Reversal fear leads me to loose on retracements - page 2
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another question can I use this approach, lets say my SL is 500 (because of the swing high) and I aim to get 500 point can I get profit gradually?
like get 100 and re-enter get 100 and re-enter until you get 500 or if detect some kind of reversal and get-out.
The best way to accomplish that is the use of a generous trailing stop loss.
Can anyone simply answer this question,
if I enter to the trend from the point below (H4) what stoploss should be as points, 500? or 250? or 2xATR or what?
Moving average cross is one of the most unsuccesfull trading style. Be careful, prices consantly makes M and W patterns at every timeframe (merill patterns). To spot the highs and lows use zigzag indicator. Trade not lower than H4 timeframe and always trade with mini lots until you mastered a trade style. Forex is very tricky do not trade with money that you can not afford to loose. Demo first! Stoploss complately depends your trade style.
250, 500 points are too small, try to build a strategy uses minimal 1000-1500 points of stoploss. And off cource try not to trade with volatilate pairs. Use EurUsd for beginning. If you enter a trade at wrong at highest high or lowest low no matter the stoploss you loose.
Take a look at the forum page could be usefull.
https://www.mql5.com/en/forum/10741
another question can I use this approach, lets say my SL is 500 (because of the swing high) and I aim to get 500 point can I get profit gradually?
like get 100 and re-enter get 100 and re-enter until you get 500 or if detect some kind of reversal and get-out.
How would that be useful?
Closing and re-entering a trade achieves no benefit but incurs additional costs.
How would that be useful?
Closing and re-entering a trade achieves no benefit but incurs additional costs.
So how can I keep safe my profit?
So how can I keep safe my profit?
You have already asked about this in your earlier topic.
https://www.mql5.com/en/forum/333603
You seem to be opening a new topic every-time half an idea pops into your head.
I advise you to concentrate on one aspect of trading at a time instead of jumping from one thing to another.
If you are looking for a quick way to become a successful trader, stop looking now and forget all ideas of trading. You will be disappointed.
It can take years to become successful.
Hi all,
If you have broad stoploss, reversals can easily ruin your account.
Therefore I am afraid of them.
However as traders we only can earn good money from retracements.
How can I get rid of my reversal fear, use a good stoploss, keep myself stand against "the wind of opposite stream"
or just "give up (close position) and pay some due" and come-back and contiune the trend.
Which tactic is good?
Fear is the most important survival tool which human have.
I can tell that your fear lead you to the right question.
Yes, it is very important to anticipate reversal.
Reversals are the resulting product of Fractal patterns in the financial market.
Hence, you have to understand the fractal patterns or fractal wave as the part of your trading strategy.
Unfortunately, not many people will tell you this but just showing some technical indicators, etc.
Technical indicators are only indirect method to deal with fractal patterns. They were originally invented for some other purpose rather than dealing with fractal patterns.
My recommendation is trying to use more direct method to deal with fractal patterns.
The more direct method is referred as Price Action and Pattern Trading or strategy.
Plus note that, to be clear, I am not talking about Fractal Indicator by Bill Williams.
I am talking about the general methodology that deal with swing high and swing lows in the market that is considered as Price Action and Pattern Strategy.
In another words, it is important that you understand the patterns behind the price action.
You have already asked about this in your earlier topic.
https://www.mql5.com/en/forum/333603
You seem to be opening a new topic every-time half an idea pops into your head.
I advise you to concentrate on one aspect of trading at a time instead of jumping from one thing to another.
If you are looking for a quick way to become a successful trader, stop looking now and forget all ideas of trading. You will be disappointed.
It can take years to become successful.
if you know the answer and you want to help give an answer, stop being negative, stop being judgmental stop being criticizing. That is not the way to show people the way of success.
Fear is the most important survival tool which human have.
I can tell that your fear lead you to the right question.
Yes, it is very important to anticipate reversal.
Reversals are the resulting product of Fractal patterns in the financial market.
Hence, you have to understand the fractal patterns or fractal wave as the part of your trading strategy.
Unfortunately, not many people will tell you this but just showing some technical indicators, etc.
Technical indicators are only indirect method to deal with fractal patterns. They were originally invented for some other purpose rather than dealing with fractal patterns.
My recommendation is trying to use more direct method to deal with fractal patterns.
The more direct method is referred as Price Action and Pattern Trading or strategy.
Plus note that, to be clear, I am not talking about Fractal Indicator by Bill Williams.
I am talking about the general methodology that deal with swing high and swing lows in the market that is considered as Price Action and Pattern Strategy.
In another words, it is important that you understand the patterns behind the price action.
thanks
You have already asked about this in your earlier topic.
https://www.mql5.com/en/forum/333603
You seem to be opening a new topic every-time half an idea pops into your head.
I advise you to concentrate on one aspect of trading at a time instead of jumping from one thing to another.
If you are looking for a quick way to become a successful trader, stop looking now and forget all ideas of trading. You will be disappointed.
It can take years to become successful.
if you know the answer and you want to help give an answer, stop being negative, stop being judgmental stop being criticizing. That is not the way to show people the way of success.
I am being truthful, nothing else.
I am being truthful, nothing else.
Really? Lets look at your sentences
"It can take years to become successful."
The day you said that I had earned 3000 points from my positions and it was not luck. And I am 3 months long trader. And this is 1/5 of the performance of the system in my mind. Which makes you wrong.
"You seem to be opening a new topic every-time half an idea pops into your head."
No I am just an enthusiastic who is willing to get benefit of experienced ones and whose enthusiasm is being tried to broken by older ones (obviously)
"stop looking now and forget all ideas of trading."
If I don't use my brain which organ should I use to be successful? It is not an impertinent implication, I am asking this seriosly.