Hi @The_Baller! I’ve been following this topic since the beginning and I’m really impressed by your stress-free style of trading. Thank you for sharing it! I have some questions if you don’t mind.
Do you ever manually close a trade with a loss? Or do you always wait until it hits your initial stop-loss? (10% loss).
Do you take into consideration swap charges for each pair? In case you don’t, aren’t you concerned of them piling up against you eroding your trade?
I realized you aren’t trading cable or fiber. Is there a reason for it? Do you have a preference for any major or minor pairs? I guess no exotics?
Finally, how many trades do you open per day and week? Do you have a maximum number of trades open at once?
I really appreciate your help! Forget the haters and keep up this great experiment!
I have done in the past. It’s a bit hit and miss. If the trade is going against you and you feel you don’t want to lose anymore you could just close it manually - but you would have put your stop loss well away from the noise in the first place.
As others have already said here, when they widened their stops they noticed price would go to an area where they used to put their stop previously and then go back in their favour.
You would have to assess this for each trade individually.
Not really no. Based on the position size and the time it usually takes to get moving in your favour, never really had any issues.
Some pairs like cable don’t really respect any technical analysis, especially in the current climate - and I’m not really into watching news and fundamentals either.
I have no real preference, I go thru all the charts at the weekend.
I might have 7-8 trades max open at any given time, not necessarily per day or per week.
Much love - when dogs bark, its hard not to have a little look. It’s more a case of, its the same old dogs barking now.
I’m getting the impression that you don’t try for retracement entries on last week’s candle, to get a better “risk to reward” ratio . . . . but have considered it a better strategy to just enter as close as possible to the close of the last weekly candle?
Less likelihood of missing out on the trade that way I suppose.
Could you create a quick list of your process from initially looking at your charts to point of entering a trade. Perhaps providing some screens as examples!
At the moment it seems we’re fishing for bits of information about what’s going on with your head before you enter the market.
