2009.09.10 DRAIN THE BANKS - LIKE A RAT

[MightyOne]

Thanks much Tro,

Im done for the day.

And some people say this does not work.
today 2 trades and im over my daily goal.

Cosmoe1

You waited for a large bar I am impressed

Just try not to look at that chart again for a few weeks, you might cry when you see what happened 30m later

Good trading cosmoe1.

[tommydq]

10 pips on the first half of position, 30 pips on the second half. Not a bad day for a red rat.


[left]http://i756.photobucket.com/albums/xx202/tommydq/Forex%20Trading%20-%20Two%20Percent%20Per%20Day/2010-07-01-audusd.png[/left]

[flex]

mo,
what do you recommend if i wait and wait and wait and there is no large bar to wait for? would you set your sl to be or take a full stop?

[cosmoe1]

Hey Mo,

check this out LOL.

Got out first time because it hit the 61.8 Fib.
took second trade because of news release.
i normally don't trade the news, but sometimes I trade the rebound of news trading. Something I picked up from a veteran trader.
Set T.P. @ the 161.8 Fib

Cosmoe1

[Makamilman]

I would like to ask some of you what you are using to enter and adjust your trades.
I'm using FXDD and I'm having problems entering my order because it tells me that my order is too close to current price. With some pairs this can be as much as 10 pips most are 4.
If I do get an order in, I obviously need to adjust stops very fast with DTB system. If price moves in my favor and I go through the motions to adjust stop with MT4's interface, the price has moved several pips. If it is with me no problem but against me, big problem.
I would like to know what some of you are using to overcome problems entering and adjusting in a fast moving market with MT4. Other brokers? Other order entry systems? Or???

[TheRumpledOne]

MB TRADING is the broker I use to trade:

http://therumpledone.mbtrading.com/forex.aspx

I don't have those order problems.

[cosmoe1]

I use Oanda.
Never a problem getting in or out of an order.
But use MT4 for my charting
Cosmoe1

[Makamilman]

With a separate order entry system that's not on your chart, how do you get a visual on what's going on with the orders and stops?
It seems like it would be awkward and hard to manipulate in a fast moving market but apparently it's working for you guys. I'm highly visual and used to seeing my order on the chart. I guess if I want to drain some I need to get used to two systems.
Thanks for your suggestions.

[trueblueTEX]

Hey Mo,

check this out LOL.

Got out first time because it hit the 61.8 Fib.
took second trade because of news release.
i normally don't trade the news, but sometimes I trade the rebound of news trading. Something I picked up from a veteran trader.
Set T.P. @ the 161.8 Fib

Cosmoe1

My FxPro chart does NOT go up that high on the CHIEF!! I have a gap of a couple of bars and only shows a High of 1.06990.

Even if switch it to M15, I still have a gap and the high is 1.06990.

[cosmoe1]

With a separate order entry system that's not on your chart, how do you get a visual on what's going on with the orders and stops?
It seems like it would be awkward and hard to manipulate in a fast moving market but apparently it's working for you guys. I'm highly visual and used to seeing my order on the chart. I guess if I want to drain some I need to get used to two systems.
Thanks for your suggestions.

I just keep multiple screens open on computer. Not a problem.
I was running Alpari a while back, was having the same problems as you.

Cos