Forex Trading Questions(Advanced Strategies,etc)
- Thread starter Fx-Tiger
- Start date
- Tags forex forex india forex scalpig forex strategy forex trading forex trading india
Hello Fx-Tiger,
Thank you very much for your reply.
Now as per my question i want you to see the chart attached and i will illustrate exactly what has happened today when one of my stop loss got hit.
My sell stop order was setup at 88.50.
My Take profit order at 88.25.
Now do you see the spike in the chart in the third candle from the right.(sorry i didnt mark it)
That one just hit my stop loss.
And when i see eventually the market had gone in my direction only, but due to my stop loss being hit i was thrown out of trade with a loss.
Now that is clear example of loss due to stop loss.
Now my reward=25 pips risk even when it was 25 and out of that zone was hit.
Now there's the qustion how am i supposed to gain big bucks in a 25-30 pip zone without setting a bad risk to reward ratio say of 2:1.
This is the common problem in my trades.
What should i do to resolve it. Should i set a bigger stop loss or target bigger zone where i at least can keep both stop and take profit near 1:1.
I am sure you will have the solution,
Please reply.
Thanks in Advance
Tavnaz
Thank you very much for your reply.
Now as per my question i want you to see the chart attached and i will illustrate exactly what has happened today when one of my stop loss got hit.
My sell stop order was setup at 88.50.
My Take profit order at 88.25.
Now do you see the spike in the chart in the third candle from the right.(sorry i didnt mark it)
That one just hit my stop loss.
And when i see eventually the market had gone in my direction only, but due to my stop loss being hit i was thrown out of trade with a loss.
Now that is clear example of loss due to stop loss.
Now my reward=25 pips risk even when it was 25 and out of that zone was hit.
Now there's the qustion how am i supposed to gain big bucks in a 25-30 pip zone without setting a bad risk to reward ratio say of 2:1.
This is the common problem in my trades.
What should i do to resolve it. Should i set a bigger stop loss or target bigger zone where i at least can keep both stop and take profit near 1:1.
I am sure you will have the solution,
Please reply.
Thanks in Advance
Tavnaz
Last edited:
Hello Fx-Tiger,
Thank you very much for your reply.
Now as per my question i want you to see the chart attached and i will illustrate exactly what has happened today when one of my stop loss got hit.
My sell stop order was setup at 88.50.
My Take profit order at 88.25.
Now do you see the spike in the chart in the third candle from the right.(sorry i didnt mark it)
That one just hit my stop loss.
And when i see eventually the market had gone in my direction only, but due to my stop loss being hit i was thrown out of trade with a loss.
Now that is clear example of loss due to stop loss.
Now my reward=25 pips risk even when it was 25 and out of that zone was hit.
Now there's the qustion how am i supposed to gain big bucks in a 25-30 pip zone without setting a bad risk to reward ratio say of 2:1.
This is the common problem in my trades.
What should i do to resolve it. Should i set a bigger stop loss or target bigger zone where i at least can keep both stop and take profit near 1:1.
I am sure you will have the solution,
Please reply.
Thanks in Advance
Tavnaz
Thank you very much for your reply.
Now as per my question i want you to see the chart attached and i will illustrate exactly what has happened today when one of my stop loss got hit.
My sell stop order was setup at 88.50.
My Take profit order at 88.25.
Now do you see the spike in the chart in the third candle from the right.(sorry i didnt mark it)
That one just hit my stop loss.
And when i see eventually the market had gone in my direction only, but due to my stop loss being hit i was thrown out of trade with a loss.
Now that is clear example of loss due to stop loss.
Now my reward=25 pips risk even when it was 25 and out of that zone was hit.
Now there's the qustion how am i supposed to gain big bucks in a 25-30 pip zone without setting a bad risk to reward ratio say of 2:1.
This is the common problem in my trades.
What should i do to resolve it. Should i set a bigger stop loss or target bigger zone where i at least can keep both stop and take profit near 1:1.
I am sure you will have the solution,
Please reply.
Thanks in Advance
Tavnaz
Welcome Again Tavnaz,
Chart is Great and Neat.
As per your Strategy You are using no MA or any Indicator to Identify Entries and Exits. So We cant Change or Tweak your Exit Strategy there,
So the Next Step is Reviewing your Previous 50 Trades. You have To take from now the Stastics of Each Drawdown of Pips going opposite from your Entry,
Take it for Next 50 Trades. We will see the Average Drawdown of Pips going against your Trade. Then we will come for an Calculation to Set SL.
This is the way we can tweak the Exit Strategy by seeing the average Drawdon per trade for this Method.
-------------------
Simple Pullback Method From Trendlines, S/R and Fib Pullbacks and 200 EMA....:thumb:
I will post some Examples of it..But Practising and Identifying the trade is difficult here.
-------------
Price Action Trading is Real Great Strategy Depending on Market Volatility. Usually Dont Trade at NEWS releases which cause some spikes and hit SL in a Second..so always look into News...
I will post some Examples of it..But Practising and Identifying the trade is difficult here.
-------------
Price Action Trading is Real Great Strategy Depending on Market Volatility. Usually Dont Trade at NEWS releases which cause some spikes and hit SL in a Second..so always look into News...
Hello FX-Tiger,
As you said i looked back in past 50 trades record and find that the average wiggle against me in any trade was around 29 pips only if thats what you wanted to know.
If you meant, what i understand, is that i should find out average movement against my order.
Is that right and that should be my stop loss.
If my average stop loss is coming out to be 29 pips as compared to my take profit of 24,(which is my standard TP).then also after tweaking the stop loss,the problem may not get solved.
Because in a day the movement against you can be immense around 50 pips or so during news time.
And as according to my strategy i place orders in the morning and dont watch any signals i wont be there during the news time.
Another problem if i increase the Stop loss it then also creates a problem because even if i pick high probability trade the chance against me still hold, that my stop loss may get hit and with bad risk/reward ratio i get bad result overall.
Well that is true, that i would get overall good Profits but with bad Risk/Reward Ratio, which will disturb my fragile peace of mind.
You said you will post your charts i would very much like to see them.:clap:
I am eagerly waiting.
Tavnaz
As you said i looked back in past 50 trades record and find that the average wiggle against me in any trade was around 29 pips only if thats what you wanted to know.
If you meant, what i understand, is that i should find out average movement against my order.
Is that right and that should be my stop loss.
If my average stop loss is coming out to be 29 pips as compared to my take profit of 24,(which is my standard TP).then also after tweaking the stop loss,the problem may not get solved.
Because in a day the movement against you can be immense around 50 pips or so during news time.
And as according to my strategy i place orders in the morning and dont watch any signals i wont be there during the news time.
Another problem if i increase the Stop loss it then also creates a problem because even if i pick high probability trade the chance against me still hold, that my stop loss may get hit and with bad risk/reward ratio i get bad result overall.
Well that is true, that i would get overall good Profits but with bad Risk/Reward Ratio, which will disturb my fragile peace of mind.
You said you will post your charts i would very much like to see them.:clap:
I am eagerly waiting.
Tavnaz
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