Australian (ASX) Stock Market Forum

GBPUSD thoughts

my open trades from last night
us500 long2723.2, stopped out 2724
uk 100 long7041.7 stopped out 7091.2

but i did jump the gun on the "low is in" way too easily. upward bias???
I had small trade earlier in US500 and long at moment , wondering if we are going to see it turn around now or continue down.
 
That is when accounts blow up and end of game. My stop was a price i knew i was wrong , be it not to my liking. If we do the things we don't like to but know we should do anyway eventually i think we have less things that we have to do we don't like.:)
 
Andy US500 is looking interesting , lets see if recent high is taken out . It will add confirmation to the up trend and also a higher low if it happens. The high at 2722 is significant for me
 
am long us500 @2701.7 but going very slowly now

my expectation is still same as last night, although us500 broke to new lo it has stopped right at .62r now, same as uk100 was last night. uk 100 did not break to new lo today although it did retrace almost right back to the bottom.
starting to move as i type

had little gold short earlier. stopped it out at -4pips. was not a plan trade was a i know what is going on and i want to be involved trade.
us500 trade is as per trading plan, although i did enter it on a 1m chart which is ridiculous.
tonights mission is to really start to tie down what are the trades i want to be doing,,,
and to not overly clutter your thread:)
 
good idea to put an actual stop in place. if not at the actual price not too far from it.
if your internet goes down or computer crashes you may be getting an email for a margin call.
If I put a stop or limit order on I always have a stop in place when i hit submit.
If I put an at market order I immediately drag a stop in place. I am going to look for an ea that automatically places a stop when an at market order is placed.
 
That is when accounts blow up and end of game. My stop was a price i knew i was wrong , be it not to my liking. If we do the things we don't like to but know we should do anyway eventually i think we have less things that we have to do we don't like.:)
The stop i refused to put in last night was the first indication things were up before it got messy.
 
am long us500 @2701.7 but going very slowly now

my expectation is still same as last night, although us500 broke to new lo it has stopped right at .62r now, same as uk100 was last night. uk 100 did not break to new lo today although it did retrace almost right back to the bottom.
starting to move as i type
Me too 2701.2 :p
 
I watched one of the SMB capital videos the other night.
Mike Bellafiore said rule #1 of trading .....always use a stop Rule #2 in Trading always use a stop rule no#3 always use ...............
 
am long us500 @2701.7 but going very slowly now

my expectation is still same as last night, although us500 broke to new lo it has stopped right at .62r now, same as uk100 was last night. uk 100 did not break to new lo today although it did retrace almost right back to the bottom.
starting to move as i type

had little gold short earlier. stopped it out at -4pips. was not a plan trade was a i know what is going on and i want to be involved trade.
us500 trade is as per trading plan, although i did enter it on a 1m chart which is ridiculous.
tonights mission is to really start to tie down what are the trades i want to be doing,,,
and to not overly clutter your thread:)
I am trading the US500 with the 3min chart and finding it good for trailing stop
 
Yes i like them for overnight trades. Just need to remember to leave computer on with MT4. Otherwise might cost you a 8xR winning Trade on Gold one night! Doh:banghead:
 
So you go to bed 3xR up and set up the trailing stop. Turn the laptop off and go to bed . trade plummets in the correct direction and reverses all the way back to your stop . you pull out 3x R win when it should have been about 10-11 x Rwin. NOTHappy
 
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