ok happy pipping
The reason to sell and not buy has a lot to do with the highlighted area, and the big bearish rejection pin bar I’d think…
Another news influenced loss, seriously i hate news. Our last gbpaud is now a loss the ‘CLAIMANT COUNT CHANGE’ came out postive moving our decent gbpaud sell position to a loss.
Gush i hate news.
I wish there was a currency market not affected by news reports. The gbpaud trade sell signal is still valid cos price will likely retrace lower after the economic noise. For this month most of our losses have come from news.
its Seems during news time we will reduce our stops to 0.5% risk. We will do this next time we have a trade close to news time.
i really apologize for the lose, sorry guys its out of my control, one cant control news. Am not happy . Well thats trading.
[QUOTE=“Horlique2;518652”]
i really apologize for the lose, sorry guys its out of my control, one cant control news. Am not happy . Well thats trading.[/QUOTE]
Hi Horlique. No need to apologise. Some you win some you lose - that’s the name of the game. We have had more winners than losers and that’s what counts. It is up to us to do our own homework and then decide if we want to take the risk. You are just pointing us in the right direction and that is what is really making a difference to my trading. Thank you from all of us who are benefitting from your wisdom.
Horlique your a pro price action trader but if you were wise u would now consider no price trading close to big news events
i guess am foolish then cos the signal was posted 12 hours to the news to me thats enough time for the trade to have worked fine.
Well to those who feel am not foolish we will use the 0.5% risk rule as i posted earlier when we have news close by. Happy pipping all.
i really appreciate bro. Thanks
[QUOTE=“Horlique2;518669”]
i guess am foolish then cos the signal was posted 12 hours to the news to me thats enough time for the trade to have worked fine.
Well to those who feel am not foolish we will use the 0.5% risk rule as i posted earlier when we have news close by. Happy pipping all.[/QUOTE]
The 12 hours was during the least volatile market conditions when uk and USA was sleeping. Hey I know u Made this thread not only to help others but to become a bette trader urself so there u go
when us and uk are sleeping others are awake and working too, for the records we have made more home runs(big winning trades) in the asia session than even in the socalled busy ‘‘us/uk markets’’.
am 100% sure if that trade was a winner you wont call me an unwise trader…
Its always very easy to criticize others and find faults in what they are doing but its takes alot to appreciate and show gratitude…
Hello Horlique2.
I am new to forex and I find this thread most effective in understanding how it works. Much more efficient than a webinar!
Keep up !
There will always be people throwing wrenches at things, stay the course your doing fine and most people appreciate you.
Yep, couldn’t agree more. Question on the GBPAUD trade if you don’t mind - I thought I remembered somewhere in one of your posts you saying that you wait for a retrace of the signal bar (50%?) before entering a trade, as you’ll get more value that way and allows for better SL placement - did I remember correctly? if so in this trade you entered straight away at pretty much the bottom of the pin bar and got stopped as a result - when do you decide to do one, or the other please?
the truth is that you cant know for sure the perfect time to use the 50% retracement method; sometimes you may use the 50% retracement method then markets takes off in your prefered direction without you in the move, sometimes u may set the 50% and it works well for the trade,the 50% retracement method is used by most pro-traders based on gut-feel and trading discretion.
The GBpaud was a decent trade if you look at the last 4hours candle before the daily candle close you will notice a very large bearish rejection candle at 1.70000( a strong resistance and psychological point) in line with the down trend on 4 hours. So we sold cos of that eventhore the market did not go our way its was a decent sell setup.
My Good Friend Horlique 2 your response was right on track. You can know for sure when it work out. Please l want you to know, you are doing a great job. Keep the flag flying.
good job mate
thanks alot i appreciate that. Happy pipping.
Hello guys a rejection candle is about to form on eurusd daily chart at key support 1.32400.
Also gbpusd has formed a bearish rejection at the 4 hours chart at 1.55500 a strong resistance and psychological point.
So lets see how the daily chart closes today.
Am optimistic we will have many home runs this month before its ends.
trade 45 buystop at 1.32645 on eurusd
stops= 40pips
targets= 85pips
reason for trade: indecision candle / inside bar at support 1.32400
risk 1% here
sell stop on gbpusd at 1.54891
stops= 45pips
targets= 100pips
reason for trade: bearish candle formed at 4hours chart at near term resistance.
risk 1% here.
please if the gbpusd trade is still in negative close to the news time reduce your stops to reduce loss if news move against our position.