Forex ideas

[trackstar]

Quote from BlackBison:

good call trackstar. out at 1.112

gl

thanks, if currencies are your trading vehicle then all you need to know is 2 things.

1. wide stops.

2. look at chart, if price is upward moving then buy, downward then sell.

price has to move 50 pips in my favor before I even move my stop up. You have to understand that currencies print so much that a lot of the action is random and sporadic. The only way to battle this is not using leverage and proper risk management until you get on the right side of the market. Then ride that puppy home.

 

[BlackBison]

wow usd getting hammered fast someone knows something

 

[BlackBison]

hehe trackstar dont worry about me. i was just trading the consolidation channel, usd felt bullish from technicals. i had a very wide stop for my timeframe, i understand that fx is choppy

this move was so fast something must have happened behind the scenes

 

[ivica]

http://tinyurl.com/4ucg4f

 

[BlackBison]

did you stay in the gbp.usd trade? i had a wide stop so im still in. nice call again

target1: 1.85

target2 1.88

 

[ivica]

Quote from BlackBison:

did you stay in the gbp.usd trade? i had a wide stop so im still in. nice call again

target1: 1.85

target2 1.88

no......stopped, but I plan to back and agree with your targets..congrats

 

[BlackBison]

moved my stop a bit closer now, markets too crazy today

yes as you know i use wide stops, whereas you are more of a breakout trader with tight stops right?

of course my losses are about 5x as big as yours but i probably get faked out 5x less

both methods are probably similar in profit in the long run, i just prefer wider stops.

 

[ivica]

Quote from BlackBison:

moved my stop a bit closer now, markets too crazy today

yes as you know i use wide stops, whereas you are more of a breakout trader with tight stops right?

of course my losses are about 5x as big as yours but i probably get faked out 5x less

both methods are probably similar in profit in the long run, i just prefer wider stops.

doing same...and was stopped my inch...my misstake. Agree with you, I have bigger stops too. Imo..can't have tight stops in forx..in that case I will have 10% maximum profitable trades..and not good for emotions. Similar system as yours.

cograts again...and agree on market..very craizy everywhere.

 

[BlackBison]

out of 1/2 gbp.usd near HOD

 

[womblevader]

Hi Ivica

Do you look for set ups for the market open for the weak?

I look for gaps to fade with lose stop. Gaps Usually close before Europeanarkets open

Doesnt gap every week though. If you awake it may be worth having a look.

Cheers