The bounceback from 1.1 was weak according to volume. Price probably bounced back because of the strenght 1.1 has but not to break the downtrend. It is highly probable that price would go at least to retest 1.1 but I see so much strenght that could probably even break down again
액티브 트레이드:
price is resting at a clear support. Not strong evidence of price starting a spike up. I will let it run.
액티브 트레이드:
United States-Fed policy decision-Fed Funds Target Rate fundamental coming soon.
Hopefully price can stay below 1.1 by the time the fundamental arrives. I will probably protect to break even 5 minutes before the fundamental arrives.
Hopefully price can stay below 1.1 by the time the fundamental arrives. I will probably protect to break even 5 minutes before the fundamental arrives.
액티브 트레이드:
This is one of the times when you have to be mentally strong. You have to trust your analysis and because your risk reward ratio is well managed, let the operation keep going. At this moment there are reasons to go up, since 1.1 has been respected with a strong volume bar on the 5 minute chart, but also there are reasons to keep going down since a lower high has appeared on 15 minute chart. Hence, I will let this run either to SL or TP.
액티브 트레이드:
The bounce back has no volume support.
I will keep my Stop where it is. I will not protect to break even. I used to mess up with stop loss and learned the hard way. Forex is probabilities and risk management. It is not easy, but it is specific. Once you understand how speific it is, then it becomes simple
I will keep my Stop where it is. I will not protect to break even. I used to mess up with stop loss and learned the hard way. Forex is probabilities and risk management. It is not easy, but it is specific. Once you understand how speific it is, then it becomes simple
액티브 트레이드:
No. I will not get out with small loss.
I will not put my SL in a higher price.
I will leave things as they are. I am not afraid to lose a trade.
How many times you were afraid to lose a trade and got out just to see price going widely to your tp.
You have to understand nobody can win every trade. Once you understand that, the world is yous.
I will not put my SL in a higher price.
I will leave things as they are. I am not afraid to lose a trade.
How many times you were afraid to lose a trade and got out just to see price going widely to your tp.
You have to understand nobody can win every trade. Once you understand that, the world is yous.
액티브 트레이드:
Doesnt it feel great?
Many people risking 10, 20, 50, 100% of their account. They have been plugged to their computers for a week maybe. And we are just risking 1% on this trade. We risk 1%, we go for 2%. Even if this feels a slow approach, believe me it is the fastest approach.
It doesnt matter to make 50% of your account in one trade if next trade you are losing 80%. It is better to compund small wins like 2%, but that at the end of the day made more mony that the majority of your trades that went to SL at 1%. With a 1-2 reward ratio, you can win just 45% of your trades and still make money in the long run.
Many people risking 10, 20, 50, 100% of their account. They have been plugged to their computers for a week maybe. And we are just risking 1% on this trade. We risk 1%, we go for 2%. Even if this feels a slow approach, believe me it is the fastest approach.
It doesnt matter to make 50% of your account in one trade if next trade you are losing 80%. It is better to compund small wins like 2%, but that at the end of the day made more mony that the majority of your trades that went to SL at 1%. With a 1-2 reward ratio, you can win just 45% of your trades and still make money in the long run.