Hi Eric and folks,
one question:
Take as an example the short USDJPY trade quoted here, the signal looked very good. Turned out now abt 12 hrs later, that the trade show a buy singall!!
What do you normally do here???
A) closed the trade for a little loss
B) let it run and wait for TP or SL to be hit
C) stop and reverse?
I know it's not easy to generalise, but comments on this will be highly appreciated.
Keep up the good work
Originally Posted by TimeFreedom http://www.forexfactory.com/images/buttons/viewpost.gif
SHORT | USDJPY | LOTS: 1 | @ 120.22 | SL: 120.57 | TP: 119.52
Calculated SL based on last four candles range before entry candle:
SL:
High 120.57 - Low 120.11 = 46 * 0.68 = 31/35 pips. SL = 120.22 + .35 = 120.57
TP:
TP = 35 * 2 = 70; 120.22 -.70 = 119.52
one question:
Take as an example the short USDJPY trade quoted here, the signal looked very good. Turned out now abt 12 hrs later, that the trade show a buy singall!!
What do you normally do here???
A) closed the trade for a little loss
B) let it run and wait for TP or SL to be hit
C) stop and reverse?
I know it's not easy to generalise, but comments on this will be highly appreciated.
Keep up the good work
Originally Posted by TimeFreedom http://www.forexfactory.com/images/buttons/viewpost.gif
SHORT | USDJPY | LOTS: 1 | @ 120.22 | SL: 120.57 | TP: 119.52
Calculated SL based on last four candles range before entry candle:
SL:
High 120.57 - Low 120.11 = 46 * 0.68 = 31/35 pips. SL = 120.22 + .35 = 120.57
TP:
TP = 35 * 2 = 70; 120.22 -.70 = 119.52
DislikedOn this one the SMI was very low but it was a good setup.
Best Regards,
EricFXIgnored
Less is more...