{quote} not really good.. close with small green better than red
i should hold a little more
there a chinese data coming
next train
just for a cup of coffee...
- #37,842
- Dec 1, 2019 6:43pm Dec 1, 2019 6:43pm
- | Commercial User | Joined Feb 2017 | 24,065 Posts
just for a cup of coffee...
- #37,843
- Dec 1, 2019 6:49pm Dec 1, 2019 6:49pm
- | Commercial User | Joined Feb 2017 | 24,065 Posts
breakfast and 
️
️ just for a cup of coffee...
- #37,845
- Dec 2, 2019 12:09am Dec 2, 2019 12:09am
- Joined Sep 2018 | Status: Trader | 11,173 Posts
Good day everyone
️
PA Return Today:
0.3%
- #37,846
- Dec 2, 2019 12:18am Dec 2, 2019 12:18am
Back testing and analyzing price action. Sharing this for any points/perspectives. This is a scenario where your 4h buy entry would fail...and a reason why you should always look at higher TF to get more clues. As someone mentioned in another forum, learning to see the trees from the forest. This week and in the past, I was getting burned and trapped by the markets. It made me re-evaluate my current system and adapt...or deal with it. I hate sitting in DD (as i've been using no SL).. It has it's pro's and cons...but being fairly new... though I...
) still learning so you can take or dismiss what I say But i have a VERY GOOD experience in mistakes, I've probably done every single one of them 
. Ive been trading for a while, always red red red, but the last few months im starting to get way more green. I've made a few changes that really made a difference in my trading, and by changes I mean more "sticking to the rules" rather than total change.One of them is money management/SL.
Trading without SL in my opinion is very very risky unless you are an experienced trader. As a beginner I think SL are extremely important. Now when I enter a trade I put a 20pips SL and I do NOT touch it, only exception is to change it to BE. It has made a huge difference, I still have losses but now the gains outweigh the losses mainly because I'm stopping my losses.
I started with SL then stopped putting them. The pair I was trading regularly come and hit my SL to then return in my direction. It took me a really long time to understand that the SL wasnt the problem, it's my entries that were not good.
Hope it helps
- #37,847
- Dec 2, 2019 12:50am Dec 2, 2019 12:50am
- Joined Sep 2018 | Status: Trader | 11,173 Posts
{quote} Hey mate, I just want to give my thoughts on your situation. I am NOT a good trader (yet
i get caught with 20 pips or 30 pips SL bfr , because i always jump in middle price whenever i think it will go up or down,
If we get the top or bot entry like akim , maybe 15-25 pips is enough ,
Just an example, we see some Resistance at some area here, but we miss the top entry,and the price already move 20 pips down,if we still want to enter, our stop should above the resistance 10-20 pips,so our stop loss may 30-40 pips risk, or else we can skip it , if we dont want to suffer so much risk.
if you enter the market with the price already move 20 pips, and you enter with 20 pips SL, price may go retest the high again, hit your SL and once again, it cannot break, it eventually will go your direction and make you heart pain for mistake
this is my experience
my point is stop loss need put wisely , depend our entry for wide or tight, wide stop loss may cause emotion, but tight stop with wrong entry also market easy to eat us before give us,
this may need patient for entry to reduce our risk
PA Return Today:
0.3%
- #37,849
- Dec 2, 2019 1:07am Dec 2, 2019 1:07am
- Joined Jun 2013 | Status: enjoying life | 23,868 Posts
- #37,850
- Dec 2, 2019 1:24am Dec 2, 2019 1:24am
- | Commercial User | Joined Feb 2017 | 24,065 Posts
just wake up..
let see what market will bring later
coffee first️
let see what market will bring later
coffee first
️ just for a cup of coffee...
- #37,851
- Dec 2, 2019 1:31am Dec 2, 2019 1:31am
- | Commercial User | Joined Feb 2017 | 24,065 Posts
shorting Gj
just for a cup of coffee...
- #37,852
- Dec 2, 2019 1:36am Dec 2, 2019 1:36am
- Joined Aug 2018 | Status: Joyful and Proud | 2,001 Posts
Good Morning! NZDUSD is nearing a horizontal resistance.
Risk Management is of utmost importance!
- #37,854
- Dec 2, 2019 1:48am Dec 2, 2019 1:48am
- Joined Aug 2018 | Status: Joyful and Proud | 2,001 Posts
shorting Gj
Risk Management is of utmost importance!
- #37,855
- Dec 2, 2019 1:49am Dec 2, 2019 1:49am
- | Commercial User | Joined Feb 2017 | 24,065 Posts
just for a cup of coffee...
{quote} Depend our entry , sometime you enter at middle price, stop loss may need to be wide, like should above resistance or below support, i get caught with 20 pips or 30 pips SL bfr , because i always jump in middle price whenever i think it will go up or down, If we get the top or bot entry like akim , maybe 15-25 pips is enough , Just an example, we see some Resistance at some area here, but we miss the top entry,and the price already move 20 pips down,if we still want to enter, our stop should above the resistance 10-20 pips,so our stop loss...
- #37,857
- Dec 2, 2019 2:02am Dec 2, 2019 2:02am
- | Commercial User | Joined Feb 2017 | 24,065 Posts
gold keep dropping 
just for a cup of coffee...
- #37,858
- Dec 2, 2019 2:05am Dec 2, 2019 2:05am
- | Commercial User | Joined Feb 2017 | 24,065 Posts
also try long at wti
just for a cup of coffee...
or it's shake and bake
