Got in 2 more scalps. No more for today. +4% today.
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Disliked{quote} once it happened to me... I had good short entry that day... some news.... price fell down... after some fall, the price all the way went up and hit my stop. Had to exit with loss that day. So today, I was cautious to set trailing stop at 2503. And out with 24 pips... i think. There is always another day.. instead of making loss, came out with profit. Thereafter lots of short scalps and made money.Ignored
DislikedI did state earlier that as far as 1.2250 level holds, 1.2470 is imminent and possibility of 1.2520/1.2590 cannot be ruled out before some correction. This week range so far is 240 pips, which means minimum weekly range is already completed... Average/probable weekly range Being 340 pips... 1.2250 (weekly low) + 340 pips = 1.2590 Most repeated weekly range Being 270 pips... 1.2250 (weekly low) + 270 pips = 1.2520 Which means weekly possible high to be 1.2520/1.2590 Weekly current low is 1.2250 In summary 70% risk is already completed at 1.2490,...Ignored
Disliked{quote} once it happened to me... I had good short entry that day... some news.... price fell down... after some fall, the price all the way went up and hit my stop. Had to exit with loss that day. So today, I was cautious to set trailing stop at 2503. And out with 24 pips... i think. There is always another day.. instead of making loss, came out with profit. Thereafter lots of short scalps and made money.Ignored
Disliked{quote} Do you just use a standard trailing stop or do you do it manually? If automatic stop, what step count do you use? If manual, how do you decide how much to trail it by? Just curious as I've played around with trailing stops before and never found much success with them.Ignored
Disliked{quote} Hold sell positions from 1.2520... Do not close until at least 1.2350... Wait for more directiveIgnored
Disliked{quote} I might start doing this, removing TP altogether and just moving stop loss at each pullback.Ignored
Disliked{quote} i am forever debating trails or targets. Moving the SL to each Pullback is a great way to trail. What I like about targets is that it gives a feeling of accomplishment. Even if price goes further, I got out where I wanted. With trails i often feel bad cause you see what you could have gotten at the low or high. Either way has its pros and cons. Whatever makes you feel good about the end result is what you should do.Ignored
Disliked{quote} i am forever debating trails or targets. Moving the SL to each Pullback is a great way to trail. What I like about targets is that it gives a feeling of accomplishment. Even if price goes further, I got out where I wanted. With trails i often feel bad cause you see what you could have gotten at the low or high. Either way has its pros and cons. Whatever makes you feel good about the end result is what you should do.Ignored
Disliked{quote} I can see how it may be a difficult decision for you, however my main problem is taking profits too early. I rarely let it run to my TP even if I'm confident price is going to reach there, I just see green pips and take them! I feel like trailing like this could help me however to traders with a lot more discipline having a TP may be more effective.Ignored
Disliked{quote} With time you will learn the art of trailing and banking the profits. TWIgnored
Disliked{quote} i am forever debating trails or targets. Moving the SL to each Pullback is a great way to trail. What I like about targets is that it gives a feeling of accomplishment. Even if price goes further, I got out where I wanted. With trails i often feel bad cause you see what you could have gotten at the low or high. Either way has its pros and cons. Whatever makes you feel good about the end result is what you should do.Ignored
Disliked{quote} Thank you I hope so, I'm only 5 months into forex however I've managed to get myself out of the -40% hole I put myself in within 2 months. Only down 7% now and have been making around 10% a month for the last 3 months.Ignored
DislikedI can see when a trade is starting turn and take the pips. The question is: If you are using Stop loss (most of us do). Then if you take the pips. How do you calculate your risk to reward? By the way I hope to go long soon.Ignored
Disliked{quote} I guess it depends on trading style, however my profit factor is a lot lower then I want it to be. Even in my profitable months my profit factor is less than 1, just my win rate is 60-70%. I'd prefer a profit factor of around 1.5-2 but I keep taking profits too early! I also hope to go long at the confluence of daily pivot and 15m 200EMA/1h 50 EMA but will wait to see price action around this point.Ignored