FetteredChinos
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try the 2nd prior swing point, rather than the prior swing low..
markets generally move to take out stops..
markets generally move to take out stops..
Texas_Hedge
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neil said:
It's me by the way Peter44 (I have changed my name)
What did you trade Neil?
I can see the attachment box but nothing in it.
Peter
commanderco
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neil said:
Try trading in pairs if you are not already doing so.
One contract for a points target and the other to run.
I make my points contract responsible for covering all my losses and expenses
and yet the gallant little bugger still turns a modest profit, whilst the
other contract takes all the glory.
A bit like Lance Armstrong and the discovery team.
If it all sounds a little childish, I must remind you that I still do not know what I am going to do when I grow up!
In answer to your question Neil, you did put your stop in a obvious place.
A bit like being run over on a pedestrian crossing really.
neil
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attachments work ok
Just click on the box - it should open as it did for others -don't know how to post otherwise.
Euro/USD
entered 2068
stop 2060
(I think Phil Newton would have waited for a pull back of break out of line drawn across 2062 support and then traded the start of any continuation in direction of original break out?)
Can't win 'em all
Texas_Hedge said:
Just click on the box - it should open as it did for others -don't know how to post otherwise.
Euro/USD
entered 2068
stop 2060
(I think Phil Newton would have waited for a pull back of break out of line drawn across 2062 support and then traded the start of any continuation in direction of original break out?)
Can't win 'em all
Attachments
Texas_Hedge
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neil said:Just click on the box - it should open as it did for others -don't know how to post otherwise.
Euro/USD
entered 2068
stop 2060
(I think Phil Newton would have waited for a pull back of break out of line drawn across 2062 support and then traded the start of any continuation in direction of original break out?)
Can't win 'em all
Nothing wrong with your trade Direction . Stop was always going to get hit, being that close on a Monday..
I'm Long this morning on Sterling and the Euro. But stops are 60+
Texas_Hedge
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neil said:
OH Yes. Monday is always disastrous and Friday only gets worse...
commanderco
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neil said:That could well be the reason. Good idea about pair trading.
I mentioned it once before and copped some flak because the Critic
feel that the points contract attracted the same risk but restricted its earning
potential.
In fact he is dead wrong. The win/loss ratio is higher by a good margin.
Also, I enter against the flow ie if I want to go long I will enter after a drop in the currency
which puts my entry closer the the TP (turning point) and reduces my risk.
In fact I "trade against the trend"
" catch falling knives"
" enter without entering protective stops"
I do just about everything you read that you should not do.
Why? Because 95% of the people lose their money and 100% of the people
read the books.
It took me a while to figure that one out, but if you want to trap a tiger, you must
think like the tiger.
commanderco
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Texas_Hedge said:
I would also be very careful trading the days in between
Texas_Hedge
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commanderco said:
Yes it's all down hill Midweek......
commanderco
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Texas_Hedge said:
Excue me while I pop out to the kitchen and cut my throat
