Trading with the Edge. - Page 2
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Thread: Trading with the Edge.

  1. #11
    Strange is our situation here upon earth commented Einstein after...I think he should have been following Cable daily.
    After yesterdays rate cut cable taken up prediably,then retraced beyond the lows of the day.
    This morning I was mildly bearish.
    From the chart below when the market failed to reach the median line I went short at 1.9873. Cease was 10 pips above. Market fell and I moved my stop to breakeven. It moved up to retest the lower paralel and ceased me out for a 6 pip profit.

  2. #12
    Got suckered into a classic dumb move this afternoon. Went short around 3.15 gmt in 1.9867.
    Currently from experience I know that unless there is some data release,a sudden and voilent movement is to sucker people in. Of course I have suckered into a move. It was dumb from the stage of reward/risk ratio, it was dumb from the point of a plausible stoploss place. To compound it all my position sizing was amateurish to put it mildly.
    Obviously I have stopped out in 1.9889.
    -22 times many infact too many lots.
    Gordon Gekko you liar. . .greed is not good.

  3. #13
    The market is at a range..statistically trading those ranges has not been too profitable previously.
    Nevertheless took a brief on the down sloping fork at 1.9917. Stoploss at 1.9935.
    Profit goal of 1.9855. The risk/reward ratio was great. However, got stopped out on a spike to almost high of the day.
    -18pips.

  4. #14
    The above trade on a 30 min chart.
    A was my entry...B stoploss...C profit target.
    Although I got stopped out, nonetheless I am still happy with the trade. It was predied on money management.

  5. #15
    The chart below illues why I was not too unhappy about the loss this morning. I had the perfect idea, but, it wasn't intended to be today. If I continue accepting the transactions and with great risk/reward ratio, in the future God willing I will be ok.

  6. #16
    My outlook for Cable is bearish. Price is going towards the median line and based on Dr Andrews it should reach the median line about 80% of their time. There is a confluence at around 1.9475. It's the 78.6% retracement in the reduced of Jan 21st. There is also the energy stage at A, as defined by TMorge. According to his 30 year plus experience prices are always attracted to such energy factors. Well lets wait and see how the market unfolds within the coming days.

  7. #17
    Quote Originally Posted by ;
    The market is in a range..statistically trading these ranges has not been too profitable previously.
    Still took a short on the downward sloping fork in 1.9917. Stoploss in 1.9935.
    Profit target of 1.9855. The risk/reward ratio was good. Got stopped out to almost high of the day on a spike.
    -18pips.
    I have had a couple of people sending me private mails to suggest that with stoploss so tight in a very volatile pair I am asking to be stopped out.
    To answer the question, I do not usually use a specific pip number to decide on a stoploss. I place a stoploss at a point at which if my reading of this market is right then my stoploss should not be hit. If it's hit then I accept I was wrong and move on to another setup.

  8. #18
    Got short of 1.9743 SL 1.9778 TP 1.9479

  9. #19

  10. #20
    Short of Euro in 1.5550. SL 1.5565. Profit target LML of gloomy fork.
    Edit: SL Breakeven.
    Edit:10.35. . .the market is currently in 1.5528. I really don't know if this trade is going to be profitable but I feel good about it. This morning Gurus and traders on the forum were bullish in this pair. According to my system once the price failed to reach its likely destination, viz UPL. I incorporated the Hagopian principle and waited patiently to get a sell signal. After the pub prior to the intersection of the blue and red fork failed to close above the median line which was my activate and I sold in 50.
    Edit. SL hit for a breakeven trade.

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