Learning to Love the Pips

[Ph1lly]

Hi

Cable has been a naughty boy today and shot to the moon when I placed a short trade when it comes back down to earth I will definately be sending it to bed without any supper.

Cheers


Phil

 

[Yoshie]

na philly I for one hope it goes to 1.645+

 

[aleclaw]

Hi

GBP/JPY going well currently +80 pips

I did say I was Learning to Love the pips, not loving them so much today stayed up till 2 am waiting for price to reach a high on GBP/USD before entering a Short, missed my entry by a couple of pips went to bed to get up and see it went were anticipated by 150 pips its difficult to not keep thinking I should have had that.

Cheers


Phil

Happens to me all the time........best not to check back in my opinion......soooo disappointing!

 

[aleclaw]

Hi

Cable has been a naughty boy today and shot to the moon when I placed a short trade when it comes back down to earth I will definately be sending it to bed without any supper.

Cheers


Phil

Yeah...reckon it burnt quite a few stops this afternoon. I wanted to short at 1.6210, 6225 and 6300. Had a funny feeling it just might keep heading North. Glad I sat that one out!

 

[Ph1lly]

Hi Aleclaw,

I'm still short on Cable currently and have a large drawdown in my possession, will stick with it, believe it will go down soon.

Cheers


Phil

 

[aleclaw]

Hi Aleclaw,

I'm still short on Cable currently and have a large drawdown in my possession, will stick with it, believe it will go down soon.

Cheers


Phil

Yeah, well played - looks like you could well be right!

 

[Ph1lly]

Hi Aleclaw,

Must admit I'm constantly turning Blue in the face because of holding my breath waiting for it to happen.

Cheers


Phil

 

[aleclaw]

Hi Aleclaw,

Must admit I'm constantly turning Blue in the face because of holding my breath waiting for it to happen.

Cheers


Phil

I can imagine - you must have a very wide stop loss! I'm day trading much smaller moves, so 20 - 30 pip stop losses is more my style.
Think there are pros and cons for both styles, but minimum lot size with my broker is 50,000, so money management prevents me taking swing trades .
Used to trade a demo account, without using stops, once went down £7,000 on cable - was like Monopoly money!

 

[Ph1lly]

Hi Aleclaw,

Must admit dont have a stop in place which is a good job the way it has currently gone against me, I am always looking for 100+ pips per trade on Swing trading and the stops would limit the room needed.

Cheers


Phil

 

[Ph1lly]

Hi

Cable really took the word swing to its far reaches wnt 300 pips against me to come back into profit.

Great call Rav your analysis is second to none.

Cheers


Phil