1st lot EURUSD I sold @ 1.4933, 2nd @ 1.4987
average 1.4960
Then I waited and waited... and then waited some more. Until finally after
18 (eight-teen) hours they showed me 7.5 pips ....
Had been down close to 30 pips (on average price) - so once again I've been lucky to get away.
so if you take your stop on the first lot at 1.4930 level, and shorted 2 lots at 1.4987, then take profit at 1.4960, would it be better? Or it's too risky to short 2 lot at 1.4987.
ReplyDeleteBTW, link one didn't work, link2 works.
ReplyDeleteYes, would've been better to put in a stop loss on 1st lot at 1.4950 maybe and then gone short 2 lots at 1.4987. I'd have had -20pips and 2x + 37pips, so net +54 (74-20) pips instead of just 15pips (7.5).
ReplyDeleteBig question is; would I really stick in there for that long, if 2 lots were showing me 20 pips profit for so many hours, would I wait for 37 pips.... I think I'd have been extremely tempted to close position with a net profit of 20 pips (1.4967).
Link seems to work for me?... thx
Seems like anything less than 10pips per lot could somewhat painful if you consider spreads (you might get good spreads) and commissions (i know a lot of forex brokers don't charge commission). Still, seems like quite a grind, especially when you have 30 pip swings against you.
ReplyDeleteRegarding spreads: I always give net gains. Every trade earns my fx broker 2 pips though. 1pip each way I assume.
ReplyDeleteFX: the big question is where is your stop if you shorted 2 lots at 4987, and what's your max risk in that case.
ReplyDeleteWhat happens to me very often is, when I stopped out in the first lot at 4950, I lost interest in the market and will miss the 2nd short entry at 1.4987.
As I never use stops, hard to say for me...
ReplyDeleteBut I think probably the same would happen to me as to you (i.e. missing entries)