How often are these "go to bed" trades sucessful for you?
Daily EUR/USD trades
- Thread starter romik
- Start date
How often are these "go to bed" trades sucessful for you?
I don't follow FX so I don't know if your number is in or out of noise.
As b1s2 has mentioned many times, stops are to be placed outside of recent noise.
But if doing a "rogue" trade like the one I tried, which is not very professional, I placed an extremely tight stop because what I was trying to do was catch a falling knife which is taking a gamble more than playing the odds...
I screwed up and paid for it.
At the moment all positions initiated this morning, still open, are profitable, let's see how the week goes...=)
As b1s2 has mentioned many times, stops are to be placed outside of recent noise.
But if doing a "rogue" trade like the one I tried, which is not very professional, I placed an extremely tight stop because what I was trying to do was catch a falling knife which is taking a gamble more than playing the odds...
I screwed up and paid for it.
At the moment all positions initiated this morning, still open, are profitable, let's see how the week goes...=)
recent lows/highs can be different on different time frames, so his stop distance if he takes a signal off a 60 min chart can be way different from taking stop level off a 1 min chart. Also, do not forget that B1S2 has like 26 years experience, neither you or I possess that sort of knowledge, but that is a separate issue, more to do with letting a trade run and not taking profits too early. I can be seeing a signal on a 60 min TF, but reaction point can be 50 pips away. There is no way at the moment I am going to make it a regular stop distance, I tried once or twice, that has cost me. I would rather have 9 x 5 pip stops off a 1 min chart and eventually nail the right one. Of course 9 is a bit extreme. B1S2 is a master and that's partially linked to experience, not just knowledge and not to forget his multi million capitalisation. I need to make a living at the end of the year, which is based on 6 figure account value, not 7 or 8.
not many times...but i play a small size and gives me something to wake up to...small tuition fees type of trade man...and over the course, i am flat on such trades...so...
anyways..good morning forum...look forward to another vol day..
short aud/jpy..91.77..stop at 92.1, TP at 91
ciao
USD/JPY
I think there is still more upside for USD according to the daily divergence estimate of 118-119. So far there was an intraday divergence and a perhaps slightly odd looking H&S. Right now price is between a temporary S/R congestion zone 117-116.70. Yesterday afternoon's decline has gone down to 23.6% Fib retracement level and stalled.