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ok, entered a long in the gbbusd:
<a href='http://www.myfxbook.com/files/biz0101/65.png' target='_blank'><img src='http://www.myfxbook.com/files/biz0101/65.png'/></a>
we have a double support - one of the new uptrend channel and another of the large downward channel (resistance becomes support).
also it does look like the usd is weakening in the other pairs.
i've placed a tight sl at 1.55 just in case i'm wrong..
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ok, i'll give it a shot [smiley]
firstly, since you don't have any experience, do not use any robots until you understand their inner workings - this is probably the fastest and easiest way to wipe your account clean.
cannot comment on the caspian ea but can answer your second question:
what you need is a pip calculator - there's a nice one here: http://www.ibfx.com/tools/pip-calculator.aspx
calculate how much a pip worth in your trade, then you can get the number of pips ($sl/$pip = number of pips)
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[quote]biz0101 posted:
sold gbpusd again:
<a href='http://www.myfxbook.com/files/biz0101/62.png' target='_blank'><img src='http://www.myfxbook.com/files/biz0101/62.png'/></a>
[/quote]
price has completed the channel - i've got out with about +240 pips (+180, +60) with this move. i've also closed the usdcad position for +5 since it doesn't look good.
not sure at the moment how will the gbpusd continue - if it goes down, i'll wait for a retrace - might try a long one but need to see first the usd weakening on other pairs.
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[quote]biz0101 posted:
similar channel in eurusd which suggests a bullish movement in the usd:
<a href='http://www.myfxbook.com/files/biz0101/63.png' target='_blank'><img src='http://www.myfxbook.com/files/biz0101/63.png'/></a>
[/quote]
the eurusd has reached a cross road:
<a href='http://www.myfxbook.com/files/biz0101/64.png' target='_blank'><img src='http://www.myfxbook.com/files/biz0101/64.png'/></a>
however, judging by the rapid down move (with practically no retraces), i would say the minor support won't hold it and it would continue down to break the low of 1.3533.
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[quote]stevetrade posted:
I'm just going to forward test it for a while and if it's promising put it live on a small account.
[/quote]
hi steve, i'm just wondering what's your criteria for going live? x profit/drawdown? something specific?
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similar channel in eurusd which suggests a bullish movement in the usd:
<a href='http://www.myfxbook.com/files/biz0101/63.png' target='_blank'><img src='http://www.myfxbook.com/files/biz0101/63.png'/></a>
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sold gbpusd again:
<a href='http://www.myfxbook.com/files/biz0101/62.png' target='_blank'><img src='http://www.myfxbook.com/files/biz0101/62.png'/></a>
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[quote]biz0101 posted:
ok, just entered a long usdcad position - don't want to miss it because of 10 pips..
[/quote]
price is slowly slipping away.. [neutral] i wonder if it continues down? in anyway, i have a stop loss in place at the 1.04 area just in case i'm wrong on this one..
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[quote]Elkart posted:
Trends stop. I'll trade ranging markets as well.
[/quote]
elkart, that's not much info to work with [lol] if you can give me some more pointers, that would be great...
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ok, just entered a long usdcad position - don't want to miss it because of 10 pips..
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