I think you are no wrong....but price action on last hourly bar was too much fall! Was right the previous swing but the last was risky and dismiss trade!!!

This is my opinion....i follow the same method and is the best!!!!!

Best regards...

Hi FXBabe, if you get your SL hit is because you decide to protect the trade against a huge lose. This is one of the more important things for a trader.

Protect yourself against the loses will help you to stay in business more time than if don't set your SL.

There is some way to trade without SL but is for veterans and depends on how they focus the trading style and your wallet. But this theme is for another thread.

Stops hits are part of a trader life. You need to learn to live with the idea that not all trades would be winners.

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cool. i'll carry on trying. if you are using this method please post some charts. i'll continue to do the same.

Theres a support level at 112.70 area. Will you be going long? if so when will you enter with what sl and tp?

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No trade it's my opinion....trend 4h new low and down and trend 1h same down!!! but i have another price... WHC Broker!

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Hi Linuxser,

Good comments, i always find usefull information on this thread.

Hi all,

Festivities over and time to get back to work and what a start ,my first trade of the year with a 200 pip profit yes you heard that right 200 pips profit.

Here is the chart from the trading timeframe only.

Please remember trading retracements is not just a case of taking every retracement during a trend there are a number of other factors that need to be taken into account.



bubble

ps the target should read 161.73 not 163.73 and the LH and LL labels seem to have moved in the picture, one of the LH should be switched with the LL.

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Hi bubble,
Great to see you back. Nice to hear that you made good profit on the very first trade of the year.

My request is, can you kindly explain

1. Which are the retracements that are to be traded and which are not to be traded?

2. What are these "number of other factors needed to be taken in to account" mentioned in your post?

Thanks in advance and regards

Hi rsi,

good questions, unfortunately i wont be discussing the techniques that i use on a public forum.

bubble

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Hello Bubble good to see your post,

A very happy new year to you
wish you the best for 2008

Best regards
Guyver.