Starting my signals

Trading Discussion
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[B]Edit: I will no longer be updating this thread, tried deleting it but couldn’t find the option. If any moderators could do so, please do. Thank you[/B]

Enjoy :slight_smile:

First day recap:

AUDNZD —> SL hit -42 pips
AUDUSD —> +100 pips
GBPAUD —> +290 pips

Overall score: +350 pips

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GBPAUD

BUY between 2.105 - 2.1104

SL 2.099
TP 2.1255

Move SL to entry when price moves +30 pips in favor

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AUDNZD

SELL between 1.119 - 1.1213

SL 1.1255
TP 1.1121

Move SL to entry when price moves +20 pips in favor

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AUDUSD

SELL between 0.74 - 0.7415

SL 0.7430
TP 0.7350

Move SL to entry when price moves +20 pips in favor

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We are already +50 pips on the GBPAUD trade

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I did the same thing - it’s a good way (and a good time) to start.

There’s nothing at all wrong with a R:R ratio of 1:1 if your win-rate is high enough; don’t ever allow yourself to be dissuaded by people saying they’ll only trade if it’s 2:1 or higher (which some might)!

I used to do this, but have gradually changed, for most of my trading, to dividing it into thirds and closing the first two-thirds at even less than 1:1 (often at half the SL-distance, plus a pip, to cover the last third and make sure there’s no overall loss on the trade), and letting the last third run. It makes the figures more complicated to work out, because in addition to “clear wins” and “clear losses” you have some (perhaps many) trades which make only a pip or two, but it also works very well for me, to control and manage risk, by minimising losing runs and losing patches, which is of course very relevant to position-sizing.

Good luck with these! :slight_smile:

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Thank you for the feedback, I agree that’s a great tactic to divide into smaller positions and average out the trades. I have started doing that too but my problem is that my emotion comes into play 95% of the time and end up closing all positions early thinking the price will switch against me. But hopefully this thread will help me stick to my plan.

All the best :slight_smile:

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Stop Loss hit

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We’re at +26 pips so far, move SL to entry and keep going

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[QUOTE=“zizoforex17;714706”] We’re at +26 pips so far, move SL to entry and keep going[/QUOTE]

Now AUDUSD +65 pips

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First day recap:

AUDNZD —> SL hit -42 pips
AUDUSD —> +100 pips
GBPAUD —> +290 pips

Overall score: +350 pips

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Delete thread