Ever thought of setting yourself a target for the day and stopping when you hit it? Or even run a stoploss e.g if you get to 100 ticks do not let yourself go below 75, then once you 125 do not let yourself go below 100. Requires discipline but can be very effective.
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Ever thought of setting yourself a target for the day and stopping when you hit it? Or even run a stoploss e.g if you get to 100 ticks do not let yourself go below 75, then once you 125 do not let yourself go below 100. Requires discipline but can be very effective.
2be
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After some retracement cable should continue south, there seems to be plenty of space below cable for a while.
The first possible target zone might be the area between 1.460 to 1.420 (fot the G/U) which corresponds to 61.8 Fib retracement. I would say this zone should be considerred as a minimum. Cable might depreciate much more.
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Bull****. I reckon you were going long due to the multiple IBs at that time.
trader_dante
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When I am in a trade, I look UP a TF but never DOWN.
By this I mean, if I take an hourly setup then I never consider a lower TF than the hourly.
However, if I was to trade on the 1hr TF, I would keep a good eye on the daily to see if it can go further.
Or if I enter on the 5m, I would monitor it on the 1hr and the Daily.
trader_dante
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lol....no the r:r wasn't good enough on them...
I was short here at my firm. Didn't manage to get 400 ticks though that's for sure...
You'll get there Tomo!!
trader_dante
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Just went in ahead of the JC and BOE IR...bought near the top of the range and sold the low...one of those days!
grimweasel
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Thanks Tom & Choc,
Sound advice. I'm self banning from anything lower than 1hr on account of being too emotional at those TFs. Seems I may only have the minerals for the upper TFs. All part of the continued learning.
I have even taken them off my MT4 menu!
Grim
Sound advice. I'm self banning from anything lower than 1hr on account of being too emotional at those TFs. Seems I may only have the minerals for the upper TFs. All part of the continued learning.
I have even taken them off my MT4 menu!
Grim
neil
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Td
Yes, TD warned me about trading lower than one hour. Mind you, I still dabble on one or two minute frame for FTSE😱
just over heard my grandad on the old blower picking up a some shares in this, ive tried to convince him of the merits of spread betting🙂 but he hears the word betting and goes of on one about the dangers of gambling 😕
so any market movers reading.... feel free to jump on board 👍
so any market movers reading.... feel free to jump on board 👍
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glyder
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pelzar - seems a good idea but for me for some reason its easier said than done.
Does anyone know a good thread on money management techniques / stop loss?
grimweasel
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There goes the breach of the 930 level on Gold. Lets see how this level plays out....
trader_dante
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Oil looked oversold and due a pullback at $130, $110, $100, $85, $70, $60, $50...er...$40...it's a bargain now, right?!
2be
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Gold shall provide some good trading setups, it is likely that 930 should become support once tested (RBS principle). I shall establish long position at retracements, with SL below 930. For intra day trading my sentiment is to go long at various retracements too.
I am not likely to take short trades, unless gold reveses well below 930, which is a less likely scenario ATM.
http://www.trade2win.com/boards/metals/52092-trading-gold-2009-a-6.html
Last several days gold has been obeying intraday dynamic cycles based on momentum pretty well. I have only enterred longs, as I thought it was more likely for the breakout to be to the upside.
2be
You should really trade what you see and never against the trend. The odds will be in your favour if you wait for the pull back to occur then trade when it starts retracing back. However I think you're right, might be worth placing an order below with a tight stop and see if it triggers.
trader_dante
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Yes...a few days...and it's seemed like an age...
Looking for 7450 as stated several times.
Although ultimately I see this going to 5000.
And no, I'm not talking this time. I'm actually short.
Infact, I am over 50% margined on this.
When you have no doubts...plunge 😉
trader_dante
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I've always found that just at that time you are feeling so satisfied with your position that you find yourself bragging about it...it's time to CUT AND REVERSE 🙂
No, but seriously, Pelz...you remember how whenever I used to get off the ladder I used to take a screenshot for a dose of confidence building nostalgia at a later date...I usually took that shot right at or very near the low/high of the day.
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