Hello everyone!
My name is Anthony Schneider.
My exp at the Forex - 2 years. Not so many, you can say, but they are enough if you have a good system, and if you know how to work with it.
I can't say that I am the best forex trader nor the best analitic. I'm just a trader, like the others.
I have started my blog, when I realized that my trading plans would be helpful and interesting to other traders. I won't write here how good or bad are they: it must be completely your decission. Nobody will force you to read my blog, nor this thread
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I would like to thank Nili for his interest in my blog and for his invitation to this thread. I wil try to answer to all questions, that you, or any reader will ask me.
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I have opened a sell order at 2.0830 and I have closed it at 2.0800 a little bit lower there was a support. I have earned 27 pips So, everything is clear, but you didn’t say anything about a stop loss. I would like to ask what stop loss should I use? I didn’t put a stop loss because I traded on demo account.
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Nili, you have chosen a little wrong open point. You must not place your trades precisely at these levels on the chart. To understand the system you have to use my supports and resistances to find good points to open your trade, and good targets, where you will close it.
For example I marked out flat borders at this picture, and I have opened my trade around 885. Why this point, you ask me? Because a little earlier the price didn't manage to fix under the lower flat level, though it managed to break it. When it bounced from the another border, I have made a decission to open a trade. When you place you order on the basis of the flat levels, than you must place your stop order on the basis of the flat levels too. In this situation I placed my order a little higher then the top flat border.
You have opened your trade at the 830. If you have opened it after a rollback, then a good point to place your order was a little higher then the previous fractal, for example at 864.
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What time (and Zone) is the Blog updated? Thanks.
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Profitmaker, usually I update my blog every morning (around 1-2 A.M. GMT), but, as I have already wrote there, I had some problems to solve. I hope that in the future I will be able to update it everyday. I have already posted my trading plan for today there.
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I have a question to the author, at what time do you suggest us to trade?
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The best time to trade is from 6 to 10 (GMT) and from 13 to 17 (GMT). There are session crossings at these time periods: 6-10 Asian and European sessions, 13-17 European and American sessions.
I hope I answered to your questions!
Best Regards!
Anthony Schneider.