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

Quote from increasenow:

talk to me Cabletrader...seriously...why are you against trailing stops?...hmmm...seems they are not so good after all?...also, I think I need to widen my stops...thoughts?...Inow...
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I may be wrong (and ask Cable, as he knows that I do not see the Big Picture) but if you are going to scalp, scalp.

Also, I have to agree with Cable on this: If you have a 20 pip profit, then you should not lose money. I play for bigger swings than Cable does, but once a trade moves +20, my stop moves to BE on most trades. There are guys who try all week and can't make 20 pips. Why lose 20 on a trade where the market had been willing to give you +20 at one point?
 
Quote from ddaytrader:

If you have a 20 pip profit, then you should not lose money. I play for bigger swings than Cable does, but once a trade moves +20, my stop moves to BE on most trades. There are guys who try all week and can't make 20 pips. Why lose 20 on a trade where the market had been willing to give you +20 at one point.
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As an example, I shorted the GBPUSD this morning at 1.6473 and my initial stop was at 1.6520, for -47 pips. Price declined into the low to mid 1.6455x range. At that point, I brought my stop to breakeven. Now, I still call it a losing trade for my records. But as far as its impact on my equity, the result was +/- $0.00

Of course, Cable would likely accuse me also of being criminal, letting a 20 pip profit run to zero, though I would hope he'd onlycharge me with a misdemeanor while charging you with a felony:)
 
Quote from ddaytrader:



Of course, Cable would likely accuse me also of being criminal, letting a 20 pip profit run to zero, though I would hope he'd onlycharge me with a misdemeanor while charging you with a felony:)
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Oh eh, you're already sentenced to life+20 for trading with FXCM :p

I would take 20 pips, or less, but you trade a different style. Zero is fine by me, I'd call it a free trade, very sensible if you ask me.
 
you know...I am beginning to think about trading with 'no stop'...increasing the cash $$$ in the account and forgetting the stops...honestly...as you have the mentioned, most of my trades and directions are 'spot on' no pun inteneded...it is is JUST the STOPS taking me OUT!!!!....
 
Quote from increasenow:

you know...I am beginning to think about trading with 'no stop'...increasing the cash $$$ in the account and forgetting the stops...honestly...as you have the mentioned, most of my trades and directions are 'spot on' no pun inteneded...it is is JUST the STOPS taking me OUT!!!!....
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Hang on, you'll need one of these.....

hang.gif
 
Quote from cabletrader:

Oh eh, you're already sentenced to life+20 for trading with FXCM :p
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I think FXCM is being made to wear a black eye that all forex brokers deserved in the early days (and many still do).

I have had only one trade issue with them due to a system issue on their end, and as I said yesterday, not only did they make me whole, but they gave me an extra $25 for my trouble. Now, $25 is not much at all, but if you listen to some folks who complain about FXCM, you'd have thought it more likely that they would have charged me an extra $25 just for submitting the complaint!

I do remember the old days as well (I still have a well-funded account with Refco, it you get what I mean), but FXCM has changed alot since the days of the perpetual requote and cancelled trades. And the spreads on the micro account cannot be beat. EJ is usually 1.2 and I have seen it as low as 0, and the same goes for the EU. The GU is usually 1.8, but I have seen it less than 1. In fact, as a scalper, I'm surprised you haven't given them another look.
 
Quote from increasenow:

you know...I am beginning to think about trading with 'no stop'...increasing the cash $$$ in the account and forgetting the stops...honestly...as you have the mentioned, most of my trades and directions are 'spot on' no pun inteneded...it is is JUST the STOPS taking me OUT!!!!....
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Ok, now I'm starting to suspect that you're a complete phoney and that you started this thread to see how long you cold string along and fool us good natured folks who'd like to help you out.

Not for nothing, but that is what a stop is for - to take you out!

Instead of doing the trading equivalent of Russian Roullette, why not slow down and learn to trade instead?
 
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