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shellsnail replied Oct 30, 2013Yes! Fully agree with you. It's easy to fall into the trap of "I'm going to let this run because even though it moved against me by X pips it didn't hit my stop-loss so I still may be right." As a general rule of thumb, that kind of thinking doesn't ...
What is a good entry?
- shellsnail replied Oct 30, 2013
I agree with your first example. Moving your stop to BE is never a good idea if you have a good entry. Price can easily test your entry a first times before actually heading down. However, I think for the second point it really depends. You are ...
What is a good entry?
- shellsnail replied Oct 30, 2013
For example a recent entry on GBP/USD: image I would consider this a good entry because if price moves beyond my entry and proves me wrong, I can very likely get out at breakeven. image
What is a good entry?
- shellsnail replied Oct 30, 2013
Depends on how you look at it, I think our trading methods/ styles are different but our premises are similar. You are more of a momentum trader whereas I focus on exhaustion type of moves to get into the market. Another caveat: Getting into a good ...
What is a good entry?
- shellsnail replied Oct 30, 2013
I think that's a PERFECT entry - those happen but are really rare to come by. But yes, I agree with your general premise for a good entry. Your idea for good exit makes no sense though. You should get out and reduce your delta(exposure). Hedging ...
What is a good entry?
- shellsnail replied Oct 30, 2013
Coming from the perspective where, as long as you take care of the losses, the profits will take care of themselves. I think fading moves is the closest you can get to trading like an institution. And I don't mean just fade any move without prior ...
What is a good entry?
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What is a good entry?
Started Oct 30, 2013|Trading Discussion|20 replies
Here is how I define it: A good entry allows you to get out at break-even when you are wrong ...
- shellsnail commented Oct 13, 2013
that was funny. or perhaps it was pun intended...?
Tucker: Solving too big too fail: where do things stand on resolution
- shellsnail replied Oct 13, 2013
Gold is at a pretty unique price point. The downtrend could seriously accelerate from here and go to levels below 1000 if price does not recover above 1373 soon. That said, it's a good idea to go long here, with targets potentially above the 2012 ...
Only Gold!
- shellsnail commented Oct 1, 2013
GBP is in a very strong monthly uptrend. Would not short any. not even GBP/AUD.
Japan's Abe: stimulus package will be JPY 5trl, will draw up package in early December
- shellsnail commented Oct 1, 2013
Not long term trend, maybe just a 50% pull back on the USD/JPY to 90.4
Japan's Abe: stimulus package will be JPY 5trl, will draw up package in early December
- shellsnail commented Oct 1, 2013
BOJ is going to print JPY no matter what. Now the government is demanding the $, whereas previously there wasn't this source of demand. When the economy improves, more $ is going to be demanded for transactional purposes. Do the math.
Japan's Abe: stimulus package will be JPY 5trl, will draw up package in early December
- shellsnail commented Oct 1, 2013
That's because the central bank and the government are in bed together.
Japan's Abe: stimulus package will be JPY 5trl, will draw up package in early December
- shellsnail commented Oct 1, 2013
The U.S. Labor Department said on Friday that it would not issue the non-farm payrolls report this week if the government is shutdown. url
US Government Shuts Down for First Time in 17 Years
- shellsnail replied Mar 27, 2013
yes, need more liquidity... 9:30 UK news could do the trick.
Trading EURUSD only
- shellsnail replied Mar 27, 2013
The only candle that matters in the 15min MESS was the pinbar at asian lows... because that shows rejection at lows and because 4H was at area where reversal counter-trend move was likely, this confirmation sets the tone... (higher probability move)
Trading EURUSD only
- shellsnail replied Mar 27, 2013
A up-push here could see 24 hours of straight buying take place (driven largely by short covering and the dynamics of 4H chart)
Trading EURUSD only
- shellsnail replied Mar 27, 2013
sorry to hear, this is the frankfurt open move... usually fake...
Trading EURUSD only