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Dear Sir, how do you determine the direction of the market so that you do not go against it?
I'm serious, it shows different directions on different frames, for example on the hour up, on 4 o'clock down, on the day up, so where do I stand so as not to enter against the market?
It is easy. Leave 100 candles of the working TF on the screen. And look with your eyes. If you can't figure out where the market is going, see an eye doctor.
and trading a 100pp. stop and a 100pp. profit does not appeal.
How do you determine the exit from a trade?
Correct stops standing 50pp below (for example) resistance, a trend can be knocked out by a false breakdown (bullish, bearish trap)
.....The correct stop is not under but over resistance.
This is one of the reasons why most traders lose money. They want to trade often. I trade very rarely in forex, my stops are around 300-500p (old, 4-digit) and my targets are 2-4 times further away. The lower is the TF, the more noise is there IMHO.
Well, yes, supported.
Only the point of such a stop is nil.
Actually, it's a very useful idea to find just one hell of a draining strategy and flip it. Only it should not just drain slowly, it should just blow the depo away in one fell swoop. Here's an idea. Everyone (or most) have tried pipsing without a stop loss with a fill-in from minus. It's a 100% draining strategy. OK, maybe there are miracles, let it not be 100%, let it be 99.9% draining.
So. Plum strategy: (We need to figure out what a beginner does when he wants to make a lot of dough.)
- Let's look at d1 or n4 and see a clear trend. Suppose the trend is bullish. So we should open only upwards.
- We shift to the TF m5, or even to m1.
- We open up. We do not place the Stop Loss. If the price goes up, we immediately close with profit of 5-10 points. If the price goes down, we wait, then we scale in from the deficit, close as soon as we have taken 5-10 points of profit or as soon as we have zeroed the loss, open again, scale in again, etc. The price goes very far down and we have nothing to deposit, so we wait out the loss and hope for a miracle. Sometimes it happens, but most often we either lose our nerve and close with a loss of about 30-40-50% of the deposit, it depends on who knows what, or we wait till the last moment until deadlock itself closes our position near 0. Did I list everything correctly? Did I miss anything? This "strategy" is a losing one anyway. And mind you, it's not losing because of spread, what does spread have to do with loss that has been sitting for days, weeks... She's just losing.
Okay, let me get my thoughts straight.
I'll try to flip it.
We don't flip the trend. Let it be. Trend is our friend after all. Copy all the above backwards, except the trend:
Antidrain strategy:
- We look at the timeframe d1, or n4, we see a clear trend. Suppose the trend is bullish. So we should open only upwards.
- We move to the TF m5, or even to m1.
- We open upwards. DO NOT SET A TAKE PROFIT. If the price goes down, we immediately close with a LOSS (okay, 5 will not work, since only 3 pips remain due to the spread) 10 pips. I.e. moose is not more than 10 points. If the price goes UP, we wait, then we scale in from PLUS, close as soon as we have zeroed the PROFIT, we open again, scale in again, etc. The price goes very far up, we have nothing to fill, we stupidly "go UP" PROFIT and hope that "miracle" will not happen as usual. So, we "give up nerves" and we close with ANTI-LOSS (WITH PROFIT) about 30-40-50% of depo, it depends on whom, or we sit till the last moment until... um... ...until the depo doubles. ??????
Is that it?
How's that? Am I on the right track? :-)))))
Seems silly, but it's worth a try.
There's probably nothing to do in forex with a normal psyche.
It's more difficult to "WINNING" a PROFIT, by the way, than sitting on a loss !I see! But that's too long-term, and a five-fold stop! is not more than 1% of the depo per trade! And a stop here would be like a disaster.