[thalestrader]

Originally Posted by MidKnight »

So....BE on other 1/2?

Should have been at breakeven once the first profit target was hit (if not before).

Originally Posted by thalestrader »

Long entry at 132.10, take a profit at 132.33, and move stop to break even on the second half.

Closing in on second profit target at 132.65. Stop loss is now at 132.33, the first profit target.

I do not have an order at 132.65. If price prints 132.65 or higher, I will bring the stop up to 132.50 or so, and wait to see if this doesn't break out for a run to the upside.

Best Wishes,

Thales

[thalestrader]

Originally Posted by thalestrader »

Closing in on second profit target at 132.65 ... I do not have an order at 132.65. If price prints 132.65 or higher, I will bring the stop up to 132.50 or so, and wait to see if this doesn't break out for a run to the upside.

We have a 132.66 print, so I am going to bring the stop up to 132.54. So +23 on 1/2, and +44 worst case on second half.

Best Wishes,

Thales

[thalestrader]

Originally Posted by thalestrader »

We have a 132.66 print, so I am going to bring the stop up to 132.54. So +23 on 1/2, and +44 worst case on second half.

Lots of resistance to fight through, but if it does, the green lines are a sort of Ladder for price to climb. If price gets above one, I'd look for the rally to continue to the next higher level.

Best Wishes,

Thales

[Gabe2004]

Hello Thales

What was the spread on your platform for the EJ at the time you entered the trade?

Thanks

Gabe

[thalestrader]

Originally Posted by HAL9000 »

My question is, how do you scale in (2$ up to 10$)?

Hi Hal,

Great to hear from you! I hope all is well with you and your family.

Basically what we'll do is this: Suppose we enter long 20K (2 mini lots or 20 micro lots or .20 standard lot) on a breakout, and the move quickly moves 20 ticks or more in our favor, and then consolidates in a small range, perhaps 2-5 ticks at the extreme of the breakout. We will put our stop loss at say +10 ticks, and we will place a buy stop to add another 20k if a new BO high is made. We then continue to add after small consolidations. With the first add, we will have our stop so that the trade does no worse than whatever the initial risk was on the first lot, but more likely we will be in a BE situation. On subsequent adds, we will be adding in such a way as to insure an overall profitable result even if we take a loss on the last entered position.

Best Wishes,

Thales

[thalestrader]

Originally Posted by thalestrader »

We have a 132.66 print, so I am going to bring the stop up to 132.54. So +23 on 1/2, and +44 worst case on second half.

Best Wishes,

Thales

I'm flat at 132.54

Time to watch the Phillies!

Best Wishes,

Thales

[thalestrader]

Originally Posted by Gabe2004 »

Hello Thales

What was the spread on your platform for the EJ at the time you entered the trade?

Thanks

Gabe

It was probably 1.2, which is the average for FXCM. It has been as low as .6 tonight, and as wide as 2.9. Right now it is .8.

Best Wishes,

Thales

[Gabe2004]

Originally Posted by thalestrader »

It was probably 1.2, which is the average for FXCM. It has been as low as .6 tonight, and as wide as 2.9. Right now it is .8.

Best Wishes,

Thales

This is amazing.

Oanda up until a few minutes ago had a spread of 10 pips and now it is 3.5.
With spreads like that I can never do what you do on a 1 min time frame.
I will have to think of switching to a different broker.

Gabe