Dan wrote:Bad luck and bad trading on the entry t/f's I guess.
First negative week for a while.
Have a look at Withnails post above mate
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Dan wrote:Bad luck and bad trading on the entry t/f's I guess.
First negative week for a while.
seacap wrote:
"... In this case you need a big move to profit because your SL is large in terms of pips.
So if we are short from that 130.00 daily/weekly extreme, where do we close our position? Should we close it ang go long from this new 126.5 low extreme? Or should we leave our short in hope of move to 125?..."
MightyOne wrote:seacap wrote:
"... In this case you need a big move to profit because your SL is large in terms of pips.
So if we are short from that 130.00 daily/weekly extreme, where do we close our position? Should we close it ang go long from this new 126.5 low extreme? Or should we leave our short in hope of move to 125?..."
The extreme at which your stop is placed is the period that you are trading.
You don't need pips more than you need a good position and larger lot size; position is your measure of safety and size is what makes money.
When you trade short term charts, you should trade about 50% larger and aim to take profits quickly.
When you have good position then you should focus on accumulation where your position naturally trails the extremes as you add to your lot size.
Don't worry about risk reward ratios as maxing out your lot size takes care of that automatically.