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I have been on a winning streak and now nervous to take new positions

mylin_m19
Feb 01 2013 at 10:02
40 příspěvků
Ok thanks, so I managed to save my capital as my USDCAD, AUDGBP took a beating and hit their stop losses - but my EURGBP has been quite good and locking me more profits as it goes up. I think I can now put in a new trade.. taking all the above into account. Thank you.

Repco
Feb 01 2013 at 10:04
48 příspěvků
mylin_m19 posted:
Ok thanks, so I managed to save my capital as my USDCAD, AUDGBP took a beating and hit their stop losses - but my EURGBP has been quite good and locking me more profits as it goes up. I think I can now put in a new trade.. taking all the above into account. Thank you.


Not a problem, i think for the last few weeks EURGBP will be alot...As EURUSD rallied while GBPUSD plunges; thus EURGBP will go up faster than EURUSD

mylin_m19
Feb 01 2013 at 13:38
40 příspěvků
you know a good trade during non-farm could be long usdcad and long gold .. with tight stop losses; i had usdcad as a new position but i took it out after the non-farm payroll, as i could potentially get better price later, if it maintains it strend, but in hindsight i could have gone long gold as well..

mylin_m19
Feb 01 2013 at 13:39
40 příspěvků
i will just ride my eurgbp now.. :)

Repco
Feb 01 2013 at 15:28
48 příspěvků
mylin_m19 posted:
you know a good trade during non-farm could be long usdcad and long gold .. with tight stop losses; i had usdcad as a new position but i took it out after the non-farm payroll, as i could potentially get better price later, if it maintains it strend, but in hindsight i could have gone long gold as well..


I don't do XAUUSD. I only do Gold Futures GC

mylin_m19
Feb 01 2013 at 15:44
40 příspěvků
Whats the difference between the two?

Trading is awesome.. I am like at 700 now started from 80.. shit i am getting all like nervous again - check list 1) trailing stop losses at place 2) no more trades... thats it right??

Repco
Feb 01 2013 at 15:49
48 příspěvků
mylin_m19 posted:
Whats the difference between the two?

Trading is awesome.. I am like at 700 now started from 80.. shit i am getting all like nervous again - check list 1) trailing stop losses at place 2) no more trades... thats it right??


Difference being, Gold Futures is the centralised, XAUUSD depends on gold futures...And XAUUSD can be manipulated in price feed... Keep the risk down, it will save you lots of issues. Piece of advice-If it comes easy, it goes easy...I have 90+% accuracy on trades previously and was leveraging to the hilt as I am 95% right...But its the 1% or 5% that killed me...

mylin_m19
Feb 01 2013 at 15:58
40 příspěvků
Ok my average opening price is 8329.18 and I am leverage 2.5 times with stop loss at 8587. So if the market moves another 43 pips my stop loss moves another 43 pips. So at the moment I am sitting and doing nothing. This is EURGBP.
The next trade is USDCAD, which I bought today again after the non-farm, as it is still within its trend channel at 9992.6 and have a stop-loss at 9987 with leverage 1 times; but if the market moves 43 pips positive my stop loss will move to 9906 and then follow the same routine as EURGBP.
Dont think I should do anything extra...now and just stay put.

Repco
Feb 01 2013 at 16:01
48 příspěvků
mylin_m19 posted:
Ok my average opening price is 8329.18 and I am leverage 2.5 times with stop loss at 8587. So if the market moves another 43 pips my stop loss moves another 43 pips. So at the moment I am sitting and doing nothing. This is EURGBP.
The next trade is USDCAD, which I bought today again after the non-farm, as it is still within its trend channel at 9992.6 and have a stop-loss at 9987 with leverage 1 times; but if the market moves 43 pips positive my stop loss will move to 9906 and then follow the same routine as EURGBP.
Dont think I should do anything extra...now and just stay put.


Not sure what currency your account is in, as the price looks different. If you are just leveraging 2.5X is alright.....Don't risk what you need for what you want.

mylin_m19
Feb 01 2013 at 16:51
40 příspěvků
my currency is gbp - but i think the price levels should be the same for eurgbp and usdcad? i just get paid in gbp?

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