EU, +22pips . exit at previous day low.
- #382
- Apr 23, 2020 1:01am Apr 23, 2020 1:01am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
Took a short on the FTSE.. Open to criticism.. {image}
- #383
- Apr 23, 2020 1:01am Apr 23, 2020 1:01am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
{image} EU, +22pips . exit at previous day low.
- #385
- Apr 23, 2020 1:16am Apr 23, 2020 1:16am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
Hi All, Nice Gold Trade. Quick profit. SMA acted as a good support. As soon as price went past the Daily Open with good momentum the trade was entered. Didn't take long to reach the Daily High. Nice and safe. Regards {image}
- #386
- Apr 23, 2020 1:20am Apr 23, 2020 1:20am
-44 pips on my CADJPY short.
Lesson learned: I put my SL way too conservative, price already return almost to my entry price. Should give it much more breathing space to the trade (even though I can't monitor it that much).
Lesson learned: I put my SL way too conservative, price already return almost to my entry price. Should give it much more breathing space to the trade (even though I can't monitor it that much).
{quote} It could be that you need to remove a few existing indicators. Try temporarily moving a batch out of your indicators folder and then refreshing your navigator window.
All you touch and all you see, is all your life will ever be.
- #389
- Apr 23, 2020 1:34am Apr 23, 2020 1:34am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
-44 pips on my CADJPY short. Lesson learned: I put my SL way too conservative, price already return almost to my entry price. Should give it much more breathing space to the trade (even though I can't monitor it that much). {image}
Trading longer timeframes will allow for bigger gains than are likely on the lower timeframes but the losses will be bigger too. I think I'm correct in recalling that your last trade was a 130 pip winner though so it's still a solid start
- #390
- Apr 23, 2020 1:40am Apr 23, 2020 1:40am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
Just a quick Gold chart to demonstrate something. Notice how it broke yesterday's high at the 3rd or 4th attempt. This is a bullish sign.
It's possible it could come back to yesterday's high for a re-test but it could just as easily sky-rocket.
- #392
- Apr 23, 2020 2:02am Apr 23, 2020 2:02am
- Joined Jul 2011 | Status: Gold Again | 10,643 Posts
It takes a lot for me to IGNORE you, but you can try.
- #398
- Apr 23, 2020 2:41am Apr 23, 2020 2:41am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
Just made my first EURUSD scalp using your method LauraT. Must admit, it makes screening the market much more easier on the eyes for me. Will continue following this thread. Thanks for your input! {image}
- #400
- Apr 23, 2020 2:47am Apr 23, 2020 2:47am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
Hello Laura, This thread is so interested and got me hooked on and subscribed. Been try out the strategy, are those yellow-pointed a valid entry point for short? By the time, only M30 is green; M1-15 is red and it below 50 RSI (ignore the purple line)... It still not far from the SMA200 and it touched the upper band and got lose in these entry point I made(Triggered SL in yellow box). No worry, it just a demo account. And did you put on SL and TP? And, actually I still not sure when to get out of the trade. Much appreciate if you able to give some...
Those are valid entry points, yes. Trades like that aren't invalidated until the channel fully crosses the SMA, so your stop loss at the SMA would be a bit tight.
I wouldn't advise trading EURGBP on 1m timeframe though. The ADR is far too low to make it viable.
Getting out of the trade has to come down to your own judgement, based on what you want to achieve from the trade. Either exiting at a logical horizontal line or aiming for a certain number of pips or monetary gain.
I will be writing about trade management at the weekend though.
Hope this helps.