short EUR/USD...
- Thread starter empee
- Start date
Right, as I said, JPY 2 years new high and EUR bottom break happened at the same time...
Hope Maria's stoplimit worked ok.
Hope Maria's stoplimit worked ok.
So, this indicates that USD is clearly strong against both JPY and EUR. JPY broke 115 and now quicky reached 116. This is still in the trends as you guys see in the charts above, and broke certain significan multi period level at the same time. Follow this trend if it's not intraday trade.
Mentioned that I do not use stop limit. I went out when the upwards move stalled and then started to retrace at 77. Proceeded to place two stop sell orders: one at 60 and the other at 55. Thought a 10 pip profit target was justifiable. As it turned out I got filled at 55 & 50 and got out at 21 and 19. Talking about some slippage....now have another note to write down in the log.
Not a bad day, had already 22 pips from the open but this makes it just a nice one. Waiting for the bounce before going short again.
Thanks for your help (would otherwise not have given too much thought towards reversing).
Maria
>I am looking at longer term, those who are looking at the intraday only are like a 16 year boy on first date.The slightest movement and all kinds of things start jumping.
well, sounds like your 10pips or 22pips talk is clearly about intraday trades.
Which statement is true and your style??
well, sounds like your 10pips or 22pips talk is clearly about intraday trades.
Which statement is true and your style??
Although the big money is in the longer timeframe I am not tied to it.
It is the Reward : Risk ratio of the immediate moment and in which channel I see an opportunity.
Much like Jack Hershey is advocating in his "maximum money velocity".
My system has not given a confirmation that we are in the downward channel again and as such am I not establishing a long term position (short). I still see the market as going in a sideways fashion. Once I see the next high pivot then I know what is happening. It may have been different if this was during the RTH, at the moment the market is going pretty much sideways.
The channel to be traded determines the stops / targets and R:R and sometimes it is OK to trade the smaller channel and not the larger. A very dynamic and adjustable setup that sofar has withstood the test of time.
(Sometimes I have only 1 trade in a week and at other times I have several shorter trades in a day.)
Hope this explains
Maria
edit: Is there anything wrong with trading multiple timeframes? If so then please let me know why that would be the case.
Quote from Deptrai:
What is the deal with this 16 year boy on a first date simile?
When a boy is on his first date then when he touches the girl (or gives her a kiss) then some parts of his anatomy may take on a life of its own.
Similarly in trading: When there is a large sudden move greed and panic take hold of some traders (they get jumpy) and they just cannot help themselves but make the wrong decision.
As Jessie Livermoore would say: A man who is right about the market and can sit tight is uncommon.
Maria
Question:
just saw in 1 second about 80 trades go through (03:20:05 CST). (several hundred in a period of less than 5 seconds). What is causing such a rush of trades, are this robots or stops triggered?
Thanks
Maria
just saw in 1 second about 80 trades go through (03:20:05 CST). (several hundred in a period of less than 5 seconds). What is causing such a rush of trades, are this robots or stops triggered?
Thanks
Maria