Please don't misunderstand me. I am not saying that you are incorrectly calling your trades 'hit all targets' when they haven't.
It's just depending on how one sets up entry, you may be able to call a trade filled, but your clients may not, depending on their risk appetite.
The example I gave was a really good one where your entry range was 1.3450 - 1.3500 and the trade was 'filled' because price spiked 1.3451. The Stop Loss was 1.3530. I personally didn't want 80 pips to my stop so I set my entry price higher and missed the trade.
Because I am in Australia and a lot of the action happens during US session, I regularly have to set and forget trades rather than wait for a technical signal. With the choppiness, over the last few months, I have found it very hard to pick the right trades, so am trying to maximize Risk Reward ratio, by waiting until price nears the end of the range closest to the Stop Loss level before entering. I'm also learning how to judge trades by confidence level and only take the ones with a confluence of factors.
Now I know you are very likely say no to this, but have you considered adding a kind of confidence indicator to your trades, or is that 'a can of worms' that you don't want to go near?
Regards
Alan
I don't know what the answer is - At one point I set e
No, I didn't take it. I was watching levels about 11pm Melbourne time last night (NY open) CAD was 1.012 and EUR about 1.382. Anyway, it all looked bullish and risk on at the time so I passed, which was correct at the time as USD went down for about an hour after I went to bed. Sometimes the time diff really p...s me off! Should have gone with it but have been burnt a few times recently with overnight moves.
Anyway, not doing too well with AL's premium trades, keep taking the stoppers and missing the 'hit all targets'.... am back to my account opening levels when I was 25% up about a month ago.
Am trying to decide whether to stick with day trading or move into longer term swing.
@jacek I'm looking at a longer term trade in USDCAD as well. Being no expert, I have read that there may be a couple of pullbacks to 1.0135 before 1.04 and beyond. Support at 1.0045. Strategy could be to wait for pullback and buy around 1.0135.
Was a good Premium trade last night - offset the EUR trade that stopped again ..... 3 out of the last 4 EURs stopped out.... sigh ;(
Try publishing this in the UK weekend papers: Traders bet BankofEngland will raise rates to 6.25% --highest since 1… https://t.co/GWXrTEAk4R(10 months ago)
Poor start to a slow market day as Ezone PMIs disappoint. Im still keeping an eye on the rare (-2%) USD-GOLD combo,… https://t.co/UyRzWsRbs7(10 months ago)
-5% YTD is not good, while -7% from the year highs can be tough. Gold traders have their eyes fixated on this for n… https://t.co/NV5UMKsfNo(10 months ago)
ما وراء هبوط الدولار مع الذهب و من منهما يتمكن الارتداد؟
موعدنا الآن في غرفة شركة إكس أم لجلسة الأسواق
https://t.co/Y7tD0RxCS2
@XM_COM (10 months ago)
Jobless claims > 300k before next FOMC meeting would be ideal for Fed to make up for any CPI upside surprise (10 months ago)
"Cook & Eat at Home" scheme may come next to defeat UK inflation... (10 months ago)
Earlier in the week gold selloff was attributed to smaller than exp China EASING. Metal is now holding v well despi… https://t.co/ZW9cmXTPWW(10 months ago)
Dax 200 DMA Deviation
You remember we went short Dax40 in late March based on the 13% 200 DMA extension, which gave us at least a 500-pt gain.
View Hot-Chart..
Please don't misunderstand me. I am not saying that you are incorrectly calling your trades 'hit all targets' when they haven't.
It's just depending on how one sets up entry, you may be able to call a trade filled, but your clients may not, depending on their risk appetite.
The example I gave was a really good one where your entry range was 1.3450 - 1.3500 and the trade was 'filled' because price spiked 1.3451. The Stop Loss was 1.3530. I personally didn't want 80 pips to my stop so I set my entry price higher and missed the trade.
Because I am in Australia and a lot of the action happens during US session, I regularly have to set and forget trades rather than wait for a technical signal. With the choppiness, over the last few months, I have found it very hard to pick the right trades, so am trying to maximize Risk Reward ratio, by waiting until price nears the end of the range closest to the Stop Loss level before entering. I'm also learning how to judge trades by confidence level and only take the ones with a confluence of factors.
Now I know you are very likely say no to this, but have you considered adding a kind of confidence indicator to your trades, or is that 'a can of worms' that you don't want to go near?
Regards
Alan
I don't know what the answer is - At one point I set e
5 waves down to 1.0047, so far only 1 wave up to 1.0180, so maybe brief pullback then up.....
Anyway, not doing too well with AL's premium trades, keep taking the stoppers and missing the 'hit all targets'.... am back to my account opening levels when I was 25% up about a month ago.
Am trying to decide whether to stick with day trading or move into longer term swing.
Was a good Premium trade last night - offset the EUR trade that stopped again ..... 3 out of the last 4 EURs stopped out.... sigh ;(
In today's premium, which order would you execute the short EURUSD trades, or does it not matter?
Since EURUSD has recovered a little I've put in an order for the 1st trade. So would I execute the second one once price has dropped to that level?
Alan