My Live trades

This is a discussion on My Live trades within the Trading Journals forums, part of the Reception category; set 70 SL initially on cable. Again will exit probably ahead of non-farm news at 1.15...

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Old Oct 6, 2010, 11:59am   #521
Joined May 2010
Re: My Live trades

wirraltraders started this thread set 70 SL initially on cable. Again will exit probably ahead of non-farm news at 1.15
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Old Oct 6, 2010, 12:01pm   #522
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Re: My Live trades

wirraltraders started this thread nicely in profit now on fiber as the squeeze gathers momentum..
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Old Oct 6, 2010, 1:10pm   #523
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Re: My Live trades

wirraltraders started this thread v volatile today ahead of US jobs news. Adjusting SL on both temporarily to 125, will adjust back later
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Old Oct 6, 2010, 1:37pm   #524
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Re: My Live trades

Quote:
Originally Posted by wirraltraders View Post
I think I will once again ask the Mods to remove this guy's post.
By all means do so, as long as you also remove your own posts wherein you lied, claiming that I had posted a link to a bestiality site.

I only made reference to my earlier post to highlight the fact that you had lied.

Doubtless you will struggle to grasp the meaning of this entry, as you did with my earlier one that made you look foolish.
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Old Oct 6, 2010, 1:38pm   #525
 
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Re: My Live trades

You say you risk 3% on trades or combination of trades but when you start increasing your sl during a trade, you are increasing your risk, so your initial 3% risk is getting close to 6%?
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Old Oct 6, 2010, 1:44pm   #526
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Re: My Live trades

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Originally Posted by wirraltraders View Post
I have searched his previous posts and I cannot find anywhere a single constructive post elaborating on trades or trading.
I do not doubt that what you say is true - sadly, searching for something is of little benefit if one is unable to recognise what it is that one is searching for.
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Old Oct 6, 2010, 2:14pm   #527
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Re: My Live trades

wirraltraders started this thread setting 150 SL ahead of news in case of greater than expected volatility
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Old Oct 6, 2010, 2:18pm   #528
 
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Re: My Live trades

may I ask why you don't just close out and wait :S
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Old Oct 6, 2010, 2:30pm   #529
Joined May 2010
Re: My Live trades

wirraltraders started this thread
Quote:
Originally Posted by wirraltraders View Post
setting 150 SL ahead of news in case of greater than expected volatility
As it happens I never needed even needed the intial 70 pips which on 2 pairs is approx 1.6% for the trades on my account. I trade £20.00 pp on a spread platform (tax free) or £10.00 pp (same as Lord Flash) per point on 2 pairs. So by resetting I went to 3.3ish%. Volatility is something you have to account for occasionally though, you are correct there. Basically the premise is, v fast price movements are not usually sustainable (unless a plane has hit the Pentagon). "news candles" as I call them happen, look dramatic for a short while, then the market simply gets on with what it was doing and going to do anyway, so I will temp set and then reset SL. Do it all the time. My attitude to volatility of that nature is pretty laid back, been there before many many times..

Look at the hour candles last week on cable during that v volatile period I also commented on 100 point volatility during the day. Just draw a line through the middle of all of them and the market just continued in the same direction
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Old Oct 6, 2010, 2:51pm   #530
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Re: My Live trades

wirraltraders started this thread
Quote:
Originally Posted by scose-no-doubt View Post
may I ask why you don't just close out and wait :S
I probably would normally as you know, but several things kept me in fiber today. Basically the underlying fundamentals (Chinese buy euro bonds and trashed US economy) and the support area of 13800 I mentioned earlier (it got to within 1 pip of that and rejected as expected). Just had a long skype convo with someone and I will say the same to you as I said to him at around 1.00pm - ahead of the news. The v fast drop you saw on fiber ( see previous post on fast price movement) was the market building in the expected better jobs figures as forecast. Its sell the rumour buy the fact. I then said to him, if the figures are as expected, the market will end up going up, if they are worse than expected, the market will end up going up. So I saiud, expect a drop followed by more buying. Cable is just a much more volatile version of fiber. If fiber has had a big fast drop, then cable will too. Its has just dropped way beyond the 3 deviation. The stats are that is only sustainable for about 2% of the time on price. Once the dust has settled and the market has calmed down, then we shall see..
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