Haha... nicely put forexwoman!TQ!
How many positions do you normally start with that your closing some?
That is for you to decide,pal
just try it out in demo.. Get the feel of it...
just do it!(nike..
)
Is the stoploss, a mental one, because the minimum I can place is 10 pips from current price?
My min stoploss is 5pips, but if your s/l is 10, put it anyway!As long as there is s/l. Ok... just want to tell you all, support and resistance is crucial in s/l and take profit.. Almost all the time you could see the market will move to support and resistance..
These are what i do:
1)open charts one hour or so before market open.
2)take a look at 4h,1h and 30min charts and draw all the support and resistance lines.
3)go to 5min chart and draw all the support and resistance lines.
4)After that, just wait for a signal...
5)once the signal is sounded, refresh the chart and look at all the mtf indicators.. if i like how it looks, i will enter! once you hav entered a position, put your s/l just few pips above the support and resistance line of the 5min tf... if all the signals are showing down,market rarely move to your s/l.
You just gotta try it on demo to get the feel of it, everytime you do something wrong, analyze and remember. It is my s/l too low? it is i am too rush? it is my lack of confidence? Analyze.. sooner or later, you will gain confidence and trade totally emotionless and successfully.. It might be sooner than you think! haha...
