I am hoping that there is an uptrend in this pair, stochastics is showing oversold, and MACD shows signs of uptrend.
Stop loss is red line (70 pips), and it is set immediately below the most recent low. I wanted to set it below the low on the left of the image, but I was eyeing for a reward to risk ratio that is close to 1.5:1, so I put it in its current location now
Take profit is green line (94 pips), and reward to risk ratio is 1.34:1.
% risk is 0.5% as I’m afraid the stop loss is not above 100 pips.
There is a general uptrend, as indicated by the blue line, stochastics and MACD are suggesting an uptrend.
Take profit is green line (91 pips), and stop loss is red line (90 pips), with a reward to risk ratio of 1:1. I’m thinking as soon as I have accumulated 40+ pips I might try to close the trade as I am not comfortable with the trade actually
After more than a week, I have decided to close the trade at 62 pips, and it gave me 0.33% of gains. This trade had a reward to risk ratio of 1:1, and the risk is 0.5%. I’m not confident anymore that it will actually hit my take profit.
I entered this trade (sell at USDCHF) at the yellow line (this was supposed to be white line). I was hoping at least for a consolidation to happen as soon as I entered, but it became a bounce.
Take profit is green line, and stop loss is red line. But stop loss was hit (at the maroon circle).
There seems to be a resistance slightly below the red line (on the chart). Prices already bounced twice on that resistance, so I’m hoping it will continue to move downwards.
Take profit is green line (82 pips), and stop loss is red line (57 pips), reward to risk ratio is 0.5%.
Stochastics is showing overbought, and MACD is showing signs of downward movement.
I manually closed this trade when I started seeing a “support” at the blue triangle. True enough it moved upwards, away from my take profit. But after a few days, it went straight towards my take profit. But still this trade gave me 0.36% of funds.
There seems to be a general uptrend on the daily, as indicated by the blue line. My take profit is green line (94 pips), and stop loss is red line (48 pips), reward to risk ratio is 1.96:1.
This trade met a stop loss, simply because I did not put enough room for movement!
After hitting my stop loss at the red line, it proceeded moving upwards towards my take profit. aaarrgggghh…
There seems to be a sign of up trend as signified by the diagonal purple line.
stop loss is red line (72 pips) and take profit is green line (128 pips), with a reward to risk ratio of 1.78:1. I’m still not comfortable to risking 1% , so I’m still on 0.5% now. Although I’m guessing after this trade becomes profitable,I’ll try going for 1% risks.
Stochastics is showing both oversold at the daily and 4H time frame when I made this trade.
There seems to be an upward trend, and on the 4H time frame, there seems to be a support on the dashed purple line. I have set my stop loss slightly below that support.
Stochastics on the 4H time frame is suggesting oversold.
Red line is stop loss (77 pips), take profit is green line (141 pips), reward to risk ratio is 1.83:1. I am also risking 0.5%.
I have previously set a limit order, and it got triggered.
Here is my trade 16, a sell on CADCHF.
I have set the entry slightly below the resistance (dashed blue line). Stop loss is red line (102 pips) and Take profit is green line (147 pips), reward to risk ratio of 1.44:1. I’m still putting in a 0.5% risk on this trade.
Stochastics is showing oversold, and MACD shows signs of downward movement.
If I had put in enough stop loss (put beyond the highs on the left) this trade should still be in. Well anyway, the stop loss is already above 100 pips, so I didn’t think it will still go up.
I’m risking 1% on this trade. I guess it’s time I started risking 1% on my trades. Or else I won’t be able to move from my negative gains.
EDIT:
Since this trade is up by 150 pips, I have moved the stop loss to entry. So this is a risk-free trade.
EDIT:
I manually closed this trade at 160 pips, and it gave me a fund of 1.18%.
I chose to manually close it because of a seeming resistance at the purple dashed line. Though after I closed it, prices went past that line, then went as close to my take profit. But anyway, I’m still happy with the 1.18% I got
Here is my trade 3 for May 2013, a sell on NZDCAD.
It seems to be the start of a downward movement. Stochastics in the 4H chart shows a possibility of downward movement.
Take profit is green line (52 pips) and stop loss is red line (38 pips), reward to risk ratio is 1.37:1. I’m just putting in 0.5% risk on this trade because my stop loss is below 50 pips. I’m not too confident to risk more than 0.5% on this one.
Here is my trade 4 for May 2013, a sell on EURCHF.
I’m thinking prices will go down, so I put a stop loss slightly above the recent high, the red line (91 pips) and put a take profit, green line (91 pips), with a reward to risk ratio of 1.9:1
I am risking 1% on this trade. Like what I have said in my previous post, I should start risking 1%. Anyway, the stop loss is much much higher than 50 pips.
I remember mentioning previously that I won’t risk 1% on a trade unless it has a stop loss of greater than 100 pips. Now my strategy is: if the trade is greater than 50 pip stop loss, I risk 1%; 0.5% risk for less than 50pip stop loss
anybody can share his opinion on this? How do you set your stop loss?
Here is my trade 5 for May 2013, a sell on USDJPY.
There seems to be a resistance slightly below the red line (my 106 pip stop loss), Stochastics is showing overbought, and MACD shows a possibility of downward movement. Take profit is the green line (142 pips), reward to risk ratio is 1.34:1.
There seems to be a wedge forming (shown in the daily time frame) as indicated by the yellow lines. But before hitting the yellow line, I was thinking prices will still move a bit downwards. So taking the cue of the downward purple line, I made a sell.
take profit is green line (59 pips), stop loss is red line ( 44 pips). My entry was at the white line.
There seems to be a general upward trend. I waited for retracement, then entered the trade.
Stop loss is red line (51 pips), take profit is green line (80 pips), reward to risk ratio is 1.5:1. Risk is 1%. I’m starting to increase my risk, as I have said in my previous post, trades with stop loss of greater than 50 pips, will have a risk of 1%.
The trend seems to be pointing towards the previous peak (dashed blue line), but before going there, there seems to be a retracement. I’m hoping prices will continue to move upwards.
stop loss is red line (80 pips), take profit is green line (95 pips), reward to risk ratio is 1.19:1, risk is 1%.
There seems to be a general downtrend and it’s about to hit a support (yellow horizontal line). Before it hits that yellow line, I’m making a sell trade.
Stop loss is red line (42 pips), take profit is green line (58 pips), reward to risk ratio is 1.38:1, risk is 0.75 % since stop loss is less than 50 pips.
EDIT:
This trade met a stop loss, giving me a fund of -0.75%. I guess I entered this trade too soon. I should have waited for prices to fully retrace before going for a sell.
