Yes, for stops, I try to just use them for emergencies. It builds character to try to take all your exits manually, and it's not that hard to exit manually better than a stop that will always take you out at a local minimum of profit. There is no ...

Multi-Lot Multi-Timeframe Position trading

Stops can be frustrating. They are a careful balance between protecting capital and unrealized gains and not wanting to be kicked out of a good trade too early. My goals and settings in trailing stops changes depending on where I am in the trade. ...

Multi-Lot Multi-Timeframe Position trading

The Yen is recovering some of it's value this week. The Bank of Japan can't be happy about that. The BOJ announced increased QE for 2015 back in Nov of 2014, so we can expect them to move soon. Be patient, but be prepared to catch the next wave of ...

Multi-Lot Multi-Timeframe Position trading

I said I'd update the UCad long trade. The first lot on this trade was taken on 12/11 and is up about +250 pips. An additional 4 lots have been added to the trade over the past few weeks. We took a little swing down yesterday for a 38.2% retracement ...

Multi-Lot Multi-Timeframe Position trading

Generally, I'll move my stop loss while the price is moving in my favor and after I am well into profit. The stop loss is never moved against the direction of the trade. If you see you entered a trade with too tight a stoploss, it's best to exit ...

Multi-Lot Multi-Timeframe Position trading

Yes, this is similar to your previous question #2. I'm more likely to exit a 2 lot trade at break even or for a small loss. A 3 lot set-up should always exit with a profit. There will be many of these early exits for the few that run a long way with ...

Multi-Lot Multi-Timeframe Position trading

Sure AG, we'll do that.

Multi-Lot Multi-Timeframe Position trading

Here's a 5 lot trade currently running 3 weeks on UCad long. It's up about +600 pips total. That pays for a lot of small losses to get in it. Even if I only exit 3/4ths of the profit, I'm still well ahead: image

Multi-Lot Multi-Timeframe Position trading

Continuing answering Eric's questions: Another good question. Yes, exiting 2 lots for a small profit if price moves against a new 3rd lot entry would be a setback to setting up a multi lot trade. There will be a lot of these exits and a lot of ...

Multi-Lot Multi-Timeframe Position trading

Happy New Year! I got caught in the GJ downswing and bailed out with a little profit from the trade. I'm sitting out the retracement and going to try to re-enter as near the bottom as I can. It looks like it's almost ready for a re-entry now, but ...

Multi-Lot Multi-Timeframe Position trading

The core of this type of trading is that to profit we must trade some sort of trend. We can trade very short intraday trends, medium term swing trades of a few days or very long ones, but without a trend we are just trading random chaos and that can ...

Multi-Lot Multi-Timeframe Position trading

You are welcome Jimmy. There was a lot of discussion last year about many subjects. I'd like to start out the new year with a summary of things discussed so far, so off we go!

Multi-Lot Multi-Timeframe Position trading

We can discuss any of the above issues more if you like. Best success to you in the new year.

Multi-Lot Multi-Timeframe Position trading

I'm waiting for a clearer sign of a breakout in the EA for the moment. The H4 shows the range bound price pattern better, so that's the place I'd be looking first for a possible breakout. I thought we had a breakout forming up on Dec 23rd when price ...

Multi-Lot Multi-Timeframe Position trading

That's basically the sort of analysis I go through to evaluate trades. I recently went through the same sort of analysis on the AUD/USD short trade. As noted above the RBA wants to move the Aussie lower. The US Fed has clearly made moves to reduce ...

Multi-Lot Multi-Timeframe Position trading

Either the Daily EA will break out long confirming the uptrend move, or it will retrace invalidating this trade idea. While we are waiting for the market to evaluate our trade idea, we can consider the fundamental reasons behind this set-up. For ...

Multi-Lot Multi-Timeframe Position trading

Price has crossed the 10 sma here signaling a possible long trade and that technical signal is being confirmed by the RSI above 50%. In most cases that cross is the beginning of a long running trend that will run for months or years. The weekly ...

Multi-Lot Multi-Timeframe Position trading

Some small portion of swing trades can be converted to long term position trades. That's usually the way I enter a position trade, but many traders don't have the time to spend in front of a computer trading in and out of pairs during the week until ...

Multi-Lot Multi-Timeframe Position trading

Position Trade Set-Up Most swing trades will not turn into good position trades. Just as price made a good swing up for a few hundred pips, it will swing back down reverting to a longer term mean value. If a trader has the time to spend at the ...

Multi-Lot Multi-Timeframe Position trading

We've covered a lot of ground here, entries, exits, trade management, risk management, money management, multi-lot, multi-timeframe and a bit of trading psychology. If there are no other comments or questions, I'd like to embark on a discussion of ...

Multi-Lot Multi-Timeframe Position trading