Tuesday, July 29, 2008

This is how I suppose to trade

Add on profitable position when it proves correct in the direction of the market. I would hold for fast break down through 900 level, with hesitation I'm out. +15 pips


3 comments:

ORION MACHINE said...

sounds good to me! that is something that is really hard for me to do though... add to winners, but it would be way more profitable I suppose!

FX said...

I watched your casino system video. I think that you should have some rules for exits because without them it's again discretionary system. Maybe it's ok for you just to have system rules for entry and not for exit.
Also it's open for big volatility because of news 30min after start of the system. I don't think that it's good idea to be in the market with news pending.

btw. your myspace blog can't be seen now without myspace account now.

ORION MACHINE said...

Yeah about that... Its a long story, but basically I am beginning to be more selective about who views my material. Not because its a secret or anything, but too many people are in my terms "unqualified" to see it.... The only page that is private is the table of contents, so dont worry, when ever I send out a new blog I will just give you the link Via E-mail.

As far as exits go, i personally may only be looking to continue fulfilling my 10 pip a day goal with it. You really just have to use discretion and technicals to make your own calls... As far as I'm concerned as long as it keeps you on the right side of the trade the rest is up to the trader. Each person will have to make their own decisions about exits.