Been filled this Bearish Cypher on the H4 timeframe overnight. For those traders not having orders over night you are getting a better entry point @ market
Let's see what the market will give us this week but I'm hoping for some winners to get out of my drawdown period !
Good luck with your trading and remember to plan your trades and trade you plan !
Trade closed: target reached
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Target 1 reached (only had one target on this trade). Glad I'm out of the market before Draghi's gets all over the place in a few minutes.
Will sit back and enjoy the show (if there is any)
Comments
korhancakir
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Hi,
If youu wouldnt mind ,My question is about your stop loss.do you have upper limit for your stop loss? By the way you have nice blog. Keep on writing :)
UnknownUnicorn300837
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Tks for the support. on the advanced patterns like Cypher, Bat, ... I have a max stop size of 100 pips. So sometimes I have to let price come to me passed the completion point to meet my 100 pips stop rule (and if my allowed entry point invalides the pattern, then I just don't place orders at all, so I rarely place orders on daily for example .. and not so often on H4). Hope that answers your question :)
korhancakir
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one more question and you will completely answer.maximum stop size per one lot size you put on trade or for total lot size. i want to mean for example 0.01 micro lot size 100 p'p stop loss or 0.02 lot sizes and 50 pips
UnknownUnicorn300837
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I have the same max stop size regardless of my position size. The position size is part of my money management rules where I need to make a specified % of profit before increasing position size (and inversely, a specific % of loss will make me decrease my position size). But the max stop loss always stays the same
If youu wouldnt mind ,My question is about your stop loss.do you have upper limit for your stop loss? By the way you have nice blog. Keep on writing :)