Thursday 28th April - Part 2

by 18:47 2 comments
I took another trade in the second half of the day. Unfortunately this resulted in a loss for the first time in a month. I set my order on the high of a test on a trigger line. It was a valid test but once it didn't trigger after two bars I should have cancelled the order. The test had failed. I ignored my own rule and left it in for one more bar. It triggered and went up about 18pips before falling and stopping out. I probably should have put my stop to break even as well but I was out of the house at the time. I must admit i'm pretty annoyed with myself in this instance. But there ya go. Live and learn.

Trade 34 - EUR/USD - Buy @ 1.4821 -  Closed @ 1.4786 = -35

 Eddie 5min



28. Forex. Trading. Music. Beer. Food. Travel.


  1. Hey liam, i'm still following your blog! You have only taken 1 loss this month? Thats pretty good dude, quick question - what rule are you using for setting your stop losses?

  2. Hey man, cheers for still reading! Not really posting on Forex Factory as much at the moment, trying to concentrate on my trading a little more.

    For this trade i set my stop a few pips below the low of the wide spread, ultra high volume bar. It'd normally be on the swing high or the low (depending on if it's a sell/buy) but that was too far away for this I felt. Even if i had put it on the low that would've been hit as well.