Weekly Thread: July 20-25

rezo_s · Jul 23, 2003

stop: 2.1815
tgt: 2.1250
risk: 126 pips (3.7%)
reward: 439 pips (12.8%)

Good Luck.

rezo_s · Jul 23, 2003

The market is uncertian about the majors, and this fact could play well on my trade. Anyway, the trade is not secure yet, and I wouldnt like to play games with such a volatile pair. We got as low as 2.1620 - and thats 70 pips in favor of my trade. I think moving stop to entering point is reasonable now. After it was 70 pips in my favor is it acceptoble to take loss on trade if it returns now? of course not. So - stop moved to opening point. Form now on its profit or no loss trade.

rezo_s · Jul 23, 2003

Trade stoped at b/e, and now heading down - it was a kiss goodbye. No loss, so no harm done.

rezo_s · Jul 24, 2003

order: buy EURGBP @7080, stop @7040, tgt 7190

rezo_s · Jul 24, 2003

Moving order 5 pips higher - 0.7085 same tgt&sl

OddTrader · Jul 24, 2003

Quote from rezo_s:

Another possible trade to look at is long eurgbp. Possible entry area 7080, stop around 7040, targeting 0.7220. Ratio 1 : 3.5.
Once again, no orders. Waiting for confirmation to enter.
Reward ~ 4.5%
Risk ~ 1.3%

best

Great thread indeed, Rezo. Your ratio approach is interesting.

What would be the confirmation in general you wait for, or particularly this time?

Why did you change the target lately to 7190 from 7220? (So you prepare to accept lesser profits after a confirmation?

)

rezo_s · Jul 24, 2003

Quote from OddTrader:

Great thread indeed, Rezo. Your ratio approach is interesting.

What would be the confirmation in general you wait for, or particularly this time?

Why did you change the target lately to 7190 from 7220? (So you prepare to accept lesser profits after a confirmation? )

Hi, OddTrader.
My target is changed, as another day passed after I began seeking the entry. That may harm to potential of expected move. I prefer defining real targets which have potential to be reached. At the moment, I see potential is less, so I am targeting lower, but for sure. Trade doesnt neccesary has to be closed at tp. Once the price aproaches my target and I see nothing is indicating the move may return, I may hold the position, but usually I prefer closing on pre-defined level. That's it.

Good Trading,
Rezo.

OddTrader · Jul 24, 2003

Quote from rezo_s:

Trade stoped at b/e, and now heading down - it was a kiss goodbye. No loss, so no harm done.

Would you usually consider to re-enter (not neccessarily immediately) an order after this kind of stop out?

OddTrader · Jul 24, 2003

Quote from rezo_s:

Hi, OddTrader.
My target is changed, as another day passed after I began seeking the entry. That may harm to potential of expected move. I prefer defining real targets which have potential to be reached. At the moment, I see potential is less, so I am targeting lower, but for sure. Trade doesnt neccesary has to be closed at tp. Once the price aproaches my target and I see nothing is indicating the move may return, I may hold the position, but usually I prefer closing on pre-defined level. That's it.

Good Trading,
Rezo.

That's OK. How about stop loss, as I suppose you would use different stops (50-100 pips) for individual pairs?

OddTrader · Jul 24, 2003

Quote from rezo_s:

Well, you see, my average risk per trade is 2%...and thats the reason my trading is safe.

Obviously your weekly analysis report covering perhaps some correlated pairs, imho.

How do you evaluate the correlation of your trades in order to control risks, say 2% per (single?) trade?

Otherwise, you overall position could be ending up several times higher than 2% some days.