My 6th Trade Result in Forex
Highlight: Went in to trade early before the trend confirmed, went through huge draw down before make small profit with trailing stop. Bad trade.
Reason of entry: Impulse trading and trade along the H1 down trend for GBPJPY. Went in to short after EMA and Parabolic SAR indicators started to formed.
What do I learn?: Don’t enter trade WITHOUT strong signals. Wait until the trend’s start confirmed. In other word, no guessing!
Tags: guessing, learning, manual forex trading, pull back, Pull Back Strategy, trade forex, trading results, winning trade
My 5th Trade Result in Forex
Highlight: My first trade with KL’s Tea Break Strategy. This is a straddle method. It started with violation of the maximum spread rules and become something I created on the fly (hedging method) that end up as a loosing trade. However, I found a method not only helps to secure free margin due to the pull-back, but can actually at the same time become really great winning strategies. But, this method cannot be perform manually without taking into count of emotions, or else will end up with the same situation like my Account B.
This trade started with the bought leg triggered and after one hour later the sold leg triggered and end up I have a hedge pair. It then hit the bought leg Profit Take and then the sold leg Stop Loss. If the Stop Loss were to be about 20 pips higher, I would have been making > 200 pips for both legs.
Reason of entry: Impulse trading and try to challenge the rule upon message from others stating that it still worked with wider spread for the bars before the entry point.
What do I learn?:
- Do not “pre-fix” in the mind the direction of this trading method.
- Always quickly close the other opposite direction leg when one of the pairs pending order accepted.
- A hedging strategy that convert a loosing trade into straddle method in order to maintain the free margin while able to minimizing the loss and can turn into profitable trades with maximum of 1.5x of initial stop loss. However, this method does not suit the non-active traders and can become disastrous like my Account B unless a robot is placed to ensure .
Tags: back test, bought leg, Expert Advisor, forex trading online systems, forex trading online systems blogs, hedging, learning, loosing trade, manual forex trading, new strategy, pending orders, pull back, stop leg, Tea Break Strategy, trade forex, trading results
