Yes, that's how I calculate my risk as well though there is something to be said for holding onto the longer trades because with the waiting for a retrace comes a slightly increased risk that when entering another trade from the retrace all your ...

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Apparently Mervyn King was quoted in a newspaper today as saying "It would be helpful for the pound to drop in value". As soon as the markets opened today...it plummeted. I bet they banked a lot of pips themselves on that one I'm glad I got some ...

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Pips dude...pips We only care about the amount of pips At least you have profit and you exited for valid reasons.

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Equity will be larger because the re-entry will be on a shorter timeframe?

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Anyone who trades GBPJPY, do you think the retraces often move past the Ks and regularly test the kumo instead? I am wondering whether to bank some pips after this large move because it's bound to retrace after that - it has done it's ADR in a ...

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Good idea, it's bound to retrace at some point after a 150pip move.

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Yes, you do but the signal was last night. Of course, it's a daily trade so you'd be in it for the long run but your stop will need to be a bit wider than if you had got in lastnight. Be careful around the support zone at 1.6100 ish

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What the hell happened to the £ overnight? I wake up and I am +76 on GBPCHF +240 on GBPJPY +96 on GBPUSD Pit yhe lot size was smaller as these are long term trades. Question is do I take the pips now or wait for the long term - hmm

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The cross on the GBPUSD of course is threatened by this tight range the pair has been in since May/June. The question is do we wait for it to clear support or enter now? image

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That's my own indicator, not fully finished yet. You can also find some existing ones in the Warriors' resources folder - try the link at the bottom of vic elc's posts. We just got a cross down on the GBPUSD Daily chart. I'm in for the long run on ...

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It's in Dealbook. They have all sorts of weird timeframes including 45mins, 50, 3mins, 8mins, etc. You can do this in Metatrader actually but you need a period converter to sort everything out for you. Kind of pointless as most traders don't use ...

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A slightly strange question but my broker gives me the option of an 8hr chart. Obviously, this is in between the daily and the 4hr and on the GJ this showed me a sell with a Ts/Ks cross at about 150.60. Any opinions on 8hr charts? I doubt many ...

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I don't know specifically about the DJ correlation but at 1815-1830GMT there was the FOMC statement. All USD pairs went nuts.

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There is a bounce off the 4hr Ks on the EURGBP...worth looking at and keeping an eye on for some H4 or H1 crosses. I suspect a big retrace at some point though because of the recent big move. image

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quote However, taking a look at how the EUR/USD image and USD/JPY image traded after all of the FOMC announcements made this year, we can report no consistency other than the fact there is generally a tremendous amount of volatility.

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What a day, news reports all over the place. Hopefully, we can resume to normal trading now.

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EURJPY has a 15min cross UP - any thoughts? The 30min has a flat Ks right on the kumo though. Obviously, wait until after the news out of the US. image

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Anyone else take this one yesterday? It's virtually impossible to stay out of news reports on the longer trades so I'm wondering what else I could have looked out for... I feel it's important to concentrate more on the bad trades than the good ones ...

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This trade didn't work out quite as intended. It was 1 hr sell on the GBPJPY with a stop at the 4hr Ks. In hindsight, the MPC news report today is what moved the price up so much but I guess it had started a little before that. image

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The price is in the cloud on the Daily (almost below it). 4hr trend is down. 1hr trend is up. This is far from perfect to enter a buy on the M30 - also with resistance at 1.6450ish. Furthermore, most expect the GU to go down and down in the next few ...

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