10K new account

I am looking at the chart and seeing it, but not sure I would see it live. I will study this and see if it sinks in :joy:

Thank you :+1:

i don t trade eurusd anymore 2, it s 1 of the pairs with most liquidity, therefore price doesn t have to move much in search of liquidity(money). smaller daily range only if u want to have a wide stop and try and capture a few pips, cos price rarely will move that much against u in 1 day on a pair like audchf for example… but if u have same stoploss on a pound cross, ur burrying urself cos most of the pound pairs move like crazy sometimes specially under news etc( plus theyr daily range is way bigger then the minor currencies).


that s why i said u need practice, practice makes perfect.


ofc u shouldn t buy that high, plus has a very small wick bellow, that s more like saying hey, i might retrace a bit, it s not a proper no supply, but just as an example of how u can expect retracements, and know if it s just a retracement or a reversal etc. to me it just makes sence.

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New week, fresh trades.

Read my lessons learned from last week. Picked less volatile pairs, and I will trade less.

AUDNZD Buy
CADJPY Sell
GBPJPY Buy (I know that this has broken one of my rules)
CHFJPY Sell

Stop losses placed out of the noise.

Tiny position sizes, so clearly the cash is small.

66 pips approx, so happy with the direction prediction.

CADJPY still running. In draw down, but I was early to the trade so I expected that. I will see where that goes.

Also still running with GBPJPY & CHFJPY. Both currently in profit. Liking the look of the CHFJPY, so fingers crossed.

Appreciate this. Following along with interest. Got some good stuff from some of the regulars already. Sweet!

I think I’m missing the obvious, Why is that?

KC

because he wants to target a few pips only but having a wide stop, so pairs with a smaller adr won t put him into extreme drawdown in 1 single day should he enter at a point and price goes directly against him. if he s gonna trade pound pairs or gold, or singapore dollar etc, he s gonna get crushed beeing on the wrong side of the trade.

@frandlost What @1odi said.

Though I would add, that ideally I would like to target more than a few pips, but I have a bad habit of closing a trade once in profit. I have recognised the fault, and I’m working on it :grin:

Someone once told me that bad habits are easy to form and hard to break. Good habits are hard to form, and easy to break. I believe this is true

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in progress, let s see what will happen

Very bullish candle on the daily chart a few days ago.

i m only going for twice my risk
at 1 to 1 i set break even and dependin on the volume and the candles i might put something in the bank or not
well, what do u know… looks like it s pickin up ahaha, stop at BE, so now can do whatever
6 pips of profit, closed, there s nothing to trade in anticipation of the news, shity day

gold is dead today, i guess they ll consolidate till FOMC later on today, stay away of news btw

Roger.

Tx!

KC

your welcome

My trades that I took on Monday have just broken out of drawdown and are now in profit, though only just.

hahahahha.life s cruel huh
wishin and prayin and hopin
kudos to u tho if ur capable to trade like that, i try to keep my DD as small as possible( that also means i try to cut losses quick, smthin u won t learn trading like that)

It’s great that you keep risk reward ratio at reasonable levels where max loss doesn’t exceed max profit. But you could also introduce more safety to your trading limiting max loss per trade to 1% of equity. This will ensure a streak of losing trades (which will happen anyway on a relatively long trading timeframe) won’t erode your account equity too much.

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Im busy the next few days, so probably wont be able to monitor trades. I was overall up, so decided to close them all.

£9 loss on CADJPN but £10 up (including loss) overall.

I think CADJPN would have gone into profit, but not completly sure. I wouldnt be surprised if I dont reenter that trade once a few more candles have shown probable direction.