Was stopped out by a pip before it reverses, unlucky. I have a question though, for this particular trade that hit my stop loss (breakeven), will you put a new buy limit if it tests that level again or wait for a clear lower low?
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DislikedWas stopped out by a pip before it reverses, unlucky. I have a question though, for this particular trade that hit my stop loss (breakeven), will you put a new buy limit if it tests that level again or wait for a clear lower low? {image}Ignored
Disliked{quote} If this current trade get to BE and drops, what is the next line of action: should there now be a sell limit at 0977ish or we wait for a swing low to be formed and then put a buy limit for when it returns. In the meantime we still keep the sell limits at 10486 and 10865. Have you ever had a loosing month with this strategy. I understand that it is inevitable that we have a loosing day/week I suggest that post 232 be added to the essential read. Thank you for your timeIgnored
DislikedI closed early, when it looked to me we were heading back to test resistance. I managed a bit better than BE. It may well head back up with CPI news in the next couple of hours , but for me now its sit on my hands time with EURUSDIgnored
DislikedSo why would we not want to place a buy limit at the 1.0946ish area right now?Ignored
Disliked{quote} Because you already took shot at it not long ago and failed, sure it faked us out but its not really shooting up either... need to be patient to let it fully develop a new swing low, it still looks like a bounce... need a full loop round to develop and approach it again to take shot at again. stay patient. GLIgnored
Disliked{quote} Really looking forward to how tradable buy and sell limit levels will develop from within the marked area. Again is there a set number of pips between a buy and sell limit you use as filter? Thank you very much {image}Ignored
Disliked{quote} I would not do that. I follow the plan and stay away from those types of decisions where I can save a few but miss a ride. I know you made couple of bucks instead of even like me or rest of us. But if it had turned on you right there and ran to the moon, you would have sat there and beat yourself up for interfering. that is a bad feeling to create for yourself just to save a few winning tips vs abandoning your trading plan and discipline. You want to do the same thing all the time, staying solid so you have something to fall back on otherwise...Ignored
Disliked{quote} All good I respect your discipline and restraint, which no doubt has come from your experience with your strategy. My comment was not intended to cast doubt on it merely record my nervous decision. I shall regroup and look for the next swing. ThanksIgnored
Disliked...Disliked{quote} Thanks for the reply. Can I check if it is a valid sell (10031) and buy (9661) as these are mid-range valleys/peaks I feel. Or if it’s not, why is it not a valid level?[/quote How is that a Peak or Valley? (blue circle) I marked it off your chart its not, that is nothing but a wick in a continuation... so therefore like we have explained earlier right above be patient for new swing low to form. wicks are nothing if they are not in a essential location like peaks and valleys. does that mean price will not react toIgnoredIgnored
Disliked{quote}{quote} Then may I ask why you consider this as a valid Peak in the circle? It does not break the previous swing high (10866) but you still considered this as a level. {image}Ignored
Disliked{quote} That is clearly valid... your got a high or Peak (blue circle) then price made a clear V and the square box is a valid trade. {image}Ignored
Disliked{quote} Why did you consider this as a valid level then, since there was no clear low formed on that candle and u set a buy limit order as shown from your square box. Sorry for asking a lot of questions as I do not get the mid ranges valleys/peaks. I thought this was a valid sell (2nd image) because of the V shape formed as well similar to this (1st image) which caused my confusion. Hope you can enlighten me thanks {image} {image}Ignored
DislikedOkey so now we have a new level 10024 is in play I already got a sell limit order. I also decided to take one more shot at 9410 after the drop for now missed my order by couple of pips. Hence the drop push off validates the new swing low level at 10024. Going to bed. GL {image}Ignored