:eek: It took me a little bit longer to blow 10k, not that much longer though I must admit! It's nice to see I contributed something towards this
placed real trade @ 3:21CST short 1 GBP/USD @ 1.6542 stop: 1.6577 target: 1.6442 trailing stop engaged GBP, EUR way overbought and CHF way oversold...should see sell-off starting about now into Asian and overnight...
lol, I wish I had it to give away! Nah, I probably paid for all his holidays in '96 and '97 though. No wonder he was the richest man in the City, back then they were robbers and I was green, a perfect combination....for them!
how are you basing over-bought/over sold conditions?.. And if so, I don't believe "over-bought & over-sold" should be the sole rational basis for you to enter short. I bought GBP earlier this morning at $1.6477 & holding till $1.6608 with stops @ $1.6455. GBP can potentially go to $1.6703 if EUR decides to rally to 1.43 today or tomorrow. If I were you, I wouldn't short when it is a deliberate uptrend. if GBPUSD closes above $1.6549 I am bullish to 1.6608.. might see some profit taking at that level..
I adjusted this trade @ 4:38pm CST stop: 1.6562 target: 1.6502 Trailing stop: distance: 10 step: 30 Questions: do any of you use trailing stops? if yes how and what ratios?...like what I did above?
wow...you must use serious huge stops...what 100-200 pips...or...you are just a very good trader...as for the overbought/oversoled...just looked at a 4 hour chart over the days...any more move up for euro and gbp and down for chf would mean 'into new territory'...therefore...I think it is oOB and OS...thoughts?