Robinho system power 1x8

Quoting fxenthusiast

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{quote} I used to place stop loss by using the EA provided in this thread, but later it stopped functioning so I started to man the driver's wheel and watch the price action and take advantage of the momentum. If the trade went against my bias, I let the trade to finish its retracement and when it continues the trend, I wait till I get 10 to 20 pips and manually close the trade. For London open breakout like the recent trade I posted, I take advantage of the momentum and close my trade if I gain pips.

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Quoting joshuayip

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{quote} Hi fxenthusiast, what is the basis for the trend? Heatmap doki ?

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Quoting bgntrs

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{quote} Nice! may i ask what time you entered the trade @?

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Quoting fxenthusiast

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{quote} If the trade went against my bias, I let the trade to finish its retracement and when it continues the trend, I wait till I get 10 to 20 pips and manually close the trade.

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Quoting kwamecash

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{quote} Hi bgntrs, I normally trade 30 min after the open of every session at most 1 hour

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Quoting bubincka

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{quote} Hi fxenthusiast, thank you for your answer. But what if trade doesn't continue the trend after retracement and the loss becomes big ? I mean if the trade goes against you let's say 100 pips what do you do ? The answer to this question is the interesting part of the matter, the way you manage a situation where a loss initially small becomes so big to be unsustainable. Best regards, Bubincka

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Quoting bubincka

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{quote} Hi fxenthusiast, thank you for your answer. But what if trade doesn't continue the trend after retracement and the loss becomes big ? I mean if the trade goes against you let's say 100 pips what do you do ? The answer to this question is the interesting part of the matter, the way you manage a situation where a loss initially small becomes so big to be unsustainable. Best regards, Bubincka

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Quoting fxenthusiast

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{quote}. In my trade above, I did not place a hard stop loss but it's in my mind. I monitor the trade and let the price to have enough room to play. I am confident that price will go in the direction of the trend which is south.

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Quoting bubincka

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{quote} OK, understood. But now the question is : how many pips is the stop loss you keep in your mind for this trade ? In other words, how much is "enough room" for you before you accept the loss and close the trade ? Thank you, Bubincka

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Quoting Carneiro

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GBPNZD goes down about 400 pips

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