Thanks ST, initially it was but it led to something else unfortunately!
How are you deciding where to enter, where to place your stop, and where to have your target?
Why not post a chart of a typical trade, complete with stops and targets, then we can see what you're doing.
You mentioned long so we'll use long in an example......
Identify the significant low and high you're going to draw your Fib levels from and to. Decide where you're going to enter. Place your stop somewhere below the 100.0% low (on the basis that it...
Thank you for your concern, Sir.
I've been having a hard time to come to the forum lately.
Right, I don't know how to post a chart in here... perhaps it's not hard I just need some free time to learn it.
Based on that chart above my entries are actually being good I presume, but I was thinking maybe it's the time that I am getting in.
It's being impossible for me to trade in the morning, so I analise the chart (15M Chart) late at night, check to confirm the trend and place a stop loss on where I think it's reasonable. I am trying to go for a 3:1 reward/risk ratio so risking around 30 to 35 pips and trying to go for 80 to 90 pips.
Well, if the trend is going upwards maybe that significant drop that sometimes getting in the morning (reversal) before going up is not being enough, and/or I should be trading in the morning only (I live in the UK) or I should drop it even lower but I don't feel comfortable with it, as it's a habit that I don't want to get into.
Thanks gents and hopes that it made sense.
A
