stop hit
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The hard road to consistency
- Thread starter calmeurotrader
- Start date
P/L: -96$
Made a really bad mistake and didn't take a trade when a proper setup was present. There was a chance to short 2985 at about 8:15GMT. I have hesitated and missed the opportunity.
Made a really bad mistake and didn't take a trade when a proper setup was present. There was a chance to short 2985 at about 8:15GMT. I have hesitated and missed the opportunity.
I don't think that 5 min is more volatile than 1hour timeframe.I would just adjust my stop and target appropriately. Unfortunately trading the bigger timeframe would produce much less opportunities during the day.Maybe your having a hard time because your trading on 1 and 5min charts??... try trading a time frame thats not so volatile.
no trades today
BUY 148K 28645 STOP 585 TARGET 765
target hit
BUY 104K 2866 STOP 2851 TARGET 2911
target filled at 15:26GMT
I am using fixed stop and targets only. Normally it's at least 1:2 risk to reward depending on the setuphow does your system determine your targets? Is it market based or money management based?
I have tried to use targets based on the market behaviour and most of the time mismanaged the trade.