Time for another short 1.3666

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If I see a reason, of course I'll get out sooner. When the gap is filled I'll place s/l 20 pips or so above it. with more than 30 pips average profit locked in.

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I would think that fixed spread is not the most important thing. Financial stability is for me much more important. But that is maybe because I didn't lose my first account with bad trading, I lost in in the bankruptcy of Refco and 2 years later I ...

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You are right. Its just that I saw a possibility to get in at a good level. I'm not trading just because I have to trade. Many weeks I don't trade on Sunday afternoons.

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The difference is this: I'm in the trade and I'm already in profit. You wait till the spread goes down, So you have no loss and no profit. I'd rather have my profit then having nothing at all.

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What is 10 pips if your target is more than 200 pips?

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Forex is all about gaps, at Oanda the smallest size the price can jump is 1 tenth of a pip, called pipette. So price always jumps in gaps. There are 10 gaps in 1 pip.

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Distance to the last short. If it gets that far I'm building up several shorts up to the Friday high. Currently I have 3 open shorts. When it hit s/l it will cost me 1.02% of capital. If it hits target I'll get 1.63% of capital. But it seems to go ...

EURUSD

Added a short @ 1.3665, target 1.3430, stop 1.3750

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That's the reason that I don't hold over the weekend anymore. I closed Friday with a small loss but now I'm happy that I did.

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Your broker will most likely just try to screw you. That's his job and ultimate pleasure.

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[quote=Passholder;2620945]Listen I was short from 1.3600 on friday. When it was in the money friday in the 4pm houru I mived my stop to 1.3594. Lesson to be learned that I learned long time ago: Don't hold trades over the weekend.

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the 30 pips, Oanda spread is 10 pips at the moment I have 2 shorts open already, 1 @ 1.3612 and 1 @ 1.3625 and keep building up. Target 1.3430, Stop 1.3750. Big s/l this time coz I'm quite convinced that it doesn't get that far.

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???????????????

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Playing the gap in my experience is very little risk, and it closes at least 95 % of the time or more. And losing half of your account trying to close the gap looks to me as poor money management. There are S/L's to protect you from that.

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No, its the gap from NY close until most brokers open, I think that is around 3 PM PST. Oanda started moving @ 11:30 PST with no gap as usual. Usually I set a trade @ 3PM to close the gap.

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Right now it is up --- against my expectation of course, 1.3619 on Oanda.

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Don't know, I'm drunk now anyway so I don't care But yes I think I'm going short tomorrow (hic) I know one thing, gravity is playing a big role currently to have me stay up and awake, so i think gravity will bring eu down if I happen to wake up to ...

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One thing is funny, if I draw those fib lines then the 50% fib is about the same as the 23.6 fib on the chart I posted. It strengthens my opinion that it might retrace to that level.

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Hmmmm, thanks. Food for thoughts

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