How would you handle this?

Beginner Questions
1

I setup my mt4 demo with the Cowabunga indicators, and the MTF_HAS setup. CFH/JPY I found the 5/10 EMA cross with all but the MACD in agreement. I suffered through to gain about 10 pips. Once my t/p was hit, it shot down even further. MTF_HAS kicked was in agreement for the 4 time frames, yet RSI was approaching zero, and slow stochastics where showing oversold. These conditions where mirrored with EUR/USD as well.

I stopped at about 10pips, but could’ve made another 40. Do you jump in with a second lot even though at that point everything is showing oversold, by considering your initial entry indicators and jump in based on that? Or do you just let it go since everything is showing oversold?

All the while I’m looking for longer term positions. I’ll still watch to see how things play out, but I’m just curious what some of the more experienced folks would have done and where stops might have been set.

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2

I think 2 things first a missed oportunity is a missed opportunity dnt be greedy coz it will cost you big time as a trader.

Second you can reason long or short at the same time when you have 20 different indicators. the older I get the more I realize simple is key. I personaly like price action. Ive been on this forum a while now and ive tried just about everything. If you keep it simple I think in the long run you will be more successful.

If you are trying 2 completely differnt trade ideas at once maybe try manageing them as 2 seperate trades and think of it as having more options.

just my opinion :slight_smile:

3

I’m actually trying a out a few different systems along with watching candlesticks. I’m trying to see how the different systems converge as far as giving signals. I won’t be using all of those indicators when I trade live.