I would like to warn everyone that this kind of "price action" like trading is extremely dangerous for 2 reasons:
-1 No rules, you just wander up and down without thinking.
-2 Emotions will own you soon.
Trader enemy number one is lack of rules and emotional issues.
And you're going straight there, toward your wipe out.
As soon as market conditions change you're going to experience late entries and early exits losing all you have gained in 1/10th of time.
I would like to warn everyone that this kind of "price action" like trading is extremely dangerous for 2 reasons:
-1 No rules, you just wander up and down without thinking. -2 Emotions will own you soon.
Trader enemy number one is lack of rules and emotional issues.
And you're going straight there, toward your wipe out.
As soon as market conditions change you're going to experience late entries and early exits losing all you gained have in 1/10th of time.
A man warned is a man saved.
Ignored
Hmm, first post on the FF forum, and you decide to make yor presence known here. Not exactly a credible poster.
Gigi, don't worry, obviously they are not trading on a live account, and I even doubt if they are trading at all, even on a demo. Nobody has time to trade the tick chart or ticker as they call it, put up 100 trades a day, post 100 times a day, manage the trades, and then brag about making 900 pips a day.
I would like to warn everyone that this kind of "price action" like trading is extremely dangerous for 2 reasons:
-1 No rules, you just wander up and down without thinking. -2 Emotions will own you soon.
Trader enemy number one is lack of rules and emotional issues.
And you're going straight there, toward your wipe out.
As soon as market conditions change you're going to experience late entries and early exits losing all you have gained in 1/10th of time.
Gigi, with S/L set at -15, and stop trading after three losses in a row, there are clear rules with a money management strategy that prevents you getting wiped out.
I would argue about a documentable trading plan...
1/ the stop loss is only a safety stop......its very rarely allowed to be hit by using a manual exit....with no clear exit rule...except dont let a win turn into a loss...and I think it was originally -25.
2/as far as 3 losses in a row....by cutting trades loose early ..again a run of losses is unlikely..you and shakes have plenty of 1st lot 0 trades.
touched previous resistance of 1.2935 from 6.38am and 8am, waiting to see if there is a slight pullback, move S/L to -5 on each i.e 1.2933 (buy price 1.2937) and take profit to +5 on each i.e. 1.2923 (buy price 1.2925)
still learning, maybe should be less anxious and having already moved my S/L to -5 on each there was no real need to close that trade early. Price might fall some more, looking for a buy entry point...
Eur/Usd scalping inspired by Shakesfx
still made 4 pips profit on last trade so no panic