Posted this trade last night BUT decided to be conservative and not take it! ouch!
Which hurts most…losing or missing out???
Losing of course, so that’s my consolation!
As a MM decision it was a sound, as a hindsight decision not so much! But hindsight trading is so easy!!!
Congrats to everyone who won this week, commiserations to everyone who lost out this week (incl Kate Middleton - she trusted those wicked French folks:rolleyes:) and have a great weekend all!!!
Have a good Michael
No dramas Michael… We all been there I’m still there… Another boring weekend can’t wait for Monday to begin the new week…
Looks like the eur/jpy has worked out… Dunno if I should close before the weekend. Dunno about holding over the weekend… Been burnt before. Any suggestions. Considering making it part of my trading plan…
Well done…re closing…received wisdom is that if you have received some substantial windfall profits you should always take at least something off the table.l know traders who if they get an unexpected sudden jump of say 150 pips they close out all or almost all as parabolic moves usually retrace 50% or even reverse,as they can be exhaustion moves i.e. last final hurrah. BUT l can’t advise you on this because everything MUST be your decision alone when YOUR money is on the line.Me, if l’d hit 1.2 or almost and its friday l’d close out…you can always get back in on a gap fill if it goes up over the weekend. BUT my decisions aren’t necessarily the best…see missing 200 pips on GBPJPY yesterday!!!
Best of luck…nice problem to have!
Cheers I’m still working anyway so I’ll have a look before I hit the sack… Doing a 18 hr day… Anyway d
Michael dunno if u can discuss but what broker do you use that is ny close? Are you in Sydney.
Might be a nice bearish rejection pin bar in making… Although against trend might be a signal that price has over extended and returning to the ema’s
Also nice rejection of previous resistance… Sorry for the excessive posts… Hope I’m not annoying the group.
l’m in the UK and use a FxPro demo account,which is NY close, for my charting and a couple of UK FSA registered brokers for actually placing trades, incl a Spread Bet firm which makes trading tax free here.You can also spread Bet on MT4 now with some brokers. starting at 10p or even 10 cents a pip which is micro lot level.
Cool I’ll check out that broker… Thx bud I’ll catch ya
Many pips to all
That AUDUSD Candle does look like tempting short, Nice resistance level there. Also price is very over extended after that surge upwards, what goes up that quick must come down right, I’ll be watching this one on monday.
If I left a EURUSD long trade open that I had a open a few days back, I would be up 500 pips 
damm lol. Yes that hurts.
Yeah I took the trade… Don’t usually hold over weekend… Might get burnt. It’s a lovely rejection bar. Also heading to 3:1rr for eur/jpy… Took some profit and moved to be…
Here is my bearish pin bar for Aussie… Dnb may I ask what broker you use for ny close?
Michael jj said fx pro but the chart was identical to mine… Go markets is gmt+2… What gmt is nyc
I am with Alpari UK 
Thanks dnb…
Can’t wait till Monday’s open … Hope the bearish pin paints what the Aussie will do and go south…
Would you aim for tp at the emas? Obviously dependant on further pa signals
Have a good weekend
Cheers
Joe
I am just watching the AUDUSD break the signal lows now, I just can’t pull the trigger on this one. It’s too early in the Asian session, this market is extremely strong and QE3 has just been announced LOL. Ill be monitoring this one closely.
Dnb good luck with what you choose to do.
I’m in profit but will actively manage trade as it is against trend… Might tp at ema’s where it has also been previous support…
l’m looking to enter this one.A BEOB at R and possible first pullback in a trend on NZDCHF. Today so far is a doji like many pairs but could be a low risk trade with the stop above today’s PA and entry below yesterday’s OB.
Comments welcome.
Looks good Michael … I’ll keep an eye on it aswell.
On break even on Aussie and taken some profit as its against trend.
Hit just over 1:1 r on Aussie closed trade as its against trend. Looking for pa now to resume uptrend… Dnb did u take the trade?
Anyone trading the rejection wicks in …gbpusd. Most pairs have them…
Gbpusd near resistance at 1.62780…
Might take a very small trade not putting house on it.
Stop loss just above resistance tp2r… Again will manage as against trend…
Happy trading
Hi BT,
You can sell half your position for a 20 pip profit and simultaneously move your stop to break even on the FXCM Trading Station platform. First, to move your stop to break even, you can use a trailing stop. Suppose you are long 100k GBP/AUD at 1.55000. You can set your stop loss at 1.54800 with a trailing stop fixed at 20 pips as shown below. That means if the trade moves 20 pips in your favor from 1.55000 to 1.55200, then your stop will move 20 pips from 1.54800 up to 1.55000 which is break even.
In regards to closing off half your position for a 20 pip profit, this can be accomplished by using Limit Entry Order. Note that for this to work, hedging must be disabled on your trading account. Hedging is disabled on all FXCM US accounts, but if your account is with FXCM UK, then you must disable hedging on your account from the MyFXCM.com website as shown below.
With hedging disabled on your trading account, an Entry Order to Sell GBP/AUD can be used to close a long position in GBP/AUD, and an Entry Order to Buy GBP/AUD can be used to close a short position in GBP/AUD. Using the same example of being long 100k GBP/AUD at 1.55000, you can place a Limit Entry Order to Sell 50k at 1.55200 as shown below. That would have the effect of closing out half your position for a 20 pip profit, if the limit price is reached.
If you would like help practicing these steps, our 24-hour live support team will be happy to assist. Click here to contact a live FXCM rep for help with our platform.
Jason