Best Thread Live Trading and General Chat Lounge

[sweatyslouch]

moving my stop on this one to 12145.

stopped out for 4 pip loss.

 

[sweatyslouch]

taking half proits now at 10266. moving my stop to BE.

Stopped out on second half of position at BE.

 

[jungles]

nice and simple style, no indis i see

Did this come out ok

new_vid - lordflasheart's library

 

[D.Gilberto]

Short EURGBP: 0.78290

Sl:25

 

[D.Gilberto]

enert short: NZDUSD

0.78732

-25 sl

 

[sweatyslouch]

This is my next trade plan.

 

[neil]

Did this come out ok

new_vid - lordflasheart's library

Yes -fine exposition of keeping it simple

 

[D.Gilberto]

Did this come out ok

new_vid - lordflasheart's library

Jesus that dog scared the **** out of me!

 

[D.Gilberto]

Short EURGBP: 0.78290

Sl:25

Out -15

 

[Lord Flasheart]

nice and simple style, no indis i see

I am of total belief that the more indis the closer you are to zero advantage

 

[sweatyslouch]

buying AUD/USD @ 10280. stop 10268. target 10304

 

[Lord Flasheart]

buying AUD/USD @ 10280. stop 10268. target 10304

why at that particular point,thanks

 

[rsh01]

Hi al,
Short AU @288 SL308 TP238

 

[sweatyslouch]

why at that particular point,thanks

Hi Flash, I hope this makes sense. Mind you, its taken me so long to write the chart out that the trade has probably already lost and i end up looking rather foolish!

 

[sweatyslouch]

buying AUD/USD @ 10280. stop 10268. target 10304

closing half profits position now at 10288. widening stop to 10255

 

[D.Gilberto]

closing half profits position now at 10288. widening stop to 10255

Do you take of 1/3rd of the position in terms of its entry to TP (your TP is 24 points and you`ve taken 8 points out right? - fading in and out?)

Why have you widened your stop...

 

[sweatyslouch]

Do you take of 1/3rd of the position in terms of its entry to TP (your TP is 24 points and you`ve taken 8 points out right? - fading in and out?)

Why have you widened your stop...

For arguments sake say i bet £10 per point. My initial risk is £120. i am 8 pips in profit so I close £5 per point on that portion of the bet to bank £40. I now have £5 per point but my stop is now 25 points away from entry. My risk is now £125 minus the £40 i have banked = Total risk £85. If we keep going up to target I will have total banked profit of £160.

In other words Instead of £120 risk I have £85 risk and instead of potential reward of £240 I have potential reward of £160. the RRR's of these trades are 1.89/1 or 2/1. so I have essentially kept the RRR the same but given the trade more room to work.

I don't usually do this but when I enter a trade I want to see it work very quickly in my favour. The fact that it hasn't does not mean that I still don't like the trade, it just means that I expect more consolidation before a move meaning I want i need to give it more room. By taking money off the table I can give it more room without massively changing my potential profit or potential loss or my overall RRR.

Hope my answer makes sense.

 

[sweatyslouch]

closing half profits position now at 10288. widening stop to 10255

I am closing the remaining part of this one now at 10302.

 

[Lord Flasheart]

Hi Flash, I hope this makes sense. Mind you, its taken me so long to write the chart out that the trade has probably already lost and i end up looking rather foolish!

lol never worry about that, Ive been know to clear the thread with a string of losers.
The only ones that look silly are those that come on here and late post etc,you will see many try it in. Your methods are uncannily like mine with regards to entry and MM.

 

[piggybridges]

Not strictly part of my methodology (naughty), but trying a long here at 1.5490
22 pips stop