I entered big time with the highest lot the account could hold as soon as price started to move fast on the Tick Indicator.
genlogins, you don't have to shoot with all your ammo on one trade.
You must build a risk management strategy.
Moderator: moderators
genlogins wrote:Well, this week was very disappointment as I am now 96.4% Drawdown.
I am left with just litle money.
I am trading following the signal, that is:
1- When The pop up window indicates for me to go short or long at the price, I enter short or long.
2- Hold it until is 2 pips gain, than move SL to breakeven +0.1.
Most times that does not occur, since price still moving when the pop up window says short/long, and it normally reverses back to the lower/higher price of the M5 indicator.
I cannot figure it out.
I kknow I did already some money trading like this, but it is not working because price most times reverses.
I have a SL of 10 pips.
Any quess where I can improve.
thanks
genlogins wrote:Well, this week was very disappointment as I am now 96.4% Drawdown.
I am left with just litle money.
I am trading following the signal, that is:
1- When The pop up window indicates for me to go short or long at the price, I enter short or long.
2- Hold it until is 2 pips gain, than move SL to breakeven +0.1.
Most times that does not occur, since price still moving when the pop up window says short/long, and it normally reverses back to the lower/higher price of the M5 indicator.
I cannot figure it out.
I kknow I did already some money trading like this, but it is not working because price most times reverses.
I have a SL of 10 pips.
Any quess where I can improve.
thanks
MightyOne wrote:genlogins wrote:Well, this week was very disappointment as I am now 96.4% Drawdown.
I am left with just litle money.
I am trading following the signal, that is:
1- When The pop up window indicates for me to go short or long at the price, I enter short or long.
2- Hold it until is 2 pips gain, than move SL to breakeven +0.1.
Most times that does not occur, since price still moving when the pop up window says short/long, and it normally reverses back to the lower/higher price of the M5 indicator.
I cannot figure it out.
I kknow I did already some money trading like this, but it is not working because price most times reverses.
I have a SL of 10 pips.
Any quess where I can improve.
thanks
The day you learn how to pull information from the chart with your own hands and listen to your own thoughts is the day you begin to learn how to trade.
Try this:
1. Clear you mind of all trading knowledge
2. Scan the chart back and forth for 5 minutes at a time WHILE KEEPING YOUR MIND BLANK.
3. Get up, eat & drink something, watch TV (whatever), Start at 1.
Don't think profit & loss
Don't think strategy
Just look.