Since I got in late, I moved my stop loss up once I had profits. My stop loss is now moved up to lock in at least 9.4 Pips profit. Not much, but I will take it as late as I caught the move.

james16 Chart Thread

Hehe, now I read it, I sound like a real gun slinger. I agreed it was a strong PB, and I do feel I missed the easy start to the downward movement, the PB was strong enough to still take a calculated risk at gaining some Pips. I am following it ...

james16 Chart Thread

Dang, was busy at work, I missed the 4 hr PB on the GBPUSD. Good call! I am on the FX Game, I need to learn. So I took the trade at 2.0493, set the profit target to 2.0410 and the stop loss to 2.0510. Lets see which way this sucker breaks.

james16 Chart Thread

Thank you so much, this helped to start to clear it up. I have read about leverage and the pip pricing structure, it just did not all come together. I have read Peter's thread, and it is GREAT. I did not want to even post on this forum, until I had ...

james16 Chart Thread

Thanks man, looking over it might help me A LOT. I would love to be able to trade without using leverage, if possible. My e-mail is [email protected] Or you can send it to me by private message here. Thank you for your time. I hope when I get this ...

james16 Chart Thread

Okay, I am confused. I hope this is not seen as a distraction from this wonderful thread. I have read a lot of books on trading, and I am greatly interested, but something is not clicking. Okay, so you don't have to buy a full lot, or a full ...

james16 Chart Thread

So .01 Lots is how you could position size correctly. I was not certain if you had to trade a full lot (Mini, Micro, etc.) and use leverage or not. Looks like you are not forced to use leverage, you can instead trade in portions of lots. It is ...

james16 Chart Thread

Thank you so much for your detailed explanation. It makes perfect sense. I have read Van Tharpe's books (what great reads) and also from Elder on position sizing v. risk thought processes. Where I was confused is I know with Forex you trade Lots (or ...

james16 Chart Thread

On your first trade, you risked 313 Pips. On your 2nd trade you risked 89 Pips. I am guessing 313 is close to your 1% limit, where as 89 Pips is a long distance from your 1% limit, but a good place for a stop loss (at the bottom of the Pin Bar). Is ...

james16 Chart Thread

You have a good point. I know what you are saying. The risk is there, and it must be calculated, but it is worth it to increase the risk for such a good set-up. How much leverage do you normally use, and do you trade full lots?

james16 Chart Thread

Thank you for sharing. When risking 313 pips, how many US Dollars does that translate into? Are you trading full lots or mini-lots? Thanks man!

james16 Chart Thread

Just would be interesting to see where the Fib lines would match up compared to that range you selected. You got a great point on the resistence. Looks like it is holding strong (tested and failed yet again) and it is about to go short (down). But I ...

james16 Chart Thread

I got 50 pips, and then moved my close up to break even. I am letting it ride to maybe the top of the range (where my target is set).

james16 Chart Thread

mamutot, do you ever use Fib lines? If so, it might give a better picture of conflusion at the drawn Trend Line.

james16 Chart Thread

Wow, looks like it Tiki. Think it will retrace all the way back to your Fib line? Interesting.

james16 Chart Thread

Thanks guys! I am using Oanda's FX Game simulation (I plan to use Oanda as my broker, so I wanted to get familiar with their software, even if I use MT4 as my primary tool). I locked in my pips at a minimum of at least 40 pips made on the trade. The ...

james16 Chart Thread

I had read here and agreed it was not the best Pin bar possible. So I was not certain if I should take the quick profit (which was up to about 60 pips) or ride it out to my target at the top of the recent range. I am riding it out for now. Live and ...

james16 Chart Thread

Did anyone take the Pin Bar on the Daily GBPUSD? I took it, and was up 50 pips. This is my first demo trade, so I could not decide if I should cash out at a 50 pip game, when my target still had another 30 pips to go. For now I am letting it ride.

james16 Chart Thread

LOL, you are the lone wolf when it comes to Meta Trader. Thank you for your help!

Online Stock/Options Broker

Thank you for sharing this information. Do you like Trade Station's trading platform software? Have you tried Meta Trader 4 for forex before? And this might be a silly question, but I will ask anyway. I have only bought my Mutual Funds through ...

Online Stock/Options Broker