Do you trade the news? Otherwise, maybe it wasn't a good idea to put a transaction in the middle of news ...
Do you trade the news? Otherwise, maybe it wasn't a good idea to put a transaction in the middle of news ...
Lookind to go area
I normally don't look at news, just the large ones on USD, but usually I don't.Originally Posted by ;
I think my trade hitted Sl not because of the news, didn't see more volatility or large moves during that time.
I attempt to open transactions round significant region and generally it goes straight to the TP or vise versa straight to the SL...
Thanks a lot for your advice, maybe I'll maintain a closer look to news next time!
Just to mention a bit how I determine to have a commerce or not
Let's begin from daily chart. The yesterday low has been near the 1.2500 area It bounced from there and moved up to the 1.2760 during the night it went down again and in the 8:00 candle it created a spike, so I decided to search for a retracement after the night autumn, purchased at 1.2608 it moved down hitted my own Sl after which the retracement began ...
Not a significant problem, happens! The entry area was good and the SL likely overly tight, but I don't care cause I don't wanto to place it too far away...
Now I am waiting to see if it goes down again, in that situation it should go down to the 8:00 low or lower (but don't care, I just want my TP to be hitted).
Why do I always say area? Since I look at price action I can see in the moment if I chose to place my TP to a certain level I'll examine the price and determine if at that lvl price begins to retrace or goes higher, in that way I could grab more pips, and think me after 1 year of trading they could make the difference between a regular system or a great system.
This time it was a simple one...
Short @ 1.2595
TP 1.2577
SL 1.2626
So today I Am -0.25%, let Us see the third Commerce
Sorry if I'm late but I could not post onforexforum.co.zafor a few days...
So let's see what happened:
Friday I ended up using a 0.75% loss
Monday I did just 1 commerce and it was a win for a 0.25%
Now I made a transaction this morning for a 0.25 percent, and I'm still waiting for a new installment.
What I discovered in these 3 days is that I'm leaving many many pips on the table, if I might have tried to depart differently likely now I would be in a much better place that has a good 1-2percent (in 3 days, not poor...)
Something else that I discovered is that likely I'm a good swing/trend trader rather than a speedy but modest gain trader...
So I'm not likely to change the rules, the platform must work good, but I'm not in the ideal mood with it, in other words the system is okay I'm the issue!!! But I'll implement a second system utilizing the same entry point using a different exit management and I will see which one fit the best with my character!
I' m still waiting for a seconnd installation...
Went short and got my 0.25% with the very first that I'll call system A
same entry point with next system (B) tried to ride the swing... ended with a 0.12% not much but better then nothing...
Now I'm trying to go long around @ 1.2773
Position opened long @ 1.2773
SYS A SL:1.2718 TP 1.2799
SYS B SL 1.2731 No TP will ride the swing!
Trade TP taken SYS A: 0.25%