 with my position 
Great! It is good to see some traders around here quick on their toes, with a knack for reading the order books
better safe than sorry. iâm not saying donât take the trade, but if you dont feel comfortable, because you think that your judgement is clouded and thus youâre entry is bad, you shouldnt be in a trade. do a proper analysis, make checkmarks on your trading plan (i hope you have one) and if everything is good, donât let your emotions trick you
Ive been using a similar style for quite some time. Its working very nicely. Especially when youâre right. No matter what, R:R is everything in this game. I think that accuracy within 15 or 20 pips is very achievable. Easy for me to say, I only trade one pair
It goes without saying, youâre going to be wrong more than youâre right, but with a 3:1 setup or even 2:1, youâre gonna have something to show for itâŚ
My last âlosingâ trade was yesterday, took the Long from 1.3068 when we spiked down on early FOMC minutes, 15 pip SL, 60% off @ 20 pips, trailed the stop to -5 pips below BE, stopped out. 1% on the account as a result⌠(was ultimately looking for 1.3110 and 1.3140 if we ran up).
Im not suggesting people go out and start using tighter stops, but if you keep an eye on the key levels, theyâre usually quite forgiving with a tight SLâŚ
The traders on this thread seem to be quite advanced relative to the others Iâve seen on most other threads. I presume you have received some quality mentorship? Makes me wonder why everyone isnât drinking at the same pond you guys are⌠their trading accounts would probably thank them! lol
The thing that is getting me about this one is that if I hadnât have watched those Chris Lori videos I would never have taken the short at 1.3075. I would have been waiting for 1.31 and shorted there. Itâs just that I have been known to take losing trade after losing trade trying to get my money back so I really donât want to be doing that. Although Iâve never based those subsequent trades based on decent analysis, more just trying to get lucky. (I know, I know JC87. Plug the hole right?!)
would say my average SL is 15 pips, often even less. think we developed quite a similar view on the markets