Hi,
I should be an intermediate trader, for sure not a pro, until I have this question:
Sometimes "I see" the trend should take a pause, a bit retracement should be and for that reason too I would do to counter trend. if the uptrend slowly climb up, than the little reversals are faster, which meets my cigare pause at work and so on. For other reason too sometimes I am betting counter trend. Usually I am using TP ans in most cases SL or I watch the trade. Oanda doesn't let me to hedge the position, forgot Ducascopy behaviour ( there I have the live account) but Oanda has the infinite demo account and the trade explorer, for that reason I would use a "system" wich is compatible with Oanda: FIFO and no hedge. It can be used in a different account, but I don't want to sread attention to 2 account, sometimes I have no time to watch the trades on 1 account.
Let be the case when I am wrong with a Short trade, and the price goes up ( as it did with EU) than I can see at some level, even with 100 pip toward the steam from trend is gone and I will put another short. Now if the price will fall 52 PIP, than I am at BE : 100 PIP+2xSpread, but if I increase the second trade size, than I am profitable even at 20 pip maybe. If to much is the leverage and I am wrong again, than it had a real chance to wipe the another xxth account.
But sometimes it can be profitable, from my trade explorer:
as you can see the last trade has a big profit, bigger than previous 2 from him. That was the correction of the correction
How should I proceed here? just close the trade in lose? or never bet counter trend?
I should be an intermediate trader, for sure not a pro, until I have this question:
Sometimes "I see" the trend should take a pause, a bit retracement should be and for that reason too I would do to counter trend. if the uptrend slowly climb up, than the little reversals are faster, which meets my cigare pause at work and so on. For other reason too sometimes I am betting counter trend. Usually I am using TP ans in most cases SL or I watch the trade. Oanda doesn't let me to hedge the position, forgot Ducascopy behaviour ( there I have the live account) but Oanda has the infinite demo account and the trade explorer, for that reason I would use a "system" wich is compatible with Oanda: FIFO and no hedge. It can be used in a different account, but I don't want to sread attention to 2 account, sometimes I have no time to watch the trades on 1 account.
Let be the case when I am wrong with a Short trade, and the price goes up ( as it did with EU) than I can see at some level, even with 100 pip toward the steam from trend is gone and I will put another short. Now if the price will fall 52 PIP, than I am at BE : 100 PIP+2xSpread, but if I increase the second trade size, than I am profitable even at 20 pip maybe. If to much is the leverage and I am wrong again, than it had a real chance to wipe the another xxth account.
But sometimes it can be profitable, from my trade explorer:
as you can see the last trade has a big profit, bigger than previous 2 from him. That was the correction of the correction
How should I proceed here? just close the trade in lose? or never bet counter trend?
I want to buy PATIENCE