EUR/USD & GBP/USD & AUD/USD Forex Trading

Quote from cabletrader:

Yeah man, I was a slow learner and stubborn, in fact it took two or three blowups before I got the money management message :)
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+1

blew $10,000 in 5 hours till I got that message too.
 
Quote from sakhter:

+1

blew $10,000 in 5 hours till I got that message too.
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:eek:

It took me a little bit longer to blow 10k, not that much longer though I must admit!

It's nice to see I contributed something towards this :)
 
placed real trade @ 3:21CST

short 1 GBP/USD @ 1.6542

stop: 1.6577
target: 1.6442
trailing stop engaged

GBP, EUR way overbought and CHF way oversold...should see sell-off starting about now into Asian and overnight...
 
Quote from sakhter:

so you gave away $100M ;)?
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lol, I wish I had it to give away!

Nah, I probably paid for all his holidays in '96 and '97 though. No wonder he was the richest man in the City, back then they were robbers and I was green, a perfect combination....for them!
 
Quote from increasenow:

placed real trade @ 3:21CST

short 1 GBP/USD @ 1.6542

stop: 1.6577
target: 1.6442
trailing stop engaged

GBP, EUR way overbought and CHF way oversold...should see sell-off starting about now into Asian and overnight...
More...

how are you basing over-bought/over sold conditions?.. And if so, I don't believe "over-bought & over-sold" should be the sole rational basis for you to enter short.

I bought GBP earlier this morning at $1.6477 & holding till $1.6608 with stops @ $1.6455. GBP can potentially go to $1.6703 if EUR decides to rally to 1.43 today or tomorrow.

If I were you, I wouldn't short when it is a deliberate uptrend.

if GBPUSD closes above $1.6549 I am bullish to 1.6608.. might see some profit taking at that level..
 
Quote from increasenow:

placed real trade @ 3:21CST

short 1 GBP/USD @ 1.6542

stop: 1.6577
target: 1.6442
trailing stop engaged

GBP, EUR way overbought and CHF way oversold...should see sell-off starting about now into Asian and overnight...
More...
I adjusted this trade @ 4:38pm CST

stop: 1.6562
target: 1.6502
Trailing stop:
distance: 10
step: 30

Questions: do any of you use trailing stops? if yes how and what ratios?...like what I did above?
 
Quote from sakhter:

how are you basing over-bought/over sold conditions?.. And if so, I don't believe "over-bought & over-sold" should be the sole rational basis for you to enter short.

I bought GBP earlier this morning at $1.6477 & holding till $1.6608 with stops @ $1.6455. GBP can potentially go to $1.6703 if EUR decides to rally to 1.43 today or tomorrow.

If I were you, I wouldn't short when it is a deliberate uptrend.

if GBPUSD closes above $1.6549 I am bullish to 1.6608.. might see some profit taking at that level..
More...
wow...you must use serious huge stops...what 100-200 pips...or...you are just a very good trader...as for the overbought/oversoled...just looked at a 4 hour chart over the days...any more move up for euro and gbp and down for chf would mean 'into new territory'...therefore...I think it is oOB and OS...thoughts?
 
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