Trade opportunity?
- This topic has 72 replies, 4 voices, and was last updated 7 years, 8 months ago by
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Hi,
Can someone tell me if this just happens normally. I understand what slippage is, where an order/stop loss occurs in a worse rate than originally set in the order, but today I shorted GBPUSD at 12:30, and had my stop loss at 1.51985, it then got took out on the 13:45 candle, but it only reached a high of 1.51976. Does this still count as slippage? I thought slippage was when it filled you in later instead of early? Cause it has now went on to roll into profit.
Cheers,
Lewis
Hi Lewis, it’ll be because of the bid/ask spread. The charts show the bid price, and the ask – which took out your buy stop – will be hovering just above the bid at the level being quoted at the time.
Hi,
I just tried to post a new thread and it hasnt seemed to of worked.. just checking to see if there is any problems?
Hi Lewis,
No problems that I’m aware of. I’ve just set up a new thread for you – make your post and put the thread title you want at the top of it and then I’ll amend the thread title for you.
All the best,
Richhaha i just tried to post on the new thread and its doing this same… when i hit submit, it just disappears?
**EDIT** i seem to only be able to post on my thread
That’s odd, it shows that there are 2 voices & posts but only mine is showing.
I’ll get tech support to have a look, Lewis.
You can always email over your post if you like, I’ll copy and paste it onto the thread in the meantime.
Sorry for the inconvenience!
Had a great month. majority came from shorting USDCHF, USDCAD and buying AUDUSD. 8% ROI thats taking 1% per trade. Thank you very much for the help. Still only going to trade 1% until january, then i will bring it up to 2% a trade.
Thanks 🙂
Lewis
Hi team,
I would just like to thank Rich for everything, i was lucky enough to skip all the pain that most traders go through of loosing money at the start their trading journey. This strategy is like a cheat to the markets once you get the hang of it hahaa
Anyway, I’m just curious about December, I read quite a lot that December is a slow month of the year. From your experience, (or anybody in this forum) is this the case?
Also, last week, is their any explanation to the spike that happened on the 3rd? i didnt see any news or anything with it?
Cheers 🙂
Lewis
Hi Lewis, thank you for your kind words but your success is actually all down to YOU!
It’s YOU who put the time aside to learn, and then had the discipline to find the good opportunities, and then took action by pulling the trigger on them. So credit where credit’s due 🙂
Yes, December can be a quiet (and sometimes tricky month). You get the obvious wind-down in activity in the run up to, and during, the Christmas break, and there can also be a bit of position-squaring going on by the institutions too.
The big Euro spike on the 3rd was down to news from the European Central Bank. Here’s a bit of an overview: ECB disappoints market
Thanks very much! 🙂 means a lot. I really like this style of trading. Its so simple and effective.
Anyway, Another question for you. I’m not struggling too much with holding positions, I am now really starting to trust my targets etc. One thing i sometimes have trouble with is trailing stops when there is little price action to tuck the trailing stop behind. For instance, on AUDUSD today (typing this out it has now hit my original target, but i will continue with that i was going to say). I was in a position where i was able to tuck my trailing stop behind price action at the 38.2 retracement for break even. However once it was around 3:1 ratio, i sometimes get a little uncomfortable leaving my trailing stop at break even cause i would like to lock in some profit. Would you advise against this and just let the market movement give me places trail the stop, or would you lock in some profit?
It was a nice 4:1 trade as well 🙂
Cheers,
Lewis
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