another gu textbook trade
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DislikedHi, EV!
Do You set SL behind the 'setup, or use fix SL like Masut?
Also, how do You mamage such a small TF?
THX, NLIgnored
DislikedI mean do You set a SL when enter a trade:for example: behind something or
wait for price move and set SL according to that?
And how do You mamage, I mean: move Your SL, or tipycally either it hit Your TP or SL... or anything like that...
NLIgnored
DislikedI mean do You set a SL when enter a trade:for example: behind something or
wait for price move and set SL according to that?
And how do You mamage, I mean: move Your SL, or tipycally either it hit Your TP or SL... or anything like that...
NLIgnored
DislikedSpeaking only for myself here...
I set an initial stoploss quite far away incase something major happens or I lose my connection or something...
But once in a trade I actively manage and follow what the market is doing.
Use experience for this.
I never set-and-forget.
I also never have a fixed target.
MagnusIgnored
DislikedAn early one for me on 5m cable after a Bullish Piercing Pattern formed smack on the xx50 psych-line. Strictly speaking, going long UNDER the Pivot isn't usually recommended, but I waited to see if price would head above the high of the BPP candle. Once it did, I was in, and then out again after price started retreating back to S2. A good start to the day.Ignored
DislikedGM all - LOL EV, you beat me to it, I too took a similar retracement buy based on similar logic, although I had also noticed that firstly the Lower Lows were - from FO onwards - having difficulty in going much lower ( 15 pips then 6 pips) and the Dollar vis Swissy was actually putting in Lower Lows too - i.e. it was weakening - thus supporting a buy in cable....
As you can see from my chart, I had taken some earlier shorts, continuing the Asian Session drop before starting buying for the retraces......
Edit: the coloured EMA (firebrick red and...Ignored
DislikedNice trades, mate, but as usual, most of them were WAAAAAYY to early for me!! Still in the Land of Nod at that time, I'm afraid!Ignored
DislikedLOL - a huge clap of thunder woke me an hour before my alarm, so I was up well before sparrows fart, so it was rude not to pirate some pips.....
BTW, what do you thing about that wide range green bullish engulfing candle about half an hour ago?......it was on high volume, but the lack of follow through worries me.....Ignored
DislikedLOL - a huge clap of thunder woke me an hour before my alarm, so I was up well before sparrows fart, so it was rude not to pirate some pips.....
BTW, what do you thing about that wide range green bullish engulfing candle about half an hour ago?......it was on high volume, but the lack of follow through worries me.....Ignored