Hi all
I'm thinking about getting rid of the "cesarnc factor" in my trades...
What about doing this: place a position at Frankfurt open, at the direction the market is appearing to go - just an educated guess
TP 80 pips
Stop & Reverse 30 pips, new TP 50-80? And go on checking during the day.
Don't know about the close in case TP is not reached...... Maybe on US open + 2 hours, or reversal indication, whatever.
Still unsure on this SAR positioning though. I mean, there's the chance of triggering this SAR and then boucing back. In this case it would be nice to have another order @ market open price in the same direction of the 1st position....
Best case scenario is 80 pips profit straight shot.
Doing this is that correct to affirm that the maximum loss will be locked at 29 pips? I do worse than that when I'm overtrading trying to catch up the direction
I'm thinking about this based on the usual 100+pips daily on Cable.
Collateral effect is getting rid of fibos, RSI, EMAs, geess....
Comments & suggestion highly appreciated. Thanks
César
I'm thinking about getting rid of the "cesarnc factor" in my trades...
What about doing this: place a position at Frankfurt open, at the direction the market is appearing to go - just an educated guess
TP 80 pips
Stop & Reverse 30 pips, new TP 50-80? And go on checking during the day.
Don't know about the close in case TP is not reached...... Maybe on US open + 2 hours, or reversal indication, whatever.
Still unsure on this SAR positioning though. I mean, there's the chance of triggering this SAR and then boucing back. In this case it would be nice to have another order @ market open price in the same direction of the 1st position....
Best case scenario is 80 pips profit straight shot.
Doing this is that correct to affirm that the maximum loss will be locked at 29 pips? I do worse than that when I'm overtrading trying to catch up the direction
I'm thinking about this based on the usual 100+pips daily on Cable.
Collateral effect is getting rid of fibos, RSI, EMAs, geess....
Comments & suggestion highly appreciated. Thanks
César