eur/cad trade with a 36 pips loss… the market went up gave around 30 pips profit and went back again. crazy…
But that should not have hit your Stop? Price is currently hitting its head on a Fib level, but it is still a valid setup, with a clear run up to around 1.3980 if it clears the current congestion. I thought about taking this one yesterday but opted for an alternative in the end.
I agree that the market is choppier than usual at the moment. I have temporarily added one to the number of criteria I look for to enter a trade, hoping that that sifts out some of the setups that are more vulnerable to the current spikes. Too early to tell if it will have much impact, but it has got to help!
i know price could not hit the stop. but as insiders used to do, they take advantage of the important market news to hunt traders stop loss. and this is what happened, they took people’s stop out, and then made the market move in the previous direction. I was suspecting that, so i took a small loss, in order to re enter the trade later…i lost 1/3 of my position on this trade…
good to ask Simon
no good set up today
The Monday after NFP is often not great, particularly in the morning. I liked a Short on USD/CHF last Thursday, but stayed out as it was NFP. There is a chance that that sets up again.
Yes, better to limit the losses and ramp up the wins. I just don’t trade NFP, too many spikes and variables for me. I took a day off and mowed the lawn instead. It’s all glamour!
I’m also looking at EUR/CHF for this evening, potentially, if it closes as a high test on the Daily chart. That would be third touch on a falling trendline as well as rejection of a horizontal line of resistance around 1.3210 that has held previously (2nd December and 11th February), so there could be potential to short it towards the support level around 1.2424. If lots of things go in our favour that would be a 6:1 or so trade, although I have not done the maths. There are a few hurdles along the way, so am not getting too excited yet, though!
ok Simon, i understand. happy you are waiting for a good set up. i know the coming weeks will be great
tonight, i will buy eur/cad at 1.3757 sl=1.3660 tp1=1.3800 tp2=1.3827
buy eur/cad at 1.3733 sl 1.3646 tp1 1.3800 tp2= 1.3850
i cancelled previous order
now that the eur/cad trade is moving in my favor, i will let it run… up 17 pips for now. i think by tomorrow, we will have a nice move
i’m keeping my trades open… the signal is still valid
i lost the gbp/chf, but my eur/cad trade is going good…i’m keeping it.
i will buy again eur/cad at 1.3851 sl=1.3783 tp1=1.3960 tp2=1.4060
buy aud/nzd at 1.3520 sl=1.3400 tp1= 1.3720 tp2=1.3900
i just closed the aud.nzd trade… it looks like it was a false break
i will enter another trade on eur/cad at 1.3828 sl 1.3783 and tp=1.3960
regarding the aud/nzd, i know this pair will go up, but i closed it to be more confortable
i lost the eur/cad trade, that’s the game. i’m still looking at set up
the key is to keep your losses very low. i took a full loss on eur/cad, and 1/3 loss on aud.nzd…but i will make all them back…the trade i took last week is still running in the positive zone, and i moved my stop to break even…
buy aud/cad at 1.0055 sl=0.9992 tp1=1.0092 tp2=1.0175
buy eur/chf at 1.3055 sl=1.2922 tp1=1.3180 tp2=1.3400
my aud/cad is going well. i will keep it. i lost the aud/nzd trade, but this trade should not be triggered. i did all the analysis on metatrader, and went to put the order on my account. the thing is metatrader has 8 pips less than the price of my broker… i just discovered that .that’s why i lost that trade. iknow what to do next time…
i will buy the eur/chf at 1.3031 sl=1.2922 tp1=1.3200 tp2=1.3400
buy gbp/usd at 1.6340 sl=1.6217 tp1=1.6380 tp2=1.6550
buy aud/usd at 1.0500 sl=1.0379 tp1=1.0570 tp2=1.0630
buy eur/yen at 122.07 sl=120.04 tp1=123.00 tp2=124.00