Daniel-Malik

AUDCAD SHORT - 5th Impulse

Short
FX:AUDCAD   Australian Dollar/Canadian Dollar
short AUDCAD now guys, pair is now following the 5th impulse wave . take your short positions till the provided targets thanks
Comment: coming back to the entry point

Comments

Price isn't coming back to your entry for some time !
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@Ranothil, on 7th day of trade it was on breakeven
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Ranothil Daniel-Malik
@Daniel-Malik, I know but I hope you closed it mate!
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I entered Short in Blue zone @0.9828 waiting for the 5th Wave, but got Stopped out @1.0010 :( Here Fundamentals played bad role....
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Daniel-Malik zhivankin
@zhivankin, Happened some time , But as I taught my students that how to control the risk without stoploss , so I believe they all are still in this trade
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zhivankin Daniel-Malik
@Daniel-Malik, I agree that often SL turns to be bad thing... however without such - on the long term you might get your account hit very hard or even wiped if you are not monitoring it often..
Here SL limited my loss to 180 pips. If I was still keeping the position - I would be -233 pips
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zhivankin zhivankin
17 more pips UP and Risk-to-reward ratio of this position for TP1 would be 1:1... I hope this doesn't go too high to accumulate losses to those in the position
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Daniel-Malik zhivankin
@zhivankin, I strongly suggest not to use STop losses. But instead I have other more techniques to place counter trades. One of them is very common that Instead of placing stop loss. Use pending order instead, Because this will give you another chance to control the situation as per your directions
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Daniel-Malik zhivankin
@zhivankin, now see the price. thats why i don't use stop losses
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Daniel-Malik zhivankin
@zhivankin, As I told you that I taught in my course that how to deal with such situations. I have few formulas for all these things. You definatly ask my students that they wont face any difficulty while trading such sitautions
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