BlueChilli
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If you believed in yourself you would find a way.....15, I'm impressed, you may be hitting your peek 20 years too ealry
isn't this site PG rated because of language?
If you believed in yourself you would find a way.....15, I'm impressed, you may be hitting your peek 20 years too ealry
isn't this site PG rated because of language?
BlueChilli
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that's it, I'm opening that second bottle of red wine and if that does not work I have a big bottle of out of date green pills somewhere.
, I'm opening that second bottle of red wine and if that does not work I have a big bottle of out of date green pills somewhere.
N Rothschild
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And you have suffered horrible losses on occasion as well
I generally use 25 pips on UJ, 30 on EU and 35 on EJ/GJ .. I place multiple orders all over the board at each s/r. I've spent the last 6 months or so trying to perfect the technique because it is far better margin management.
If you're sitting in front of your computer all day trading there is no point watching your margin shrink. You can easily re-enter the market by clicking a button and regain your losses or minimize further losses. The spread on Euro in particular is not worth crying over.. it's 2 pips compared to 150. The only reason you would need to use a large stop on an intraday trade is if you're not going to be there to watch the trade, or there is additional s/r which you could utilize by placing the stop a bit further. Otherwise you are watching your margin shrink for pure entertainment value only and it isn't very entertaining. It also ties up available margin so that you cannot make simultaneous trades in other pairs. It is also very annoying to be underwater for an extended period of time.
Taking a 240 pip loss on a day trade is beyond foolish. I realize that there is more than one way to skin a cat, but taking a 240 pip loss on an intraday trade just doesn't make any sense. I can understand losing 240 pips when you're shooting for 1,000 on the dailies, but taking a 240 pip loss when you're shooting for something on the hourly charts is devastating. Mathematically you are far better off sitting on the sidelines and waiting for spot to arrive at a new s/r in order to re-enter the market. A lot of traders are worried about missing out on a trade and so they use a huge stop to ensure that they aren't stopped out before a favorable reversal. I've said this before, but I'll say it again. If you get stopped out -30 pips and then spot reverses in your favor for 100 pips the real world result is that you have lost 30 pips. You will get another chance to get into a good trade. However, if you are stopped out for -240 pips then the real world result is that you have lost 240 pips amd you might not easily get over that, or you might be forced to use smaller trades for a period of time for lack of margin. In a 24 hour per day market there really isn't any such thing as missing out on a trade. A new trade will be there tomorrow, but if you take huge losses on a regular basis you won't be.
Also, to respond to my little teenage troll buddy. If you spend your days watching tickers and you're using 10 cents per pip I would really hope that you plan on increasing your leverage in the future or you will effectively be earning as much as a fruit vendor in Haiti. I understand that welfare benefits in Britain are cushier than they are in the US, but at least try to make some money. So if you ever plan to make a career out of trading please don't tell me about your lame low-leveraged swing trades because you won't be able to pay your mortgage on 10 cent per pip infrequent trades. It's fine to day trade with low leverage as long as you are in the process of learning or are seeking a little extra spending cash only, but eventually I would hope the goal is to use at least $50,000-$100,000 trades if you want to make a living as an adult trader.
Many of our former thread participants have used much more leverage than this, but they are wiped out and have disappeared
that loss you refer to had nothing to do with stops
anyway there is more than one way to skin a cat
Pippy5000
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Thanks BC, but hold off suicide for just a little while longer. Annoyances breeze through the thread occasionally and either get the hint after a while or are banned.
Also, I don't think a 15 year-old is even allowed to open a live account until he is 18. Might be wrong about that.
Gene,
yup.. as long as you skin 'em
Also, I don't think a 15 year-old is even allowed to open a live account until he is 18. Might be wrong about that.
Gene,
yup.. as long as you skin 'em
I'm also expecting that kind of move, because if you believe that market is manipulated (more or less) they must suck in the crowd to go long before the great fall
I see reversal at USD 72.9 (although the bounce can occur from 74) , tradable pullback in gold 1174
Pippy5000
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Does anyone know if the option at 1.48 has expired?
My plan so far is to grab Euro around there with a stop below trend line.. I think if it breaks the trendline it could take quite a spill. The last few Sunday afternoons have been brutally silly.
My plan so far is to grab Euro around there with a stop below trend line.. I think if it breaks the trendline it could take quite a spill. The last few Sunday afternoons have been brutally silly.
BlueChilli
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The only option I was aware of expired Friday just gone, which was the large double no touch...can't be sure if there was any other though. Buy orders from 1.4775 to 1.4796 look good to me and would be the minimum entry level I would allow myself to trade at..
Masquerade
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N Rothschild
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masgayrade
