chrisw said:Gullible's not in the dictionary you know
marmoset said:Right, back at home, went short at 35, going into "decaying sine" mode
marmoset said:Closed out at +14: -6 for the day.
tm.appleby said:Marmoset
“short at 35” I take it your not referring to your age here..
"moved sl to 33” ? .
tm.appleby said:Marmoset
Hi.
I am new (very new) to observing trading of any kind.
Can you please explain what the purpose of that exercise was?
“short at 35” I take it your not referring to your age here.
“moved sl to 33” ?
How much money was gained from this trade.
Try a bit of studytm.appleby said:There goes that "PIPS" thing again.
Still learning what a pips is.
but thanks I'll pick up on this soon.
marmoset said:OK, you're REALLY green OK, here's some of the lingo:
the currency pair referenced in this thread is cable (used to be traded on the Transatlantic (bottom of the Atlantic phone/morse cable, arbitraging dollar against sterling) Cable.
It's noted as GBP/USD.
Short: you sell, in this case the major currency: GBP, or you buy dollars at the same time
Long: you buy GBP, you sell dollars at the same time
On the chart, short means direction intended: DOWN, long means UP
sl stands for stoploss: the point where you are automatically closed out, your safety net.
When I go short at 35 and can move my stoploss to breakeven (abbreviated b/e, at that entry level, b/e is at 35), I've got a "free" trade, i.e., if I get stopped out, I didn't lose any money.
sl to 33 means I'm two pips "in the money", come what may. :cheeky:
Oh, and it's inappropriate to ask how much loot I made. It depends on what size of position I took and frankly, putting that up is not relevant, as everybody has a different size account, trades different sized lots (according to his rules for money and risk management).
To be able to compare results, not apples to oranges, we just note our pipcount and leave it at that.
tm.appleby said:Thank You marmoset,
This is the first time (from yesterday)I have seen the trading of anything. Its worse than learning a new language. But, thanks for your time and the info.
Good look with your trading.
TM
rols said:Mr. Appleby
You may be interested in reading this!
Good luck!
marmoset said:SL moved to 28
marmoset said:And on to 30, trailing every pip, closing out where I think the top is
tm.appleby said:Mr Bumble,
You seem to be continuing to harass me, in such a way as to be inflicting considerable stress upon myself.
I must ask you to desist this course of action forthwith.
Let it be known by all who read this, that, from the outset yesterday and upon my registering as a member here and promptly posting a request for information, I was approached by Mr Bumble who then took a verbal swipe at me and copped me one right in the nuts.
Why he should feel so inclined escapes me.
TM.Appleby
tm.appleby said:Gotcha marmoset,
LURK, READ, LEARN.
Mums the word.
I hope the bad day "low pips count and all" wasn't down to me, you know taking your eye off the ball so to speak with my silly questions.
marmoset said:Yep, was replying to you when my position went south after the initial long. Not blaming you, after all, it's up to ME to decide whether to respond or to eyeball the rate. And it's also up to ME to manage my position. There's noone to blame but ME, and that's how forex works. Them elephants don't care :|
It wasn't a bad day, covered my losses, tomorrow's another day. Happens all the time. Don't go for the killer upper cut to the jaw of the market. It's a 15-round fight, each and every day. All you want to do is eek out enough points to stay upright for the next round, until that golden opportunity arrives and you ride your position to the max.
jonny.shine said:Seems to me if you are any kind of pro trader then you would not be exposing yourself to unnecessary risk. If you where one of my traders you'd be out the door fast.
Pull yourself together man. Don't go blaming others for your bad practice.
shine
jonny.shine said:Seems to me if you are any kind of pro trader then you would not be exposing yourself to unnecessary risk. If you where one of my traders you'd be out the door fast.
Pull yourself together man. Don't go blaming others for your bad practice.
From what I can see your a nervous trader (trading on your nerves) That's scared money.
shine
This is a traders thread for people who want to trade. It is not for self serving system peddlers and believe me you will not be tolerated.marmoset said:Not blaming you, after all, it's up to ME to decide whether to respond or to eyeball the rate. And it's also up to ME to manage my position. There's noone to blame but ME, .