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Memes are occasionally funny, but we do not want them here during trading hours. Inherently, post memes only on weekends. I barely have any losses and I make 1 - 2 trades a day Took me a whole year to perfect my strategy. I'm a swing trader. From July 25 - August 5, I managed to bank pips and zero losses. I trade on the 1 hour chart. I am looking to trade on the higher time frames, but I'm not sure if it's profitable for this currency.
If you're a dragon rider, please comment below and let me know if you like trading this currency on the higher time frames above 1 hour. I'm also looking to network and find people who are dragon riders. If you are one, leave a comment below and lets be friends: I've been trying to be a dragon rider for awhile now but it ends up just eating my profits. I know your stop loss probably ranges quite a bit on this pair, but if you had to put a number on it, what would you say your average stop loss is?
My stop loss is usually never hit. My stop losses are only emergency stops, they vary, depends on the trade. But they usually don't hit it. It can range from 10 pips or 90 pips. But they would be around 20 - 40 pips on average it really depends. I don't like taking trades close to the end of friday. I like to stay clear of the new week's open. It took me months to master my entire strategy.
I've tried it ALL man: It's all useless for my strategy. What I've found is the simpler your strategy, the better. I don't even use price action. I used to be a price action trader, but honestly, it's not my thing. Don't give up man. I'm only 22 years old.
I proved everyone wrong. Don't give up ever. Just keep mastering your strategy until you see consistent results. Just go back in time and see if your strategy would work. I've been studying it and trading live off and on for 4 years. Have pretty much come to the same conclusion that none of that fancy stuff is necessary and I just need to be more confident in my entries. Only up 1k since I put in any real money 4 months ago. And that mostly came from brexit.
Honestly, all those indicators and fancy stuff is all bs. I have found that: The success for forex is honestly about consistency, sticking to one time frame, sticking to one currency, simplicity and managing your emotions well.
If your entwined in british news i find it a nice to follow because of the local news vs safe haven aspect to it, tends to swing wildy up and down with good and bad news appearing in the uk.
I do really struggle to keep up with the japanese side of the news though and must inprove on that. May i ask some questions as you seem to be doing quite well? Smart question to ask. I obviously use DailyFX and forex factory. So many people overdo news Just keep it simple man.
Watch out for big ones, like non farm, FOMC, bank rates. When the swing appears. Makes my stop loss smaller and profits larger. I don't use trailing stop. I use stop loss. Probably around 20 - 40 pips. My stop is typically never hit. Out of 52 trades, it was hit once, and that was a 90 pip loss because of news. I made 90 pips back on the same day, so I broke even July 29 - 1H. So was the point of this to pretend you know what you're doing after 2 weeks of success or wut.
Also, concerning your analysis, see 2: Keep It Professional No insults or attacks of any kind. Abusive posters will be banned. Posting Trades Want to post a trade? Memes Memes are occasionally funny, but we do not want them here during trading hours.
This is an archived post. You won't be able to vote or comment. Want to add to the discussion? Also, from June 27 - August 12, I made 52 trades. So 1 stop loss hit out of 52 is a blessing. Also, the key to forex is to cut losses early. If you don't, you'll get eaten. I was long expecting a bounce off of post-brexit lows region.
What type of setup do you look for? The success for forex is honestly about consistency, sticking to one time frame, sticking to one currency, simplicity and managing your emotions well Back to basics. Are you willing to give away any info on your entry signals? How long are your trades open for on average? Whats a typical trailing stop value if you use TS Thanks: I only trade on the 1h chart.
Can you explain this in a little bit more detail exactly. We need more of it. Believe me, my heart rate is normal.More...