Hi guys,I always encounter a winning trade initially but suddenly the trends is reversing against me and causing me to lose my trade. How can we know that we are not in the ride anymore and how can we identify when the trend is start to reverse?
Thanks.
Hi Rob,
Candlesticks are a popular way to identify possible reversals through charts: Elementary - School of Pipsology - BabyPips.com
It also helps to have in mind the key support and resistance levels in advance. If you are in a short (long) position, pay careful attention to how the market behaves as the price approaches key support (resistance) with an eye to taking profits possibly.
You mentioned you “always encounter a winning trade initially”. How do you decide when to enter a trade? What time frames are you looking at? Did you have a profit target in mind beforehand? These details could point to ways you may look to exit your trades more effectively.
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I love reverse… Lol I hunt for reverse, tat what I always do. If u search my post. I hv post of how to hunt for reverse. With some photo on it
Sar is the best for hunting reverse n pull back. Pullback can help u earn few pips. It can b use as stand alone. Also can b use with ichimoku n bb. Always look at 10m chart for trigger. Higher timeframe is the main concern. There no fix which higher timeframe. That the fun part. U hv to look at all TF. Example on a 10m the Sar is above the price. N meaning price is going down. But… But… Alot of trader hv this concept is that Sar above price, they will sell. Cos price going down… Haha. That how they kill themselves. Actual fact is when… Sar above the price n far away from it ya. It will b going down. But when Sar is near the price. It will pull bk or totally reverse or even a breakout… So when Sar far from price. Don’t trade. When it getting near, than u go to higher TF example 8h Sar below the price. 4h Sar also below the price. So it means… When price hit the Sar of 8h TF it will pull back or reversed… When u shift back to 10m… U will notice the price is going down n Sar is above it n it v near the price. So means it will reverse anytime. Your trigger will b once it hit the 8h Sar, place your trade. N earn the pips… Hope u understand what I’m talking. U need to really test on real time than u will know what I’m talking. Don’t back test. Cos back test is always perfect.
Oh ya… Just to add in. In order for u to perfectly hunt for reverse change your candle chart to Heikin candle chart. It gv u a super clear view of the price journey. N filter out all the noise which will make u n hv wrong judgment.
Hi agree with this post because that is what i do. In most cases it works great for me and i have no problem of pulling the trigger if things changes on me . My thing is ( i can always go back in ), i try very hard NOT to get emotional attached to the trade.
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Agreed, emotions… Emotions… Emotions… it the killing weapon… It easy say than done. But at least u try to control. When I start trading n price breakout… I get scare… Quickly place my trade… Who knows it go up even higher n I got stopped… Now I control. Just relax when it breakout or break down. Go to higher TF see what the situation is than decide. Don b too eagle to place trade. Just relax, if it pass the good timing it ok… Wait for the nx wave. There always chance. Just scare u don’t hv money to trade, not scare no chance to trade.