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

[wallstreet1928]

stopped out for nothing darn it.

that's is why I hate currencies ...........

you have to wait at least 20-30 point before even contemplating amending it to break even

 

[wallstreet1928]

SUJITH my friend

can you advise us on the best technique of utilising stop loss and trailing them on currencies please.

from your infinite wisdom

thank you

 

[bw81]

that's is why I hate currencies ...........

you have to wait at least 20-30 point before even contemplating amending it to break even

Im learning my friend, Im learning

 

[bw81]

gonna have another go long GBP/USD @16000 with 50 point stop, small position

 

[bw81]

Sujith,

I also would hope for advice on a good place for a stop on currencies please?

 

[bw81]

gonna have another go long GBP/USD @16000 with 50 point stop, small position

Going to try setting a trailing stop at 25 point increments to see how that works.

 

[sujithsstorock]

mhy positional short call in ftse 100 at 4177 sl 4213 tgt 4044 running solid

 

[Mr. G]

well, that was an exciting day FTSE-wise.....

approaching a FIB level so may see a bounce tomorrow (for those of us that believe in that sort of thing!)

Somewhat miffed that I didn't have my sell order in at 8160 on the DOW as I was thinking I might. Bl**dy job gets in the way sometimes <heh>

 

[minch]

Long Cable @ 1.5998

Stop @ 1.5978

 

[Tickdoc]

Cable: Based on? I can see it giving more away...not confident to trade it but I'm looking to the June low before I consider Longs...That or something concrete out of the G8!

 

[minch]

Cable: Based on? I can see it giving more away...not confident to trade it but I'm looking to the June low before I consider Longs...That or something concrete out of the G8!

Purely based on a poss bounce from support.

Risk some of the pips made earlier from eur/usd trade

 

[sujithsstorock]

Sujith,

I also would hope for advice on a good place for a stop on currencies please?

eur/usd sl for buyer 13826 safe one.
gbp/usd safe sl 15853 (for buyer)
usd/cad 11816 (forseller)
gold sl 904 as safe for buyer,
silver 12.3 $
crude 59.2 $ for buyer


eur/usd 13893 trail sl for seller
gbp/usd book all shorts here prefered.
usd/cad 16420
gold trail sl 916 $
silver trail 13.33 $
crude 62.8 $

 

[Tickdoc]

@ minch: Shame Mr. China is giving the meeting a miss. I was waiting for him to say something preposterous and give us a massive spike and then a collapse back

 

[Tickdoc]

Speaking of which, I probably agree with you bouncewise, but would rather sell the bounce than try and catch a small flag...

 

[Tickdoc]

and if ur short term you already have a nice 20 pips there...

 

[minch]

Out Cable 1.6010 + 12, quick scalp.

Wife giving me daggers, teas ready lol

 

[wallstreet1928]

eur/usd sl for buyer 13826 safe one.
gbp/usd safe sl 15853 (for buyer)
usd/cad 11816 (forseller)
gold sl 904 as safe for buyer,
silver 12.3 $
crude 59.2 $ for buyer


eur/usd 13893 trail sl for seller
gbp/usd book all shorts here prefered.
usd/cad 16420
gold trail sl 916 $
silver trail 13.33 $
crude 62.8 $

I was referring to stop loss strategies for currencies in general my friend

 

[bw81]

eur/usd sl for buyer 13826 safe one.
gbp/usd safe sl 15853 (for buyer)
usd/cad 11816 (forseller)
gold sl 904 as safe for buyer,
silver 12.3 $
crude 59.2 $ for buyer


eur/usd 13893 trail sl for seller
gbp/usd book all shorts here prefered.
usd/cad 16420
gold trail sl 916 $
silver trail 13.33 $
crude 62.8 $

Sujith,

many thanks my friend, its very much appreciated.

 

[bw81]

closed my GBP/USD for +20 I cant hang around and prefer not to leave an open position on a currency when Im a newbie currency trader. see you tommorrow guys. have a good trading day.

 

[sujithsstorock]

SUJITH my friend

can you advise us on the best technique of utilising stop loss and trailing them on currencies please.

from your infinite wisdom

thank you

oh boy tht was huge one no need of tht much words mate .

well 2day was crude data .crude melted..its magnetic affect brought gold-silver-copper n other metals down..!!

so spx500 also down n ftse 100 since start of month is shouting timber.

currencies have one bad habit. they give u quick 20-30 pips n come back to ur entry price.so i would advice ppl to decide wat sort of time frame they gonna trade..!!

for short term,just wait until previous days high or low is crossed.if goes above high n stays thr till newyork opening, then we state trend is up..!! and vice versa.stoploss is small at 25-30 pips for eur/usd ,aud/usd while 50 or so for gbp/usd.

wat if high or low is updated in newyork hours??
set entry on breakout up or below, at tht time stoploss has to be tht days low or high!! whenever it makes high or low previously has no prob.so if new high or low is made in newyork setting stoploss is large n tgt is small .thts the issue..!! so i dont favour a entry at tht time .

2days example,cable..

it was staying below yesterdays low since opening.(yesterdays low on ig shows 16111).thus one knw general trend on of the day is down. now question is not entry.( i feel the day one can predict the price tht wont show for the day,..he is the one who will keep winning more than loosing. so we have to see where we can set stoploss 1st. )
yesterdays london session low was 16150. good sl. one can look to enter as close to tht levels..!! 2days high was 16138.so 16150 never hit..!!. those who sold near 16150 made money.

now suppose u looking for entry after newyork opening.. then,wait for low to break .set stoploss above high.but then tgt is small and risk is never worth it.but still a good strategy . wake up guys. story finished :whistling