EUR/USD : 3 open trades at 1.2907, 1.3055 and 1.3184, no SL has been touched
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I have 2 trades open for EUR/USD pair.... I lost the first trade for not following the rules.... with profit though....
I wanted to know about the GBP/USD pair specially.... It was promising and it seems that it wants to reverse.... at one point I had unrealized about $30 profit with a single microlot position... then I had another position with missing a valid long position... but with the S/L being hit.... realized gain is $6..... I'm just learning now.... is it normal scenario in forex trading or I've done anything wrong.... one thing... I haven't learned to analyze news... so I don't follow news yet.... so zebulon, what do you think??
if it's beyond the scope of discussion in this thread, you can just ignore it..
thanks
Mazis12
GBP/USD : 2 trades open at 1.5521 and 1.5732.
No SL has been touched
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Ok, I think, I've got my fault detected here.... as we learn from our mistakes... I want to share my mistake... Pls Zebulon... tell me I'm right or wrong here....
after missing a second trade at 1.5732, I entered a long again when the price touched the 50 EMA at 1.5792 which was not a valid entry point.... right?? for this my S/L at 1.5692 got a hit so did the S/L of first trade as it moved to same level.... so there is no position open for me here....
Zebulon, I'm still missing the entry points by about 30-40 pips.... what can I do for it???? I'm trying to ride on time.... every time it's making the difference
I have 2 trades open for EUR/USD pair.... I lost the first trade for not following the rules.... with profit though....
I wanted to know about the GBP/USD pair specially.... It was promising and it seems that it wants to reverse.... at one point I had unrealized about $30 profit with a single microlot position... then I had another position with missing a valid long position... but with the S/L being hit.... realized gain is $6..... I'm just learning now.... is it normal scenario in forex trading or I've done anything wrong.... one thing... I haven't...
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When we are not enough patient, SL give us frustation each time they are touched. Don't forget we are looking for big moves with 5 or 6 entries which will give us plenty of pips. When little moves brings me little pips, it is good for me, i wait for the next start.
Second thing, i think all the news are in the price.
I don't need to analyse news. I just know that at 2.30 pm, we could have a move, maybe a big one, maybe up, maybe down. I don't know.
But i know what i will do according to the price level.
EUR/JPY : buy at 99.86, when price was 200 pips up, i have moved SL to BE.
SL touched at BE.
After a range period (5 EMA cross 3 times 50 EMA), i have wait for 15 candles before buying at 102.68.
Hope this can help !!
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My 15th candle closed at 102.82 and I missed the next candle by 21 pips.... I entered the position then.... for that I got caught the S/L..... so I think, as I missed the entry point, I shouldn't have entered into the trade.... right??
Ok, I think, I've got my fault detected here.... as we learn from our mistakes... I want to share my mistake... Pls Zebulon... tell me I'm right or wrong here....
after missing a second trade at 1.5732, I entered a long again when the price touched the 50 EMA at 1.5792 which was not a valid entry point.... right?? for this my S/L at 1.5692 got a hit so did the S/L of first trade as it moved to same level.... so there is no position open for me here....
Zebulon, I'm still missing the entry points by about 30-40 pips.... what can I do for it????...
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If i had missed the entry at 1.5732, i would have entered at 1.5792 like you and i would have 100 pips loss with no regrets.
I'm also missing some entries. i place pending orders to avoid it...
My 15th candle closed at 102.82 and I missed the next candle by 21 pips.... I entered the position then.... for that I got caught the S/L..... so I think, as I missed the entry point, I shouldn't have entered into the trade.... right??
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Yes, if i miss an entry, i wait for the price comming back to my entry point, i don't buy at a higher level.
Or i'm waiting for a new entry...
If i had missed the entry at 1.5732, i would have entered at 1.5792 like you and i would have 100 pips loss with no regrets.
I'm also missing some entries. i place pending orders to avoid it...
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happy to hear that.... not for your missing entries... but for the right execution by me for the trade at 1.5792, resulting in loss though which is of course a part of trading...
I'm trying to learn to place the pending orders... I've got the position in EUR/USD pair at 1.3180 by a pending order...
Now how should I look at the charts to place such.... at the end of every 4 hour candle?? then place the pending order after opening of next candle or what?? just.... what's the proper time of placing pending order when price moves toward the 50 EMA??
Yes, if i miss an entry, i wait for the price comming back to my entry point, i don't buy at a higher level.
Or i'm waiting for a new entry...
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Ok, I got it... thanks....another question.... you've told that.... you wait for the price coming back to entry point or for a new entry.... about coming back to the entry point.... do you enter into the trade when price come right up to the level of entry point by a pending order or what??
Ok, I got it... thanks....another question.... you've told that.... you wait for the price coming back to entry point or for a new entry.... about coming back to the entry point.... do you enter into the trade when price come right up to the level of entry point by a pending order or what??
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Yes, a real example, i have missed the entry on EUR/USD at 1.3184 february the 10th. I have placed a pending order at 1.3184 which has been touched february the 13th...
Hi friends. I took a long in GBP/USD at 1.5731, so the stop is placed at 1.5631. If the current bar close below 1.5673 (100 pips below the 50 sma), should I close the long and open a short?
Hi friends. I took a long in GBP/USD at 1.5731, so the stop is placed at 1.5631. If the current bar close below 1.5673 (100 pips below the 50 sma), should I close the long and open a short?
Thanks for your work Zebulon.
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No, i let the SL at 1.5631. I will not go short if my SL is not touched.
No, i let the SL at 1.5631. I will not go short if my SL is not touched.
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Zebulon,
I just wanted to ask the question that-- as the price of EU is approaching my S/L 1.3080... (current price is 1.3100).... should I prepare to go short?.... (I'm asking it not being impatient... but trying to understand the process).... before asking, I refreshed the page and I saw your last 2 posts
so as you mentioned in the previous post.... I need to wait till the S/L being hit at 1.3080 and then if price closes >100 pips below 50 EMA then go for short.....
It's early midnight in my timezone.... so as the price nearing a trigger point, how should I monitor it and get into action in right time?? what would you do in such a situation, zebulon?? Pending order??? or try to monitor 4 hourly to enter in a possible/probable opening trade???
