1.5% (compound) per week for say, 30 weeks trading in the year? What will you account look like after that?
You can take this away: you were correct AND profitable.
Don’t worry about all the pips you’ve “lost” or could of had. If you do that, you’re going to struggle! It is completely natural to think like that, everyone does. It doesnt happen to often that you will have a perfect exit from a trade… I was talking to Tansen about this last night. Its a difficult thing to gauge! As ICT says, within about 20 pips of the “top” or “bottom” and you’re doing well!
2 trades, 1 Win @ 4.5% on a Fiber short and 1 Loss on a Fiber short (-0.5%) and one missed order, had a limit to sell the Fiber at 1.3400 but it didn’t get taken, that was a scalp.
I agree with Johnny here, If I could guarantee 1.5% per week, I’d be trading full time so be happy with the % gain as one day that could be all you need.
Should be more on a choppy week, you made money even though there was no clear directional bias.
Off to watch the livestream now.
idk about everyone else but here’s how my trading goes. I start my analysis decide “price is gonna go here”. then i start seeing other signals and i get scared im gonna miss the move so i enter at market. get stopped out only to see price go where i had originally anticipated. so from now on i will not enter at market. and i will not change my original position even if it means missing a move.
I’ve seen big advancements but still a long way to go.
Agree, I’ve have on numerous occassions had orders triggered early prior to for EG, LO and then as they have stalled prior to the “move” and exited them only to see price move in the intended direction. Now I set the limit order and switch it off until it’s stopped out or moves in my intended direction and then I can track it from there.
Looking at the Fiber we see another week with a relatively small range. Although the calendar indicates more liquidity in Cable than Fiber Friday, I’m thinking Fiber long on a 50 - 62% retracement of the Thursday candle, so entry around 1.3330-1.3340, with a SL around 1.3295-1.3310, and profit around 1.3410. I’m just paper trading this, but am interested in any thoughts about this trade idea.
I don’t know yet, and when I do it will probably be useless anyway
It’s this Low Volume thing that’s bugging, when the volume drops significantly on the 1Hr or 15m, the market moves less than 20 PIPS one way, and off it goes the other way, it’s too significant to ignore, but then again can I make use of it? Maybe just for entry timing.
I’m thinking it could come back down to Asia High, and then continue going upwards.
But then again I would like it to stay above 1.34 just to be sure it is bullish
Lol sounds amusing,
I’m actually short on the cable, sell limit @ 1.58012
62% OTE
Divergence (you guys are gonna be sick of this word with me around)
Old low on Jan 23 which occurred @ London Open
So I’ll keep an eye on price action & see how it pans out
For a long you could look at it as resistance turned support at 1.3400, big fig, hidden OTE, we’ve broken yesterday’s highs, a gap up to 1.3500, very aggressive though, but so is the market, it’s not the lowest of risks.