SFX Divergent Daily Advice

[SoundFX]

You've got metaphorical balls of steel SUE!!!

Rharris you did mean selling the USD/CHF right? I assume that's what you meant when you said "buying" the CHF.

Would'n't be shocked to see this one rise further. I never expect profitable trades immediately. Nice when it happens though. Conservatively one might put in a BUY limit at 2350 to lock in some pips. Definitely a wise move to take half off the table at that level. I'm going to bed seeing what the US session holds. Back around 8AM eastern.

Nighty-Night.

-SFX

[hoene003]

Nice thread SoundFx. So you never use stops like to average but what is your position relative to you account in other words tell us something about your moneymanegment if you would like to share that.

[SoundFX]

Just sold another CHF at 2424.

[SoundFX]

Hoene

Typically my money management is to trade as small as possible for my account initially only add positions when the opportunity looks ripe. Surely this sounds vague perhaps it is to an extent as I can't point to a percentage risk or a specific pip/day risk or any sort of risk/reward ratio that isn't dynamic. I have to let the market breathe. In trending the market usually seems to display characterisitics of intraday jolts coupled with broadening periods to rest for the next jolt. At least that's what it looks like on the five minute charts while on the daily it may be a 45-degree climb with no respite.

Sheesh now I'm babbling. I suppose my MM is sort of built in to the way I trade without me having a much more eloquent way to express it than "trade small small small". :-)

[SoundFX]

Currently:

Short USD/JPY 116.29
Short USD/CHF at an average rate of 2416

[rharris60]

Oops - meant to say "selling" which is what I did. Took 14 pips off the table exited at 2396 - had to go to dinner wanted to take some quick profits. Looking to re-enter here (2427) for another short.

[SoundFX]

It happens.

Bought 1 GBP at 8868 just now.

[SoundFX]

Gotta run get my license tag renewed head off to work. Back in a few hours. Have fun in the trenches everyone.

-SFX