xmess7 wrote:Sweet Pip wrote:Good start for me! I bumped up to the 15min...just for the heck of it LOL ...set a pending sell stop order to trigger at 1.3549 which was a couple of pips below the open price, and H1 & D1 would also both be red at that point.
I set the t/p to 1.3517 which was a target line I have...a camarilla line. I didn't get a pic but as you can see in the history, it triggered and hit t/p for +32 pips.
So I tried another trade so I could get a pic this time.
Set a pending sell stop at 1.3520 which was 4 pips below the go short line of 1.3524 Both H1 & D1 red.
You can also see the up wave prior to that...the H1 was green then. Then red bar at 1.3533 was the start of the hour. When price went down from there, that's when h1 turns red, matching D1.
The order triggered right away. I had initially set the t/p for more, but since I was watching it, I closed once I saw it stalling around 1.3506 for +14 pips (I chickened out..LOL)
So now I'm up +46 pips
OK OK, I lost 61% of my account just a while ago. Like I had mentioned earlier I had hit the wrong button. I was on my way to meet my target pips for the day, but alas I could not recoup.
I attempted to wait on the SELLS to fall since the TREND on the higher TFs was showing DOWN. But to no avail, I looked at the negative pips (-190 to be exact) and my account balance and said, it stops here, tomorrow will be another day! CLICK, and my account when down 61%.
But you know, I feel good, cause the error was on me not on the method we have learned. I SAW price moving and took the right moment to enter!!! The only thing is that I paid no attention to what I was doing when I hit the ENTER BUY (instead of SELL) to the GBPUSD. LOL.
If I recall my stats I think the odds are in my favor now. The next trade should be a real good one.
Having too much fun
It is like youself said. You saw it but pressed the wrong button.
You can hedge immediately if it can with your platform.
Otherwise close immediately and enter in the right directions, your losses will be much smaller