10.6 EDSEL

[njokie]

Hi Dispell

well whats MPTM forgive my ignorance
is there any safe trailing stop method u know of
to help me avoid pulling hair lol

[dispell]

The aud will continue to go down with the Chinese economy. Now what I mean by that is the Chinese economy growth rate is slowing down, the economy is not going down. There is a difference. But they have been importing less from the Australia so that is why the figures are down. The AUD has to go to a number where the rest of the world is willing to buy their products and I am not sure where that point is. .80-.85 to the dollar seems to be the consensus among many economists.

The AUD; NZD usually run opposite of the JPY. So if they go down, JPY will go up. Since most of its bond selling has been done for the month I suspect the JPY will strengthen soon (probably start next week) until next months bond sales. So with this startling news, bigger than expected, Chinese economy is doing worse than what is being reported, which translates to aud and nzd down; jpy up. So look for those opportunities. Thats the news now wait for confirmation from the indis.

Hey, any idea where I can get info on the chinese economy?
I usually just check what time the reports are on FF.

[dispell]

Hi Dispell

well whats MPTM forgive my ignorance
is there any safe trailing stop method u know of
to help me avoid pulling hair lol

MPTM's a great EA by steve, which helps manage your trades.
It's on this site, but here http://www.stevehopwoodforex.com/phpBB3 ... ?f=21&t=64
Do read the instructions carefully if u plan to use it.
I personally don't use it, but I can see how it could be useful if you can't monitor your trades all the time.
Anyway, trading depends on the trader.
All profits and losses are taken and nothing you can do will bring them back.
No one can predict the movement of the market, after a trade is closed, just forget it and move on, and analyze it on how it can help your next decision when making a trade.
Cheers!

[nanningbob]

how to lock profits

Hi Bob i have been testing the system on a small live account i took usd/cad and it went over 100pips my take profit was 1.10000 it was 10pips shy of my take profit i saw your update on the fact that it could be reversing and i closed with 60pips now the other trade was gbp/nzd i took the sell it went 108 pips down from my sell and i only managed to close with 5 pips
i need help on how to lock profits i feel sick to my stomach

We all live and learn. Since Forex is not an exact science I grab profit when I see it. So I go from session to session taking what is there. Yesterday I took 28 trades in profit for 728 pips. The average was 26 per trade. I took about 500 of them and cleared out some DD on pairs I didnt think were going to reverse back into the trend for a net of 207 pips yesterday. There is nothing more discouraging than to be up big and lose it all or most of it. I would rather take those 20-40 pip profits and set a new pending below the next line rather than see my profit disappear. At one point yesterday a group of trades were all between 15-35 pips in profit. I closed them all for over 300 pips. They were the best part of my day and then I went to bed. If price kept going I was in, if not I am out. Profit is profit and that is what I am here to make. I am up 6300+ pips for the month and I average +29 pips a trade. I find it is easier to find a 30 pip profit than a 100 pip profit. Those 30 pip profits add up quickly. You can always reenter after a retrace instead of seeing a profit disappear. Become a singles hitter instead of a home run hitter. You will make more pips and money that way. Anyway that is my experience.

[dispell]

how to lock profits

Hi Bob i have been testing the system on a small live account i took usd/cad and it went over 100pips my take profit was 1.10000 it was 10pips shy of my take profit i saw your update on the fact that it could be reversing and i closed with 60pips now the other trade was gbp/nzd i took the sell it went 108 pips down from my sell and i only managed to close with 5 pips
i need help on how to lock profits i feel sick to my stomach

We all live and learn. Since Forex is not an exact science I grab profit when I see it. So I go from session to session taking what is there. Yesterday I took 28 trades in profit for 728 pips. The average was 26 per trade. I took about 500 of them and cleared out some DD on pairs I didnt think were going to reverse back into the trend for a net of 207 pips yesterday. There is nothing more discouraging than to be up big and lose it all or most of it. I would rather take those 20-40 pip profits and set a new pending below the next line rather than see my profit disappear. At one point yesterday a group of trades were all between 15-35 pips in profit. I closed them all for over 300 pips. They were the best part of my day and then I went to bed. If price kept going I was in, if not I am out. Profit is profit and that is what I am here to make. I am up 6300+ pips for the month and I average +29 pips a trade. I find it is easier to find a 30 pip profit than a 100 pip profit. Those 30 pip profits add up quickly. You can always reenter after a retrace instead of seeing a profit disappear. Become a singles hitter instead of a home run hitter. You will make more pips and money that way. Anyway that is my experience.

Wow,
handling around 30 trades in a day sounds pretty hard
I handled around 8 yesterday, and i was in a nervous rack whenever i wasn't around.
Oh well, live and learn.

[serialk_ll]

how to lock profits

Hi Bob i have been testing the system on a small live account i took usd/cad and it went over 100pips my take profit was 1.10000 it was 10pips shy of my take profit i saw your update on the fact that it could be reversing and i closed with 60pips now the other trade was gbp/nzd i took the sell it went 108 pips down from my sell and i only managed to close with 5 pips
i need help on how to lock profits i feel sick to my stomach

We all live and learn. Since Forex is not an exact science I grab profit when I see it. So I go from session to session taking what is there. Yesterday I took 28 trades in profit for 728 pips. The average was 26 per trade. I took about 500 of them and cleared out some DD on pairs I didnt think were going to reverse back into the trend for a net of 207 pips yesterday. There is nothing more discouraging than to be up big and lose it all or most of it. I would rather take those 20-40 pip profits and set a new pending below the next line rather than see my profit disappear. At one point yesterday a group of trades were all between 15-35 pips in profit. I closed them all for over 300 pips. They were the best part of my day and then I went to bed. If price kept going I was in, if not I am out. Profit is profit and that is what I am here to make. I am up 6300+ pips for the month and I average +29 pips a trade. I find it is easier to find a 30 pip profit than a 100 pip profit. Those 30 pip profits add up quickly. You can always reenter after a retrace instead of seeing a profit disappear. Become a singles hitter instead of a home run hitter. You will make more pips and money that way. Anyway that is my experience.

I have read my thread before, and just look and thank you for everything.
last 28 trading? You can ask for a weekly trading story? which pair of the cake slices. I begin to understand CSS but have little security to comprehend what I see. Thank you

[darshanag]

how to lock profits

Hi Bob i have been testing the system on a small live account i took usd/cad and it went over 100pips my take profit was 1.10000 it was 10pips shy of my take profit i saw your update on the fact that it could be reversing and i closed with 60pips now the other trade was gbp/nzd i took the sell it went 108 pips down from my sell and i only managed to close with 5 pips
i need help on how to lock profits i feel sick to my stomach

We all live and learn. Since Forex is not an exact science I grab profit when I see it. So I go from session to session taking what is there. Yesterday I took 28 trades in profit for 728 pips. The average was 26 per trade. I took about 500 of them and cleared out some DD on pairs I didnt think were going to reverse back into the trend for a net of 207 pips yesterday. There is nothing more discouraging than to be up big and lose it all or most of it. I would rather take those 20-40 pip profits and set a new pending below the next line rather than see my profit disappear. At one point yesterday a group of trades were all between 15-35 pips in profit. I closed them all for over 300 pips. They were the best part of my day and then I went to bed. If price kept going I was in, if not I am out. Profit is profit and that is what I am here to make. I am up 6300+ pips for the month and I average +29 pips a trade. I find it is easier to find a 30 pip profit than a 100 pip profit. Those 30 pip profits add up quickly. You can always reenter after a retrace instead of seeing a profit disappear. Become a singles hitter instead of a home run hitter. You will make more pips and money that way. Anyway that is my experience.

25+ trades per day !? 6300+ pips for the month to date !? Wow ! Very impressive bob..

[dispell]

I'm expecting aud to fall further, but so far, no signals appearing.
What would you guys do in a situation like this?

[art]

morning all missed those big moves on aud, boo, hoo,

[lonelytrader]

I'm expecting aud to fall further, but so far, no signals appearing.
What would you guys do in a situation like this?

what do you mean, all the AUD pairs have been showing sell signals... well except for AUDCAD