News Focus
News Focus
icon url

help me

06/04/08 9:12 AM

#12678 RE: help me #12677

icon url

simplegreen

06/04/08 9:32 AM

#12679 RE: help me #12677

help me...maybe I shouldnt say this but I DO NOT use stops...when I enter a position I sit near the trigger with buy/sell box open to instantly close it if need be.A part of my practice time I used stops as all advise and I find them counterproductive because a pair might continue in a strong trend on 1 hour or 30 minute but the zig zag of 5 minute or 15 minute can take you into the loss column quickly.Loose stops are lousy because they insure larger losses in the whipsaw trading and tight stops are a sure way to get stopped out from my experience.Also RE: my previous post about the early morning being dangerous in FOREX...I seldom have an open position later than 7:10 or so CST..I let the news wreak its havoc then check conditions after 9:30-10:00 CST...after that I see where techs are and trends are established on the 5-15 minute candles then decide if I want to jump in somewhere.