Nice trade Sharebazar (aud/nzd), I just look back for analyzing it and I see that my red line is just above your entry point. So I should have taken this trade, don’t no why I missed it It looks like you did it completely by the book.
About the 216 pips on the copper trade. As I understand you opened 2 positions by 50/50 risk So average it is the same as 108 pips with full risk? I mean did copper move 216 pips on 1 position or +/- 108? Anyway it is a very good result and it shows that this method is working for other instruments as well, my respect for making this step.
Any game plan this week? What do you think of gold? Price form a bullish engulfing candle on the weekly TF last week, and it seems like it is sitting on a valid support. My take would be to wait for price to come near 1172.47 and do a long.
Another pair would be EN, but not as confident on this pair though as the larger trend for this pair is sell. Main reason to buy for this pair is solely bcos of the daily TF that it for a pullback pin bar on daily chart. Will wait for price to retrace to 1.42330 & do a buy if there is signal.
No plan yet, hopefully I will do some research today. Gold and EN is ok but it all depends how it react at those price, I will give another day to see the market.
SL at 1 % about 28 pips
position size 0.2 lot
tp 68 pips = profit > 2%
demo account 5122 euro = 122 euro profit
I am to lazy to keep a trading journal So by doing it here I will be more serious at least until I have a loosing trade
Sharebasar I can stay with the 1% rule for SL and then my risk will be 51 euro for the next trade.
But I know you use a bigger risk over the profit you have made For example I take 10 % of the 122 = 12 euro
Now my risk will be 50 + 12 = 62 euro for the next trade
Well done TC, Just keep risk low as possible in any trade because no one can say for sure that market will hit TP in every trade.
One key step you can take is to keep the risk at 1% in every trade and then increase your position when you are in profitable trade, like adding to your winning trade.
Should have taken profit at the low, got greedy and I’m now watching. Not mastery. But if it breaks again, which it looks like it may… I’ll be back on track.
