Trade 7: Pending Long IBEX35 @ 10,800
S.L @ 10590
For $29,798.94 Balance, Position size = 0.4 lot (0.2+0.2) .
Risk= 4(position size) x0.8(point value per 0.1 lot)x210(stop loss)=$672 ~ 2.2% of Balance.
- Long term trend is up
- 200 Days forming support
- Multiple candles at 200-days Average
- 1.271 extension of recent wave
- Fundamental factor: Any minor progress on Greece will probably lead to a major rally, as economic conditions improved recently in the euro area and ECB continues to pump money through .
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please don't make much noise , I do believe on Technician , if we look at the the equity risk ratio , I could go uptil 20% of my equity with him (lets say 30 ,000 and risk is 6000 , I will keep staying with him until I didn't hit my risk, If 2 out of 10 trades go fine i will still be on breakeven . I still have a reason to stay with him and that is 20% risk of mine.
I think let him do his best,
I look forward to see more trades from you Technician , As I learn how you look in to market and most intersteg thing for me how you setup the stop loss and thats the point to keep safe your equity.
I am using Fxcm -Marketscope Chart. Your 200 SMA is above your Stop Loss.
I see in my Chart far below Stop Loss. Could you Guide Please.
Both Charts enclosed for Reference.
I wasn't going to take this trade since I don't trade anything but Forex, but in any case, I think the risk could be higher than the one you just calculated.
Anyway, as you already have told several times, these are your trades, and no one should follow you unless he is willing to do it!
Good luck with your trade! I am from Spain and was surprised when I saw your pending trade regarding the Ibex! :)
Thanks again for your excellent job.