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What did I miss

ITtrader

New member
I placed a couple trades on the AUDCHF today. Based on my indicators using moving averages and bollingher bands I saw a buy. From the chart below you can see my two buys in green. So far it has not done much but try to scare me into getting out of it. I am still standing by that it will go up based on my knowledge. Am I missing anything on this trade?

 

fscrp

Member
The market moves as it will. When you place a trade, do all you can to make sure the odds are in your favor. You win some, you lose some. I had a sell on EURUSD open a lot longer than I expected yesterday, but I stuck with my analysis and it finally hit TP. Don't get me wrong ..... I was watching the darn thing for HOURS because I have not yet fully developed the thick skin and patience we all need ;)
 

ITtrader

New member
I agree with you. I think I need to just trust myself more. I know what I am doing is right more than it is not. I just find sometimes that in the forex sometimes I have missed some news and it really messes with my trade.
 

saivenkat

Member
IMO, it could be better if you add other confirmation indicators,like zero Stochs, zero lag MACD.. etc.. rather than depending on MA's.

Just my views..

Regards
Saivenkat
 

Tinojazz

Professional Trader Since 2007
VIP Member
I placed a couple trades on the AUDCHF today. Based on my indicators using moving averages and bollingher bands I saw a buy. From the chart below you can see my two buys in green. So far it has not done much but try to scare me into getting out of it. I am still standing by that it will go up based on my knowledge. Am I missing anything on this trade?



Yes you are missing stop loss, you miss the pair for that kind of strategy. AUD CHF is most rangely pair what did not work well with mooving averages, and price is going very slow and retracely how can you get out from your nervs.... :) Do not ever add another trades in same place, better add another order after first order in profit more than 100 pips in profit, whatever, this pair is totaly bad for any kind of system...
Regards :)
 

Squall

Member
Could you explain how to use zero Stochs?

Before you learn any of that stuff you need to learn how to place a stop loss! If you forget to place your stop loss and the market has a hiccup you could lose your entire account.

Learn risk management before you learn about any kind of indicators.
 

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