Baruch......yes, it's an audio room (both live chat & txt)...they're essentially intraday traders, but as I say, one or two pretty good folk in there occasionally....quite a few peeps new to Forex, so a mixture of experience levels....I don't frequent the room regularly, too busy concentrating on trading, but when I'm 'in a move' & it simply requires 'managing', I look in to see what's ocurring!
Baruch.........yes, still in the longs. Last entry (8320) stop was taken out, but remaining stops tucked in below the century pitch at 8290.....if cable kicks on, I'll assess & move stops up accordingly.
for me its a matter of looking for divergence in prices in % terms then looking to take both sides possibly and covering when they come back in line or when one is really kicking and the other is steady
Buk, I suppose you buy/sell a NEW 00 cross - or what? Do you also take the second or third as a signal?
on a move such as this Baruch, yes, I'll add to a bust of the round number (10/90), as long as we aren't approaching any other major (obvious) s/r points.....this move thru 8300 was a fib area/resist test, so hung fire until it cleared the 8210 pitch....as it happens, I cranked the stop to b/e (on this entry) too early, and it got snapped.....but generally adhering to the 20 pip stop rule, will pay off in a good, trending move!....as the move has accumulated good profits, I'm not too concerned about giving back the odd trade entry....and on this leg up have been stopped 4 times thru the century clips. and yes, once stopped out, I'll add back above the high/low of the previous stop loss....having just added back in at 8362 (break of the high), stop at 42.
Buk, I'm very dumb - so let me ask: If GBP goes from 1.2230 to 1.2190 - you sell If it goes from 1.2190 to 1.2215 - you buy because of s/l If it from there goes to 1.2195 and from there to 1.2225 - do you buy again?
Baruch, Do you understand this quote? If so could you please explain it, I don't understand the meaning of "Sell to the sleeping point." Thanks