When a super moderator comes in to trade, everyone better watch out. It seems like I may throw in a strategy or two later. All the best Toxic. We all know you've got the stuff.
First two long trades on Eur/Usd from 1.4470 ended up by hitting stop loss. They were going fine but yesterday without any news release and without any special reason, EU dropped 90 pips in less than 20 minutes hitting my stop loss. My trade was in 15 pips profit but ended up as a loosing trade.
Anyways its still fine. I will try my best to recover this loss by doing a few profitable trades. Will have to work hard now for recovery keeping the money management plan in mind.
Toxic bro go for Win. you are the best moderator. I hope you will sure win.
hey bro last day and today your result going bad. I hope you will profit as your experience in forex is enough.
3rd Trade: Long on Eur/Usd at 1.4362, stop loss 1.4312 and take profit 1.4485. Even in this trade, stop loss was achieved. I entered this trade on the basis of 200 period simple moving average on 4 hourly chart at 1.4360. Even I failed in this trade. 3 loosing trades in a row. That's too bad. Trying to calm myself down.
Hopefully will do a few profitable trades in the coming days.
same with me..yesterday i also has been very super bad trading , my SL has hit three times,.. now my balance 4.723..
I will survive even though I not win but my account is not to MC ...
let's competing to prove a profitable trader ..
do not let at the end of contest you are over my back
Guys!!..Participate in MT5 contests at "Black Frame Talent" also give your vote
come on! discuss and share your experience about naked trading in here
After 3 negative trades, here I am with my 4th trade:
Trade number: 70639266
Opening time: 7-7-2011 4:36
Stop Loss: 1.4384
Take Profit: 1.4253
Volume: 5 lots($5 per pip)
Risk: (250$ if hits stop loss i.e 5%)
Reward: (81pip=405$ i.e 8.xx% if take profit is achieved.)
REASON FOR ENTERING:
First, have a look at the weekly chart which I posted in my first trade analysis in this thread. Here is the updated version for that:
My inclined trend line within a trend channel of weekly time frame worked extremely well from 1.4565. I just misread it in last few trades and went against the short term trend although the long term trend was still pointing towards north.
Secondly, following are a few major reasons for entering in to this trade:
1: Strong resistance at 1.4338 which failed to break even after getting touched around 7 to 8 times. (See chart 2)
2: Both moving averages i.e 21 period and 200 period were already broken in 4 hourly period and in shorter time frames.(See chart 2)
3: Daily 21 period moving average broken with last day's candle. (See chart 3)
4: I have setted my target as 1.4253 because the weekly uptrend chart(Chart 1) has 21 period moving average at 1.4250 which is a good sign for support.
5: 1.4250 is a strong support in 1 hourly time frame.
Below are the charts attached for references:
I will try to keep this trade updated as there are a few barriers until we reach 1.4253. Those are 1.4285 which is a strong level. I will show it if I ammended my stop loss or take profit.