we says thanks for u advising...
thank's , i will more learn and patience....
now maybe i will cutt loss for better my live acc (-57pis)...
and stay away for a while till nonfarm employment launched...
so much for our H&S........next trade..........
i hate counting on this GBP/JPY, i said to my self 1000 times: dont trade it, is to riski, you can not afford such a stop loss!!!
But evrey time when i see opportunity, i jump in. Thats is the bigest mistake that i always made it only on gbp-jpy. But it always go in my dirrection of the trade, but after the hitting my stop loss.
Happy to have other pairs.
Reduce the amount of lots and you should be fine
ummmm if this thread is about tading the EW than stops are determined by what the currency can not do according to EW rules...arbitrary stopp losses are sure things to get hit often.....size of stop determines how many lots you can trade......I trade 2.5% per trade.....more lots with a 50 pips stop than a 100.......but if I need a 100 to keep my trade safe than for every 100 pips my way, I gain 2.5% on my account......4 of those a month and I make 10% on a monthly basis..........
Price has gone up while I slept... retracing towards 76.4% of wave A of what I think is a wave 2 down.
I will have to adjust my targets for the Zigzag wave down.
I think the sub wave c down is having a leading diagonal wave 1 now and likely doing wave 2 before plunging for wave 3 and end wave 5 down @ 1.4679 which is 50% retrace of main wave 1 from 1.4580 to 1.4780 or if extended would then be tillFE 161.8 @ 1.4629 which is also the 76.4% of the main wave 1.Then I would look for new Long trades at this levels.
EG
Thats all good.......I just have problems with arbritary stop losses.....you must at least place a stop behind a barrier to protect it from retraces.....or you will find alot of stops get hit and then the currency goes the direction you thought it was going to go......make a currency reverse a trend to find your stop, not just retrace.....size your position according to the stop needed.........then you start seeing a higher percentage of winning trades......I get worked up a little about these things because when I first was being taught to trade with a company named FXTrainer they had the "template" for trading....25 pip stop for short term 50 pip stop for day trading etc etc.......nice little package wrapped up in a bow....guarenteed to lose you money......
