Apa shj ttg forex... anything about forex

Who is online?
In total there is 1 user online :: 0 Registered, 0 Hidden and 1 Guest

None

[ View the whole list ]


Most users ever online was 40 on Sun Oct 27, 2013 11:32 pm

Latest topics

» Kelas Forex " Teknik 100 PIPS Sehari ! " & SIGNAL PERCUMA !
by Aqila Wed Nov 08, 2017 7:09 am

» Suggerimenti di sicurezza per i trader principianti durante il trading
by sandysr Fri Nov 03, 2017 8:18 pm

» Kursus Saham Bursa Malaysia & WallStreet (CFD) - RM69!
by Aqila Wed Nov 01, 2017 12:20 pm

» abcd abcd abcd abcd abcd abcd
by sandysr Fri Oct 13, 2017 5:33 pm

» Always avoid emotional trade in Forex
by sandysr Wed Sep 20, 2017 7:39 pm

» dds sf
by sandysr Tue Sep 19, 2017 4:47 pm

» How to trade?
by sandysr Mon May 22, 2017 9:52 pm

» A clear overview of the most traded candlestick pattern in the forex market
by sandysr Fri Apr 28, 2017 8:21 pm

» Top 3 Things to Consider While Choosing the Right Broker
by sandysr Mon Apr 03, 2017 3:14 pm

» Forex Trading, Currency Pair and Leverage
by sandysr Tue Mar 28, 2017 3:35 pm

» Life changing course to make massive income!
by Michaeljordan Wed Oct 14, 2015 5:36 pm

» 100% deposit bonus from FXVAN
by Mariatrader Tue Sep 09, 2014 9:04 pm

» FXVan - reliable brokerage company
by FXVan Tue Jul 22, 2014 9:49 pm

» FreshForex-www.freshforex.com
by FreshForex Thu Jun 12, 2014 8:04 am

» Grand Capital-grandcapital.net/eng
by ExpertGC Fri Oct 18, 2013 7:40 am

Top posters
Aqila (106)
 
asiaforexmentor (36)
 
sirz01 (21)
 
KajolThappar (14)
 
Admin (12)
 
tavaNordFX (8)
 
sandysr (8)
 
ExpertGC (7)
 
Matija Scalres (5)
 
taie forex (3)
 

November 2017
MonTueWedThuFriSatSun
  12345
6789101112
13141516171819
20212223242526
27282930   

Calendar Calendar


You are not connected. Please login or register

How I Turned a Losing Trade to a Winning Trade.

View previous topic View next topic Go down  Message [Page 1 of 1]

Forex Trading Strategies – How I Turned a Losing Trade to a Winning Trade.



Forex trading pair: GOLD = XAU USD
This is an interesting trade on the forex pair XAU USD.
In the chart above, we see a series of forex price action inside bars. (Highlighted in the blue box)
Meaning bars that are smaller than the previous bars.
When a series of inside bars like the above happen.
It means that price is having an indecision of where to go.
It’s like it is gathering momentum, for a burst out of either side.
Which could either be up or down.
So what happened in this scenario is that we placed 2 pending orders. A buy and a sell.
These 2 orders are marked by the gold line (entry) and the red line (stoploss).
So the buy order triggered. (Gold line -Entry) and we got in on a buy trade.
With that, i took away the pending order for the sell trade and made it a stoploss for the buy order.
Forex Trading Strategies – How I Turned a Losing Trade to a Winning Trade

When i trade, i would usually have 2 take profit targets.
So that when take profit 1 is hit. Which is marked by the purple line. I would have taken my first profit off and shifted my stoploss for position 2 to break even.
By doing so, i am also on the “SAFE” side. As price may hit Take profit 1 and reverse back down.
And as i have taken profit a TP1, my 2nd position’s stoploss is shifted to breakeven.
So i am in a FREE trade.
So whether or not it may hit TP2. I have already gotten profits.
In this scenario, i have taken profit at TP1 and my 2nd position has hit my stoploss for breakeven.
So i’m out for this trade.
From this scenario you can see that i am not always perfect.
No one is.
By trading on the above method, we are sure that our account size will grow consistently.
Forex Trading Strategies – How I Turned a Losing Trade to a Winning Trade

Lets look at what happen next.



Price went right down after which.
So if i hadn’t had a TP 1 and TP2 method.
I would have kept my stop loss at the red line.
And made a loss on this trade.
BUT By doing playing the above method.
Instead i have gotten profits..
I hope you gain something from this post. Let me know if you did.

Ezekiel Chew
http://www.asiaforexmentor.com

View user profile

View previous topic View next topic Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum