Forum >> Reopen after breakeven

Sorry I forgot to answer the last question. If you are a new subscriber and check out the Latest Signals and find open signals at or near entry level (that is, less then a 50 pips distance in the anticipated direction) then you may trade them. If the distance is negative, then you can trade them, so you'll have better entry points.

The only reason why you should pass a signal is if it violates the money management rules. But whenever this happens, it also indicates that you should scale back the size of your positions, to be able to trade each and every signal in the future. Being selective in regard of trading or passing signals does not necessarily means cherrypicking. For example, if you get a sell signal for all JPY pairs in the same time and you pass CHFJPY because you simply don't like it, or you had bad luck with this pair in the past, or you have your own system and it does not confirm this signal, then you're cherrypicking. On the other hand, if you already have 5 positions open for CHFJPY and only one for AUDJPY, and your money management rules would not allow to trade all JPY signals, then you may prefer AUDJPY instead of CHFJPY. This would not be cherrypicking, rather prudent diversification.  Consequently, you ought to trade all signals. If you can't, you should trade at least all currency pairs, and scale back the size of your positions. You should always assume that you will get at least 5 signals for every pair in a row. This will not happen of course, but this way you will never be overstretched and there will be no need to pass any signal due to money management restraints.

 Hi Ovidius,

Checkout:

http://www.sureforexsignals.com/forum/topic/53

Might answer some of your questions.

murat

In the FAQ section, there is a question about trading your own signals; there you state that you may not buy if there are new signals for an one position if it violates your money management, or you might cherry pick the best.  Yet, in emails and I assume other places on the website you state to not cherry pick and to buy all the signals. 

I need more clarification here, especially when some currency pairs get several signals in short period, it would seem one would reach their threshold money management long before the times when there might be 4-6 open signals for the same pair.  So, it would seem a time would come when one would not buy the new signals for an already open pair, is this correct.  Since no one can anticipate how many signals might come for open pairs, it is hard to decide how much to buy to get to a full lot before an end of generated signals for that pair.  So, when it is mentioned to buy all the signals that would be more directed to buy all the different pairs rather than buy all the signals regardless of one's open trades for that pair?

So, is buying all the different pairs more important that buying repeated pair signals if money management rules are at risk?

I also would like to know if for new subscribers to go back a few days prior to becoming a subscriber and open those trade signal that are near to the signal price, or wait for new signals?  thanks

Thanks.

Hi

I let the open Positions with the initial SL till the Closing Signal comes in...

by the way: Silvertrader, good SL placement on GBPCHF

Yes, new position is always being opened only if there is a new signal.

 Yesterday some of my positions (NZDUSD and AUDUSD) were closed at breakeven, but NZDUSD turned to the right direction again. What is the correct way to procceed now? Should I wait for a new signal to re-enter?