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Betatrader - Swing Trading System
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To those who did not receive USDSGD trade but would like to receive it and some other trades on exotic pairs in the future:
right-click on market watch --> show all
If you would like to open the trade right now, then go to Signal settings --> Advanced settings --> Max Slippage in Pips: set it to some two-digit number (e.g. 50-100), the trade would then be opened. Don't forget to set max slippage in pips back to 3-5 pips after opening the trade. In my opinion, you can do that in case the trade is currently a losing one (as it is right now).Last edited by AntX; 02-18-2016, 01:00 PM.
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Originally posted by AntX View PostTo those who did not receive USDSGD trade but would like to receive it and some other trades on exotic pairs in the future:
right-click on market watch --> show all
If you would like to open the trade right now, then go to Signal settings --> Advanced settings --> Max Slippage in Pips: set it to some two-digit number (e.g. 50-100), the trade would then be opened. Don't forget to set max slippage in pips back to 3-5 pips after opening the trade. In my opinion, you can do that in case the trade is currently a losing one (as it is right now).
Sent from my MotoG3 using Tapatalk
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Hi everybody,
I hope everybody is doing well. Since I have few questions, I will reply all of them.
Originally posted by Porter View PostHello Beta, nice signal. Your trading look very solid.
I have a question regarding the risk of keeping overnight positions, especially since what happened to the Swiss franc. How can you avoid this kind of risk?
The first one is the very high volatility Market events like the SNB Euro unplug in 2015 January. The fact that a position is kept overnight is not really correlated with that. This event occured during the day and the Price fall down heavily in few minutes. This was historical. How to mitigate this kind of risk ?
I set systematically, in every conditions, a StopLoss for every single trade I take. This is not possible that I don't put SL on a trade. If you read some previous posts, you'll see I think that not using SL is suicidal on the Forex Market. And my opinion is that trading someone else money without SL is irresponsible (I will not make a lot of friends here :-]).
Now you can say that even if I set a SL, maybe it will not be honoured by my broker (or yours). That's true. But this risk is the same for every trader. So what I only can do is to mitigate this risk. And as I use a swing trading system, the likelyhood my SL is honoured by my broker is higher than all scalpers and intraday traders. Why ? Because my Stoplosses are placed dynamically depending on the entry and it's often (in fact, almost always) on strong and powerful swing points relating to major Daily/Weekly S/R levels. Where the big order clusters are located. Where the majority of buy/sell orders are located.
Concerning the second point : the risk of keeping overnight positions. Again, you're right, there is a risk, but only during the week-end. Saying there is no risk is lying. Sometimes the Market can print big gaps over the week-end. The risk is there and the gap can play against us. However it never happened (it doesn't mean it will never...). Unfortunately, as said before, the risk is the same for every trader. To reply to Okda : not really. And again, there is less risk with a swing trading system like that than an intraday system keeping positions overnight and over week-end (you can see that's the case for the official team "traders" of this website right now). And I don't even speak about SL, over-exposure, hedging, ...
I don't want to glorify the swing trading systems but they have some interesting properties about the risk.
Originally posted by FXLION1 View PostHey Beta,
Just joined your signal. Really enjoy your perspective on the markets and trading it as it is very similar to mine.
Looking forward to many gains with you!
My 2 current open trades can be losers. But for me it doesn't matter because there will be more winners than losers during the year.
Originally posted by Porter View PostFor example, trading only pairs that are not subject to central bank manipulation like Swiss franc. which exchange rate was defined by the Swiss central bank.
Although I suppose that risk, as you say, can never be mitigated at 100%.
Have a nice day
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Originally posted by Betatrader View Post
... Nothing really exciting here :-) Just making money in a safe way over the long run.
I was beginning to wonder if swing traders have just about vanished in the midst of scalpers and ea's. Or they just went away to go enjoy the profits they've made over the years of being patient with higher time framed charts, lol.
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May I ask when do you move the sl to breakeven?
I am asking to learn not to argue cause Eurgbp was more than 75% into profit and it went back to sl, thought that moving that much into the green would trigger the decision to move sl to BE
Thanks in advance
Sent from my Nexus 6 using Tapatalk
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Originally posted by Okda View PostMay I ask when do you move the sl to breakeven?
I am asking to learn not to argue cause Eurgbp was more than 75% into profit and it went back to sl, thought that moving that much into the green would trigger the decision to move sl to BE
Thanks in advance
Sent from my Nexus 6 using Tapatalk
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