been 7 hours in this trade, BE stop got missed by 1.5 pips. took half at 30 pips and the rest got taken out at 15 pips my original risk. i was thinking it was going to at least mid point between s1 and s2.
I would say conditions are not for newbies to trade. hours spent to get just few pips. in 2008-2010 it would garner 100 pips. I also wonder how anybody can trade form 1 min now. I think it might cause permanent insanity.
Had messy night. 1 BE, few 4-5 pips losses and 1 full size loser and finally caught a big short made up for losers and added some. PA was very messy. i was bullish most of the time. The problem was that I am trading form pivots and today daily, weekly and monthly pivots are within 20 pips from each other. no wonder PA was so messy until the last moment.
These are difficult conditions to trade!! This month may be the worst month I ever saw in PA. I think it's better to stay at the sidelines and only trade the big opportunities and wait for september, the problem is that i leave on vacation that month! Terrible!! :D
As you can see I made some small losses in August, averaging a loss of 0.4% so that's still acceptable, I will be looking for pairs with a very strong trend to take some big positions, i want to make some percentages, maybe I will even risk 1% on a trade
Yes, it is whipsaw. Got bad luck to start trading beginning of July but gotta start some time. The thing is I am trying to get on trend in the beginning the moment i have signal, so I have to take signals. I did not take a number of signals before still on demo resulting in missing few big trends. Now let's imagine I get few big runners with r:r 5/1- to 1 of risk and it is pretty possible. pips wise, gbp/aud and eur/aud trades would bring 8:1 and 10:1 r:r. and I did not take aud/chf long and few others. so, the picture is clear. few such trades can make a lot of % and I have to take all signals whether bad or good time cause I have no idea when trend starts. but I can assure, once trends start I will ride them. You are looking for established trends but I cannot afford to miss ones, i need to take all signals. ia m going on vacation in September too but will be entering trades even during vacation. no way I can miss trends.
Note that I am cutting size per each trade as I am in DD. My trade size is now directly related to current balance. I am getting now what it means to go through DD period but I have no doubt trends will resume and I will get on them.
one trade today and to bed. I am in front of PC every day but some Fridays at 1:30 a.m. EST. Was targeting 1.2400 are around R2, but the price did not even reach R1. I knew it was going down, but was content with my win. double of risk. overall hard month as there is no big runs at London time when trade.
actually that was a good Monday 😀 I was long. closed half for 32 pips and another half got stopped for 16 pips. risk was 15 pips. Expected more but sorry no. I only want to say when this thing breaks out there will be a long run either up or down.
Chikot posted: actually that was a good Monday 😀 I was long. closed half for 32 pips and another half got stopped for 16 pips. risk was 15 pips. Expected more but sorry no. I only want to say when this thing breaks out there will be a long run either up or down.
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