School of Pimpology - page 122

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FX Pimp:

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.

 
Bloom:
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

 
 
 
 
 
 
 

Thanks Bloom

Saw your post and I even rang up IG but they said 'you can't do that i.e you have to close the entire 50p' hmmmmm....looks like you know even more than them. Thanks for that, gonna try it out - You're The Man!!!

 
FX Pimp:
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

Pimp,

what would i do without you, man you are the best

set up notifications on hotmail and even set up hotmail on my blackberry and buy i can now get instant e mails of when a post is put on this site

Now i wont miss a thing, next step, make some money and take trades on these tips from the MASTER

thanks

Paul B

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