Hotch
Experienced member
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Yeah, sorry if it wasn't clear, what I meant is that I'm rarely in the market with more than one trade, but as I have been continuously wrong about direction today, I'll keep getting out and taking something else if the opportunity presents itself.
Also, distracting myself from some other things.
Also, distracting myself from some other things.
findlay234
Junior member
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Hi Hotch,
Can I ask you what made you go long on EUR/USD at 11:15(BST) today at 12842.2?
- What were your reasons, where did you see the pair going?
- What was your Stop value and what was your take profit if you had one. If you didn’t have one what was your plan for the trade and how were you aiming to take profit?
- What time frame were you looking over at the time?
Just interested because I’m short on that pair currently and have been since 10am. Ill give all the above details for my trade if youre willing to share as well.
Cheers
Fin
Can I ask you what made you go long on EUR/USD at 11:15(BST) today at 12842.2?
- What were your reasons, where did you see the pair going?
- What was your Stop value and what was your take profit if you had one. If you didn’t have one what was your plan for the trade and how were you aiming to take profit?
- What time frame were you looking over at the time?
Just interested because I’m short on that pair currently and have been since 10am. Ill give all the above details for my trade if youre willing to share as well.
Cheers
Fin
Hotch
Experienced member
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Didn't see I forgot to put stops etc on.
1-Fundamentally I'm bullish.
2-Trend wise, I've seen people say we're bullish and seen people say we're bearish, really we've just ranged over the summer, but as fundamentally bullish, mainly want longs.
3-Had a very large bar down, and there wasn't enough reason for it. I've got into this (very bad) habit of trying to trade patterns before they appear, was expecting at least a retrace, and quite possibly a high past the previous hour high.
Not sure if I mentioned it here, have to friends, that I decided against this pre entry targets, I really need to re evaluate what the market is doing at each spot, so I will wait for 129, see what I think, then 1.3, 1.32 etc (if it gets that far, and I'm in, rather unlikely)
As for stops, my stop was 12835, but that is due to the way I trade, my "real" stop, would be 1.2828.
I like stops really tight, I am much happier buying with a 5 point stop, being stopped out 3 times, and then hitting 100 pips, then entering with a 30 point stop and catching the same move.
So I would decide I'm wrong and stop entering at 12828, and rethink the situation.
Short at 10 seems valid though, rejection of a round number. big rejection on 4 hour, but that's both ways. It's what makes a market I guess.
Also, I look at all the charts at once and gain a feel of the macro market, I couldn't possibly tell you what I was thinking at the time though because I'm awful.
In conclusion: don't listen to me, I suck!
1-Fundamentally I'm bullish.
2-Trend wise, I've seen people say we're bullish and seen people say we're bearish, really we've just ranged over the summer, but as fundamentally bullish, mainly want longs.
3-Had a very large bar down, and there wasn't enough reason for it. I've got into this (very bad) habit of trying to trade patterns before they appear, was expecting at least a retrace, and quite possibly a high past the previous hour high.
Not sure if I mentioned it here, have to friends, that I decided against this pre entry targets, I really need to re evaluate what the market is doing at each spot, so I will wait for 129, see what I think, then 1.3, 1.32 etc (if it gets that far, and I'm in, rather unlikely)
As for stops, my stop was 12835, but that is due to the way I trade, my "real" stop, would be 1.2828.
I like stops really tight, I am much happier buying with a 5 point stop, being stopped out 3 times, and then hitting 100 pips, then entering with a 30 point stop and catching the same move.
So I would decide I'm wrong and stop entering at 12828, and rethink the situation.
Short at 10 seems valid though, rejection of a round number. big rejection on 4 hour, but that's both ways. It's what makes a market I guess.
Also, I look at all the charts at once and gain a feel of the macro market, I couldn't possibly tell you what I was thinking at the time though because I'm awful.
In conclusion: don't listen to me, I suck!
findlay234
Junior member
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Well ive been stopped out. I was basically hanging for a range trade. The pair have been bouncing around for a few days. Was planning on shorting after the resistance around 1.2900 last night. The german news came in this morning and I got into the trade as it started moving down. My stop is a little wider than yours. I placed mine above the 1.2900 channel top. I should have noticed that the bias was bullish when the good US news this afternoon came out and didn’t move the market at all. Oh well now a little more bullish. Looking for 1.29 to be an area of support and ill comtemplate getting in on the long side. Im still happy with my reasons for the short trade this morning.
Hotch
Experienced member
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Follow up to my explanation of stops, my trades today on eur/usd were:
Entry...........Exit
12842.20......(original, still running)
12853.80......12846.80 (-7 pips inc spread, half size)
12861.40.......12854.40 (-7 pips inc spread, half size)
12854.70.......(still running, half size)
12857.80.......(still running, half size)
Of course, uber lucky today, ignore the move, just the idea.
Entry...........Exit
12842.20......(original, still running)
12853.80......12846.80 (-7 pips inc spread, half size)
12861.40.......12854.40 (-7 pips inc spread, half size)
12854.70.......(still running, half size)
12857.80.......(still running, half size)
Of course, uber lucky today, ignore the move, just the idea.
Waterfield
Well-known member
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bump
