Daily Forex Trading

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LeMercenaire
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Re: Daily Forex Trading

Postby LeMercenaire » Thu Oct 11, 2018 10:17 pm

A look at EJ respecting the line...

EURJPYDailyrespectingtheline11thOct18.png
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LeMercenaire
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Re: Daily Forex Trading

Postby LeMercenaire » Thu Oct 11, 2018 10:20 pm

EU going the other way...

EURUSDDailydoingittheotherway11thOct18.png
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Re: Daily Forex Trading

Postby LeMercenaire » Thu Oct 11, 2018 10:22 pm

AC taking the extensions seriously...

AUDCADDailywowcheckthebounce11thOct18.png
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Re: Daily Forex Trading

Postby LeMercenaire » Thu Oct 11, 2018 10:28 pm

Target area...

NZDUSDDailytargetareablue11thOct18.png
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Mira
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Re: Daily Forex Trading

Postby Mira » Fri Oct 12, 2018 8:21 am

Hi LeM!

I know this is off topic but I gotta ask before I go to a mad house :shock:

I’m cutting a bad trade when it closes over my line and it happens pretty often :lol:
I’m ok with the idea of cutting losses fast and letting wins cover all the losses, I SEE it.
However MO told (in early NLA) that he was trying to exit at zero from a bad trade.
This means that I’d set my take profit at the line and wait for a pullback.

Can I ask you how do you manage a situation like this?
Do you cut the trade immediately or do you wait to get out at zero (with the risk of seeing price going straight to the hard stop loss)?

Thank you much :D
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Re: Daily Forex Trading

Postby LeMercenaire » Fri Oct 12, 2018 2:31 pm

[quote="Mira"[color=#FF0000]]Hi LeM!

I know this is off topic but I gotta ask before I go to a mad house :shock:

I’m cutting a bad trade when it closes over my line and it happens pretty often :lol:
I’m ok with the idea of cutting losses fast and letting wins cover all the losses, I SEE it.
However MO told (in early NLA) that he was trying to exit at zero from a bad trade.
This means that I’d set my take profit at the line and wait for a pullback.

Can I ask you how do you manage a situation like this?
Do you cut the trade immediately or do you wait to get out at zero (with the risk of seeing price going straight to the hard stop loss)?

Thank you much :D
[/color]
[/quote]

Hi Mira,

If I can get it done quickly enough, then I will never let an open trade go negative at all. If that means +1, or +0.5, I don't care. I just want to stay green.

I then will have no hesitation on re-entering immediately if it comes. I know I'll have another spread cost but my broker's are negligible across most of what I run, so I don't care. Cost of doing business.

Have I picked you up right? Does that answer your question ok?

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LeMercenaire
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Re: Daily Forex Trading

Postby LeMercenaire » Fri Oct 12, 2018 2:32 pm

One thing to watch, folks - major storms brewing over Turkey today. Watch out if you have USD positions running.

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Mira
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Re: Daily Forex Trading

Postby Mira » Fri Oct 12, 2018 2:40 pm

LeMercenaire wrote:
Mira wrote:[color=#FF0000]Hi LeM!

I know this is off topic but I gotta ask before I go to a mad house :shock:

I’m cutting a bad trade when it closes over my line and it happens pretty often :lol:
I’m ok with the idea of cutting losses fast and letting wins cover all the losses, I SEE it.
However MO told (in early NLA) that he was trying to exit at zero from a bad trade.
This means that I’d set my take profit at the line and wait for a pullback.

Can I ask you how do you manage a situation like this?
Do you cut the trade immediately or do you wait to get out at zero (with the risk of seeing price going straight to the hard stop loss)?

Thank you much :D
[/color]


Hi Mira,

If I can get it done quickly enough, then I will never let an open trade go negative at all. If that means +1, or +0.5, I don't care. I just want to stay green.

I then will have no hesitation on re-entering immediately if it comes. I know I'll have another spread cost but my broker's are negligible across most of what I run, so I don't care. Cost of doing business.

Have I picked you up right? Does that answer your question ok?


Thanks Lem, thus taking a small loss and going on.
It makes sense, i'm always tempted to close at break-even because price tends to return to the line most of the times, however watching the candles going in direction of loss without doing nothing is suicidal :shock:
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Mira
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Re: Daily Forex Trading

Postby Mira » Fri Oct 12, 2018 2:43 pm

LeMercenaire wrote:One thing to watch, folks - major storms brewing over Turkey today. Watch out if you have USD positions running.


Dangerous Fridays :twisted:

I have an eye on UJ, there's a monthly bullish zline that looks like it wants to push it a little higher.
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Mira
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Re: Daily Forex Trading

Postby Mira » Fri Oct 12, 2018 3:04 pm

Mira wrote:
LeMercenaire wrote:One thing to watch, folks - major storms brewing over Turkey today. Watch out if you have USD positions running.


Dangerous Fridays :twisted:

I have an eye on UJ, there's a monthly bullish zline that looks like it wants to push it a little higher.



hmmm but maybe not today, no sign of strength..
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