lurkerlurker
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I've had today off for the same reasons. I lost 54 pips yesterday. That is yesterdays loss limit of 30 plus todays loss limit of 30. That counts as 3 losing days in a row, which means I take the rest of the week off. I have the weekend to do some backtesting though. +50 in paper pips from live calls on this thread though, so at least I am doing something right.
Castlemaine 4x. It's a lager! Good deal at Asda.
firewalker99
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how does that count on binary? I mean where did you close in terms of real points on YM? otherwise difficult to compare imo...
lurkerlurker
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Are we seeing the formation of a double top, the second top forming on disappointing low volume, combined with a tick divergence? If I had been at the screen, I would have shorted 90. Sell limit there now, target 1 70, target 2 50, stoploss 705.
Short 2 YM at 90.
Exit half at 70, stop to BE, T2 at 50.
Using 2 contracts with a 15 point stop, so total risk is 30 of my 50 profit. I wouldn't try a trade like this earlier in the day.
Short 2 YM at 90.
Exit half at 70, stop to BE, T2 at 50.
Using 2 contracts with a 15 point stop, so total risk is 30 of my 50 profit. I wouldn't try a trade like this earlier in the day.
brutusdog
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fw, its about 5 points cash, i have found it to be a cheeper way of scalping as i am spreadbetting and wouldn't get anything other wise due to the spread..bit of a risky one but i dropped the trade size
firewalker99
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fw, its about 5 points cash, i have found it to be a cheeper way of scalping as i am spreadbetting and wouldn't get anything other wise due to the spread..bit of a risky one but i dropped the trade size
oh ok
thanks for clearing that up
btw just went long fut 13685
lurkerlurker
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I'm thinking it may have been wise to scale into that, rather than putting on 2 for an entry. A sell stop at 85 may have worked well, with a stop at 700 for the second part of the trade, meaning the same overall risk but only raising the stakes after a move in favour. However, this does limit the upside potential.
brutusdog
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oh ok
thanks for clearing that up
btw just went long fut 13685
the normal 10 point stop and 20 for target?:cheesy:
Cheers!
firewalker99
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hehe stop at 10 points yes
target 25-30 points... if this breaks 13700 we should at least head higher
lurkerlurker
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oh ok
thanks for clearing that up
btw just went long fut 13685
Good luck with that. I hope you don't have a target of 20 though - if it breaks 700 convincingly wouldn't a long still be appropriate, and if it can't break 700 then you may have to take 10 at 95.
There are a lot of large orders taking place at the bid. Nervous longs, or new shorts?
brutusdog
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personally i'd go with longs or shorts getting stopped out...but then i'm often wrong
firewalker99
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I'm ready to take profits at around 25-30 points.
But as you'll probably aware off, I'll leave a part of my position open (usually half) and move stop to breakeven after my target is hit...
lurkerlurker
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I had moved the stop to 20 points from my entry, and revised the target to 60 for both halfs. I don't see this break holding, and I realise that a SL 1 pip above the high is ripe for stop hunting. 710 is a better place for a stop. I'll take -40 if that is hit though, which leaves me with 10 pips for the day. I know you shouldn't move stops away during a trade, but I have reconsidered the target and realised I had set the stop on the basis of tolerable loss, and not on where it should be. 1 tick above the high is not a break. I will be wrong at 710.
Thoughts?
Thoughts?
lurkerlurker
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This is coming back on your entry (and mine). Do you have a BE stop, or is it below 85?
lurkerlurker
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Okay, stop moved back to 705. A test of this level again means my short is wrong. 710 is now too far away.
lurkerlurker
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90 broken, and more blocks changing hands on the bid. RSI divergence present in recent tops, tick failed to break 1000 at the high. I'm a grizzly bear.
