No H1 chart visible , you forgot to post it .
What was the reason to keep your SL after 10 pips profit ??
Risiko birgt immer auch die Chance.
- #10,681
- May 7, 2014 10:43am May 7, 2014 10:43am
- Joined Jun 2013 | Status: Membership Rewarded | 3,206 Posts
Risiko birgt immer auch die Chance.
Earlier today I was in EURCAD 1 hour 35/50 Pivot 4 h 10 Market went 11 pips in my favor and I moved my stop to BE. My initial Target was 26 pips at the next pivot. It took my BE stop and ultimately went to my 26 pips target. That's why I gave a little bit room to next trade. but news ruined it. What I have noticed is if we put BE stop then there is a high chance of your BE gets hit often, Because market does not move in straight line. Never.. Its better to take 10-15 pips and move on. That's why Kostas does not like BE. {image}
In my opinion one have to choose: to always move to BE at certain point (precisely defined) or never use BE and stick to that.
Personally I am trying to move to BE quickly to minimize loss but YMMV
- #10,690
- May 8, 2014 7:39am May 8, 2014 7:39am
- Joined Jun 2013 | Status: Membership Rewarded | 3,206 Posts
Two trades today -4,5 and +15 pips. Not bad
Bad entry ..
as you can see , end of day .. the confluence touch gave you a profit .. and your forced trade was a loser !
.... dance when the music plays .. not before .....
Risiko birgt immer auch die Chance.
First Trade USDJPY buy, SL4,5/TP15 Constrainment of 50EMA {image} EDIT SL hit -4,5 pips {image}
I wouldn't have taken this trade for two reasons:
1. low liquidity due to ECB Conference
2. In constrainments I look for a bell shaped formation something like:
* sorry for the rough representation but you get the idea;
This is only my opinion; I trade constrainments but I'm better at touches. Hope it helps.
You can always pick up the manual and give the constrainment chapter another read
.
{quote} In 1987, Andy Krieger, a 32-year-old currency trader at Bankers Trust, was carefully watching the currencies that were rallying against the dollar following the Black Monday crash. As investors and companies rushed out of the American dollar and into other currencies that had suffered less damage in the market crash, there were bound to be some currencies that would become fundamentally overvalued,...
- #10,699
- May 8, 2014 9:13am May 8, 2014 9:13am
- Joined Jun 2013 | Status: Membership Rewarded | 3,206 Posts
EURUSD +45 ( 1 min) Thanks to Dragi and Mister C {image}
incredible!
Risiko birgt immer auch die Chance.