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[xelite777]

Bought NZD/USD at 0.8670, 33 pip stop.

This trade was closed at break-even. The price went as high as 0.86951 (more than 25 pips higher) before the reversal.

As previously noted, my stops are automatically moved to break-even after a 25 pip move in my favor, or when the currency has already moved more than 25 pip without triggering my buy/sell order first (meaning the price came 2 to 3 pips near entry point and then moved in the expected direction without me).

 

[xelite777]

Bought EUR/NZD at 1.5863, 52 pip stop.

This is a double-risk trade, meaning each pip is now worth 2 pips, win or lose.

In other words, if the stop is triggered for example, then real loss = 104 pips (2 times 52)

 

[xelite777]

Bought AUD/CHF at 0.8335, 32 pip stop.

 

[boskop]

Bought EUR/NZD at 1.5863, 52 pip stop.

This is a double-risk trade, meaning each pip is now worth 2 pips, win or lose.

In other words, if the stop is triggered for example, then real loss = 104 pips (2 times 52)

No, it should not be double-risk. Why do you not focus on risk per trade, rather than pips per trade?

 

[xelite777]

No, it should not be double-risk. Why do you not focus on risk per trade, rather than pips per trade?

Not sure I quite understand your comment, Boskop.

All I am saying is that I am buying 2 units of EUR/NZD, instead of the usual 1 unit.

 

[boskop]

Not sure I quite understand your comment, Boskop.

All I am saying is that I am buying 2 units of EUR/NZD, instead of the usual 1 unit.

..which exposes you to roughly twice the risk, right? What I mean is, that as far I understood your strategy, is that each trade should expose you to the same amount of risk (i.e. capital to lose). If you go for twice the pips in EUR/NZD to risk, then you risk more capital than you should

 

[xelite777]

.If you go for twice the pips in EUR/NZD to risk, then you risk more capital than you should

Yes, but I double the potential reward too, it works both way.

Anyway, EUR/NZD position has now been closed at the same price as entry price (no loss, no gain).

Waiting for more confirmation to re-enter long position...

 

[xelite777]

I left my long EUR/NZD and long AUD/CHF positions open for almost 3 hours (on purpose) and yet nobody said :
"Yo, Xelite777, do you know how stupid your 2 positions are? You initiated two long positions on 2 negatively correlated pairs, you fool!"

Come on guys, you are sleeping or what?

(anyway, one of the position has been closed, of course)

 

[Wide Tailz]

We are not impressed with your performance.

 

[xelite777]

Bought AUD/CHF at 0.8335, 32 pip stop.

Trade has been abandoned at 8820, 15 pip loss.

Buy EUR/NZD at 1.5865 on a limit, this a re-entry order.