Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders

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lapalabra said:
Mate, I do that *all* the time.

Have to develop a strategy that leaves something in the middle. Trends can go on for ages and trailing stops are ideal for these kinds of plays.

My AUDJPY I left overnight from 7540 was the same - but as you can see the problem is when the pullback seems hard but the trend on a higher TF stays intact.

I'm spending a lot of time trying to sort this out, it takes little of my actual time at the computer trading once the trade is under way - which is great cos I'm the biggest obstacle to my trading!
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I agree!! I tend to meddle with the positons, which Im really struggling to avoid, I cant seem to walk away from the screen when in a trade.
 
lapalabra said:
Holy....I chose USDCHF this morning cos I had a better set up and made 40pips on the move this morning past 10700, but exited and hadn't looked since...

Oh man oh man...this is what I mean about keeping something in a winning trade on forex....I would have been over 240 pips.

No idea whats behind it, can't see any events on the calendar, looking into it now...
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The Swiss franc dropped against the euro amid speculation bank officials sold the currency to curb its advance.
 
robinc said:
Yup.. Long 4220 .... :sleep:
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Messy business but could i pick your brains Robin?

I was wondering what time you went long at 4220? If it has been for a while I was wondering whether you had considered taking some profit say at 4240 and then buying a new long position on retracement? That way you would have banked some profit and would have been able to bank more profit on the next rise.
I understand that you could have missed a longer play but also you could see the market come all the way back down and erase any profit at all.

I was wondering whether you could give me your thoughts as i appreciate everyones view point.

Thanks in advance:)
 
The FTSE is in a lull at the moment, waiting for it to move more significantly.
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Def agree with that!! :sleep:

Maybe the figures realeased this afternoon might get things moving.
 
Messy business but could i pick your brains Robin?

I was wondering what time you went long at 4220? If it has been for a while I was wondering whether you had considered taking some profit say at 4240 and then buying a new long position on retracement? That way you would have banked some profit and would have been able to bank more profit on the next rise.
I understand that you could have missed a longer play but also you could see the market come all the way back down and erase any profit at all.

I was wondering whether you could give me your thoughts as i appreciate everyones view point.
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Early this morning around 8am ish if I remember rightly.

To answer your question about taking some profits; I def agree with what your saying but I set myself a target of yesterdays high of 4265 when I placed the trade and 4210 looked like a pretty good support level so I was happy to sit it out and see. I try and take myself away from the charts for a while too as I tend to get impatient and then make silly decisions :cheesy:
 
robinc said:
Early this morning around 8am ish if I remember rightly.

To answer your question about taking some profits; I def agree with what your saying but I set myself a target of yesterdays high of 4265 when I placed the trade and 4210 looked like a pretty good support level so I was happy to sit it out and see. I try and take myself away from the charts for a while too as I tend to get impatient and then make silly decisions :cheesy:
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Cheers Robin
 
robinc said:
Yup... gonna hang on in there I think :cheesy:

SL trailed to b/e
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i have a resistance level at 4254 which also happens to be a FIB 23.6% and the FTSE closed above that on the last 10 min bar. if we get another couple of closes above it, we should see yesterdays high.
 
does anyone know if the US crude oil inventory data(3.30 today) has been able to move the price of BP ?
 
i guess it was good news for the yanks then.
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Yeah durable goods up 1.8%.. 3rd increase now which is good news! :D New home sales and rate decision to come... Will be interesting me thinks!!
 
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