You will learn the most from your losing Trades
DislikedEurusd… Price has past central pivot. Price below emas. Shooting star on last 2 candles. 34 ema slanted down. 1st target Wm3 {image}Ignored
DislikedMy stop is usually 70 pips. On that trade I would of closed out if we passed last high in red box Supply. That would show me that market wants to resume bullish momentumIgnored
Disliked{quote} So your stop is bigger then your take profit ? also you have 2 take profit how do you manage it ? Thank You. Best regardsIgnored
Disliked{quote} Every trade will be different in terms of stops. Sometimes stops will be less than 70 pips if momentum looks really bullish, I don't chance it. Why lose 70 pips and let price continue going up if I can cut my losses at 50. I take profit several times at different levels. I don't like to stay in trades for a long time. Better to take profit at level, watch price and then get in again in same direction. Some traders ride price too long and then they lose half of profit. I want to keep my profitIgnored
Disliked{quote} But will this not result in a general bigger risk for reward ? meaning that you often risk more then you stand to get ? Also instead of taking profit of have you consider let the whole position remain and instead at where you should take profit have a trailing stop ? Thank You. Best regardsIgnored
Disliked{quote} You can... I just like to secure the profit so I have some more margin to play with. Usually price respects the levels and slows down a bit while another pair is picking up momentum. Its all up to the trader. This is just my style.Ignored
DislikedHello Chenzo, The concept is good and simple. Well done on this. Just a quick one, the MTF Moving Avarege Indicator (in top right-hand side of the screen) is not in the zip file. You mention look it up in the marketplace but what does that mean as I am struggling to find? Thank youIgnored
DislikedThis is why I say every trade is different. 95% of traders lose because stops are too small or they cant handle being in DD. Below is my chart on EURUSD that I'm in DD. Now, I said my stop loss is usually 70 pips. Price went 19 pips more in to a zone. So I risked an additional 19 pips to see if the zone would be respected. At times the Market makers will raise or lower price to certain levels where most people put there stops and others have pending orders. You must try and figure out where most retail traders put stops and go above this level....Ignored