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snapdragon1970 (snapdragon1970)
Mar 31 2017 at 13:55
1944 posts
Yeah I always have tight stops it place 2% at most, I was away for Lunch ,good thing I had my stop in place.

"They mistook leverage with genius".
mlawson71
Apr 01 2017 at 11:24
1487 posts
snapdragon1970 posted:
Yeah I always have tight stops it place 2% at most, I was away for Lunch ,good thing I had my stop in place.


I'm glad then. This is why I always advocate for people to use stop loss.

snapdragon1970 (snapdragon1970)
Apr 01 2017 at 16:32
1944 posts
Yeah you can look for other opportunities once you have your stop loss in place and you know exactly how much your willing to lose ,if it goes against you. I know some traders that trade without stop losses ,sometimes you can be very lucky and it will pull back if your entry is close to equilibrium ,unfortunately what we think is the right price isn't always what the banks think. If your looking to build wealth best to keep losses small.

"They mistook leverage with genius".
mlawson71
Apr 02 2017 at 11:15
1487 posts
snapdragon1970 posted:
Yeah you can look for other opportunities once you have your stop loss in place and you know exactly how much your willing to lose ,if it goes against you. I know some traders that trade without stop losses ,sometimes you can be very lucky and it will pull back if your entry is close to equilibrium ,unfortunately what we think is the right price isn't always what the banks think. If your looking to build wealth best to keep losses small.


I couldn't agree more. Trading without a SL has always seemed like such an unnecessary risk to me. Unexpected spikes and pullbacks are always possible, often they're large enough to cause serious trouble if you don't have a SL set.

snapdragon1970 (snapdragon1970)
Apr 02 2017 at 12:04
1944 posts
I was always taught to trade spikes on extremes or on pullbacks ,wait for them to occur then go long or short, BB is a useful indicator for this kind of trading, there is a good method for not getting caught out most of the time.

"They mistook leverage with genius".
bestools
besttools
Apr 02 2017 at 13:46
898 posts

Soon the election in France and Germany, now he is talking about Frexit😕

snapdragon1970 (snapdragon1970)
Apr 02 2017 at 17:24
1944 posts
besttools posted:

Soon the election in France and Germany, now he is talking about Frexit😕


Le Pen will never get to run France, too much opposition.

"They mistook leverage with genius".
ChangGoh
Apr 03 2017 at 07:27
36 posts
The three-day losing streak in the EUR/GBP appears to have come to a halt this Monday morning in Asia.

The cross was last seen trading around 0.8513 handle. The UK manufacturing number due later today is expected to show the pace of expansion in the activity ticked higher to 55.1 in March from the Feb figure of 54.6.

Currently, EUR/GBP is trading at 0.85075, up + 0.26%, having posted a daily high at 0.85214 and low at 0.84897.

EUR/GBP Technical Levels:
A break above 0.8555 (100-DMA) would expose 0.8582 (50-DMA + 5-DMA) and 0.86 (zero figure). On the other hand, a breakdown of support at 0.8485 (Friday’s low) would open doors for a sell-off to 0.8450 (Feb 13 low) and 0.8422 (Feb 23 low).

TREND INDEX:
Bullish

AVG SELL PRICE:
0.0000

AVG BUY PRICE:
0.8623

RECOMMENDATION:
BUY




Attachments:


snapdragon1970 (snapdragon1970)
Apr 03 2017 at 10:45
1944 posts
I took a quick Long at the open last night and closed out at 1.25, it has retested the 85100 level which to me is a bullish sign ,I'm Long until I see weakness.

"They mistook leverage with genius".
mlawson71
Apr 03 2017 at 11:49
1487 posts
I took a long too, right after the market opened and closed it once it recovered the gap it opened with, at 0.8520.

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