mblack246

I haven't seen or heard of ghost orders being available on retail platforms, but it's available on our institutional trading platform where I work and we use it here and there. It completely hides an order and will only trade if the market goes bid or offered at the price you want to sell or buy respectively. E.g. market is 6/8 and I want to buy 7's without showing my bid, i enter a ghost order to pay 7 on 100 lots, market is still 6/8, someone offers 50 @ 7 and i immediately buy them, market instantly returns to 6/8. Useful in some situations, sometimes a trader might not want to display their order in a market and keep their trading on the down-low. If you are the best/bid offer sometimes switching from a limit to a ghost will cause algos to go bid or offered at your level and you can immediately pick up some contracts that you wouldn't otherwise. Market-makers seem to use them quite a lot particularly on options, so the screen price might be 5/9 but the true price may be 6/8 via ghost orders. Hope that helped.

Thales, I tried messaging you but it seems you have disallowed it. I'm hoping a post might tease you out. This was my Eur/Usd chart going into today. Red and green lines are major support and resistance, grey areas are intraday levels. This was the setup and target on first half. This includes the 3rd quarter target and my new stop. I don't have a final target as I would like to give it some room, I feel a move through 1.0800 is possible over the next few days and I'd like to give that a chance...

Haha Cory, i'm in a pretty similar situation. I'm on a degree course with a 1-year industry placement - all my friends from uni are currently living in the city and working, all my friends from home have either graduated or are graduating this year. I didn't fancy a placement so I blagged a year out and am trading to see if I can get some semblance of consistency before I actually graduate. I can definitely relate to the 'bum' thing and basically all the negative connotations which come when you tell people you're trading and that is effectively your job. It's at the stage now where unless I like the person/think they're intelligent enough to understand I won't even bother telling them I'm trading, I just say I'm working for my parents or something... The way I look at it, hopefully in 5 years time I'll be relaxing on a beach somewhere, pulling in my 5R a week and laughing at all those who thing I'm bumming around this year! Good luck!

I don't really see it, any chance of getting a chart up with your thoughts?

Well the '+ a few pips' kept me in before price made new highs, then I moved my stop up too tight as it offered another low temptingly close to my entry point. Needless to say I got stopped out to the tick before price went on to higher highs again. -1pip or 0.03R :crap:

Dropping down to m1 to show what I'm thinking with this one at the moment. Price has now made 2 unsuccessful attempts at breaking through 5607, so I've moved my stop up to the last swing low (+ a few pips), the dotted red line on my chart.

G/U possible reversal setup in previous bed of support.

Cory i took this trade too and was tempted to set PT1 at a similar level to yours but it was worse than 1:1 RR including spread. What are your thoughts on risking more than you stand to gain? The more i trade with this style the more inclined I am to shoot for more 'realistic' targets even if they aren't at a favourable RR. The reason being that full losses (i.e. -1R losses) should be fairly rare, and that most losses will be much smaller than this. Therefore although a full 'R' is being risked, the expectation over a long period, in the case of a loss, is -0.4R or something similar. Thales I know you only take a trade if the RR is <=1, do you have any thoughts on the above? Edit: Luckily your pt1 was my 'move stop to BE' level, so i avoided a loss!

Pulled the ripchord on this one for -0.3R.

Short GU following failure to break higher (LH/double top).

This has been going sideways for 3 hours, i'm gonna pull the order in 15m.

Potential EJ long, I've marked up the highs and lows as I see them on two different 'degrees'.

Ending diagonal on EJ?

I was in exactly the same trade as you Cory, and got stopped out in exactly the same place!

Hi Thales, Just wondering what you would think of an entry here. Price made a L-LH-LL-LH over an extended period of time. It then made several attempts at breaking the latest LH, failed, and quickly fell away. Thanks, mb