out of curiosity, u took 40 pips, right? just how much ur stop was? in pips?
Bingo. You have spotted the flaw in it. The SL was way out of the noise. That will keep me in the game longer if I am on trend, but punish me if I get it wrong.
Even with small lots, it quickly adds up if its lots of pips.
Still working on it.
u do as u think best, but unless u have a sizeble account to afford wide stops and only going for a few pips, u gonna have issues. plus ur win rate should be very high to pull that 1 off imo. i m not saying it isn t possible , but i just don t see how would u profit…every1 has losses, and when u gonna have 1 that erases X amount of wins, it s not gonna be pretty.
but hey, we all have to slam our heads against the wall and feel the pain to know it s real. moreover, if u wanna do that, i d suggest going for crosses with a smaller daily atr, don t trade the pound. take pairs like aussie, kiwi crosses, chf stuff like that.(just my opinion)
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I second this.
@1odi & @The_Baller. Thanks guys. I respect your views, and I’m taking them on board. It always amazes me that some people on here ask for views and knowledge and then when offered it get very defensive. I am here to make money and learn, so I genuinely appreciate it. I hadn’t really thought about the type of pairs. I was just looking at support and resistance. The pair and the daily ATR are something I will look at for my future trades.
Had 1 x small trade this morning which is now closed. Zero live trades, and that really is me for the week.
Finished £44 profit.
Lessons for next week:
- Less trades
- Choose pairs with lower daily ATR
- Stop Loss placement
- Remove profit, but leave portion of trade running- move SL to produce risk free trade
Thanks guys. Have a great weekend. And for you Baller, not too much pizza…
These are the fundamentals. Money makes the world go around. Learning makes money.
I’m in the Isle of Wight until Monday and haven’t found any decent pizza joints according to Google maps… yet. So you may be right.
(was a scalp that turned into a swing trade)no headache, tp1 and 2 out, last pos running, might close it today tho to not carry over the weekend, good risk reward, so even if now price would spike up and hit my stop which is not still at breakeven, i d still be in profit on this trade. just to show that it can be done without takin huge risk for what could be little or no reward. cheers
Nice clear trade. They look so nice in hindsight. Thanks for sharing it. Makes it look simple, but clearly it isn’t…or is it:joy:
Fun, but definitely much more when winning 
these are actual trades that i m taking, plus if i ain t mistaken i also called out some short entry on gold right when it was happening lol… plus i showed some trades while they were developing yesterday so…i m not trying to show off or whatever cos i can t care less about every1 in here what they think or say, as long as i make money it s equal to 0. like i said, i saw ur trying to improve, so if i can help… i had no1 helping me when i started trading, had to figure all this ■■■■ out by myself. anyways, 1 last point i wanted to make. don t just throw volume or fibs on ur charts if u don t understand how to read them, look into it and see how it can help u, it s a very discret way of trading, u have to watch the trade unfold, see if there s strenght or weakness coming in, if it s worth leaving it run or just take some profits and lock break even cos it s showing demand coming in for ex if ur short… anyways, u decide for urself what s more comfortable for u, style of trading etc.
what gpb nzd ended up doing? that s volume for u.
Cheers @1odi.
I get Fibs, and have used them successfully. Volumes I kind of get, but I find them harder to read. It will take practise.
I appreciate that you are taking your time to share this.
I don’t want to wish the weekend away, but already looking forward to trading next week 
check out pete s fader thread on volume and vsa, it really explains all u need to know in a very easy way to understand. helped me also to figure out some stuff volume related and it s all free.
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it s a way of entering a trade using volume, and u can use this at a fib lvl, support or resistance, fake break etc, ofc after u developed a bias on a higher timeframe(weak or strong background). like let s say u look at daily and u see strenght in the background(meaning price is moving up, sellers aren t showing) then u drill down on 4hr or 1hr, u wait for a fib retrace and u enter using a method like i just showed u(also have to make sure that there s no high volume at the top cos that would mean weakness and they are selling into the up move). ofc there would be a lot more to say,bottom line is u need practice, but…it could turn ur trading around from just breakin even to start makin some nice profits…anyways, hope this helps( u need to stare at the charts for hrs and hrs, analising, look at the reactions, effort vs result etc) but very doable if ur keen to make trading work . cheers
I’m just curious, why pairs with lower ATR?
I believe that if you get the direction wrong, its less damaging i.e. less pips=less lost £. Obviously thats a double edged sword too. Also, less volatility. Maybe more predictable too, but obviously its a numbers game and no one can see the future, only work the odds in your favour as much as possible.
I had stopped trading EURUSD because I couldn’t work out which way it was going. Now I have been advised by two traders that lower ATR might work in my favour. I am going to take their advice and see how it goes.
Hope that answers your question @steveepperson
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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 
Thank you 
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.