Thread: Stuck in this drawdown trade - what would u do?

OK, 1st $10/day/100%wins profitable or in gambler terms $$$$$$$$$$$$$$$$$$$.

$10 per day @ .10 = 100 pips each day, that means you are kicking some ass. I would be a trader than a one, that strikes large here or there. Are you currently making 100 pips each day?

@ 57 percent you could make whatever egy you use profitable, by building a cash management execution. RR = 1:2, 1:2.5, but in your case, this might not work, because you do not have, what I call, a bread and butter commerce, which consistently has a high% win rate. Looking at your stats and reading your post, I really don't see it, YET, although I could be mistaken.

You mentioned that you use correlation, breakouts, ect... Do you know the probability% associated with some of the numerous techniques that your using?

Trade Duration on your own explorer is @ 6 hours. On avg. This is what I call a session trader = Day Trader. Not a scalper.

What TF do you gravitate to?

This should get you thinking in the right direction.

Otherwise if you're a gambler wait, pay. RBNZ Official Cash Rate and Rate Statement are currently coming in half an hour. It is going to probably be positive. They might surprise us with future rate hikes announcement (RBNZ can be very unpredictable). BUT if they wont sound hawkish, we might revisit 0.69 low, given that corrective flag has been broken and we're at risk off environment which is NZD negative. You should not find yourself in this scenario in the first location. I'm sorry but I must say your risk management sucks big time. Please find out more about position sizing... Here is a post http://www.tradeciety.com/position-s...forex-traders/
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Record was a mixed bag no future cuts but also no hikes on horizon ... Given that the risk aversive sentiment I'd close positions today, if I were you. NZD is a carry trade currency which doesn't do good against secure haven currencies in environment. Just my 2 pennies.

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Originally Posted by ;

Trade with what market revealed to us, not what we think the market moves

to exchange what's the market is showing is just like trading in the past bcz that the signal is in the past and it isn't in the future, so you will guess what will be the following way of the price.

Originally Posted by ;

Hey.. I keep getting a lot of great trades in the day's start. . But somehow, I wind up becoming a bad transaction at the end of the day. I keep looking at the transaction in order to await price action shut the trade, or to go in my favor. Thing is. . Many times ive been observing the transaction for 5,6 hours. . With volatility. . And price not going any where. Im stuck. . How can you manage a transaction like this? (see attached pic). I got in at 18:13... its own 02:13 now. Waiting to see if price is going up or down. Its on a critical...

Wow, that's a bit of a risky trading if u ask me. I would advise using SL, but of course that depends on the egy un r using. According to the investment, I wouldn't trade 1lot