home
blogbt
education
home
education
contact-us


Hey, welcome to Forex4Noobs.com!

It looks like you are viewing our boards as a guest which gives you limited access to view threads. So what are you waiting for? Hit the register button now and sign-up to the forum registration is fast, simple, and absolutely free!

Why register? At Forex4Noobs we are serious about trading. You won’t find traders here trading 100 different methods whingeing and moaning about trades they lost. Most people here are trading the same or similar methods, we discuss trades we win, and there are a lot of winners.

Stick around, you won’t be sorry!


Go Back   Forex Education Forums > Forex Stuff > Open Trades
Register Rules Members Arcade Free Signals Chat Room Mark Forums Read

Open Trades In this forum you can discuss any soon to be or currently open trades.

Reply
 
LinkBack Thread Tools Display Modes
  #1 (permalink)  
Old 05-17-2008, 08:33 PM
LearningToPimpPips LearningToPimpPips is offline
PipPrivate
 

Join Date: May 2008
Location: Ellicott City, MD
Posts: 57
LearningToPimpPips is on a distinguished road
How do you account for the spread when S/R lines are broken

I'm sure this question has been asked before; however, I searched the forum and couldn't find a thread dedicated to the topic. It may be embedded in some of the daily journal threads, but there are so many pages in those to accurately find the question.

GBP/JPY typically has a 7 point spread. Usually, the Bid line is shown and the price quoted. So in a long S/R situation, do you Buy when the bid crosses the S/R, or when the Ask crosses the S/R? Thats a 7 pip difference and could result on entry of some fake outs.

OK...If I assume its when the Bid crosses the S/R, that mean (hypothetically, lets take the 207.00 S/R), If I buy when the bid crosses, I enter and the Ask is 207.07. Do I set my First Half exit at 207.7, so then my first half really makes 63 pips? Or do I enter long when the Ask crosses the line.

I understand the trade has intuition, and there is no set rule as price action rules...but just curious how the spreads are accounted for...particulary on a cross currency pair that has a higher spread compared to the big 6.

FYI...working on writing my introduction, and trading plan to start a trade journal. ONe of the keys to success is to put on paper your goals instead of mentally thinking about them. Also, the more public you make them, the better you are in terms of personal accountability. I hope to promote what will be an entertaining exercise as I plan to attempt to highlight 2 different trading methods to understand my personality.
Reply With Quote

Welcome!
To see more of this thread, please login or register.

Registration is quick and easy!
Reply


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT. The time now is 01:57 AM.


Powered by vBulletin® Version 3.6.8
Copyright ©2000 - 2009, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.0.0
Copyright ©2008, Forex 4 Noobs