Well, more your reasoning behind the trade(s).
The trendline was tested several times, broke and was retested from below.
It seemed you sold after that retest failed to break upwards again..
Trading Forex
- Thread starter padutrader
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The trendline was tested several times, broke and was retested from below.
It seemed you sold after that retest failed to break upwards again..
made 3473 usd so far....the deposit is the discount [ rebate ] in broker's commission so that too is my profit.
i made 4 trades with one losing trade....that trade was counter trend and i cut it very fast once it did not go my way immediately.....
not wasting any more on kamakazi counter trend trades in my life...there is enough money to be made without resorting to speculative trades
with important data coming in, in 1 hour 50 min from now, there should be opportunity to add some more.....
i made 4 trades with one losing trade....that trade was counter trend and i cut it very fast once it did not go my way immediately.....
not wasting any more on kamakazi counter trend trades in my life...there is enough money to be made without resorting to speculative trades
with important data coming in, in 1 hour 50 min from now, there should be opportunity to add some more.....
actually i do not remember if those retests happened before or after i entered ..... i entered because the down move was in a channel and it did not seem finished....also it was at a support level and it was hanging about there, waiting for traders to buy...also there was no counter trend strength earlier in the form of breakout up out of channel,which would have failed...so that left either a BO upwards or a climactic move down...i did not wait for that down climax bar to close: i knew it was a stop run
so closed the short before the close of the bar.
the rebound was a certainty-that is why i closed the trade before the end of that bar but i am not yet used to closing a position and opening one immediately, in the opposite direction.
no doubt the wisdom of doing that will be etched in my mind next time around
EDIT it was a very unconventional trade because eur was at support at the bottom of range and the right thing was to buy....the context was buy...but if it is obvious then the market will discount that and i knew that the support will break and reverse.
be care full in learning from my trades or copying my reasoning every trade is different, every market situation is different.....in my 12 years i have come across a lot of them repeatedly...so eventually,by instinct, have learnt.
my way is developed for me and that is why i do not think anyone can learn it
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market has gone into 'MARKET DATA MODE'
better i / we go into sleep mode
better i / we go into sleep mode
Thanks and great results so far!
Fascinating that you added 4 times in the next 6 seconds of the AUDUSD trade!
But you had a tight stoploss, so that might be indeed the way to trade.
I personally like to keep an eye an the 1 min.
In a solid downtrend the highs are not taken out or any counterbar is immediately sold at the close.
You should move over to a regulated futures market. You can get $500 margin per contract trading the e-minis. Get used to the higher volatility levels with 2 contracts and then work your way back up to 8 as your profits grow. The RTY (Russell 2K) on the CME is probably the best one for you to start.
It's not a good idea to get too used to $400 wins with 8 lots on low volatility and keep doing that with positive 6-8 pip distances between adds. The losing of 9K and getting it back on another trade was your warning sign of possibly far graver things to come.
It's not a good idea to get too used to $400 wins with 8 lots on low volatility and keep doing that with positive 6-8 pip distances between adds. The losing of 9K and getting it back on another trade was your warning sign of possibly far graver things to come.
thanks you make sense....
i am still learning so forex may be the right place to learn.....
unfortunately Padu wouldn't listen.
sir,
i trade the market i get.....
i will, and this is my promise to you, that i will make GS cry.....
i can trade high volatility too......
like today in eur usd
just watch eur usd go up 100-200 ticks from now
i am no pussy
thanks
oh i listen and i
please see post 519
you do not know, who i have become...i will bring those manipulators to their knees
thank you
watch this space and watch eur go up 100 200,pips i do not know exactly which
i repeat i am no pussy