Stops - page 10
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1. Stops as part of the TS taking profit.
2. Stops as a means of avoiding a margin call. So-called force majeure stops.
I have not found any TC that allows to trade on the first type within reasonable limits of profitability.
It's not that simple...
Shall we begin?
Go ahead, everyone's waiting.
What kind of stop is reasonable?
Before we start :)))) I will answer with an example to the question.
Currently looking for an entry point to sell AUDCAD. This is an example of medium to long term non-trend trading. :)
Grounds for entry:
- The trend has been going on for 7 months, gold and its satellite currency AUD are severely overheated,
- 2 days ago it bounced from the all-time high of 1.0200, reached in late October, a double-top TA pattern is coming up,
- A pin bar has formed on the D1 (price action), which has not yet been broken,
- broke through the trend line (white on the screenshot, we have a reversal according to Sperandeo) and practically broke away from it on the other side,
- SL=100pp, the target for the double top is 900pp, the Risk/Reward ratio is 1/9
This is an example of trading not following the trend, but working out the swings, trend reversals. It is not always possible to enter a profitable movement at the first try. As a rule, it is preceded by 1-3 stops with 1% loss from deposit, but 1 profitable trade brings 5-10% profit. The game is worthwhile even if only 5-10 profitable trades are taken during a year. That's more or less how we trade. :) With stops. :))) Slow and lazy, as veterans do. ))) This kind of trading does not bring adrenaline. Only profits, and not the ones that 99% of forex traders go after.
It's the second day of my patience. I have already read the opinions of "pissers", I would very much like to hear from those who are in an "unadopted state" and are able to "pour on for a long time".
This is the second day of my patience. I have already read the opinions of "pissers", I would very much like to hear from those who are in an "unaccepted state" and are able to "piss for a long time".
Not everyone has pissed yet...
Tell me where your stop is and I'll tell you who you are. )))
My stop is 20-30 pips depending on my mood and greed
Profit varies from 40 to 150 pips depending on how long I can stand it and do not look at my terminal screen.
So who am I? Who am i-a-a-a-a-......a!? almost got hoarse...
My stop is 20-30 pips depending on my mood and greed
Profit 40 to 150 pips, depending on how long I can stand it and not look at the terminal screen.
So who am I? Who am I-aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa?!?
Traded dollar/yen in a channel with stops set 30-40pp. red dashes score 2:1. Stops are needed - where they are needed.
You need stops where you need them, not the market.