Yesbut I really don't have some margin to play anyway, so getting out would just be giving up to gain no money anyway. So might as well hold prey and onOriginally Posted by ;
Yesbut I really don't have some margin to play anyway, so getting out would just be giving up to gain no money anyway. So might as well hold prey and onOriginally Posted by ;
Remember that in a ranging market, items generally work in reverse. Most of the information that traders banter around applies to trending markets. That's why the majority of traders lose money, because the market ranges the majority of the time.
This specific pair, as Scott said, is rangebound.
In a ranging market:
1. You buy weakness and sell strength.
2. Fade breakouts.
3. Adding into a loser is often a egy and will work out fine if the market continues to range.
4. Holding onto a loser is not a problem if the market continues to range. It will return.
In a trending market:
1. You sell weakness and buy strength.
2. Trade breakouts.
3. Adding into a loser increases losses assuming it keeps on going.
4. So that you get out as soon as you see it is moving against you, A losing trade will only get worse.
If the pair EUR/GBP breakes the amount 0.7020, it will denotes a long-term buy. Sorry, man, but it sounds to me, you'll have some Issues
Maybe that'll teach him to use stop losses!Originally Posted by ;
We're just talking 80 pips to get him back in shape.
He has waited this long.
I need it to return to 0.6760 since the beginning of September before it chose to go up. Damn, it's been that long
A few months . January 07 it had been about 0.6534, perhaps this January will be
oooo Ouch. You're patient, I will give that to you.Originally Posted by ;
How would you somehow do that? Can you read Bird Watching in Lion Country? It's been awhile since I read that, but I believe his egy would have set you where you are right. Trade a range grid with no stop.
I am sure you can guess how I know that. Chalk it up as a lesson. ALWAYS use a stop loss.
Attached is a smart spreadsheet, I really don't know who did it, but it is better than the one I did. You might have to go to column O and plug in more recent fudge factors. It can allow you to calculate your stop or standing size.
https://forexintuitive.com/attachmen...9801624929.zip
It shorted ? Bummer! But... there's a good lesson for you which may be missed if the pair falls back to where you want it. Of course it'll feel good, but in the long run it isn't.