A question I dare not ask my broker.

[kenazen]

Quote from uninvited_guest:

That's an easy observation after the fact. I did not have the luxury of looking into the future when I entered my trades, and those were live trades posted within minutes of being entered.

Having wider stops would not have helped, all it would have done is cause both positions to be opened at the same time and cancel each other out until one of the stops got hit. And then a retrace would close out the remaining position with the same results, but over a longer time frame.

Like I said, there is no free lunch with Forex.

Based on your first post, you would have gone long at 1.800 and got stopped out at 1.775. Then you would have gone short at 1.700 with a stop at 1.7725 and a profit target of 50 pips. Your target was met the next day.

If you had stuck to your plan, you would have made money, right?

 

[uninvited_guest]

Quote from kenazen:

Based on your first post, you would have gone long at 1.800 and got stopped out at 1.775. Then you would have gone short at 1.700 with a stop at 1.7725 and a profit target of 50 pips. Your target was met the next day.

If you had stuck to your plan, you would have made money, right?

I did stick to my plan, and re-entered a second order which also lost money. Remember...I can't look into the future.

Try an order like this when the markets are open, the wider your stops are the longer the position is open before any profit (if any) is made, but wider stops will not improve your chances at all. The problem is currencies jump up and down too much and take out your stops, it's not an even 600 pip climb. Without stops your long and short positions will cancel each other out.

I know from entering these sort of orders that you will NOT make money from them. I think I made about 5 orders on a live account and all lost money, my biggest profits came from directional orders (long or short, but not both) without stops (very risky).

There is no free lunch with forex.