Thread: EURUSD

Originally Posted by ;

Pretty shitty 100 pip profit disappeared on Tuesday. Up 75 pips -- that disappeared as well. Then entered brief @ 1914. Stopped out @1944 for another 30 pip hit. I can't afford to keep allowing profitable trades become losses, awaiting the 150 pip goal according to this 5MFX system. From today on I am going to have to start taking profits I have them.

Have you noticed my performance report on the other thread -- handling the trades a bit differently makes sense to me at least in the brief term

https://forexintuitive.com/forex-tra...-research.html

I was doing also. . .then it dried up. I had a little voice on my shoulder telling me..you re ahead. . .why not take the advantage and run. . .but I did tn listen and the rest is history

Originally Posted by ;

Perhaps you have seen my performance report on the other ribbon -- managing the trades a little differently makes sense to me -- at least in the brief term

Tearlach, if you are departing before 150 pips, how much of a profit would you target with each transaction?

Regards,

Originally Posted by ;

, if you're exiting before 150 pips, how much of a profit would you target with every trade?

Regards,
Correy

his principles spook me a little -- but that is my style I like banging out the singles/doubles rather than looking for the house runs

I'd rather miss a large move than see a wonderful profit evaporate

the 150 pip egy can work at times, but this month was chy

from the 12 effective trades, just 3 cracked 150 pips

Beau recommends moving your stop to breakeven once you are ahead 75 to 100 pips

I am considering carrying one lot off at 50 or 60 pips -- moving the stop to 25

but, with time (i.e., experience), maybe I'll get more comfortable with Beau's trade mgmt -- I am convinced he has the background to back up his egies

But look at those entries! Clearly there's worth in those TRLs -- would not you agree? And based on recent performance, I am just going to focus on the euro and cable


disclaimer: I am only an advanced beginner at this -- keep that in mind

Originally Posted by ;

Pretty shitty 100 pip profit vanished on Tuesday. Up 75 pips -- that vanished. Then entered 1914. Stopped out @1944 for a second 30 pip hit. I can't afford to keep allowing profitable trades become losses, waiting for the 150 pip goal in line with the 5MFX system. From now on I am going to have to start taking profits I have them.

V
that I know just how you feel. Trying to learn this Foreign Exchange business and the old standard of cut your losses and let your profits run only did not work for me. Running 3 demo accounts doing so all began sucking large time (2 that is). That cash that was humorous was treated by me . They'd of had me committed if anyone aside from my wife had noticed I was with this digital cash. I used not wonderful language in loud tones and, and , and.... MY WIFE stated Why not take the profits when you are up? I spend my entire life in front of the computers viewing the blue and red bars girate all day and all evening. Soooo - in my demo that is 10,000 when I was up, I began to take the cash. Named the account after her Macro-Mai. Months got that sucker up . And by accepting anything when the market began to turn back on me. Declines as best as I could with 2 -10 pip even and profits some even-stevens. I'm picker and a bottom and that creates a lot of emotional turmoil. I find that I'm greedy and don't wish to give away that high or bottom 40 - 150 pips. Measure in Elliott Wave. Because of topping and bottom I'm entering into a lot of 1st waves. They are generally fixed a fantastic deal and that I see within this marketplace a terrific quantity. Really where stops can get hit trying to allow it to 12, this is. If you exchanged C waves and 3rd waves it would be no sweat. (Just reading this makes me want to change my trading habits). Personally it may be chickens...t but that the cash will be in the bank by taking profits. When you do wake up and by chance get yourself into that 3rd or C tide chase price up and shield. I guess this is where limitations will work. Just see 200 and can't take 50. Feel I've missed something.
Hope that this helps and good trading.


P.S. Any consolation I'm batting 1,000 this week. Everything is gone and wrong!

Originally Posted by ;

, if you are departing before 150 pips, just how much of a profit would you target with every transaction?

Regards,
Correy

if you are not as big a coward as mepersonally, 100 pip take profit might be brighter -- the average of the nine winning transactions (with lt;150 pip profits) is only over 99 pips, and five out of the nine were for 99 pips or greater

I should probably place a 50 stop Once the price reaches 100

Have you currently Beau's view on this egy? Merlin what is your take on adjusting the stops? I am getting desperate I am down $1000!! As sure as I alter the egy though it will go yard. That was my fortune so far. I intend to just stick until word from Beau.

I agree the best thing to do is to follow the rules. As we all know from our college days rules exist to be broken . If you are going to break the rules, its preferable to do to take profit when it's staring you in the facelike cancelling a stop loss. I repeat however, that the best thing to do is follow the rules.

Originally Posted by ;

I agree that the best thing to do would be to stick to the rules. As we all know from our school days rules exist to be broken . If you are likely to violate the rules, its preferable to do to take profit when it is staring you in the face, than doing something dumb like cancelling a stop loss. I repeat though, the best thing to do is follow the rules.

Group I think now is the time to go long here 3:50pm EST.. Wait for retrace to 1.1910 - 25 degree and ride this infant greater. The downer is dunner!


P.S. Watch to your sideways shuffle at this time of day. Correction might take some time for entrance.

A plogical take profit is as a plogical stop reduction. IMHO, it is better to learn and understand time/price movements and compared to exchange those movements as opposed to choosing it has to go 150 pips.

As far as the euro goes....there were a lot of pips on the table. Count the pips on the swings of the hourly chart. If your machine or egy didn't create pips with swings, you might want to think about egies or egies.