Taking some demo trades today that I didnt want to try life
EA +58 pip
GCAD -73 pip
GU +123 pip
Ucad +116 pip
Hi TC,
Open position at right time is crucial as well as exit the trade properly because we donāt have big account.
When I open trade I try to wait until the candle close in any given time frame, that way we can open position at our initial entry price or better price.
Once you open a position with SL you are comfortable to take the loss if trades goes against you. By moving SL to BE you are reducing the potential opportunity to make profit.
Suppose you open 2 standard lots and your SL is 50 pips but you want to reduce the risk asap, price move your predicted direction and you move SL to BE and you are on profit and then price pullback and stop you out then move again to your predicted direction and hit your TP but you did not make any profit. You just missed a good trades because you did not managed your trades properly.
First solution of this problem, try to reduce your lot to1 standard lot or less and you can keep your SL to 50 or more by that way you reduce your total risk and you can hold the trade longer.
Second solution, suppose you have SL 50 pips and TP 100 pips and price move 25 + in your favour but you noticed that price can move against you for any reason, you can take partial profit and move SL to 25 pips so you still have 50 pips SL and you still keep a good chance of getting more profit.
It is really hard to accept when we missed TP for few pips, suppose you have TP 100 pips and SL 50 pips and trade goes in your favour, now you have 80 + pips but you did not move your SL that means you are risking 130 pips for 20 pips. The best advice is to protect your profit , you can move SL to 60 pips that means you are risking 20 pips for 20 pips.
Why you reading bias wrong?
Do you review your losing trades ?
Hi priceactionmaster,
Nikita donāt come here anymore.
For manual trading, sharebazarās money management is good to execute. but one important thin is that scale in position size should only be applied to more than 100 pips profit, best at position strategy.
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Hi sheldon,
You donāt need 100 pips profit for scale in, when you adding to your original position you can add any time when you are confirm that you are in a good trades. But if you want to scale in whole position which is totally a separate position then you can fixed an amount of pips according to your risk tolerance.
hi sharebazar,
I know what you mean, scale in same chance, same TP, not a separate position. my opinion is that itās more propability to profit when this chance has more than 100
pips TP.
Thanks Sharebazar,
It makes all sense what you say. Missing a view pips happens only when I am not behind my charts over night or if I go out of house. Sometimes market moves fast in that time.
When you see a pin bar or doji on the weekly chart on a s&r What is the bias?
When I trail my SL I look at HH HL on the chart to put my SL on a logic place But you are right that I also have to look at RR during the trade like it is a new trade.
Yes I review all my trades after a view days to see what really happened in the market.
Trade open (eurjpy) in this moment on demo. RR was 1:1 or little better 15 min chart
Bad luck?
Original SL about 40 pips and TP about 80
moved SL to BE and this was hit caused by spread and slippage Price wasnāt even that close
Then it went straight to my TP
Well NFP had just come out about 30 minutes before you made the trade. That report carries allot of movement and you got hit because of it. This stuff happens often to traders TC Holland , what i do is nerve wrecking but it works for me. I take the trade and if it goes my way good, but as soon as it starts to turn i pull the trigger. Sometimes i will go in a few times and it works fine , just remember as you would for any trade have a plan before you go inn. There is no time for hesitation on this type of trade idea.
Hi TC holland,
My EA short gbpusd and the way which ea analysis gbpusd is really like Nikitaās way.
You miss the powerful key point from Nikita,
That is to setup a order when it retest half of the
Pin bar, you enter a littly early.
My robot enter when it retest pin bar, higher 20 pips
Than yours, so when ea move it to BE, it is not out of
Be.
You are almost there, Nikita is our great mentor.
My GU trade made me 184 pips.
43 pips
61 pips
80 pips
Thank you all.
The set up of my trade was a set and forget. If I had not moved it to BE I would have won 85 pips.
But I moved it and price didnāt go all the way to my SL There was a gap of a view pips, bigger then the spread It shouldnāt have triggered my SL at all. The good news is I didnāt lose!!!
Tony, thanks for remembering that I have to start looking for the news
I was very happy with my demo trading this week I made 4% and won 70% of the trades Next week to confirm if I am back on track again and found the problem.
Have a nice weekendā¦
I took my GBPJPY over the weekend and took a look how market opened. ( Against your advice Tonyro44)
Marked opened with a big gap and hit my TP. My second TP target was between 152.5 and 152.0
Hi TC,
Nice trade, I missed this trade but I was short on NJ and closed with 93 pips.
Nice trade to Sharebazar,
I closed a Long trade on NJ when you opened for short. Had about 50 pips from it
I am practising and testing on demo again. Overtrading and taking a lot of trades with a 1:1 R:R After 4 weeks back on Break even
Looking for better entry trigger practice and trade management Also my trading Psychology needs attention.
Hi TC,
You are doing well just keep focus on the process and good results will follow.
I was also long on NJ and closed with 56 pips just where I open my short position.
Hi every oneā¦ I read first 5 pages for many timesā¦ Nowā¦ Iām begging you that could you please assume me as the dummiest person in this thread and explain me the 8th post?? I did not understand why itās a sell on eu?? It should be a buy because there is forming a pin bar which means trend is changing?? Please, be explainable to me, remember, iām the dummiest oneā¦
I think it must be the [B][U]penultimate[/U][/B] bar which the OP was saying was a āsellā, though his wording in the post is far from clear. Not the last bar, with the arrow underneath it, which he does say ānow looks like a reversalā.
Yes; thatās right.
I think not! In any case, I agree with your perspective, so if you are, I am, also. 
Wow have no seen this thread in a while good to see some life being put back in it
Hi, may i also ask you the same question which i posted by number #4636?? (3 posts before this one)
Thank you very much for your contribution! Really, price action is the most powerful trading strategy in trading industry! Before I used an indicator based trading strategy after doing long analysis in demo, but I lost my real money with that trading system! By the way, now I am comfortable in live trading with my price action knowledge!