Carey's Journal

[cdcaveman]

Quote from cdcaveman:

SLD 20K EUR EUR.USD Cash 1.33990 USD IDEALPRO 01:03:19

stop at 1.3419
target at 1.3339

stop is 20 pips.. target is 60 pips..

stopped out last night

 

[justrading]

Quote from cdcaveman:

stopped out last night

I looked up the pair, 20 day ATR is 0.0116 so it's easy to be taken out with a 20 pip stop.

Were you looking for a short term move, or overnight?

 

[cdcaveman]

+ BOT 1 CRM - FEB 15 '13 + MAR 15 '13 175 Call Calendar Spread 5.20 USD SMART 11:27:21 OptTrader 3.84 null


earnings calender...

 

[cdcaveman]

Quote from cdcaveman:

+ BOT 1 CRM - FEB 08 '13 + FEB 15 '13 170 Put Calendar Spread 1.66 USD SMART

sold..

+ SLD 1 CRM - FEB 08 '13 + FEB 15 '13 170 Put Calendar Spread 1.95 USD SMART 13:02:00 3.84 null sub account

 

[cdcaveman]

Quote from justrading:

I looked up the pair, 20 day ATR is 0.0116 so it's easy to be taken out with a 20 pip stop.

Were you looking for a short term move, or overnight?

the 20 day ATR is .0116 thats in pips? so 110 pips?

 

[justrading]

Quote from cdcaveman:

the 20 day ATR is .0116 thats in pips? so 110 pips?

116 pips. When you said stopped out last night, I was not clear if it was a monitored trade (ie short term) or left overnight.

If left overnight, little or no chance with 20 pips; typically you want 1.5 to 2 times the ATR to be safe from noise on swing trades.

 

[cdcaveman]

Quote from cdcaveman:

+ BOT 1 SPX FEB 08 '13 + 1485 - (2)1505 + 1525 Call Butterfly 11.35 USD SMART 14:02:01 OptTrader 5.34


expires tommorrow PM...

pain..

+ SLD 1 SPX FEB 08 '13 + 1485 - (2)1505 + 1525 Call Butterfly 7.90 USD SMART 15:08:51


-3.45

 

[cdcaveman]

Quote from justrading:

116 pips. When you said stopped out last night, I was not clear if it was a monitored trade (ie short term) or left overnight.

If left overnight, little or no chance with 20 pips; typically you want 1.5 to 2 times the ATR to be safe from noise on swing trades.

wow thats alot 200 pip stops..

 

[justrading]

Quote from cdcaveman:

wow thats alot 200 pip stops..

Well with swing trading you are hitting for the fences rather than bunting. You will be looking for at least 400 pips profit.

Anything less than 1 ATR and basically your are subject to being taken out by noise. If you are good at picking your entry spot you could get away with 1 to 1.5 ATR.

Reduce your position size so that the wider stop is within your risk limit, or else stick to day trading. I'm not sure how IB is with forex trading below the minimum size, they say it's handled differently so you'll have to check.

 

[cdcaveman]

Quote from justrading:

Well with swing trading you are hitting for the fences rather than bunting. You will be looking for at least 400 pips profit.

Anything less than 1 ATR and basically your are subject to being taken out by noise. If you are good at picking your entry spot you could get away with 1 to 1.5 ATR.

Reduce your position size so that the wider stop is within your risk limit, or else stick to day trading. I'm not sure how IB is with forex trading below the minimum size, they say it's handled differently so you'll have to check.

they do let you trade below the minimum.. i'll stick to that..