pablo101 wrote:Not a higher TF zliner but playing out support area, got stopped out with a really tiny stop loss of 6 pips.
Anyone here, would you widen your stop here to play for a longer time trade?
Hey in the past I was in similar trades like that before.
I "think" the reason why this happens is because we enter too late because we think we are missing an opportunity. The ideal entry would of been here.
What you see is the difference between a M15 trade and a H1 trade!
you have to handle it differently. When you can not see clearly which frame you are trading then you have to take profit when there is!!!
entry made on zeroline of the M15 chart be happy with about 20 could be less or more.
Trade from an H1 is most of the times more pips and from the H4 i don't have to tell you i think.
Trading is like cycling, first you need to learn how.
Two options: you either lose or win!
closing in on a daily ZL on GBPUSD at 1.60 .. waiting for an opportunity to go long.. so far the day(week) hasn't produced many chances, at least at my skill level
spa wrote:closing in on a daily ZL on GBPUSD at 1.60 .. waiting for an opportunity to go long.. so far the day(week) hasn't produced many chances, at least at my skill level
Picture I took yesterday (sorry for the size)
There is a demand area coming up. If that doesn't hold, the next one will be the bottom one. Then the next one will be from 1.5234-ish down.
Looking on daily, it is at the bottom of the trading range it has been in since mid May 09.
There's no business like [strike]show[/strike] covid19 business.
pablo101 wrote:Not a higher TF zliner but playing out support area, got stopped out with a really tiny stop loss of 6 pips.
Anyone here, would you widen your stop here to play for a longer time trade?
NO, never widen your stop!!! Why didn't you take your profit! The semafor points out extremes. Take the profit when a new number appears and try to get back in on a better price, now you ended up with a loss! It isn't possible to make big runs all the times especially when you try to trade every hour off the day!
Thanks Dragon, I see. I was going to close for BE but I was looking the other way. Semas are a hit and miss and not very useful, no?
pablo101 wrote:Not a higher TF zliner but playing out support area, got stopped out with a really tiny stop loss of 6 pips.
Anyone here, would you widen your stop here to play for a longer time trade?
Hey in the past I was in similar trades like that before.
I "think" the reason why this happens is because we enter too late because we think we are missing an opportunity. The ideal entry would of been here.
What you see is the difference between a M15 trade and a H1 trade! you have to handle it differently. When you can not see clearly which frame you are trading then you have to take profit when there is!!!
entry made on zeroline of the M15 chart be happy with about 20 could be less or more. Trade from an H1 is most of the times more pips and from the H4 i don't have to tell you i think.
I always try to trade the HTF such as H4 but I understand looking at H1 can be important too.
So when looking at the charts every hour to see if there is a trade, you would see if H1 BO with momo then next bar wicked H1 or higher zline/zone then cross over to 15 min chart for a trade, yes? But you'll still keep a max SL of 20 pips and target is higher? I think thats what I try to do in my last trade.
spa wrote:closing in on a daily ZL on GBPUSD at 1.60 .. waiting for an opportunity to go long.. so far the day(week) hasn't produced many chances, at least at my skill level
Getting close to the hols, I guess this is normal liquidity. No idea.
pablo101 wrote:Not a higher TF zliner but playing out support area, got stopped out with a really tiny stop loss of 6 pips.
Anyone here, would you widen your stop here to play for a longer time trade?
NO, never widen your stop!!! Why didn't you take your profit! The semafor points out extremes. Take the profit when a new number appears and try to get back in on a better price, now you ended up with a loss! It isn't possible to make big runs all the times especially when you try to trade every hour off the day!
Thanks Dragon, I see. I was going to close for BE but I was looking the other way. Semas are a hit and miss and not very useful, no?
Depends on what you expect from the semas. If you had reacted on the nr2 you could have some profit, now you don't!
If you use indi's on your screen then you have to know how they work or they are there for nothing and you can delete it.
Trading is like cycling, first you need to learn how.
Two options: you either lose or win!
