I cant believe it. i have had 2 trades on the cable running for 2-3 days. Ive been through the PIP school and been using Fibonacci and Stoch and Macd graphs. really got these down to a tee and decided to go long on 0.10 and another long 0.50 but set more spread on the s/l and t/p on the lower risk trade. The market was great. slowly making progress on the upward trend then BOSH 45 pips down like that taking out both S/L and ruining my day. What could i have done? only explanation for me is to of checked in the quicker time frames sooner as that would of given me the indication of the drop. I was just solidly in hour view. DAMN.
This things happens all the time. Get used to it.
Sorry for your loss, losing some trades are part of this business, but if you check the 4H chart and above you can see that your trade was against the daily trend…
I was selling rallies as the price climbed…
Always trade with the trend for 1 and also make sure if you’re trading on the lower time frames such as 5,15 and 30 minute that you dont have any trades open during the news. If you’re trading on 1HR or higher news doesnt effect many trades.
[I]Trend is your Friend[/I], no matter if you go with or against it.
It depends upon the style of your trading…At least u can use trailing stop if u don’t want to see your profitable trade turning into losing one.
It happens to everyone. If you are concerned you always have the option of raising the stop to the entry or closing parts of open trade