Managing your 100 pips trade on both directions (-) or (+) ::: Trading Is All About Luck!!!
The most important in trading is to know how to manage the start of your trade when … no matter you are a professional trader or a beginner if you follow this reasoning setup you will enjoy trading as you will be in control of your trades during the first 100 pips move.
The best way to trade is to open one trade at a time & never, never, never to open 2 losing trades in the same time … also to calculate your final reinforced stop lose (-100 pips) as maximum risk of 2% of your equity … for example an account of 10000$ equity you will risk in your maximum stop lose for your daily trade 200$ as final reinforced stop lose “100 pips sl with each pip 2$ in value”
Bellow, I took a random entry (00 pips) … final stop lose (-100 pips) … final take profits (+100 pips) … and I will try to explain the brain storming of a trader following the market action move during a trade “based on my personal experience as a daily trader”
No matter if you are a long term trader, or a daily trader, or a scalper, you will start from zero and pips will start to show (-) or (+) as a normal market action … yet your reaction during your trade management will show your trading personality in the market as a trader.
(- 100 pips) final stop lose, where a trader will be frustrated seeing a big lost on his account & a brave trader will close it bravely and will never allow his account to bleed more for one trade.
(- 95 pips) the trader will start questioning … what went wrong? … why the market took this direction? I wish I did close it at -50 or less! To see -95 is to let the market go under your skin and let you challenge it allowing lost to grow till lose 95 pips
(- 90 pips) it’s the level which have a bit of hope where the market might turn your way without reaching the final red zone from -90 till -100
(- 80 pips) it’s a cooler level then the above as you still have 20 pips to let your trade play, yet you will start questioning your self what’s best to do … yet your final decision will be waiting for -100 is a final reinforced stop lose … and the trade might worth risking extra 20 pips
(- 75 pips) from -75 till -80 I call it the region of no return as if I took decision to keep my trade on in most cases I will wait for -100
(- 70 pips) a level where a wise trader will cut lose here and keep in hand 30 pips for a new trade from a better entry
(- 65 pips) this level is where the market start to show you the first confirmation that your entry was so wrong
(- 60 pips) is where you see enough pips for 2 trades each one with stop lose 30 pips
(- 50 pips) a level where a wise discipline trade will never accept to pass, as -50 will be enough for him to know he was totally wrong in his trade.
(- 40 pips) a reasonable stop lose for your trade as the market might play a bit around your entry before going your way.
(- 25 pips) danger stop lose, as it will allow your broker to hunt your stop lose in a easy way going against you with market action …
(- 20 pips) stop lose of 20 pips in 80% of times you will lose them as your broker will see it as an easy hunt for your money
(- 15 pips) extreme danger for stop lose as in 90% of times market will hit your stop lose in a fast way “broker hunting your stop lose”.
(- 10 pips) it’s the first signal which show you that your lost is start to grow and it need real braveness to cut it small.
(00 pips) Your entry where you took decision to open a trade, after doing extensive chart studies … reading fundamentals … getting an idea what might the daily sentiment be for a specific currency pair which you want to trade …
(+ 10 pips) a level where you start smiling yet your worries grow as the market might make you lose them fast by going again to 00 level
(+ 15 pips) is where you start to see that you are on the right wave of the market
(+ 20 pips) a level where it’s tempting to take profits for scalpers, yet it’s better to let your profits grow instead of cutting them small … the wisest decision will be to take half of profits & put stop lose for the other half on entry level to protect your +20 pips in hand
(+ 40 pips) if you kept your trade rolling till (+40) it might be good to take profits & start studying a new trade
(+ 50 pips) a level, which make your greed alive, where your ego show you that your market study was right and that you can profit from +100 pips
(+ 60 pips) a level hard where it’s hard to close the trade on … as your greed will be more alive … your greed whispering in your ear I want more
(+ 65 pips) where you look back and say to your self I have enough time to close my trade with profit and to protect your profits you will place stop lose on +40 or +30
(+ 70 pips) its where +100 will be soon in your hand … yet too many times for example if you are trading gbpusd market might go back till zero on your trade so fast and make you close it with -30 or more … this is why I say +70 is more then good to take
(+ 75 pips) this level show only 25 pips till you profit +100 and your greed will be so alive where you will be ready to risk all profits in your trade to only get +100
(+ 80 pips) where you will be smiling big and start explaining fluently your study and how you took your decision to enter this trade … yet you will be knowing clearly it was only about luck
(+ 90 pips) on this level a discipline trader will put stop lose on +75 to protect profits, yet giving a chance for the trade to catch extra pips till reaching +100
(+ 95 pips) in most cases market will hit your +100 this is why all you can do here is to enjoy the moment and where you will be smiling the biggest smile ever, seeing your trade hitting your take profit level in + 100 or more if you end up extremely greedy
(+ 100 pips) even for a greedy trader +100 is more then enough to close your trade with +100 pips as profits added to your equity … a day with +100 pips is a very good day for a daily trader…
According to the above, it’s clear trading is all about luck and all we can do as wise traders is to manage our trade in between the market moves, with braveness, according to a discipline plan … without risking big … 95% of aggressive traders always lose in Forex each day … this is why the right choice is to be a conservative trader.
Happy trade everyone : )
-
Tony
The most important in trading is to know how to manage the start of your trade when … no matter you are a professional trader or a beginner if you follow this reasoning setup you will enjoy trading as you will be in control of your trades during the first 100 pips move.
The best way to trade is to open one trade at a time & never, never, never to open 2 losing trades in the same time … also to calculate your final reinforced stop lose (-100 pips) as maximum risk of 2% of your equity … for example an account of 10000$ equity you will risk in your maximum stop lose for your daily trade 200$ as final reinforced stop lose “100 pips sl with each pip 2$ in value”
Bellow, I took a random entry (00 pips) … final stop lose (-100 pips) … final take profits (+100 pips) … and I will try to explain the brain storming of a trader following the market action move during a trade “based on my personal experience as a daily trader”
No matter if you are a long term trader, or a daily trader, or a scalper, you will start from zero and pips will start to show (-) or (+) as a normal market action … yet your reaction during your trade management will show your trading personality in the market as a trader.
(- 100 pips) final stop lose, where a trader will be frustrated seeing a big lost on his account & a brave trader will close it bravely and will never allow his account to bleed more for one trade.
(- 95 pips) the trader will start questioning … what went wrong? … why the market took this direction? I wish I did close it at -50 or less! To see -95 is to let the market go under your skin and let you challenge it allowing lost to grow till lose 95 pips
(- 90 pips) it’s the level which have a bit of hope where the market might turn your way without reaching the final red zone from -90 till -100
(- 80 pips) it’s a cooler level then the above as you still have 20 pips to let your trade play, yet you will start questioning your self what’s best to do … yet your final decision will be waiting for -100 is a final reinforced stop lose … and the trade might worth risking extra 20 pips
(- 75 pips) from -75 till -80 I call it the region of no return as if I took decision to keep my trade on in most cases I will wait for -100
(- 70 pips) a level where a wise trader will cut lose here and keep in hand 30 pips for a new trade from a better entry
(- 65 pips) this level is where the market start to show you the first confirmation that your entry was so wrong
(- 60 pips) is where you see enough pips for 2 trades each one with stop lose 30 pips
(- 50 pips) a level where a wise discipline trade will never accept to pass, as -50 will be enough for him to know he was totally wrong in his trade.
(- 40 pips) a reasonable stop lose for your trade as the market might play a bit around your entry before going your way.
(- 25 pips) danger stop lose, as it will allow your broker to hunt your stop lose in a easy way going against you with market action …
(- 20 pips) stop lose of 20 pips in 80% of times you will lose them as your broker will see it as an easy hunt for your money
(- 15 pips) extreme danger for stop lose as in 90% of times market will hit your stop lose in a fast way “broker hunting your stop lose”.
(- 10 pips) it’s the first signal which show you that your lost is start to grow and it need real braveness to cut it small.
(00 pips) Your entry where you took decision to open a trade, after doing extensive chart studies … reading fundamentals … getting an idea what might the daily sentiment be for a specific currency pair which you want to trade …
(+ 10 pips) a level where you start smiling yet your worries grow as the market might make you lose them fast by going again to 00 level
(+ 15 pips) is where you start to see that you are on the right wave of the market
(+ 20 pips) a level where it’s tempting to take profits for scalpers, yet it’s better to let your profits grow instead of cutting them small … the wisest decision will be to take half of profits & put stop lose for the other half on entry level to protect your +20 pips in hand
(+ 40 pips) if you kept your trade rolling till (+40) it might be good to take profits & start studying a new trade
(+ 50 pips) a level, which make your greed alive, where your ego show you that your market study was right and that you can profit from +100 pips
(+ 60 pips) a level hard where it’s hard to close the trade on … as your greed will be more alive … your greed whispering in your ear I want more
(+ 65 pips) where you look back and say to your self I have enough time to close my trade with profit and to protect your profits you will place stop lose on +40 or +30
(+ 70 pips) its where +100 will be soon in your hand … yet too many times for example if you are trading gbpusd market might go back till zero on your trade so fast and make you close it with -30 or more … this is why I say +70 is more then good to take
(+ 75 pips) this level show only 25 pips till you profit +100 and your greed will be so alive where you will be ready to risk all profits in your trade to only get +100
(+ 80 pips) where you will be smiling big and start explaining fluently your study and how you took your decision to enter this trade … yet you will be knowing clearly it was only about luck
(+ 90 pips) on this level a discipline trader will put stop lose on +75 to protect profits, yet giving a chance for the trade to catch extra pips till reaching +100
(+ 95 pips) in most cases market will hit your +100 this is why all you can do here is to enjoy the moment and where you will be smiling the biggest smile ever, seeing your trade hitting your take profit level in + 100 or more if you end up extremely greedy
(+ 100 pips) even for a greedy trader +100 is more then enough to close your trade with +100 pips as profits added to your equity … a day with +100 pips is a very good day for a daily trader…
According to the above, it’s clear trading is all about luck and all we can do as wise traders is to manage our trade in between the market moves, with braveness, according to a discipline plan … without risking big … 95% of aggressive traders always lose in Forex each day … this is why the right choice is to be a conservative trader.
Happy trade everyone : )
-
Tony
Forex
