Luck occurs when preparation meets with opportunity.
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Dislikedwell, another potential trade has been missed.![]()
because of the pin bar formed on H4 and as the 10MA appeared to have turned upside prevented me taking this touch trade on 50MA. if I got in I would have taken my other 15 pips for today and would close the screen. anyway, waiting for the next setup. there will always be another trade...Ignored
DislikedI don't understand. If you had good reasons for not getting into the trade, then it was not a potential trade. Not every touch of the 35 or 50 is a potential trade. In this case, I happen to disagree with you on the 10 turning. But, it did look to me like the 35 and 50 were diverging. On this one, I think it was a by the rules trade, but that there were also good reasons for not taking it. As it happens, I too did not take it.Ignored
DislikedI don't understand. If you had good reasons for not getting into the trade, then it was not a potential trade. Not every touch of the 35 or 50 is a potential trade. In this case, I happen to disagree with you on the 10 turning. But, it did look to me like the 35 and 50 were diverging. On this one, I think it was a by the rules trade, but that there were also good reasons for not taking it. As it happens, I too did not take it.Ignored
DislikedFunny how it goes with this, though.
Often, "good reasons" for taking or not taking a trade are not really "good reasons" but judgment calls.
It's often the case that I can talk myself out of good trades and into bad trades, and I always seem to have "good reasons", until after the fact, when I realize those reasons were not really that "good" after I have pressed the button or missed the opportunity, whichever is the case.
It's all part of the psychology.... where subconsciously you interpret what you see differently at different...Ignored
Dislikedhi all,
I had 2 trades today to reach my daily target.
I would like to ask your opinion about the first one which I took at the touch of 35MA, however, got stopped out at -15. What was wrong about it that it didn't work out?
Previously I had drawn a trend line from the low of yesterday and when price touched that and retraced, I entered once more and got +45 pips.
I'm off now reaching my target of +30 pips...
hope I'll see you tomorrow with other succesfull ones...
good luck to all...Ignored
DislikedFirst, not every good trade makes money.
On my charts, it drops a little less than 12 pips from the 35 before going...Ignored
DislikedFirst, not every good trade makes money.
On my charts, it drops a little less than 12 pips from the 35 before going the other way. ...Ignored
DislikedFirst, not every good trade makes money.
On my charts, it drops a little less than 12 pips from the 35 before going the other way. Even with the spread, this would not have gotten stopped out with my broker, if taken from the 35. If you took it from the 50, that's a different story, and it would get taken out on a 15 pip stop.
There are three things I would consider on this trade. First, price has already moved through a number of MAs that are nearby, including the H4 50, the H1 50, the H4 10, and the H1 10. Then it runs into the M15 50 and...Ignored
DislikedPrice hesitated so I closed at +20 pips. It was up 28 pips at one point, then I finally heard Clay (from the original manual): "Don't be afraid to take your pips and get out!" Glad I did now!Ignored