Started at the Daily to see which way the market going up or down. Marked my zones for either way long or short. In the 15 min, I look for price action basic resistance & support, Set position for my Tp
@Nicktay12345, We'll see, and it's only about 15 pips, plus had to get below those zones to avoid getting wicked out. But you may be right who knows. ..Friday traffic
dav1huf
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@Nicktay1234, That's right!
Nicktay12345
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@dav1huf, haha here for the banter. I just got short GJ at 700 btw, let’s see how it goes. Good luck with EU
dav1huf
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@Nicktay12345, all good! GBP has been all over the place for me lately, I did adjust that GJ trade earlier and worked out, but didnt trade it. But yeah, my previous trades I've been stopped out too early, if I need to risk a little more I just do it. This time EU flew! left too much money on the table, smh.
Nicktay12345
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@dav1huf, yeah lots of volatility. I traded it short yesterday as well and was successful but I’m trying to swing so I’m not too phased by the little ups and downs. Maybe try on a higher timeframe. The 1h and 4h work better for me than 15m.
As long as you’re protecting your capital it doesn’t matter too much. Also I’ll never take a trade with negative risk to reward otherwise long term I won’t make money. Just my style, i know everyone has their own and I’m sure yours works for you. Just sharing what little experience I have.
Nicktay12345
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@Nicktay12345, oh and I never move my stop loss. I’ll rather walk away otherwise I want to take revenge on the market
dav1huf
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@Nicktay12345, I do move my SL sometimes when it gets above 50% in profit when I'm aware I move to the entry to have no risk. I also use the 4hr and daily a lot , but not for my entries the 15m, I'll be waiting all day lol, That's because I have a scalp mentality.