Nice trading week of all of you, especially C-12...well done!
I've also had a great week, 10 winners in a row, since im working I can only trade by setting my POs and they all hit the target this week... most of the time I couldve let it run a bit longer, but sometimes the TP worked out to the pip!
Such as AUS/USD today, I didnt expect such a large move down after the previous strong uptrend since Wednesday... thus i played a PO buy at 1.0424 this afternoon and got out to the pip at 1.0437, after that price just went down fast...
Generally speaking, do you guys think by just trading POs it will work out most of the time? (H1, H4 timeframe) ... with like a TP between 15-50 Pips, depending on the set up...
Im trying to get the bigger picture of D1 first to see whats the trend and if we are in a correction right now. This would be the perfect setup, because then i could check for possible entry levels to join the train.
My biggest problem is to decide how far I can set my TP. I like to take the safe 10-15 pips and just get out of the trade... but on the other side, if its the end of a correction and I could join the train and there is no big supply/demand zone in the big picture which could stop me out, i COULD let it run. but i think its hard to do that.
just as C-12 said... if this would be your income, how would your handle your TP?
Im excited of your answers, since SL is not really that big of a matter if one has found a accurate set up, it will work out, but it will not say, for how many pips
I've also had a great week, 10 winners in a row, since im working I can only trade by setting my POs and they all hit the target this week... most of the time I couldve let it run a bit longer, but sometimes the TP worked out to the pip!
Such as AUS/USD today, I didnt expect such a large move down after the previous strong uptrend since Wednesday... thus i played a PO buy at 1.0424 this afternoon and got out to the pip at 1.0437, after that price just went down fast...
Generally speaking, do you guys think by just trading POs it will work out most of the time? (H1, H4 timeframe) ... with like a TP between 15-50 Pips, depending on the set up...
Im trying to get the bigger picture of D1 first to see whats the trend and if we are in a correction right now. This would be the perfect setup, because then i could check for possible entry levels to join the train.
My biggest problem is to decide how far I can set my TP. I like to take the safe 10-15 pips and just get out of the trade... but on the other side, if its the end of a correction and I could join the train and there is no big supply/demand zone in the big picture which could stop me out, i COULD let it run. but i think its hard to do that.
just as C-12 said... if this would be your income, how would your handle your TP?
Im excited of your answers, since SL is not really that big of a matter if one has found a accurate set up, it will work out, but it will not say, for how many pips