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tcrouch · 19-02-2006, 20:25

Ampris. Good point. I actually had to sit down and think about that. Why do I make the decisions I make. I don't use signals or trend lines so what is it that makes me choose the trades I choose and the SL/TP I choose.

The SL/TP is easy. I have learned that both points are easily movable and the more my NAV goes up, the more SL I allow myself. TP's are really easy as well. I shoot for around 10-15pips minimum and then if I'm paying attention, will move my SL up so that no matter what I always make at least that. Sometimes I will be watching a trade gain pips second after second, and I'll just use my gut to determine the right close time on that trade. More often than not, I catch it pretty close to a pivot point. ( I think thats the right term)

As far as what initiates my trades, which pair, and which direction, I usually base that alot on what it's done the previous few hours and what the news/forums are saying. I've had plenty of scares, and several times wondered myself why in the world I made the decision I did. But, I guess, all traders do that.

Anyway, I appreciate the comments and agree with them. Routlette is areat game to make guesses on, but trading in that manner seems senseless and frankly not near as exciting as seeing your educated guesses come to fruition.

19-02-2006, 20:25	#6
tcrouch level 1 Join Date: Feb 2006 Posts: 34 Downloads: 0 Uploads: 0 Rep Power: 3	Re: Am I just lucky or on to something? Ampris. Good point. I actually had to sit down and think about that. Why do I make the decisions I make. I don't use signals or trend lines so what is it that makes me choose the trades I choose and the SL/TP I choose. The SL/TP is easy. I have learned that both points are easily movable and the more my NAV goes up, the more SL I allow myself. TP's are really easy as well. I shoot for around 10-15pips minimum and then if I'm paying attention, will move my SL up so that no matter what I always make at least that. Sometimes I will be watching a trade gain pips second after second, and I'll just use my gut to determine the right close time on that trade. More often than not, I catch it pretty close to a pivot point. ( I think thats the right term) As far as what initiates my trades, which pair, and which direction, I usually base that alot on what it's done the previous few hours and what the news/forums are saying. I've had plenty of scares, and several times wondered myself why in the world I made the decision I did. But, I guess, all traders do that. Anyway, I appreciate the comments and agree with them. Routlette is areat game to make guesses on, but trading in that manner seems senseless and frankly not near as exciting as seeing your educated guesses come to fruition.