Thread: Thoughts of an aspiring trader

Hello everyone. I'll be using this as a type of plogical journal, to rant and rave, and throw out my arbitrary market talk. I have a technical blog that's free for seeing and listed in my sig, so in order to not clutter the hell from that I'm going to clutter this for fun thread, since something is constantly on my mind.

Background: began gambling in 2010, been consistent for ~6 weeks, made a new account to indie the next step in my journey.

ANYTHING you read in my blog, you are able to ask/discuss/criticize in here.

Price hit my trade zone two day , so I entered at a short-term market @ half risk on aussy. Getting ready to depart too since im not fond of volatility surroundings. That disperse aint the best.

Nothing feels better than listening to your intuition and trading principles, leaving, and find out you bailed out at the ideal spot. I recall all the times where greed took over and I ended up with no pips, and frequently times losses.

Http://www.forextraders.com/forex-mo...rade-size.html

as my Z-Score on fxbook strikes 99.99%, I am now looking into how to use this knowledge to fine tune my transactions. What really happened was I had a series of losses, instantly switched instructions and got a series of wins. Sounds like z-score probability trading for me!

When you choose the necessary warnings to maneuver your stops that feel. . then get stopped out.

What a bitter sweet feeling.

It stinks when the market goes so fast against you, your stoploss becomes an opposing market order, which you have to manually exit. Two losses for the price of one! F*cking fxcm -_-

Originally Posted by ;

it sucks when the market goes so quickly against you, your stoploss becomes a opposing market order, which you have to manually exit. Two losses for the price of one! F*cking fxcm -_-

Hi Aspiring25,

What happened with your stop? Maybe I can help.

Jason

@

I opened a sell order at market using a stoploss (blue dotted line). Later on I moved my stoploss by placing a stop loss via the summary of transactions tab (red dotted line).

Market moves up quickly, activates the red line (exited me out), the screen froze, subsequently triggered the price in which my blue line was in, activating a buy order.

Originally Posted by ;

@

Hi Aspiring,

I Started a sell order at market Using a stoploss (blue dotted line). Later on I moved my stoploss by placing a stop loss through the overview of transactions tab (red dotted line).

Market moves upward rapidly, triggers the red line (exited out me ), the screen froze, then triggered the price where my grim line was activating a buy order.

If I am understanding you correctly, you had 2 stop orders set instead of simply one. When the first stop order was triggered, it closed out your trade, however, the second order still remained. When that triggered, it resulted in a new trade in the opposite direction. The best way to avoid this issue in the future is to modify the existing order rather than developing a new one. You can achieve it by right-click on the cease order dotted line and choosing Change Entry Order as shown below.

Http://img26.imageshack.us/img26/344...order2013j.png
Note that the reason it says Change Entry Order rather than Change Stop Order is as this is a US account. US regulations do not allow Stop Orders to be connected to a specific exchange ticket, so the system uses a separate Entry Order to behave as a Stop Order. This is to comply with First-In, First-Out (FIFO) order implementation requirements.

Jason

Perhaps you would like to clarify why this has not happened before? I've been using fxcm for 2 years, and each and every time I get stopped out via the tab, all connected stop losses also get removed in the procedure. And obviously this isn't the first time I added within my stop loss this manner.

I also need to point out that if stop orders are not attached to a particular exchange ticket, everytime I manually exit a trade I'd need to manually close each stop order, which isn't the situation.