hi there,
can someone explain how i should have traded usdcad, 19 may. i took a long position at the start of the day. it went up 125 pips only to see it dissappear by the end of the day. i am trading on the daily so seeing this kind of candle has me really confused. any comments?
that´s forex;)
i can´t count the times that i was at +200 pips and 15min later i was breack even or with a couple losses.
this is a long run and a one day results doesn´t mean nothing. what really metters is if your exit strat give good results in the long run.
but it really sucks to see the pips going down in front of our eyes:D
Here is the explanation:
You didn´t secure yor profits. Learn how to trail stops.
+1
And don’t use a trailing stop.
There are effective ways to use a hard stop, but still leave a trade room to roam.
Yeah, trailing a stop on a daily chart is a bad idea. The trade will need room to move.
The upwards movement on May 19 stopped almost perfectly on an upper trendline. That line should have been a clue that a long trade was a bad idea… 
The spike above the trendline is from the May 6 stock crash fiasco, and should be ignored in my opinion…
