These are two squeezes in effect since last night. It’s nerve wracking knowing that I have 50pips in the bag combined but I’m waiting for the squeeze to complete. Is this the right thing to do??? What do you guys think? Also one note, I put a couple trades on around 2000 arizona time last night that both got stopped out…maybe there is something to trading the high of a dormant tokyo market as these two squeezes were started about 2245…
50pips is a good profit, well it depends on your side if u want to hold the trades
if u are gonna hold the trades
you close half the lot size of ur order , and then set your SL to break even and then leave the rest running for as long as u like
I took your advice skuldz and thank you. I’m thinking that taking half the trade and letting the other half run is probably the best way. Something I’ve dealt with in the past is holding on and letting a good trade turn in to a loss…Working on patience
eurgbp- closed 3 minis at .806 +13pips
gbpchf- closed 2 minis at 1.499 +29pips
right now, I have 2 minis still open for both positions, stops at be +2-3 pips for the spread. I’m going to hold them until price hits the 200sma then adjust the stop way up
Hopefully more trades tonight
closed eurgbp-.8056
closed gbpchf-1.4996
closed these out for some margin so I can put some more trades on
One more loss:
This is the trade from post #852. Was winning overnight up to a profit of 31pips but didn’t hit the 200sma and swung all the way back around for a -10pip stp.
Also missed one trade entry by 2pips that would have won 40 against the dollar last night Oh well. I’m forecasting the right directions and entering at good levels with concrete stp rules and risk/reward. A little bit at a time…
Is anyone else trading?
I really can only trade during mid-late Asian, early London, but with Halloween this week, I’ve been a bit distracted so not trading much this week.
:43:
Hey Sp,
Makes sense with Halloween. I’ve bee trading around the same times, using the find the highs and lows of Asia for entries. Works pretty well for me around 10-11pm azt. I’ve been setting “order triggers OCO” orders with predetermined tp and stps. Might be worth looking in to.
Great night trading last night. Tried a couple directional and a couple news. Here’s what I got:
Total of 55pips +however many I got from the gbpnok trade. Great night of trading!
Weird thing about the last trade on gbpnok: it was successful but I’m not sure hot to count the pips because of the activity: 9.20-9.15…Is this 5 or 500 pips? Any clarification would be helpful.
THanks
As a side note: made 13.01% on my account last night risking 2% per trade with different tp levels. All demo account right now though…What a night!
hmm just wondering whats the purple , aqua and yellow are? 10 sma’s?
Yes sir… All smas: 13, 20, 50, 200 on there. The diagonals are channels from the 1 and 4 hr., the white horizontals are daily sup and res and weekly pivot if its near the price
Have a few trades to post from last night and sine questions regarding entry levels. Charts/questions will be up this weekend. Have a good weekend
Trades from last night:
Guys, please take a look at the comments and let me know any feedback you see on the notes or entries or anything.
thanks
well done , i use 20 mostly as a filter, when thats not fitting play , i use a combo of 13 20 50 and sometimes 100…most play is 20 and 13, 200 is a must always
Sorry everyone I’ve been reading other threads. Dyeprod, you seem like you’re doing great. I’v found I’m much more accurate with the TP if I have other S/R on my chart. FOr instance, I won’t get into a trade expecting 30 pips if the market has already moved past it’s ADR. If a 4h channel line a major psycholocial level and the weekly pivot point are with in 15 pips of each other, it unlikely price will break through them all to hit the 200 ema with out a retracement first. Safer to let the retracement happen to get in or to take profit at that confluence level. A squeeze may happen 60 pips out but hit this major support or resistance 30 pips into the move. Fine, take your 30 pips, wait for the bounce and get in again or move stops to BE and take a little profit to make sure you’re in a winning trade, even if it goes against you.
My chart templates start with snapping the weekly, daily and 4h channels, trends, and obvious high’s and lows. This helps know why price seems to reverse “for no reason”. Just my 2 cents.
Spot on…