I am not new at Forex but I have a problem about entering the trade.
So my system based on technical indicator’s and my winning ratio is >80%. My biggest problem is, that most time I do not enter the trade because 2-5 pips before my pending order will be execute, the price bounce.
So that is the reason I missed 50% of my trades. So what can you advice to do?
Maybe split the lot size and enter in a range? For example this week EUR/CAD was bouncing from 1.3131 but my enterzone was from 1.3120-1.3125, this trade ends up in a profit of 100 pips. Next example is USD/CHF Trade on 7th of May, short enterzone was from 0.9440 - 0.9445, and the price bouncing from ~ 0.9435.
So as you can see, that this is very angry to miss trade because of few pips. Maybe someone has an solution for me to fix this angry problem.
It’s possible you’re not taking into account the spread when calculating your entry price. Most forex charts will show you the bid price, which is the price you can sell at. But if you have an entry order to buy, then it’s the ask price that will determine when your order can be filled. Because of the spread, the ask price is always slightly higher than the bid price you see on the chart. On the FXCM Trading Station, there is a way to view the ask price, which could help you in calculating your entry price levels. You can do that by clicking on the “A” button in the toolbar along the top of the chart window as shown below.
Now that your problem is only missing on 2-3 pips allow the trade for upto 5 pips deviation so that the order is taken. Try to take up the best entry level possible and in your case more than 80% winning probability is very good.
Its a reason why forex is so difficult. For instance it might be ‘obvious’ to buy EURUSD at 1.3000, with a stop loss at 1.2980. But sometimes it bounces at 1.3005. Sometimes it bounces at 1.3010. Sometimes it bounces at 1.3000, and sometimes at 1.2980. It has still bounced at the same ‘area’ but by a few pips you miss 2, and lose 1 from a ‘perfect set up.’
