cosmoe1 wrote:webmail4tom wrote:cosmoe1 wrote:
Not all trades are winners.
in the blue shaded area is a trade I took this morning before going to work.
Two things come to my mind looking at your entry on this one:
1.) Would have been the correct (by the rules) entry at 1.03015, 5 minutes before you decided to go long?
The High of the previous green candle was at 1.03015, the High of the following candle was at 1.03015 as well, so placing a limit order would have been most likely triggered.
2.) Your trade was entered around lunch time. Generally I am suspicious about any signals around this time.
Thanks for posting your trades and thoughts!
I believe it was a valid entry for green rat. you enter long when price within 20 pips of low, red candle close, green candle closes, limit order at highest point of green candle. I always use limit orders. Thanks.
But lets ask the master Tro.
Tro was this a valid entry?
The entry you took was a valid one, but what I tried to point out is that the first valid entry was 2 candles before and so your entry came too late for the 10 pip SL, while the correct entry would have left you with a SL below the lowest low 25 minutes earlier.
Lets see if I can attach a screenshot.