EUR/GBP to trade or not to trade

[cabletrader]

Quote from FXSnipe:

I decided to settle on this pair than cable or euro as I tend to look at weekly charts , daily and 4hr and wanted something that is not as volatile as cable and euro. I made a lot of pips on cable but then when I continued trading I ended up losing it all. I first look at patterns on the weekly chart and zoom in to daily , but I execute trades on 4 hr charts

I take 1 or 2 trades per week book 100+ pips and wait until the following week, I don't have to deal withthe ups and downs of trading cable anymore though I have to fight the urge to trade it as it really moves

Right the other end of the scale to me pretty much (unless it's a longer term trade), I can't see that far out. Although the same set-ups exist the win:lose and risk:reward would have to be good to compensate for the time it takes waiting for a trade set-up, then for it to 'mature', and then the time it would take to recoup losses if one went wrong.

What sort of stop do you use trading those time frames and how do you handle the time lapse between trades, do you trade other pairs?

I've just been trading Eur/Gbp getting Outlaw his 10 pips, lol. It seemed to take forever, and I took the dogs out for a walk in-between! I guess if you're not watching the chart it's not too bad but that would drive me insane, nearly 2 hours for 10 pips.....

 

[FXSnipe]

I use around 50-60 pips stop. I look at the chart once every 4 hrs or so. I do trade other pairs mostly yen crosses (AUDJPY and CADJPY). I hardly trade GBPJPY 2-5 times per month , this month traded it once , went long on Monday, it went up 80 pips put stop to breakeven stopped me out, what a beast this pair is. I have other engagements between trades thats why I do not day trade but my schedule sometimes allows for me to day trade.

My target per trade is more than 100 pips it happens often that I can get 50 -80 pips on paper and the trade comes back to stop me out , its to be expected and do not worry about it anymore, an occassioonal 500 pip move does happen from time to time but the majority are in the 150-200 pip range

 

[usdoutlaw]

Wow there is just no reprieve for EURGBP bulls

this pair is really making gbpusd hard to manage risk wise

well this and how bullish gbpjpy is acting currently

 

[FXSnipe]

1st position about 220 pips in the money
2nd position just over 40 pips in the money

Waiting for data releases if it continues to go down I'll hold any sign of a bounce , will head for the exit but the 8900 level seems to be a googd level to exit, wait and see

 

[FXSnipe]

This is my last post here, I have other engagements from next week which willl keep me busy for some time,

Out of my first short - 240 pips profit , 2nd position is about 80 pips in the money.

All the best to you all in your trading and future plans, may more pips rain on you!

 

[cabletrader]

Quote from FXSnipe:

This is my last post here, I have other engagements from next week which willl keep me busy for some time,

Out of my first short - 240 pips profit , 2nd position is about 80 pips in the money.

All the best to you all in your trading and future plans, may more pips rain on you!

Yep good luck to you as well FXS, may the pips be with you!

 

[Martinghoul]

I am going long EURGBP here...

 

[cabletrader]

Quote from Martinghoul:

I am going long EURGBP here...

You don't get much better than that, 11 pips off the bottom!

 

[usdoutlaw]

Quote from cabletrader:

You don't get much better than that, 11 pips off the bottom!

you should have a forum where your purpose is to be snarky

say I decide to post a trade on the forum and then you do a snarky remark on the trade

it has entertainment value

 

[cabletrader]

Quote from usdoutlaw:


say I decide to post a trade on the forum and then you do a snarky remark on the trade

I think you probably need to read his trade, then look at a chart......he went long 11 pips off the bottom, like I said you don't get much better than that!

Nothing 'snarky' about the remark as far as I can see, you obviously didn't understand it is all.