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  #1211 (permalink)  
Old 11-04-2008, 02:06 PM
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Cheeeeeeeeeeeky

Possible little anti strategy play here for 50-75 pips with a 20 pip stop.

Not the best trade in the world but it's moved up 400 pips since we closed the short last night and there is potential for a little pullback on the 1m chart

EURUSD and USDJPY have both moved up significantly, so any little retracement on these might see this plummet quick quickly back to the 15m 20ema

Keep it tight !!
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  #1212 (permalink)  
Old 11-04-2008, 02:51 PM
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Quote:
Originally Posted by FX Pimp View Post
Possible little anti strategy play here for 50-75 pips with a 20 pip stop.

Not the best trade in the world but it's moved up 400 pips since we closed the short last night and there is potential for a little pullback on the 1m chart

EURUSD and USDJPY have both moved up significantly, so any little retracement on these might see this plummet quick quickly back to the 15m 20ema

Keep it tight !!
Well, can't get it spot on all the time.
Got to plus 30 and got greedy on the second half. LOST 25 on that, so averaged only 5 pips. ho-hum
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  #1213 (permalink)  
Old 11-04-2008, 03:39 PM
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Quote:
Originally Posted by FX Pimp View Post
Well, can't get it spot on all the time.
Got to plus 30 and got greedy on the second half. LOST 25 on that, so averaged only 5 pips. ho-hum
Hi Pimp,

thanks for the 3 x daily tips, they seem to be doing well but i do miss the tips as i dont always go onto this site a lot in the day
1 suggestion if you could would be to e mail the the guys at the times of 2pm & 8pm or whenever these afternoon and evening tips are put on site

just a suggestion as i do tend to miss them and then wonder if its too late to enter

Keep up the good work

Thanks

paul B
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  #1214 (permalink)  
Old 11-04-2008, 03:42 PM
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banking bets

Quote:
Originally Posted by Honest Bill View Post
This confusion came up again in the chat room. So, I'll post it here:

On IG if you buy Gold at 928.00 and sell at 929.11 Profit = 1.1 pips, which is very confusing.

So just multiply your usual stake by 10 and divide your usual stop loss by 10.

See here
http://www.igindex.co.uk/content/fil...g_handbook.pdf
Page 71
Hi Guys,

Love the morning sessions, realy learning a lot but there is one thing that confuses me when Dan says that we are going into a trade at some point and then says he is banking pips on the way down or up

I bet with I G Index and i do 50p per point, so if dan says we are in at 1,900 and he is looking to bank down at 1.875 and 1,850 - how do you do that or how can i do that when i have my ONE bet on at 50p per point

look forward to the reply as this has me wondering a lot

Thanks

Paul B
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  #1215 (permalink)  
Old 11-04-2008, 05:10 PM
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Quote:
Originally Posted by BUFFER View Post
Hi Guys,

Love the morning sessions, realy learning a lot but there is one thing that confuses me when Dan says that we are going into a trade at some point and then says he is banking pips on the way down or up

I bet with I G Index and i do 50p per point, so if dan says we are in at 1,900 and he is looking to bank down at 1.875 and 1,850 - how do you do that or how can i do that when i have my ONE bet on at 50p per point

look forward to the reply as this has me wondering a lot

Thanks

Paul B
Paul, you can subscribe to the thread and it emails you automatically when there is something posted.
I suggest getting msn, then you get alerted as soon as the message hits your inbox.
For me to email a few thousand people is completely out of the question I'm afraid.

Banking on the way down can only be done when you play with multiple lots or more than minimum stake.
Lets say you went short on USDCHF at 11730 at 5 pounds a pip for example, you could bank a pound a 11700, one at 11680, one at 11660, one at 11640 and the final one at 11600.

So you banked 30,50,70,90,130 or a total of 370 pips divided by 5 for an average of 74 pips.
This just reduces your exposure to the market with the last couple of quid.

I hope this helps
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  #1216 (permalink)  
Old 11-04-2008, 06:07 PM
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Quote:
Originally Posted by FX Pimp View Post
Banking on the way down can only be done when you play with multiple lots or more than minimum stake.
Not true Sir Pimp. On Ig you can close whatever amount you like. So, on the example above, Paul opens his bet at 50p. He can close this at 5p each time. Just enter 0.05 into the ticket then hit buy/sell.

Anyway, had a dreadful morning so need to keep it tight. I seem to have a habit of doing this. Start the month poorly, then build slowly, then finally push into profit in the last 2 weeks. It'd be nice to build profit all month. Discipline Bloom, Discipline.
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  #1217 (permalink)  
Old 11-04-2008, 06:28 PM
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Quote:
Originally Posted by Bloom View Post
Not true Sir Pimp. On Ig you can close whatever amount you like. So, on the example above, Paul opens his bet at 50p. He can close this at 5p each time. Just enter 0.05 into the ticket then hit buy/sell.

Anyway, had a dreadful morning so need to keep it tight. I seem to have a habit of doing this. Start the month poorly, then build slowly, then finally push into profit in the last 2 weeks. It'd be nice to build profit all month. Discipline Bloom, Discipline.
Thanks Bllom & The Pimp,

so what you are syaing bloom is that i place an orde to buy or sell at 50p per point.

if i then want to bank profits i still keep the original 50p bet and then add 0.05p bets on the way down by buying at 0.05p as a seperate bet

Thanks

Paul B
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  #1218 (permalink)  
Old 11-04-2008, 06:56 PM
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Paul,

Open your bet at 50p (£0.5). When you normally go to close this position you open a deal ticket. This will show your stake size at 0.5, you then click buy/sell which closes the whole position. You are able to edit this stake size (on IG) so you don't close all of your position. i.e. enter £0.25 to close 1/2 your position, 25p.

Cheers

Bloom
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  #1219 (permalink)  
Old 11-04-2008, 07:05 PM
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Quote:
Originally Posted by Bloom View Post
Paul,

Open your bet at 50p (£0.5). When you normally go to close this position you open a deal ticket. This will show your stake size at 0.5, you then click buy/sell which closes the whole position. You are able to edit this stake size (on IG) so you don't close all of your position. i.e. enter £0.25 to close 1/2 your position, 25p.

Cheers

Bloom
Thanks Bloom,

this has opened my eyes as i was betting 50p per point, now i will bet 0.25p per point and bank 25p per bank times

brilliant, i am happy now, this thread is brill inat and see you in the morning in the live room at 7am

GOD BLESS YOU ALL

Paul B
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  #1220 (permalink)  
Old 11-04-2008, 07:46 PM
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The minimum forex bet on IG is £0.5 so you'll still have to bet that initially. However you can close this £0.5 in whatever way you like. Say you go up 30 pips you can bank £0.25*30 and leave the other £0.25 open to aim for the next target. You do all this off the one deal ticket. Try it out on the next trade. If you're not sure, edit the closing deal ticket to £0.49 instead of the default opening stake (£0.5), then close it. Check your open positions after and you'll have a position at £0.01.

See you in the trade room. Beer and Chelsea time.
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