FOREX PRO Weekly December 03-07, 2012

Sive Morten

Special Consultant to the FPA
Messages
12,852
Good morning,
small add-on to today's update - something like butterfly "Buy" is forming right now. What is interesting is that if it will be 1.618 and market will reverse up - this could give daily stop grabber...
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mjunkyard

Private, 1st Class
Messages
60
Thanks for adding an update!
This is like dream coming true. Getting updates from sive during the day!!
sincerely
Mjunkyard
 

mjunkyard

Private, 1st Class
Messages
60
Dear Sive;
I would like to ask you a small question about today's class.
You spoke about moving the stop to the b/e.
The question is when do I move it? In other words; When do I decide that it's not worth it to risk those few pips that I've put as a stop loss for the original trade.
Thanks again
Mjunkyard
 

squidge42

Corporal
Messages
140
50% major retracement (my Euro favourite), combined MPP and WS1 and a BRN psych level of 1.29---surely now?

bounce off the weekly stop grab low too and could finish daily stop grab....

in for a penny as they say.....
 

FreddyFX

Sergeant
Messages
358
Dear Sive;
I would like to ask you a small question about today's class.
You spoke about moving the stop to the b/e.
The question is when do I move it? In other words; When do I decide that it's not worth it to risk those few pips that I've put as a stop loss for the original trade.
Thanks again
Mjunkyard
A solution you may want to consider is to start taking little parts of your position out every so many points (I trade 5 dec. platforms).
Personally I don't like to leave any position open very long, but that fits with me being a scalper.

Or use a TS (Trailing Stop), that way you don't need to stay glued to your screens that much.
 
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