AUD/USD daily signal

[chris]

Got a daily signal. Took it as the prior candle was almost a pinbar. We'll see.

[kon]

I saw this signal as well. The stoploss was 1000 pips and the initial target was 500 pips.

General question, should we only take the trade if the initial target is twice the stoploss (2:1)?

[Yick]

As far as I can see the initial target on LMT is always half the number of pips of the stop loss (I would stand corrected if anybody knows otherwise)

Anyway, I also took the daily signal on AUDUSD - currently it has moved favourably (up) about half way to the initial target.

[chris]

Just put my trade to break-even.

[marc walton]

Hi Kon, just wanted to point out that you are on a 5 decimal place platform and therefore the target was 50 pips and the stop loss 100. Not sure if you realised that or not. 1000 pip stop loss now THAT would be scary, marc

[kon]

Yick/Marc,

Thank you for your replies. Actually, I didn't realize that the stop loss was 100 pips, that makes a lot more sense, I appreciate the clarification.

Kon