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8 Comments

  1. Mike-Reply
    April 13, 2015 at 1:24 pm

    Thanks Charlie, more good sound advice for us in this video and i am also glad to hear that you will be recording a live trading video on Thursday, thanks!

    Mike

  2. Manoj-Reply
    April 13, 2015 at 1:56 pm

    Hi Charlie,

    Having watched Friday’s video I wanted to know why you place a hedge trade – surely all that can happen
    once you have placed such a trade is that you are at break even minus the spread ? ie always having a slight loss – why not just exit your position if you are worried price is going against you and then re enter later on?
    Regards.

    • Charlie Burton-Reply
      April 13, 2015 at 2:04 pm

      That’s a good question. I put hedges in occasionally to keep me committed to a trade more than anything else or if I’m trying to be cute with a trade like that one on Friday where I could see the potential for it to rally so looked to take advantage of that and then bank the profit on the long and then allow the short to come back down, thus banking on both parts of the trade.

      But often when I hedge it’s purely to keep me committed to a trade. If I’m in a swing position which is nicely into profit but I still see potential for more upside, but in the short term price looks like it may want to fall, rather than close the position and then re-open, I like to place a hedge. It keeps me committed to that trade as sometimes when you banks your profits, you don’t get chance to get back in.

      So there’s a couple of ways in which I use them – more for mindset really…

  3. John-Reply
    April 13, 2015 at 3:56 pm

    Cheers Charlie

    Good to hear encouragement. Difficult business to get a handle on…….I love it though!

  4. Matt Barker-Reply
    April 13, 2015 at 4:33 pm

    Hi Charlie, can you talk at all about the CHF decision awhile back to remove their peg to the euro and what that decision did to several brokerages as well as retail traders? I have heard stories of people’s stops being gapped over and they ended up owing the brokerage more money than they even deposited? Is any of this true and if so, what if anything can retail traders do to keep this from happening? Thanks.

    • Charlie Burton-Reply
      April 13, 2015 at 4:37 pm

      Hi Matt, If you go back and look at my video shortly after that happened I did cover it but yes will explain again here.

      Yes stops were gapped because that’s where the market went to and it was indeed huge. The main thing retail traders can do is to not trade currencies like that which are pegged. There’s plenty of currencies to trade without trading those few that are pegged and then this would never happen anyway….

      • Matt Barker-Reply
        April 13, 2015 at 5:12 pm

        Ok thank you Charlie, I will definitely go back and look at your previous video about that.

  5. kevin keenan-Reply
    April 13, 2015 at 8:47 pm

    Hi Charlie, as the proponent of the e-mail that caused this video I just wanted to say thanks for the personal response you sent me and the update here, you are spot on when you talk about expectations, that’s exactly where it has gone wrong for me, those losses then become impossible to take when the expectations are mis-cued.

    I’m sure you’ll be glad to know I’ve reset those expectations, I think everyone needs something to refer to during the difficult times so I’ll definitely use this point as something to refer when those expectations become clouded against reality!

    All the best
    Kevin.

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