[j.holloway]

All SL and no TP make Homer something something...

Looks like we're out of the mess (I hope!!)... took short on signal just now. If I hit another SL i might just GO CRAZY

[DaveC]

Originally Posted by j.holloway

All SL and no TP make Homer something something...

Looks like we're out of the mess (I hope!!)... took short on signal just now. If I hit another SL i might just GO CRAZY

My down arrow is blinking like a pedestrian crossing, so I'll give it 5 mins until the end of the candle to see if it paints.

[DaveC]

Didn't print and ProFX01 is still under PA from the previous long signal, so I'm gonna let this candle play out and see where we are at the next.

[j.holloway]

When I jumped in the price was dropping very quickly so I took the trade. Glad I wasn't here for the past 15 mins though, as I'd have been panicking.. but I may get lucky tonight... back in the black again, at least...

[sonoio]

Originally Posted by GT3RS

I interpret "the power of quitting" as meaning that you must not overtrade. Alex, Jim and several other people only take one trade a day - win or lose.

So you're trading this on the 4hr timeframe eh? Interesting. Successful?

For swing trading on the 4 hour chart ProFx is great but you should be patient. Advantage is that you spend only minimum time to monitor trades. Disadvantage is that you need to hold trades overnight.

[DaveC]

I assume there's at least some of us in this morning's cable short. The manual for the system says to avoid trading around major news, so what's your thoughts on the CPI data due out in an hour. Is anyone closing or are you riding it out?

Thanks

Dave

[dmagan01]

I closed mine at B/E.

[ForexEASystems]

Cable did not show much price action during the last days. Looks like every trader is busy shorting the Euro against the Dollar

2010 05 17

GBPUSD Long

Entry: 1.44156
Stop Loss: 1.43550
Take Profit: 1.45156

Exit: 1.44816 (end of US session)
Profit/Loss: +66 Pips

Comment: Trade was almost reaching TP...then almost hit the stop and finally trade was to close at the end from the US session.

--------------------------------------------------------------

2010 05 18

GBPUSD Long

Entry: 1.44718
Stop Loss: 1.44218
Take Profit: 1.45718

Exit: 1.44568 (market direction changed)
Profit/Loss: -15 Pips

Comment: Was a good day for US traders. See red line (short trade)

--------------------------------------------------------------

Total for actual month: +436 Pips

--------------------------------------------------------------

Today

GBPUSD Short

Entry: 1.42753
Stop Loss: 1.43364
Take Profit: 1.41753

Exit: Trade is still open, we will see how it play out.

[DaveC]

Alex

So you are trading through the CPI data release then?

Also If i have seen it correctly you closed out for -15pips when just one indicator changed colour and before the direction arrow printed. Do you consider one indicator sufficient to be a change of direction?


Thanks

Could have closed for +20, held on and regretted it. Another day, another stop loss

[ForexEASystems]

Originally Posted by DaveC

Alex

So you are trading through the CPI data release then?

Also If i have seen it correctly you closed out for -15pips when just one indicator changed colour and before the direction arrow printed. Do you consider one indicator sufficient to be a change of direction?


Thanks

Could have closed for +20, held on and regretted it. Another day, another stop loss

Hi, i closed the trade because direction was changing quickly because of bad news for the EURO zone during the UK session.

When i am about to enter a trade i dont do so shortly before news. When i am already in the trade i monitor the trade during news very close to make sure i can close the trade quickly when required.