Hello, Hi.

[emery1990]

Hello

I first traded when I was 19 (10 years ago) how time flys. A decade wiser I thought I’d try again. Didn’t loose too much but didn’t ever profit. I was trading the ftse 100 during the euro crisis, didn’t end well.

I’m trying to figure out a strategy that would work for me. I’ve been reading the break out thread on the best threads in the forex section.
My time to trade would be early mornings, before 6am- 7:30am then at around 4 until the markets close.

break outs appealed to me as I can wake up and study what’s been going on and see if there’s been any news Etc. Set my order then off to work.

just wondering if anyone else trades in this time slots and what strategies could work, so I can research more and get a strategy going.

 

[Pat494]

Might depend on which time zone you are ?

 

[emery1990]

Sorry, yes that would helpful! I’m in the Uk and looking at trading cable.

 

[emery1990]

Hi,

Would just like to get some feedback on some demo account trades.

The attached image is of cable as you can see. I can see the downtrend that is occurring, I put a down trend line originally on the 1h interval and got wiped out on that as thought that it would be a sell around the trend line. It kept going up, I then put one on the 1 day interval and it was clear why it carried on going up.

I put a buy in as it still had 20 pips until it hit the trend line. I sold for a profit this morning. I then thought it would go back down as to follow the trend. I put my stop just above the last resistance but as you can see it spiked over and I got closed out with a huge loss. I’m currently in a sale trade as I do believe it would go down. Am I right in thinking that the price “should” go down to the black line or maybe beyond. Any remarks on my stop loss which was too close would be useful and is this trade planned out or have I missed anything as to why it could go up instead.