EURUSD Master--- Live Trading CALL

Quote from FCXoptions:

Do you get to watch the market all day or at least occasionally check your positions? If so as soon as you are up raise your stop loss. Use it to guarantee your win. Ive started using them on my option trades and walking them up as soon as it's a winner. Makes me 10 times more comfortable with letting my trade run for longer in case the market reverses faster than I can place a limit order.
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moving stop losses to break even is a good idea and i implement it sometimes, not as much as i should though

just i get greedy thinking if i bump the stop loss get stopped out and miss the next big wave
 
Quote from FCXoptions:

Do you get to watch the market all day or at least occasionally check your positions? If so as soon as you are up raise your stop loss. Use it to guarantee your win. Ive started using them on my option trades and walking them up as soon as it's a winner. Makes me 10 times more comfortable with letting my trade run for longer in case the market reverses faster than I can place a limit order.
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yeah, at work and at home
 
Well if your watching it lower it a little if you need to if you aren't ready to be stopped out.

BUT do not let yourself go into a loss. Take profits while they are on the table. In forex do you have to wait overnight for funds to clear or do they clear immediately so you can reinvest as soon as you sell?
 
Quote from FCXoptions:

Well if your watching it lower it a little if you need to if you aren't ready to be stopped out.

BUT do not let yourself go into a loss. Take profits while they are on the table. In forex do you have to wait overnight for funds to clear or do they clear immediately so you can reinvest as soon as you sell?
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thanks for the advice

actually i do EURUSD futures, yeah they're good to go as soon as you sell
 
Quote from vlpaul:

thanks for the advice

actually i do EURUSD futures, yeah they're good to go as soon as you sell
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That's awesome man! Take profits often then! If you think it might fall back some before running up again sell! Buy back lower and do it again! If your making a profit forget about trading costs. They are irrelevant to an extent if your making enough of a profit.
 
Quote from FCXoptions:

I have a demo account with FXCM. I just shorted 500k at 1.22113. Lol paper trading though so nothing real
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why not trade just one lot?
 
Quote from vlpaul:

why not trade just one lot?
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I don't even know how to do that. I dont know much about Forex trading. I just opened this demo account a month ago to see what it was about. I mainly do options.

Thats why I didn't give any advice on the actual trades just the stop loss part lol.
 
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