I believe monday/tuesday will be a bullish day for EURUSD, I will wait for a pullback to the 1.3335 area and get in long. The areas which I've highlighted red I believe is where it'll bounce from, either of them.
No trades today, price bounced from the highest red area on the chart, being a bank holiday in the US and me not trading on bank holidays due to their often unpredictable moves, I cancelled my buy order at market open, I should of left it...
What is the underlying premise for taking trades when you do?
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I completely forgot to put that in my original post, I've just updated it.
I trade a couple of strategys combined, mainly supply & demand but I prefer to call those areas 'areas of interest' or 'potential reversal areas' and daily pivots along with weekly and monthly pivots.
I completely forgot to put that in my original post, I've just updated it.
I trade a couple of strategys combined, mainly supply & demand but I prefer to call those areas 'areas of interest' or 'potential reversal areas' and daily pivots along with weekly and monthly pivots.
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I thought that might have been the case. Supply and demand is all I ever use anymore, because it's the only thing that's ever made sense to me. Are you keeping your risk to a certain % of your account? It's difficult to tell because the number of lots are hidden. Very impressive but not surprising returns if in fact you are keeping risk controlled.
I currently risk between 5 and 8% of my account per trade, while this may seem high, its what I'm comfortable doing even more so with me being anal about my entrys, I try to be as accurate as I can so I can lower the risk even more, that 13% loss was when the price literally shot through my stop and closed out for more. I'm currently trading no more than 0.5 lot per trade but depending on the stop size and R;R (which is always a minimum of 1;1), the lot size will change all the time, the smaller my stop normally the bigger the lot size I'll trade and vice versa, I've no doubt though once the account grows, I'll lower the risk % even more.
You're right about supply & demand, 95% of my entrys are based off that alone.
Keep up the good work, I'll be keeping an eye on your explorer from time to time.
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Cheers, hoping for a good week this week and get the account growing by a good % again, got a few areas I'm watching on a couple of pairs, lets see how it pans out.
Buy order pending on EURJPY at 125.097, I believe it'll bounce up from here to the 125.75 area, to that end my profit target is set at 125.69 just under the area highlighted red in the bottom chart which I think it'll either break through or bounce back down. My bias on this pair is currently bullish.
Buy order pending on EURJPY at 125.097, I believe it'll bounce up from here to the 125.75 area, to that end my profit target is set at 125.69 just under the area highlighted red in the bottom chart which I think it'll either break through or bounce back down. My bias on this pair is currently bullish.
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Given that spike down, the trade turned into more of a quick scalp from the area I expected a bounce from, closed for +11
Good job I closed it, it looks like its gonna fall.
Two trades today, one loser one winner, the EURJPY trade I made was stupid, I put a sell order there expecting it to drop down, however, it hit my order and immediately went back up, I won't be making that mistake again. Back to around break even for the day.
