Have order to sell my long position on ACAD at 9888 for about 44 pip profit
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DislikedGood to hear somebody elses opinion mate. I personally don't look that much into support/resistance. I used to but found it not to be that consistent. I found that in order to make say a 50 pip profit the risk would need to be just as large. I look at where banks are likely to have some unfilled orders in the market. At times it lines up with support/resistance though. The GBPAUD trade to go long @ 1.73073, SL @ 1.72820 didn't pan out. If it comes back further though I would be looking at a buy limit @ 1.72426, SL @ 1.72070.Ignored
DislikedYou are absolutely spot on there mate about strategies working most of the time and at other times fail. That is just the name of the game and anybody that says their system is 100% fail proof is lying. It is all just a probability game at the end of the day. The holy grail of trading comes down to risk management and protection of capital for me.Ignored
DislikedHere is a screen shot to give you an idea of what I am looking at. Not very exciting. {image}Ignored
Disliked{quote} My friend, can you explain how going long @132.47 and exiting at 132.533 gives you 62 points? I must have missed something in my math class because it gives me 6.3 pips, unless that is what you were referring to.Ignored
Disliked{quote} Yes..I must have 6.3 pips or 63 points but in my history, my broker only gave me 62 points / 6.2 pips. I'm so sorry if this made you disappoint 'cause different with your math class..Ignored
Disliked{quote} Did not mean to sound sarcastic senanata, but 62 points is not the same as 6.2 points. I got thrown out by the calculation, that was all. You can feel free to post your recommendations or results specially if you have found a way to make consistent gains. You dont have to share your strategy, just your signals, even though 6 pips profit, in my humble opinion, is not a target most traders are looking for. ThanksIgnored
Disliked{quote} I'm so sorry, bud. I didn't mean something bad here. Just tell me, if I say 100 points, how many pips do you think? If I said 62 points, how many pips it is? Sorry if I was wrong. I'm just a newbie in forex. Thanks.Ignored