Posts by "alan111s"

Ashraf

Please don't misunderstand me. I am not saying that you are incorrectly calling your trades 'hit all targets' when they haven't.

It's just depending on how one sets up entry, you may be able to call a trade filled, but your clients may not, depending on their risk appetite.

The example I gave was a really good one where your entry range was 1.3450 - 1.3500 and the trade was 'filled' because price spiked 1.3451. The Stop Loss was 1.3530. I personally didn't want 80 pips to my stop so I set my entry price higher and missed the trade.

Because I am in Australia and a lot of the action happens during US session, I regularly have to set and forget trades rather than wait for a technical signal. With the choppiness, over the last few months, I have found it very hard to pick the right trades, so am trying to maximize Risk Reward ratio, by waiting until price nears the end of the range closest to the Stop Loss level before entering. I'm also learning how to judge trades by confidence level and only take the ones with a confluence of factors.

Now I know you are very likely say no to this, but have you considered adding a kind of confidence indicator to your trades, or is that 'a can of worms' that you don't want to go near?

Regards

Alan



I don't know what the answer is - At one point I set e

jacek

5 waves down to 1.0047, so far only 1 wave up to 1.0180, so maybe brief pullback then up.....

jacek

I appreciate your reply. At least I know that it's not just me !

As you say, there is no 'magic bullet'. I was already starting to 'just treat a signal service like an advisory service to help identify opportunities which then you trade yourself.'

I still have issues with timing and patience and picking the right trades. However, I'm not losing money, just not making any !!!! When I say that I have probably executed more than 500 trades since I started 6 months ago, I must be making money - am just giving it to the broker. LOL.

I think you have helped me answer my own question. Instead of blindly entering trades, I am going to combine AL's ideas with some technical analysis and only when I get a confluence between the two will I enter a trade.

I think also that AL bases his trades on known fundamentals but sometimes market sentiment changes and this can have a profound impact.

Like last night for example, I nearly got stopped out EURJPY but I dropped my SL by 10 pips (don't normally do this but saw downside momentum had slowed seriously around 103.8) As a result I rescued it, and got out around breakeven. But I had to stay up late nursing it.

I also had a order setup for AL's short EURUSD but it never activated. AL's EURUSD short 'worked' because his lowest entry point was 1.3450 and the market only just spiked it. This is a great example where AL can say 'hit all targets' but many subscribers who set this up to automatically activate would probably have set the level higher than 1.3450 and missed the entry. If they were monitoring the market closely, they might have seen the market reverse and activate it manually at a price close to 1.3450.

I made up for it by managing a quick scalp of GBPUSD for the final 30 pips push up to 1.57.

No, I didn't take it. I was watching levels about 11pm Melbourne time last night (NY open) CAD was 1.012 and EUR about 1.382. Anyway, it all looked bullish and risk on at the time so I passed, which was correct at the time as USD went down for about an hour after I went to bed. Sometimes the time diff really p...s me off! Should have gone with it but have been burnt a few times recently with overnight moves.

Anyway, not doing too well with AL's premium trades, keep taking the stoppers and missing the 'hit all targets'.... am back to my account opening levels when I was 25% up about a month ago.

Am trying to decide whether to stick with day trading or move into longer term swing.

What effect on the EUR would a 60% haircut of Greece's debt have?