well that is still ur own choice to take the trade. u are right, prices never go in straight line and move up/down but we are looking for very high probability trades which occur in the direction of trend. I think only experienced traders can benefit from the small retracements.so I think we should avoid going against the trend unless we are well aware what prices may be doing in next move.my opinion only.
Thanks for the feedback. I’ll try to remember that.
I’m currently down to -8% (according to my fxbook records), so I’ll need as much confirmation on all my trades before going for them.
Here is my trade 25, a buy on AUDCAD. I have initially set a limit buy order (on the light blue triangle on the left – forgot to put a white line), slightly above the 50% fib level.
Stop loss is on the red line (81 pips)
Take Profit is on the green line (110 pips)
R:R is 1.36:1
Here is the 4H time frame:
Here i sthe daily time frame charts:
EDIT:
After about a day, I have moved the stop loss to entry (-4 pips) since the trade is up now by 50 pips.
EDIT:
The trailing stop got hit, this trade gave me 0.29% on my funds.
Here is my trade 26, a sell on NZDUSD. I have initially set a limit sell order (slightly below the 50% fib level) on the light blue triangle on the right.
Stop loss is on the red line (57 pips)
Take profit is on the green line (74 pips)
R:R ratio is 1.30:1
Below is the 4H time frame charts:
Below is the daily time frame charts:
EDIT:
This trade got triggered, because of a sudden drop in prices, now i’m left down there. I’m still hoping prices will come towards me, and give me some pips.
This trade is currently -37 pips, half way to reach its 57pips stop loss.
EDIT:
After more than a day, this trade met a stop loss, giving me -0.94% of funds 
It seems the stop loss was not enough. I was so pressured at getting a reward to risk ratio of greater than 1:1, I ended up reducing the stop loss. I should have put it behind the nearest high, to put enough “barrier”. Now it seems prices are moving downwards towards the original take profit.
Lesson learned, don’t force the trade if reward to risk ratio is less than 1:1
So there, -0.94% of funds.
Where is your stop loss. Hope it is above 0.8480 !
Too late bijoy, my stop loss was at 0.8470, and it was hit this morning… oh dear.
I think I was so pressured at having a reward to risk ratio of greater than 1:1, that’s why I reduced my stop loss. Lesson learned. Now I’m thinking at re-entering the trade, with different stop loss. At least this time round, it will give me a reward-to-risk ratio of greater than 1:1
EDIT:
after posting this, I checked the pair, and it already moved +80 pips downwards, too late to enter the trade again :17:
I entered at 0.8475 in late night. Chart posted in my thread.
Here is my trade 27, a buy on NZDCAD.
There was a previous resistance (blue line), which turned support. I’m hoping prices will bounce off again from this support.
Stop loss is red line (37 pips)
Take profit is green line (67pips)
Reward to risk ratio of 1.8:1
I’m only putting in 0.5% on this trade, since the stop loss is less than 50 pips.
Here is a daily time frame chart:
EDIT:
This trade hit its target profit at 67 pips! It gave me 0.84% of funds. Finally! after a loosing streak, this is my first take profit.
I have set a limit buy order on AUDJPY (on the white line).
Blue dash lines are previous lows, and the blue solid line is a previous high.
Green line is Take Profit, Red line is Stop loss.
EDIT: This order has been triggered. So this has become trade 28.
Take profit is green line at 90 pips, Stop loss is red line at 63 pips. Reward to risk ratio is 1.43:1.
EDIT:
This trade met another stop loss. It gave me -0.98% of funds. What is so irritating is that it hit my stop loss, then continued moving toward my take profit.
I did not set enough stop loss!! it’s so frustrating!
Here is a possible trade on AUDUSD.
Take profit (green line) is 73 pips. Stop loss (red line) is 43 pips. Reward to risk ratio is 1.7:1
I’m only risking 0.5% due to small stop loss.
EDIT:
This trade was triggered last night, and early this morning it hit stop loss, giving me -0.48%. Again, it’s so frustrating that I never gave enough room for movement! After hitting my stop loss, it proceeded towards my original take profit! Same mistake over and over again… not enough stop loss.
It is very discouraging that I had quite a number of trades whose stop loss were hit, then proceeded in the direction of my take profit!
Look at these trades:
trade 26
trade 28
trade 29
I will need to find a better way of putting stop losses. For one, I need to put stop losses behind a recent high/low. If looking at a resistance, which previously served as support, provide enough room for movement.
I’m thinking of making trades with less than 100pips of stop loss as 1% risks, and for those trades with less than 100 pips have less than 1% (maybe 0.5%) risk.
Anymore recommendations?
Here is my trade 30, a buy on NZDUSD.
Take profit is 140, stop loss is 103, with a reward to risk ratio of 1.36:1.
Here is the daily chart:
Here is the 4H time frame chart:
EDIT:
This trade met a stop loss at -103 pips, giving me -0.96% of funds. another stop loss.
the best solution is that go over those trades again and ask ur self what was wrong with them.
did u follow the rules?
was the set up there?
was the trade premature?
was it too early/late?
I’m sure if u go back to the original chart and then ask the questions that what was the missing link at the time of execution. u need to go back and review every thing and make a list of common mistake and promise urself that u won’t repeat those mistakes. this way u can eliminate ur mistakes.
I’m doing the same things and was shocked to see some of my trades that how on earth I took that trade?
hopefully technique will work for u?
I have closed this trade at 36 pips, it was after weekends, and the trend shows opposite mine. I decided to close it to reduce further damage. I might just look at it again later to see the possibility of going back in the trade.
This trade gave me 0.07% of funds.
Thanks again for the attention Nisar. Like what I have said in my post, I was short in stop loss. I need to look at closely the stop losses I put in my future trades.
What happened to those trades above is that, after hitting stop loss, prices immediately moved towards my take profit. So If I had put enough stop loss, I could have earned from those trades.
Here is my trade 31, a buy on GBPAUD, with a 1% risk. (All my future trades will be 1% risk, unless otherwise stated).
Green line is my take profit (500 pips)
Red line is my stop loss (261 pips)
White line is my entry (1.4769)
Reward to risk ratio is 1.9:1
The solid blue line shown in the image shows a support line from a previous low on daily time frame.
The dashed blue line shown shows a support line (possible resistance?)
The yellow solid line shows a previous low on weekly time frame.
The weekly time frame:
EDIT:
After roughly a day, this trade is now up by 80+ pips, so I moved the stop loss to entry.
Here is a limit sell order on USDCHF.
White line is entry, green line is take profit (182), red line is stop loss (123), with a reward to risk ratio of 1.48:1.
trade 32 a sell on NZDCHF.
Take Profit is green line (171 pips)
Stop loss is red line (110 pips)
reward to risk ratio is 1.5:1
Stochastics is overbought, and MACD shows a downtrend.
EDIT:
I manually closed this trade at 55 pips, giving me a fund of 0.46%.
My original plan is that if prices seemed to stop on the purple line, I will close the trade.
I wasn’t able to post this trade when I made it.
The original stop loss (red dashed line) is 42 pips,
The take profit (green line) is 87 pips.
Reward to risk ratio is 2:1.
I put a 0.25% risk on this, since the stop loss is below 100pips, and the stop loss is near the most recent low.
Now the trade is up by 50 pips. so I already moved the stop loss behind the nearest low.
Here is my trade 35, a sell on AUDUSD.
STop loss is the red line (93 pips)
Take Profit is the green line (108 pips)
Reward to risk ratio is 1.16:1.
Stochastics is saying oversold, MACD shows a downtrend.
I will be risking 1% on this trade since the stop loss seems to have enough distance from the resistance (not too tight) and the stop loss is close to 100 pips.
EDIT:
This trade met its stop loss, giving me -0.96% of funds.