Exited Standing from Friday:
Economy Limit @ 2.0872 Exit 2.0787 85 Infection
You will observe that hooks and I will play very very aggressively. Both from a trade setup point of view, and from a MM standpoint as well. I really don't suggest this if you're new.
Money in trading is created from getting in the market with the most risk you can take at the right times. For me, if I see a pinbar on a weekly or daily, I will input around 2-3 percent risk, and then double that at another trade installment.
By way of example, this week I am looking at getting in on the gap drama, and then scale-in on the break of the snare.
At that point, assuming it hits both limitations, I'm in at around 6-8 percent risk. However, this is accepted by me. And that's what is critical.
All other trade setups are 3 percent per transaction.
This week will probably be all about enjoying with this cable trade suitably. If I get just 1 transaction I still need it to be in cable.
For me, I see GBPUSD and for that matter, all US pairs, gaining a lot of strength with the momentum from Friday. I am now beginning to wonder if we will even see a pullback. There has been no pullback so this means it is going to run hard.
My 0772 limitation did activate. So I am currently short. I will be seeking to climb in at a rest of 0750 (see jpeg), or a pullback into 2.0890 (resistance)...
I've additionally mimicked my profit target to 2.0630 in a trendline dip on 4H...
Well, as usual you may be right... since I have not lived in a small indiana town of 450 !!! But That's a huge gap and moving back I can not find many occasions that a gap will probably remain open long... I'm leery... I got out of the triggered PB at this mornings smallest so far... we have run down a complete 500 pips siince the down turn started... some retrace is due perhaps, to come up and shut the gap ( ? ) Then I shall look to short again... Bu tmy CAD long remains open...
Originally Posted by ;
Alright. I had stated earlier in my posts I was out at around 0640...
But I got up this morning, and I started thinking about this pinbar. Can be a pinbar going to go 100 pips and then that's it? Very rarely. Usually, there is a pinbar the start of a fall.
So... I transferred my profit goal around 0460. And I'm glad I did. We went through first support this morning just like knife through butter...
Nice to see you got a journal Mr. T.
I'll enjoy seeing some of your trades.
You rock over the man on your avatar.
Peace,
Tom