Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
- #32,721
- Aug 7, 2018 11:30am Aug 7, 2018 11:30am
- Joined Oct 2017 | Status: Follow the Order Flow! | 1,073 Posts
- #32,724
- Aug 7, 2018 11:43am Aug 7, 2018 11:43am
- Joined Oct 2017 | Status: Follow the Order Flow! | 1,073 Posts
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
- #32,726
- Aug 7, 2018 11:48am Aug 7, 2018 11:48am
- | Joined Jul 2018 | Status: Trader | 1,514 Posts
buy the rumor,sell the news
- #32,727
- Edited 12:08pm Aug 7, 2018 11:49am | Edited 12:08pm
- Joined Dec 2017 | Status: Trader | 30,688 Posts
look like flag 
Dollar Index is afraid of number 95
Dollar Index is afraid of number 95
yes yes yes
- #32,728
- Aug 7, 2018 11:51am Aug 7, 2018 11:51am
- | Joined Jul 2018 | Status: Trader | 1,514 Posts
price shud retrace to 1.1610 and quite possibly to 1.1666...there was no technical reason for price to drop this far except for china and turkey imbroglio trump started. if you payed attention usd/jpy synched up with eu and that should go back up to its technical level.... unless that idiot starts tweeting low volume baby LOL
buy the rumor,sell the news
- #32,731
- Aug 7, 2018 12:01pm Aug 7, 2018 12:01pm
- Joined Sep 2017 | Status: Trader | 4,365 Posts
{quote} Wavegarrick, I agreed with you statement,Hard stop loss is to instill some sort of order to a chaos environment especially for new & trigger happy traders. A ready & discipline trader. example you would have multiple position say a buy/long bias. And your target TP 1.21, you are willing to loss 80% of your capital & your cut off is 1.12. “Mise en place” an initial stop loss is a must due to adding position / position sizing. (With a stop loss at 1.12 you are able to calculate additional position to add and not be surprise as you...
Thanks for the response. I agree with your words. The fact of the matter is that more traders will get it right most of the time with their entries. The pitfall is that most new traders do not know how to manage their trades after the initial entry. So yes, it is true to say that a stoploss is neccessary for trigger happy traders and more so for traders that are new and dont know the difference between margin levels and leverage. I have to say that I can normally identify traders that are new or not new at this game. Trading is not a quick get rich scheme and takes years of practise and blown accounts. I have been there. I see a lot of new traders trading big lot sizes and of course if you have excess savings or your daddy is rich I encourage you to do so, but please do not take a mortgage on the house to do your trading. This is when I say "Stop". Trade small and take your time with your entries and exits. Build your account and increase lot sizes according to your experience and account growth.
When it comes to stops there are many ways. I am using a trade manager that offsets losers agains winners and that helps in containing an overall drawdown. Just remember that if your trading entry fails more than 50% of the time it is reason enough to be cautious and time to look for either tweaking, enhancing or moving onto a new strat. Having said I never let my margin level drop below drop below 3000%.. Loser are contained with winners. So when it comes to losing 80% of my capital. No such and have not experienced this in many years.
Hope I answered in detail.
Cheers
I like your signature by the way
Trade to trade another day
- #32,733
- Aug 7, 2018 12:05pm Aug 7, 2018 12:05pm
- Joined Jan 2010 | Status: The Voodoo Boodoo Club | 42,084 Posts
Short 1593, false break on the 15M downtrend. Overall bullish so this one is short term..... 20 pip s/l initial, will tighten it up big time if it goes my way.
- #32,736
- Aug 7, 2018 12:20pm Aug 7, 2018 12:20pm
- Joined Oct 2009 | Status: Trader | 5,673 Posts
Not sure if we have a new uptrend, indicators seem fine for a new bull run but shorter frames not so fine1598 resistance but possible 5 waves on H4, 1573 to scupper imo Volume neg atm 18:50 UK anything over 15888 could start the 5th good luck
Always trade your own plan...I don't provide trading signals.
- #32,738
- Aug 7, 2018 12:23pm Aug 7, 2018 12:23pm
- Joined Aug 2017 | Status: Just a little Aussi Battler | 4,571 Posts
- #32,739
- Aug 7, 2018 12:31pm Aug 7, 2018 12:31pm
- Joined May 2014 | Status: Full Time Trader | 27,300 Posts
I think in a few hours many will see why I don't prefer breakouts of steep trendlines.. especially when candles go back below 1.1585 it will be obvious and probably too late for early buyers.. 
Stay Green
Stay Green
Focus only on what truly matters!
- #32,740
- Aug 7, 2018 12:34pm Aug 7, 2018 12:34pm
- Joined Dec 2017 | Status: Trader | 30,688 Posts
let's the long continue
yes yes yes