EUR/USD Beginner Level trading
The pre-franky session is over and the Frankfurt session has started. I intend to hold the trade open hoping that franky will not mess with my trade and erase the gains. The clusters are below 700 so my thinking is that price should continue to push down towards the clusters during franky.
Franky started rising and tried to erase my gains so i had to close out with 1 pip profit. I will wait for price to breakout the ash-colored markings (prefranky high and low) before trading the direction.
After spotting the bearish engulfing pattern I have gone short on franky with stop above the Asian high. Wish me luck!!!
The short seems to be going well for now but I am still on the edge of my seat till price falls past the pre-franky low (lower ash colored marking)
Price fell till the august closing price. I have closd my short positions with 34 pip profit. I am done for the day
End of day market snapshot: the market remained above the august closing price
Great trade yoks.
I have something to share on that end. Today i was long and running my trade and your trigger bar to sell screwed up my buy trade and i took a hit there.
Why am i telling you this?
I just felt it is important to point out that for every buyer there is a seller, your stop loss getting blown away would have been a good profitable trade for me. And my trade getting stopped out was great trade for you.
When you see it like this you would realize in trading no one really knows anything, we are just placing trades and managing risk. When we lose money we try to manage it so that it doesn't destroy us.
Sometimes you win sometimes you lose, and that is the hardest part to accept in this business. Good trading involves getting accustomed to these setbacks and knowing they are not a result of your actions,its just market being the way it is. We as traders are not responsible for market behavior we just profit or lose from it.
my post might seem out of place here, but seeing you make money on a trade where i lost a good chunk of my profit and eventually lose money made me come and post this. I felt it was a good moment to teach a good trading lesson to the public.
I am done for the day. Up with a little profit and because the market is awaiting cpi news release later today, price is just trending between the august low and 700
The big driver today is ECB rate decision.
I somehow feel you exited for BE this still looks like a sell. Now don't go trading again just because i said so. If you feel you are done you should be done for the day.
Good Day.
The big driver today is ECB rate decision.
I somehow feel you exited for BE this still looks like a sell. Now don't go trading again just because i said so. If you feel you are done you should be done for the day.
Good Day.
Good morning, yes, there is still selling potential since price is being resisted by the Asian low and has not closed above the first 15M candle of Franky. I kind of knew the markets will be ranging today but I just wanted to test the waters hence i exited for BE. I am not trading again till tomorrow.
