Hi willaballa,that means there was nothing wrong with your entry at 1.59 due to a break of

resistance at 1.5890...it was just a challenge of targets and exits,dats all...Like you

rightly said, 30 pips is okay for a trade,especially if you multiply it by multiple lots..2

minilots would be like 90...4 minilots like 120...
You just need to believe more in yourself and your strategy in order to have the confidence

to make successful trades...Its only a matter of time...you'll get there,as long as you

strive to be better than who you were yesterday..
As I write, the next alert is on the last segment of the chat..

P.s- Trading is not 100% perfect neither is it cast in brick and mortar...price might still

go down instead of up, so please use proper risk management.



Helloo Mauro...Howz Beunos Aires and your fellow gauchos in the pampas? You rock,amigos...
Well, if you are looking for forex resources, you can check at babypips for some

introductory stuff...Then maybe go through Technical Analysis of the Financial Markets by

John J Murphy, and the Candlestick Course by Steve Nison..That should help for a start..


[08:25:01 28/10/08] monkeymagic : morning skipper

[08:56:28 28/10/08] skipper : morning everyone

[08:59:18 28/10/08] monkeymagic : hows everyone going with their trading?

[09:00:25 28/10/08] djcarlos : HI everyone from chile, 05:00 here

[09:01:00 28/10/08] monkeymagic : djcarlos - you must be keen

[09:02:00 28/10/08] monkeymagic : its 9.00pm in New Zealand

[09:02:42 28/10/08] skipper : 8am UK - any alerts today guys?

[09:03:32 28/10/08] monkeymagic : I haven't seen any

[09:05:44 28/10/08] djcarlos : somebody wake up me when the alert is ready

[09:05:56 28/10/08] monkeymagic : lol

[09:06:00 28/10/08] djcarlos : jeje

[09:09:53 28/10/08] Stalion : helloo everyone..

[09:10:00 28/10/08] skipper : morning stal

[09:10:25 28/10/08] djcarlos : good night yet here jeje!

[09:10:44 28/10/08] klho83 : hi gm all!

[09:11:38 28/10/08] Stalion : hope you'all had a good night rest.....

[09:12:34 28/10/08] Stalion : did anyone take the EURJPY trade yesterday?

[09:13:10 28/10/08] skipper : yes - thanks

[09:13:31 28/10/08] klho83 : No

[09:14:03 28/10/08] monkeymagic : that would have been in the middle of the night for me

[09:14:19 28/10/08] Stalion : we put a buy stop on the GBPUSD @ 1.5570...1st target @

1.5618..

[09:15:56 28/10/08] Stalion : 2nd target @ 1.5668...sl @ 1.555520

[09:16:19 28/10/08] Stalion : sory, 1.5520

[09:16:50 28/10/08] skipper : OK Stal

[09:18:25 28/10/08] Stalion : [15:18:31 27/10/08] Stalion : We also put a pending buy stop

order on EURJPY @

[09:18:36 28/10/08] Stalion : 117.10,1sttarget @ 118.00, 2nd target @ 118.95...3rd target @

120.53...stop loss @116.10

[09:19:32 28/10/08] Stalion : 343 pips total was made again, on EURJPY...if your buy stop

was in place



[09:22:16 28/10/08] skipper : OK Stalion - Than you

[09:22:40 28/10/08] djcarlos : Hit first trget GU.. its ll going up???

[09:22:49 28/10/08] Stalion : 1st target hit @ 1.5618 on the gbpusd...



[09:24:15 28/10/08] klho83 : 50%

[09:26:00 28/10/08] Stalion : am sorry it went too fast

[09:26:36 28/10/08] Stalion : you can reenter if you didnt get the 1st chance

[09:27:06 28/10/08] djcarlos : its falling

[09:27:15 28/10/08] Stalion : can klho83 explain how he allocates percentages to his

minilots??

[09:28:26 28/10/08] Stalion : then reenter with a buy stop at 1.5580

[09:28:58 28/10/08] Stalion : coz price will still move up, under normal market conditions

[09:30:59 28/10/08] klho83 : 4 mini lots. 2 (50%) set at 1st target,1(25%) set at 2nd target

and last 1(25%) 3rd target with trailing

[09:41:42 28/10/08] Stalion : thanks, K

[09:42:38 28/10/08] klho83 : Add 2 minilots at the entry pts ,hit again

[09:42:44 28/10/08] Stalion : cable proceeding steadily upwards to our 2nd target

[09:44:19 28/10/08] Stalion : Eno was right...the double bottom on the EURJPY was an

accurate one...

[09:51:22 28/10/08] Stalion : did you enter our gu trade?

[09:51:51 28/10/08] skipper : yes - thanks

[09:52:28 28/10/08] skipper : & have made the entry order on EUR/JPY

[09:52:29 28/10/08] Stalion : no probs....

[09:52:35 28/10/08] Stalion : kiwi??

[09:52:46 28/10/08] skipper : looks like cable is coming down now

[09:53:26 28/10/08] skipper : but pips from 1st target in the bag!

[09:54:31 28/10/08] Stalion : after price gets to 1st target or even just +20 pips in our

favour, we then adjust our stop loss upwards to our entry level point...dat ensures we get

out with little or no loss when price retraces against our position....remember half profits

would have been taken then

[09:54:44 28/10/08] monkeymagic : I tried to make trade - but got an error

[09:55:29 28/10/08] skipper : Yes - I moved sl to entry - so not losses!

[09:57:14 28/10/08] djcarlos : GU it still going up???? because i dont get the pips of 1st

target

[09:57:14 28/10/08] skipper : OK - closed out now

[09:58:14 28/10/08] Stalion : the EURJPY call was for yesterday....skipper...price needs to

drop down to 116.83 before going back upwards...

[09:58:50 28/10/08] Stalion : did you factor that info in with our original entry order on

the EURJPY?

[10:00:46 28/10/08] skipper : Stal I have adjusted pending buy order accordingly. Thanks for

checking!

[10:01:52 28/10/08] djcarlos : waht is the new entry @ for eur???

[10:04:37 28/10/08] Stalion : it might be better to put a buy limit on the EURJPY @

116.83...OR wait for price to breach 116.83 first before placing a buy stop on it....sl

@115.85

[10:05:26 28/10/08] Stalion : or just stick with our original entry point of yesterday

[11:55:23 28/10/08] djcarlos : Klho83 I have a question, if the SL if far than 1st target,

the loose 50% it will make a lost position

[12:03:09 28/10/08] skipper : dj when 1st target is hit - move sl to breakeven for the

remaing 50% of your trade.

[12:03:25 28/10/08] skipper : That way you bag the money on first target

[12:03:43 28/10/08] skipper : then if you let the rest of your trade run, you can not go

wrong

[12:04:32 28/10/08] skipper : worst case scenario - you have profit from 1st target getting

hit - then market moves in opposite direction & your stop gets hit at zero.

[12:04:44 28/10/08] djcarlos : ahh!! ok if I hit the first target, i would have move my SL

to the hit... ok thats good

[12:05:13 28/10/08] skipper : No don't move sl to hit - move sl to entry point

[12:06:16 28/10/08] djcarlos : ok sorry... yo entry point... thanks it very good technics

[12:06:42 28/10/08] skipper : ok - it works well

[12:09:04 28/10/08] djcarlos : what do you think for the cable to Eur/Jpy.... its will be

had results??

[12:10:27 28/10/08] skipper : I only study cable - CBI results just out were better than

expected - very surprising

[12:11:19 28/10/08] skipper : although they haven't caused any movement as such

[12:17:48 28/10/08] caprica1 : morning everyone. How goes it?

[12:19:37 28/10/08] skipper : I re-entered on the cable long & got 100 pips - thanks stal!

[12:37:51 28/10/08] caprica1 : Anything for this morning so far?

[12:41:05 28/10/08] klho83 : Yes, GU hit all target!



[12:43:27 28/10/08] caprica1 : kool! Plenty of pips then?

[12:43:40 28/10/08] klho83 : Another pending order but i don't think to EJ wu come to the

price:

[12:44:01 28/10/08] djcarlos : congratulation, i had a mistake and dont win

[12:44:02 28/10/08] klho83 : EURJPY @ 116.83...OR wait for price to breach 116.83 first

before placing a buy stop on it....sl @115.85

[12:47:21 28/10/08] caprica1 : yeah it's quite long way away from the entry at the moment.

[17:41:47] Stalion : hope you made some money off our gbpusd and eurjpy call?

[17:43:22] Stalion : we put a buy stop on GBPUSD @ 1.5620...1st target @ 1.5655...2nd target

@ 1.5670