Anybody caught it?
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- #2,263
- Oct 17, 2024 10:02pm Oct 17, 2024 10:02pm
- Joined Nov 2008 | Status: Trader | 50,185 Posts
Hello all! I am not new to Forex, but I am new to posting here. I wanted to share my naked chart and talk with others on how I manage successful trades over the years. I've added 2 snap shots of my charts. I will give a clue on my daily targets. They are the 5 ADR for target 1 and then I take 10% off that to get my target 2. I'd love to get some feedback. Thanks all as I appreciate the way we trade. {image} {image}
I Like the ADR targets ...
Position Sizing is also important when we have multiple exits TP1, TP2 and TP3
Lets say my initial entry is 1.0 full lot
TP1 is 50%
TP2 is 30%
TP3 is 20%
I use the CaveManager EA in the OP' post #324
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #2,264
- Oct 18, 2024 2:51am Oct 18, 2024 2:51am
- Joined Nov 2008 | Status: Trader | 50,185 Posts
DE40 Oct 18
- missed the Frankfurt Open
- now it is difficult to pick the next with small stop loss
- sometimes the market can be rather kind
...
- missed the Frankfurt Open
- now it is difficult to pick the next with small stop loss
- sometimes the market can be rather kind
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #2,265
- Oct 18, 2024 9:31am Oct 18, 2024 9:31am
I never take a trade if it doesn't meet certain a criteria. The biggest is a 3 for 1 profit. I'm willing to risk 1 for the gain of 3. A loss is inevitable so by following rules you set will help in the long run. I also only trade off a 15min chart, anything below that is just noise. Also, when price goes past my entry I lock it in and your right, scaling out is important as well. I'm willing to be an open book and if anyone is interested in setting up their charts like mine, please just ask. So much I can talk about 
- #2,267
- Oct 22, 2024 12:49pm Oct 22, 2024 12:49pm
- Joined Nov 2008 | Status: Trader | 50,185 Posts
I never take a trade if it doesn't meet certain a criteria. The biggest is a 3 for 1 profit. I'm willing to risk 1 for the gain of 3. A loss is inevitable so by following rules you set will help in the long run. I also only trade off a 15min chart, anything below that is just noise. Also, when price goes past my entry I lock it in and your right, scaling out is important as well. I'm willing to be an open book and if anyone is interested in setting up their charts like mine, please just ask. So much I can talk about
Good post sharing knowledge and experience.
Risk : Reward 1:3 is good will give your a Statistical Edge
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #2,268
- Oct 28, 2024 5:26am Oct 28, 2024 5:26am
- Joined Jun 2015 | Status: Trader | 1,340 Posts
Your trade order needs to be in the right place at the right time.
- #2,277
- Nov 18, 2024 6:21am Nov 18, 2024 6:21am
- Joined Sep 2006 | Status: Trader | 10,702 Posts
EU. Closed the trade at 3R, because of extended candle, I thought, it will reverse, but it continued and it would hit my target 6.5R.{image} {file}
every Saint has a past. Every Sinner has a Future
- #2,278
- Nov 18, 2024 6:36am Nov 18, 2024 6:36am
{quote} Notice how the 15 minute time frame is great for trading for the patient person
