DislikedThe reason why I am showing you the trades because the 2nd one is the "bottom swing" and alot of traders would rather take the low swing as discussed on this thread. Do you understand?
AutoIgnored
In the example on 27th page the swing low was 10 candles away, in your case, it is 35 candles away. The farther away, the less powerfull it is.
I wrote about the length too, how far that low is also matters.
By the way, that low is 5 !!! five lows away. I would not use that low as anything. That comes from experience and would have saved both trades on 27th page and this trade too.
It is always different, depending on situation. I hope you got out of that trade... But as For M15 it would be a valid entry! Don't know if it is going to be a winner yet.
If would say, there should be max one low inbetween, if there is two, you can ignore the previous one. But again, don't just follow my words, all situations are different. The information is all over the place in threads, read as much as you can otherwise noone can really help you (because every situation is different and you are on your own).
I would also recommend (strongly recommend) to risk 2% per trade at max. Doing wrong enries with 5% can be very painful, especially when there is still experienced to be gained and things to be learned before being forex fluent.
Nothing prevents you from risking 0.1%, that's even safer, still real money at play, until you get the feel of the system.
And if you are unsure, you can always skip the trade, or place the trade on demo. I always have demo open on the side of my live acc. I do some crazy things on there^^ Like doing opposite of what I do on my live account or using high leverage and high risk to see how an account can be blown by 50 pips.
I hope that trade did not hurt much.
I found a penny today. That's +100 pips for me.
. I know loosing is part of the business and I just want to make sure that my entry was correct. Thank you cubby for your system .
it's such a bad news.
