newbie needs help
P
My guess is you doing some combination of:-
Not being aware of the underlying situation. i.e. the higher timeframes, action on related pairs, news events, etc
Not thinking about time-of-day in relation to a pair, do you know what the active hours are for each pair?
Not enough use of divergence indicators to reveal a reversal risk
Using ranging indicators on a trending market & vice versa
Putting TP the wrong side of significant support, resistance or Large Round Numbers - do you know where the pivot, R1, R2, S1, S2 are each day on a pair?
The usual stuff we've all done sometime :)
FWIW
-BB-
P
My guess is you doing some combination of:-
Not being aware of the underlying situation. i.e. the higher timeframes, action on related pairs, news events, etc
Not thinking about time-of-day in relation to a pair, do you know what the active hours are for each pair?
Not enough use of divergence indicators to reveal a reversal risk
Using ranging indicators on a trending market & vice versa
Putting TP the wrong side of significant support, resistance or Large Round Numbers - do you know where the pivot, R1, R2, S1, S2 are each day on a pair?
The usual stuff we've all done sometime :)
FWIW
-BB-
thankyou for your help.i now use macdh and back up on adx.do most of what you mentioned and things have turned around.i won every trade over the last couple of weeks and am now sitting on a trend on two pairs at the same time both still going up at 200 pips each.just got to work out how to exit at the right time without losing to much but i am expecting another 2-300 pips each.thanx again
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i have been trading on demo now for 6 months and tried to read anything and everything i can get my hands on about trading forex.i have downloaded and read and understand how dozens of indicators and eas work.my problem is that even if i was trading on pure guesswork i would at least win something.if i put a take profit it always turns away around two pips before triggering and as im at work all day when i get home im 100 plus pips on the wrong side.all my indicators say yes and im at a 100% loss consistantly.is it me?i try not to cut out early and as its demo i trade without worry or panic but if i need to cut out i do.as i say ive used everything from reading the candles without indicators to dozens of indicators at the same time.sorry for being long winded but i believe in myself but for some reason it isnt happening.all help would be appreciated.
thanx in advance. Dave.