Stoploss was about 27 pips, take profit 13 or 14 and it woud have been hit.
And if you are 3 pips away from from TP move your stop loss to break even where you placed order, otherwise you just see how this trade would go -40 pips against you.
hi this setup has latest formed on eur/usd 15min .moving averages were all gud on 1 hour and i have been stopped out on 15 min jus wana know is my understanding of this method is correct ?
hi this setup has latest formed on eur/usd 15min .moving averages were all gud on 1 hour and i have been stopped out on 15 min jus wana know is my understanding of this method is correct ?
Ignored
Yes, correct entry, I also was stopped out here, so no worries.
Why this entry is bad is because there were two other entries before, so it is so to say too late to join the trend.
It was a 5 min trade in my case with stoploss 24 pips, but 24 pips is not enough for M15 trade. So you would have needed to increase your SL and decrese lot size.
Yes, correct entry, I also was stopped out here, so no worries.
Why this entry is bad is because there were two other entries before, so it is so to say too late to join the trend.
It was a 5 min trade in my case with stoploss 24 pips, but 24 pips is not enough for M15 trade. So you would have needed to increase your SL and decrese lot size.
Ignored
I had to write in on this trade because if this trade was taken on the 15 min timeframe instead of the 5 minute you would still be in this trade.
Yes, correct entry, I also was stopped out here, so no worries.
Why this entry is bad is because there were two other entries before, so it is so to say too late to join the trend.
It was a 5 min trade in my case with stoploss 24 pips, but 24 pips is not enough for M15 trade. So you would have needed to increase your SL and decrese lot size.
Ignored
thanks for ur help and yes that makes alot sense maybe it was too late to join the trend
Yes, correct entry, I also was stopped out here, so no worries.
Why this entry is bad is because there were two other entries before, so it is so to say too late to join the trend.
It was a 5 min trade in my case with stoploss 24 pips, but 24 pips is not enough for M15 trade. So you would have needed to increase your SL and decrese lot size.
Ignored
Hi guys,
Your stop loss is incorrect on this trade?
It should have been the last swing high.
The candle you point to as the stop loss does not have two lower highs proceeding it - therefore it is not a "swing high".
If you had placed it in the correct place you would have got to your tp level.
One major problem I find with this system is the point you enter a trade, if you enter at the beginning of a trend you're probably onto a winner, but if you enter too late you could well be on a loser, very easy to see in retrospect but the point of entry needs very careful analysis.
One major problem I find with this system is the point you enter a trade, if you enter at the beginning of a trend you're probably onto a winner, but if you enter too late you could well be on a loser, very easy to see in retrospect but the point of entry needs very careful analysis.
Ignored
Hi
If you have a look at the link I posted to the 123 thread, Paulus describes his method which pretty much eliminates this problem. He uses it simply as a reversal method, so you trade the first retrace which has much higher odds of success.
One major problem I find with this system is the point you enter a trade, if you enter at the beginning of a trend you're probably onto a winner, but if you enter too late you could well be on a loser, very easy to see in retrospect but the point of entry needs very careful analysis.
Ignored
Totally agree!! you can't always use this strategy for every single set up you find during the day, especially on a Monday like this with low volatility. Always be cautious... however, still remains an excellent method
