#5) I bought 10000 GBP/USD @ 1,5707 SL @ 1,5680
I closed #5) @ break even todaty profit: 0
Hey man, best of luck, opening a real account for the first time is always difficult.
How large are your Stops and your Targets?
My commitment is to never set stops larger than 40 pips and TP at least twice the size of SL.
I use support/resistance lines to set stops, if there is none within 40 pips from current price i will not enter a trade.
I will usually move stops to as price goes in my direction.
What are you using for indicators?
I will not be trading this week
[QUOTE=“krzysztof;672277”]I will not be trading this week[/QUOTE] Why is that?
I am on my christmas holiday already 
ok…but just remember Support and Resistance can be unreliable…can never know which ones are going to hold. Its a good idea to have a set Pip as your Stop Loss, but the fact that you use the word “commitment” sounds like this is not firm rule.
Moving Stops is a good idea to protect profits. However, the fact that you are monitoring profit means that you could be cutting your trades/profitability short by doing this. Emotions can also come into place to affect your decision.
Good luck though…
That is all true. But such approach has worked on demo. A lot is going on in the markets this week. It was a good decission to remain neutral this week.
[QUOTE=“DRFXTRADING;672451”]ok…but just remember Support and Resistance can be unreliable…can never know which ones are going to hold. Its a good idea to have a set Pip as your Stop Loss, but the fact that you use the word “commitment” sounds like this is not firm rule. Moving Stops is a good idea to protect profits. However, the fact that you are monitoring profit means that you could be cutting your trades/profitability short by doing this. Emotions can also come into place to affect your decision. Good luck though…[/QUOTE] the only time when support and resistances don’t work is went central banks gets involved and news releases. Other then that there are your best reference points
…ahh…but with real money at stake, different story…
All the best though…
[QUOTE=“DRFXTRADING;672623”]…ahh…but with real money at stake, different story… All the best though…[/QUOTE] I made 27,0000 with 3,000 in one month and lost it lol it’s not a different story it’s entirely the story. Trading is actual pretty simple but once you stop implying your own rules that’s your downfall I would know
