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pls i need urgent help!!

Discussion in 'General Forex Talk' started by Theocracy Pat, Oct 25, 2007.

  1. Theocracy Pat

    Theocracy Pat Recruit

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    Quite sometime i hav been loosing much, due to my new trading strategy(STRADDLE). Pls i wish to hav a sound system even if it requires some bucks from me. BUt pls consider my present situation. My best regards to MY GREAT MENTOR, SIR FELIX, Who taught me how trade the news.


    Keep up with your good work.
    Wishing you all500pips today. To your success,
    THEOCRACTY. :cool:
     
    #1 Theocracy Pat, Oct 25, 2007
    Last edited: Oct 25, 2007
  2. Pharaoh

    Pharaoh Colonel

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    I've both made and lost money (paper accounts only) doing straddles on the GBPUSD for US news events. If the movement is small, nothing happens. If the movement is big, I win. If the movement is modest and choppy, the one (or both) halves of the straddle activate and then stop out before hitting their profit targets.

    To avoid this, I try to only place straddles around news events where there is a good chance of significant movement. Also, if your platform supports OCO, then you can at least avoid having the indignity of getting nailed when the second half of your straddle activates and stops out before you can manually cancel it.

    To the best of my (limited) knowledge, MT4 doesn't support OCO. It's possible that there might be an EA or script that could do this for me (I should really look for one).
     
  3. pfxs

    pfxs Recruit

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    Hi Pat, Straddling is a sure fire way to blow up an account. It may work once or twice but will wick you in on the top and bottom only to stop you out of both positions more often than not. Is that the only analysis you do or do you "straddle" in conjunction with something else. I will be happy to speak with you about your current system as well as go into my technical and fundamental "Systems" that i currently "sucessfully" use.
     
    #3 pfxs, Oct 25, 2007
    Last edited: Oct 25, 2007
  4. egg

    egg Recruit

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    Hi,
    I am a very new comer in forex. Got very lucky can join this forum. Is anyone willing to explain what Straddle is? Thanks :confused:
     
  5. andydoc

    andydoc Private

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    Straddle is putting a stop order either side of the current price in order to capture a breakout move. So if the price is 200, you might put a stop buy at 220, and a stop sell at 180. A large move either way would then get you into profit. However, if the price moves to 225 then to 175 then back to 200 you will lose 50 points plus the spread!
     
  6. Pharaoh

    Pharaoh Colonel

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    A straddle is best done when you expect a MAJOR breakout, with a big, fast move on one direction (like the interest rate cut caused).

    You also must put a stoploss in place. A minor breakout can do exactly what Andydoc describes, but if you had 10 pip stoplosses, then that scenario would have only cost you 20 pips. If your platform supports OCO, then you would only lose 10 pips.
     
  7. egg

    egg Recruit

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    Andydoc, Pharaoh...
    THANKS A LOT !!! :):)
     
  8. dust

    dust Recruit

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    hi,

    try google = 4h macd strategy

    good luck
     
    #8 dust, Oct 26, 2007
    Last edited: Oct 29, 2007
  9. Migo

    Migo Private, 1st Class

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    I use the MACD strategy but for 30min, 45min, & 1 hour. This seems to work for me.
     

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