Hi all, I have been on short from 14208, so in a case like this when u mistakenly entered a wrong trade which im not sure there is going to be a pull back to BE, what do you suggest, so as not to lose all your equity?
Thanks
Thanks
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DislikedToday is "French Bank Holiday" & "Italian Bank Holiday" how will it affect today?Ignored
DislikedHi all, I have been on short from 14208, so in a case like this when u mistakenly entered a wrong trade which im not sure there is going to be a pull back to BE, what do you suggest, so as not to lose all your equity? ThanksIgnored
Disliked{quote} I am sorry to hear that. I lost 50% of my initial deposit very quickly - within three weeks - in the beginning. Then I went back to Demo trading till I had trading rules I could trust to be correct before I went back to live trading. It took me a long time. I suggest you take your loss immediately. You let it run too far. You must never trade without a Stop Loss. You have to learn that from this costly experience. Write the loss off to the cost of learning or experience. Everybody pays a price over here for experience. Then go back to Demo...Ignored
Disliked{quote} Thank you, a word is enough for the wise like they say, and i will really learn with this penny you just gave to me, God bless. I actually lost 100% of my capital all over again, but i wont quit rather to continue from the demo. God bless youIgnored
Disliked{quote} Hello Donwealt, What type of trader are you? 6 to 20 Minute Scalper, Day Trader, Swing Trader or Longer Term Trader? No-one can give you any helpful suggestions unless you first state that. I could guess from your comments, but I may be wrong. Best if you were to state it unequivocally.Ignored
Disliked{quote} Thank you SLT93 I'm a day trader but don't like my trades staying beyond 1hour without at least getting to my BE point. If after an hour and the trade hasn't developed to my BE point, I close it.Ignored
Disliked{quote} Thank you, a word is enough for the wise like they say, and i will really learn with this penny you just gave to me, God bless. I actually lost 100% of my capital all over again, but i wont quit rather to continue from the demo. God bless youIgnored
Disliked{quote} Since you are a Day Trader I can copy what I stated above: If you were planning to be a day trader you can definitely use the 10 EMA crossing the 50 EMA on all time frames. If you were to use the MACD and Stochastic then it is better not to use the default settings. Only use the trigger parameters on both, the 9 on the MACD and the 3 - for the trigger - on the Stochastic. The other parameters you have to increase till you get the two indicators to mimic the general price movements as close as possible. The Stochastic is the more difficult...Ignored
Disliked{quote} Hi SLT93 Thanks a lot for your help. But my major problem is how to protect profit. A good way to trail. I tried to practice "set and forget" last week with an EA that set Hidden SL to BE once price reaches 1R profit. Majority of the trades got knocked out @BE after price have reached more than 1R (on many occasions, 1.5R or more even for trades I targeted just 2R). It's so disgusting that I became afraid I might do something stupid (self sabotage...revenge trading). I had to suspend trading for rest rest of Friday.Ignored
Disliked{quote} Sorry. I forgot to ask you whether you were a manual trader or used EAs. I cannot help you since you use EAs. Good luck with that. I have zero experience. I only trade manually.Ignored
DislikedNot unreasonable to think it will go a fair bit higher before continuing the fall. {image}Ignored
DislikedHi, Slt93 I figured out the EMAs set up and i want to know What periods is better to scalp since 10,50 EMAs is good for a day trading, so as to put this in some of my practice to be able to learn moreIgnored
DislikedHi Slt93, The scalping is just in a situation for grabbing an opportunity, so going short is when the 10 ema is below the 50 ema and vice versa?Ignored