DislikedAnother great day for DIBs guys .
Actually it makes me scared because you cant win all the timeIgnored
no you can't. that's why you gotta try and hit the home runs consistently in order to absorb the small losses that will occur
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DislikedAnother great day for DIBs guys .
Actually it makes me scared because you cant win all the timeIgnored
DislikedArchiphage,
The one thing we are not taking in consideration is that your stoploss order may be bypassed by slippage or price action during the momentum created by significant and/or surprising news.
Thanks for your inputIgnored
DislikedAnother great day for DIBs guys .
Actually it makes me scared because you cant win all the timeIgnored
Dislikednow if only I'd taken that 4hr and added to the postion on the hourly....Ignored
DislikedIt seems today I was on the right side of the news... the start today was so slow (I had DIBS trades in 4 different pairs, but only one of them a free trade after a few hours) that I decided to tighten the stops a little and risk staying in through the news. I lucked out, and now I have 3 free trades running (eur/chf, usd/chf usd/jpy), and would be four if I hadn't screwed up when closing half the eur/usd trade and closed it entirely instead. Those were good pips anyway, no reason to complain.
I am up over thirty pips in each one of the three trades, so I have moved the stops to BE to lock in the profit I already cashed (yeah, could argue about whether this is a good thing or not; I just hate seeing potential profits evaporate. A stronger psychology is needed for the kind of long-term trade this could offer).Ignored
DislikedNice PipA. A few more days like this and you will let some of them ride. Meaning you won't move your stop loss to b/e (keeping your "free trade"). The thing about long term trades is that you will have to get use to your pip amouts going up 300 pips and then down 250 pips . . . and then up 450 pips . . . and then down 150 pips. It just takes time to get use to it.Ignored
DislikedJim..
So true.... I am trying to reach that state of mind with my trades even if I only trade 1micro unit!!Ignored
Dislikedthe problem with long term trades right now in usd pairs is that they are in heavy consolidation and i find my self each day taking opposite directions.
i think it's not a good time for long term trades, the intradays trades give us lots of pips.Ignored
DislikedThis is true.
But no one knows where Price will go. We just want to be riding on some free trades when Price decides.Ignored
DislikedTrailing stop hit at 1.5585 for 13 pips on second lot....had entered at 10am BST with two lots - PT1 @ 22 pips, other to run free. Saw price go up to 1.5622 late this afternoon hitting PT1 on the way, but held finger off the close button as I am trying to discipline myself to allow trades to run....did move stop up to 1.5585 to garner some additional defensive pips against the losing trades in future.
Entries are not really my problem......besides sound money management, I reckon good trading is about developing good exit strategies and managing free runners to extract good rewards. As exits are my problem area, if anyone can point me in the direction of good advice in this matter, I'd appreciate it.
thanks,
ATIgnored
DislikedEntries are not really my problem......besides sound money management, I reckon good trading is about developing good exit strategies and managing free runners to extract good rewards. As exits are my problem area, if anyone can point me in the direction of good advice in this matter, I'd appreciate it.
thanks,
ATIgnored