Trade opportunity?
- This topic has 72 replies, 4 voices, and was last updated 7 years, 8 months ago by
.
-
Posts
-
0.61% gain for april. I hit a drawdown towards the end of the month. In the first week i smashed a 6.22% gain, but tried to short eurgbp down into 0.77 area but kept getting taken out.
Still, it is still positive anyway. 🙂
Enjoy your weekend.
Lewis
its been pretty breakeven… Im gutted, cause i had a eurgbp short in my battleplan yesterday based off the head & shoulders pattern it had made. luckily i didnt get put into a trade on the first engulf.. and i wish i went in on the 5min cross over, but i tried to wait for a second engulf and then the market ran without me 🙁
And the exact same thing for usdjpy, not a single engulf appeared in the morning, i should of used the crossover…
however, still got another week to go…
Finally got to catch up on the webinar. Its good just to go over everything again! 🙂
Long EURJPY & AUDUSD today.
Thanks again!
Been having a bad run lately. I’m finding that the markets are going the direction i want them to go, however i keep getting stopped out. I’m on an 9% drawdown… I have been down this low before when i was trading a smaller account, and made it back pretty easily. But now I am trading a larger account the emotional side is definitely creeping up on me haha.
I have a feeling that it is cause the summer months are a lot slower. The whole brexit situation certainly doesnt help 😮 hahah
Any tips you might have would be greatly appreciated 🙂
Cheers!
Hi Lewis,
One thing you could try is to scale your size back temporarily. This’ll help you see if it is an emotional response that’s causing the issues: e.g. are you being too quick to trail your stop in through fear, or placing your initial stops closer than you would when using smaller stakes? It can be a subtle and otherwise undetected subconscious process that may have started!
Maybe go back to 10p per pip and test your technical execution of your strategy. Taking the emotion of bigger stakes away can help you put your finger on whether it’s an emotional thing or a technical execution thing.
Hope it helps…
All the best,
RichYeh, i think im going to scale back for the rest of august and just practice the strategy. I will post my battleplans etc again so i can see what you think of my analysis.
Cheers 🙂
Hi,
Long here on AUDCAD. loose stop loss because it is at the turning point of the market.
There is heavy support (arrows) and it is in a position to also bounce off the trend line.Target is back up to the highs where i predict a double top.
Cheers
Also a simple trend continuation trade. Short on GBPJPY.
Stop loss above at 132.595 if i can. If the market moves away from there too much, then just 1 pip above the next engulf.
Target at 130.357 where major resistance lies, is at the 1.27 fib extension and is 200 pips GAAN level.Cheers! 🙂
Enjoy your weekend folks
Hi Lewis,
AUDCAD – looks like that support is standing firm (for the time being at least!)
GBPJPY – did you get on it? Nice downmove you anticipated there! 😀
I didnt getting involved in the long on AUDCAD as there was no engulf for me.
I managed to get in on gbpjpy right at the top and traded the full down move for a nice 5:1 risk/reward. 🙂
I ended up shorting audcad on the 5min crossover last night though because it broke the trendline. Was nice to wake up to it in profit and then running to hit my target at 0.98391. got a 3:1 risk/reward on that 🙂 Once it broke resisting on the MOR, i used the retest/support to jump in and short it.
Feel confident again already. I think i was just having an unlucky run.
Cheers
- You must be logged in to reply to this topic.