Pearl Fisher’s Currency Bum Steers

The Pearl Fisher said:
Sold GBPUSD at 1.9910

SL at 2.0030
Click to expand...

120 pip stop loss?? I would have pulled out about 3 trades in this same time period that your holding with an average S/L of 10 pips, and god know's how many pips I would have gained. I expect at least 10 pips from my trade, but according to how strong the strand is that I'm trading, I could net at times 50 pips, but this all depends on what the market is giving me at the moment, I take as much as it's giving, but hey to each his own. I seriously wish you the best with your trading. Im glad you had the courage to open your own clean cut journal. It say's a lot about your character. It say's that you are strong. I like that, because I'm strong too. I'm following your trades and will post any comments as I see fit.

Comment: The best point you could have exited this trade was at 1.9892. Within at least the next 10hrs from time of this post; the GBP/USD does not have sufficient bearish momentum to put you in a decent position according to the type of trader you are. For me I could probably squeeze 10 pips if I'm lucky, but I don't believe in luck nor do I rely on it when it comes to trading. The 1.9892 low might not even get broken within this time! Why? because 1.9892 is now frozen in time as a support level (1.9892/90), and I'm afraid if this support level gets tested (or worst doesn't get tested at all) and does not break, then we are going to be in for some ride...toward the upside. IMO, unless you are holding for the long term, then you should exit your short while you still have profit, and look for a good buy opportunity. From your entry point the pair is only offering you roughly 25-30 pips the most. Take the money and run! hope this post reaches you in time....
 
Last edited:
Compounding said:
120 pip stop loss?? I would have pulled out about 3 trades in this same time period that your holding with an average S/L of 10 pips, and god know's how many pips I would have gained. I expect at least 10 pips from my trade, but according to how strong the strand is that I'm trading, I could net at times 50 pips, but this all depends on what the market is giving me at the moment, I take as much as it's giving, but hey to each his own. I seriously wish you the best with your trading. Im glad you had the courage to open your own clean cut journal. It say's a lot about your character. It say's that you are strong. I like that, because I'm strong too. I'm following your trades and will post any comments as I see fit.

Comment: The best point you could have exited this trade was at 1.9892. Within at least the next 10hrs from time of this post; the GBP/USD does not have sufficient bearish momentum to put you in a decent position according to the type of trader you are. For me I could probably squeeze 10 pips if I'm lucky, but I don't believe in luck nor do I rely on it when it comes to trading. The 1.9892 low might not even get broken within this time! Why? because 1.9892 is now frozen in time as a support level (1.9892/90), and I'm afraid if this support level gets tested (or worst doesn't get tested at all) and does not break, then we are going to be in for some ride...toward the upside. IMO, unless you are holding for the long term, then you should exit your short while you still have profit, and look for a good buy opportunity. From your entry point the pair is only offering you roughly 25-30 pips the most. Take the money and run! hope this post reaches you in time....
Click to expand...

Saved, just in case you decide to edit again ...after the price move...again :rolleyes:
 
Compounding said:
120 pip stop loss?? I would have pulled out about 3 trades in this same time period that your holding with an average S/L of 10 pips, and god know's how many pips I would have gained. I expect at least 10 pips from my trade, but according to how strong the strand is that I'm trading, I could net at times 50 pips, but this all depends on what the market is giving me at the moment, I take as much as it's giving, but hey to each his own. I seriously wish you the best with your trading. Im glad you had the courage to open your own clean cut journal. It say's a lot about your character. It say's that you are strong. I like that, because I'm strong too. I'm following your trades and will post any comments as I see fit.

Comment: The best point you could have exited this trade was at 1.9892. Within at least the next 10hrs from time of this post; the GBP/USD does not have sufficient bearish momentum to put you in a decent position according to the type of trader you are. For me I could probably squeeze 10 pips if I'm lucky, but I don't believe in luck nor do I rely on it when it comes to trading. The 1.9892 low might not even get broken within this time! Why? because 1.9892 is now frozen in time as a support level (1.9892/90), and I'm afraid if this support level gets tested (or worst doesn't get tested at all) and does not break, then we are going to be in for some ride...toward the upside. IMO, unless you are holding for the long term, then you should exit your short while you still have profit, and look for a good buy opportunity. From your entry point the pair is only offering you roughly 25-30 pips the most. Take the money and run! hope this post reaches you in time....
Click to expand...

The market has just thrown 40 pips your way......little beyond the 30 pips I thought you would get...As I posted before in the other thread I really don't do limits so I couldn't predict precisely the amount of pips the pair would have given you. I just don't trade that why, but I did get somewhat of an indication. It gave you about 40-45 pips to be exact from the point of your entry 1.9910. Roughly 10-15 pips off from what I predicted. Which is very accurate for a trader of your style. After all, this theory on the current price behavior was for???.....You. :)
 
counter_violent said:
Saved, just in case you decide to edit again ...after the price move...again :rolleyes:
Click to expand...

Check the market against the approximate time of my post, what I edited was typos, not the math. I was a little bit off (by 10-15pips) on my prediction as far as how much pips the GBP/USD had to offer. Which I explained in the post above. I saw your post after I stated this. No Red Herring here, just stating the facts.

But you know what's scarry in this whole thing though? I was right.....
 
Compounding said:
Check the market against the approximate time of my post, what I edited was typos, not the math. I was a little bit off (by 10-15pips) on my prediction as far as how much pips the GBP/USD had to offer. Which I explained in the post above. I saw your post after I stated this. No Red Herring here, just stating the facts.

But you know what's scarry in this whole thing though? I was right.....
Click to expand...


Isn't there something in TW2 rules about not pretending to be an expert on subjects when you clearly dont know what you are talking about.
 
29Investments said:
TPF Did these 2 trades get whacked or have you moved the stops ?
Click to expand...


They got whacked, Hard.


Still counting the days losses. They amount to something in the order of -230+


I'll update the entries soon.
 
Ouch bad luck mate - FWIW those shorts looked good to me.

You have posted some great results lately so hopefully your account hasn't got too big a dent in it.
 
29Investments said:
TPF Did these 2 trades get whacked or have you moved the stops ?
Click to expand...



Also I never as a rule change my stops. I usually factor this loss in as a cost for the trade. Just as one would accept paying a stake on a horse.
 
29Investments said:
Isn't there something in TW2 rules about not pretending to be an expert on subjects when you clearly dont know what you are talking about.
Click to expand...

Im not pretending to be an expert. Check out the math for yourself. I was right, so what? Does it bother you sooo much? Where are your trades and your trading journal? I have my own bub. It is itching me right now to get you a verbal lashing ,but I will try to be as clean as I can. Stop posting garbage and trash like what you posted above in other people's journals, get your own, bub.
 
Compounding said:
Im not pretending to be an expert. Check out the math for yourself. I was right, so what? Does it bother you sooo much? Where are your trades and your trading journal? I have my own bub. It is itching me right now to get you a verbal lashing ,but I will try to be as clean as I can. Stop posting garbage and trash like what you posted above in other people's journals, get your own, bub.
Click to expand...

Very restrained of you.

Please learn to speak properly before replying to any more of my posts.

Thank you.
 
29Investments said:
Very restrained of you.

Please learn to speak properly before replying to any more of my posts.

Thank you.
Click to expand...

Learn how to trade properly before you come reply to me. Big difference there, bub. Now, let this journal remain clean. Please don't make useless post, and don't insult me because I will reply.
 
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