How to be a MOnster

[Mira]

The spread is a killer (my real entry was the magenta line) but

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result

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[MightyOne]

The spread is a killer (my real entry was the magenta line) but
...

I second this: http://www.telegraph.co.uk/business/201 ... lose-cash/

There are 70 currency pairs to trade, why would you trade pixel crack?

[Mira]

The spread is a killer (my real entry was the magenta line) but
...

I second this: http://www.telegraph.co.uk/business/201 ... lose-cash/

There are 70 currency pairs to trade, why would you trade pixel crack?

Yep you’re right MO.
There are friends of mine that know nothing about trading but they still are obsessed with cryptos, that’s not my case..

It’s just because Sundays are boring as HELL

[Jalarupa]

The spread is a killer (my real entry was the magenta line) but

Use Limit order in future...

Or get a new broker...

[Mira]

The spread is a killer (my real entry was the magenta line) but

Use Limit order in future...

Or get a new broker...

Thank you Jala, I have the same problem with FX everyday most of EU brokers/dealers have terrible spreads.

I might use limits.. but I still have some troubles with them

[Jalarupa]

The spread is a killer (my real entry was the magenta line) but

Use Limit order in future...

Or get a new broker...

Thank you Jala, I have the same problem with FX everyday most of EU brokers/dealers have terrible spreads.

I might use limits.. but I still have some troubles with them

Sorry to hear that man...

If you like, you can test my broker (referral link) in my signature (I use their Seychelles brokerage as opposed to their UK one and it works brilliantly)

I think you will be pleasantly surprised by their execution, spreads, they don't requote ever... not even through Brexit... and they handle positions of size with great ease and lightning fast execution... I really can't say enough nice things about them...

I mainly trade market orders myself... but with Bitcoin because of the spread I trade with Limits and I always get my price... \\

So use it or not... its up to you

[Mira]

Use Limit order in future...

Or get a new broker...

Thank you Jala, I have the same problem with FX everyday most of EU brokers/dealers have terrible spreads.

I might use limits.. but I still have some troubles with them

Sorry to hear that man...

If you like, you can test my broker (referral link) in my signature (I use their Seychelles brokerage as opposed to their UK one and it works brilliantly)

I think you will be pleasantly surprised by their execution, spreads, they don't requote ever... not even through Brexit... and they handle positions of size with great ease and lightning fast execution... I really can't say enough nice things about them...

I mainly trade market orders myself... but with Bitcoin because of the spread I trade with Limits and I always get my price... \\

So use it or not... its up to you

Very nice! I have to give a look, obviously through your link.

Thank you much!

[Mira]

MO, is there a way to 'stack' with EIGHTS? If i add up when my trade is still open how do i keep count of the lines that i'm making/losing?

Thank you much!

[MightyOne]

MO, is there a way to 'stack' with EIGHTS? If i add up when my trade is still open how do i keep count of the lines that i'm making/losing?

Thank you much!

'Adding' to a trade confuses a lot of people and that is why I would recommend that you just take profit and then adjust your position size;
but all that you are really doing is turning a dial which narrows the lines and one of those lines will rest on your last entry price:

you risk 2 lines, price moves up 1.5 lines, you add size, the lines become narrower, and it is 3.5 narrower lines until you lose 2 lines of your risk box.

Taking partial profits does the opposite, you are turning the dial and making the lines wider: you are up 3.5 lines, you take partial profit, the lines become wider, one of the lines rests on your last exit price, and now it is 3.5 wider lines to a stop of -2 lines.

What I would like to see you do is to either get out and adjust or reposition trades without adjusting; once you are comfortable repositioning your trades then adding size as price breaks below a pivot will be your next step.

To reposition you simply exit and then reenter as price breaks long.

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[aliassmith]

MO, is there a way to 'stack' with EIGHTS? If i add up when my trade is still open how do i keep count of the lines that i'm making/losing?

Thank you much!

'Adding' to a trade confuses a lot of people and that is why I would recommend that you just take profit and then adjust your position size;
but all that you are really doing is turning a dial which narrows the lines and one of those lines will rest on your last entry price:

you risk 2 lines, price moves up 1.5 lines, you add size, the lines become narrower, and it is 3.5 narrower lines until you lose 2 lines of your risk box.

Taking partial profits does the opposite, you are turning the dial and making the lines wider: you are up 3.5 lines, you take partial profit, the lines become wider, one of the lines rests on your last exit price, and now it is 3.5 wider lines to a stop of -2 lines.

What I would like to see you do is to either get out and adjust or reposition trades without adjusting; once you are comfortable repositioning your trades then adding size as price breaks below a pivot will be your next step.

To reposition you simply exit and then reenter as price breaks long.

for_Mira.png

Even tho just about every "guru" says not to do it, I am more of a fan of adding to a loser. Err, I mean position building. Buy on the dips and sell on the rips.

I can't say I have seen you build any awesome systems around that concept.

Would you consider that "adding" to a Trade?