I don't understand why I seem to be once in a while losing initial on the trade, yes I understand the spread factor so lets keep that portion obsolete from my question. I have been playing technically off news on the trends 4 hour chart and 15 min chart, 1 Lot for instance short on euro today.
I entered short on euro at 1.3599 @ 16:58.
WHy I traded this:
1. 4 hour chart down (perhaps this was because it followed a previous 4 hour bullish trend, and I should have waited for a 3rd 4 hour confirmation candle to confirm the trade)
Note* I place my trades on the 15 hour chart with the listed below because the 4 hour shows me the trend
2. 5 ema crossed below 10 ema
3. ema crossed below the 20 ma on bollie (I waited to confirm this position as the 5 and 10 ema's were getting wider on the bear trend)
4. RSI pointing down below 50 line
5. Stochastics very bearish crossing 50 line
6. MACD was turning bearish
Yes some of you will recognize this from the cowabunga system which I happen to love because of the trend trade system but I think my dilemna is,
I am noticing a big loss such as anywhere from -$300 to -$1500 or so before my trade becomes to retrace not all the time but mabe 2 out of 6 trades or so maybe 3 times out of 6 trades, and eventually it goes green however this can take a long time from 1/2 a day to 2 days. Yes most of the time about 85% my trades are profitable. I would like to get in on the side of the trade where I don't initially go down -$300 to -$1500 or so I want to capture as many pips as possible.
What can I do to circumvent this? Do I play a $5 and 10 min chart on buy/sell signals where all 3 confirm while keeping that other trade open for it to come back down ( i guess you could call this a hedge technique)
Anyways I am at a loss and getting frustrated feeling like I am leaving so much on the table and having to wait a long time for my trade to start to become profitable.
Is this normal?
Again keep in mind like I said my trades I am great I am at 23 losses and 140 winning trades so to me I am ok but I feel like I am still missing something here.
Yes this is a demo acct.
I entered short on euro at 1.3599 @ 16:58.
WHy I traded this:
1. 4 hour chart down (perhaps this was because it followed a previous 4 hour bullish trend, and I should have waited for a 3rd 4 hour confirmation candle to confirm the trade)
Note* I place my trades on the 15 hour chart with the listed below because the 4 hour shows me the trend
2. 5 ema crossed below 10 ema
3. ema crossed below the 20 ma on bollie (I waited to confirm this position as the 5 and 10 ema's were getting wider on the bear trend)
4. RSI pointing down below 50 line
5. Stochastics very bearish crossing 50 line
6. MACD was turning bearish
Yes some of you will recognize this from the cowabunga system which I happen to love because of the trend trade system but I think my dilemna is,
I am noticing a big loss such as anywhere from -$300 to -$1500 or so before my trade becomes to retrace not all the time but mabe 2 out of 6 trades or so maybe 3 times out of 6 trades, and eventually it goes green however this can take a long time from 1/2 a day to 2 days. Yes most of the time about 85% my trades are profitable. I would like to get in on the side of the trade where I don't initially go down -$300 to -$1500 or so I want to capture as many pips as possible.
What can I do to circumvent this? Do I play a $5 and 10 min chart on buy/sell signals where all 3 confirm while keeping that other trade open for it to come back down ( i guess you could call this a hedge technique)
Anyways I am at a loss and getting frustrated feeling like I am leaving so much on the table and having to wait a long time for my trade to start to become profitable.
Is this normal?
Again keep in mind like I said my trades I am great I am at 23 losses and 140 winning trades so to me I am ok but I feel like I am still missing something here.
Yes this is a demo acct.
Know when to hold em, Know when to fold em!