Long @ 1.0371 stop @ 1.0295 target 1.0454 Target one hit moving stop to 1.0484 next target @ 1.0675
on July 15th, Thursday at 11pm PST the USDCAD hit 1.0382, then it turned around and went back down to 1.0280, thus would have hit the stop.
I see u do alot of breakout trade, so I take it you do not use Stop Entry Orders with these signals? Do you take them off while you sleep, or not use them at all. Do you use Price Alerts? If so what criteria do you use to determine if the breakout is good while still getting a good price. For instance when 1.0371 broke again later in the day 7am PST it broke it and just kept going. How do you filter for false breakouts but still get a good fill? thanks for the clarification...
I don't do just breakout trades. I use strictly pattern recognition setups with a very disciplined risk management system... You must be a new follower? I do use stop entry orders but very seldom overnight for currencies. Usually gold futures for overnight. Are you on my alert list?
ok pattern recognition...so was there anything which invalidated the earlier break above 1.0371 during european session? Thanks for letting me know about not using stop orders for entry, I will not use them on FX if I decide to take the trade.
You posted this on Wednesday july 14th:
ReplyDeleteLong @ 1.0371 stop @ 1.0295 target 1.0454
Target one hit moving stop to 1.0484 next target @ 1.0675
on July 15th, Thursday at 11pm PST the USDCAD hit 1.0382, then it turned around and went back down to 1.0280, thus would have hit the stop.
I see u do alot of breakout trade, so I take it you do not use Stop Entry Orders with these signals? Do you take them off while you sleep, or not use them at all. Do you use Price Alerts? If so what criteria do you use to determine if the breakout is good while still getting a good price. For instance when 1.0371 broke again later in the day 7am PST it broke it and just kept going. How do you filter for false breakouts but still get a good fill? thanks for the clarification...
I don't do just breakout trades. I use strictly pattern recognition setups with a very disciplined risk management system... You must be a new follower? I do use stop entry orders but very seldom overnight for currencies. Usually gold futures for overnight. Are you on my alert list?
ReplyDeleteok pattern recognition...so was there anything which invalidated the earlier break above 1.0371 during european session? Thanks for letting me know about not using stop orders for entry, I will not use them on FX if I decide to take the trade.
ReplyDelete