Closing the gaps [live real trading]

trading strategies and money management discussion, code, results

Moderator: moderators

User avatar
newschool
rank: 150+ posts
rank: 150+ posts
Posts: 489
Joined: Fri Aug 21, 2009 2:26 am
Reputation: 0
Gender: Male

Postby newschool » Sun Oct 31, 2010 10:25 pm

Still pushing higher, I'm averaging slowly, might be dangerous tho, you need to be accompanied by an adult to try this at home!

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

poltergeist
rank: <50 posts
rank: <50 posts
Posts: 39
Joined: Fri Jan 08, 2010 9:02 am
Reputation: 0
Gender: None specified

Postby poltergeist » Sun Oct 31, 2010 10:32 pm

newschool wrote:I'm selling EU and AU.


what SL you set on EU?
and what SL you usually set whet closing the gap?

User avatar
newschool
rank: 150+ posts
rank: 150+ posts
Posts: 489
Joined: Fri Aug 21, 2009 2:26 am
Reputation: 0
Gender: Male

Postby newschool » Sun Oct 31, 2010 10:34 pm

SL depends of price movement + previous s&r.

Right now I don't really have a SL on EU due to my relatively large account.

poltergeist
rank: <50 posts
rank: <50 posts
Posts: 39
Joined: Fri Jan 08, 2010 9:02 am
Reputation: 0
Gender: None specified

Postby poltergeist » Sun Oct 31, 2010 10:43 pm

so SL would be like this? in this case RR - 1
Attachments
2010-10-31_EURUSD_CTG.jpg
2010-10-31_EURUSD_CTG.jpg (239.62 KiB) Viewed 166 times

User avatar
newschool
rank: 150+ posts
rank: 150+ posts
Posts: 489
Joined: Fri Aug 21, 2009 2:26 am
Reputation: 0
Gender: Male

Postby newschool » Sun Oct 31, 2010 10:45 pm

The problem with SL, you exit at the worst price possible. So if for example I'm loosing lot a money, I will wait for a retrace in my direction to make a negative exit, but at least not at the freaking top.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
tmanbone
rank: 500+ posts
rank: 500+ posts
Posts: 723
Joined: Sun Nov 15, 2009 3:52 am
Reputation: 0
Gender: Male

Postby tmanbone » Sun Oct 31, 2010 10:52 pm

Come to pappa. Who's your daddy?
Last edited by tmanbone on Sun Oct 31, 2010 11:01 pm, edited 1 time in total.
"The simplicity of the markets is it's greatest disguise"

T

poltergeist
rank: <50 posts
rank: <50 posts
Posts: 39
Joined: Fri Jan 08, 2010 9:02 am
Reputation: 0
Gender: None specified

Postby poltergeist » Sun Oct 31, 2010 10:59 pm

newschool wrote:The problem with SL, you exit at the worst price possible. So if for example I'm loosing lot a money, I will wait for a retrace in my direction to make a negative exit, but at least not at the freaking top.


so with novice gap you wait and then set SL, if price will go in different way.
and let's assume - what is probablilty that open of the week will be the new daily/weekly low?

User avatar
newschool
rank: 150+ posts
rank: 150+ posts
Posts: 489
Joined: Fri Aug 21, 2009 2:26 am
Reputation: 0
Gender: Male

Postby newschool » Sun Oct 31, 2010 11:25 pm

I always want market to go in my direction fast. It's one of the concept from "Phantom of the Pit".

I closed my AU positions in profit, and EU just over breakeven.

I just don't have any patience when trading high leverage, especially if I know that I will get some good money back with the rebate program.

User avatar
adaseb
rank: 500+ posts
rank: 500+ posts
Posts: 871
Joined: Fri Aug 21, 2009 5:20 am
Reputation: 0
Gender: None specified

Postby adaseb » Sun Oct 31, 2010 11:32 pm

As far as Iknow, Novice and Pro gaps only applies to stocks.

I didn't see any gaps on EU or AU this week but who knows it might work out like it did last week.

Gold was a good gap play and the loonie.

If I recall correctly there is a thread on gaps on Forexfactory where some individual did some backtesting for the last years or so on many of the major pairs, if you guys trade gaps it might be worth checking out. He posted his results in an excel file.

Good luck on these trades, hope they work out.

User avatar
newschool
rank: 150+ posts
rank: 150+ posts
Posts: 489
Joined: Fri Aug 21, 2009 2:26 am
Reputation: 0
Gender: Male

Postby newschool » Mon Nov 01, 2010 12:01 am

nice closes in the end ahaha

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “strategy trading & money management”