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If you were using pivot lines, you would have realised you were in a sell zone hitting R1, and when you saw that stochastic divergence on the 15 minute, MACD divergence and that hammer, i think you would have covered your short position. Not to mention that attempt in a providing a double...

i am now exiting that trade because my predicted high would be at 1.2117, halfway through the central Pivot Line and R1, and it failed to reach that and it seems it puts another inverted hammer there. I am waiting for a retracement so i could buy it again. MY TRAILING STOP is at 1.2080...

For instance my trade now on the Euro, went from 1.2030 to 1.2100 and i am still in the trade with just 15 pips stop loss because of that hammer that appears just at S1... neat, eh?

Anyways, using stops without having a resistance or supply line to judge the whole thing after is a little risky. I am trading the FX and using pivot lines, and always having lines drawn halfway between S1, S2, S3, R1 etc... You wouldn't imagine the times that price goes from one of these...

illiquid. I am glad you too think that tight stop losses increase performance. On the other hand, i had a better thought about this. When i was starting out, my mentor forced me to put a 20 pip stop and have a 1/2 to 1/3 - loss/profit ratio, so that i could chase trades that only guaranteed...

And still, profit is taken at the exit. A good entry is helpful, but do not underestimate the tools that KEEP you in the trade... And one of those toold is a TRAILING STOP. ok. stop. :D

Ok, when you are new at trading, your stop loss IS a pain. Sometimes it can eat you alive, BUT that is exactly because you do not understand very well the laws of supply and demand and how the mass of traders tend to think. Somebody said earlier that if you place a stop loss in a logical...

WILLIAM D GANN. Ever heard of this dude? Very interesting.... Some guys are greater than the ones you know from like 40 years ago. Imagine those guys in the 30s in front of computers... don't think so... but still... made tens of times more than you and me dream of today. Anybody else...

Thanks Mtzianos, I did not check the futures chart, that was only by the spot pair. I am glad i got this right as i put a trade to take profit at 1.2200 and a stop loss at 1.1950 because of this. How do you see this?

Hey. I posted this on a separate thread in the main section. I have this image of an analisys of mine and what i would like to see is opinions from you guys regarding this. I call this a bottom and a retrace to the 30day EMA plotted on the chart in the image. First the price should...

Oh. I just saw this. A similar situation can be found just below where it says Plot Area on the image. Just about the same, and it kinda did what it was supposed to do. Retest the EMA. Now, I am not saying this is a MAJOR reversal, but as stated, a test of that trendline set and a closing...

As an addition, i have opened a long position with TP at 1.2200 and a stop loss at 1.1950. How would you see this?

Hello people, i am new to elite trader, but have had quite an experience about trading currencies and that is why i would like to share an opinion with you and maybe get some answer. For that i thank you in advance and would like to wish everyone here good luck with your trading. Now, the...