#EURNZD - #update - completed the pullback, fell a bit and moved back up and this time gave a better entry, I entered small at 1.6890 and I will add to it after it breaks through 1.6815 static line.

some of the members of the channel contacted me and asked me to add exact entry points and stoploss for the trades.

the reason I don't share exact entry and stoploss for the trades I share, is that I want everyone to manage their entry and stoploss based on their own preferences...
I myself usually go for a risk to reward ratio above 1:1, even tho I have a decent success rate with my trades, I still like to win more than I risk on each trade (or at the very least win as much as I risk)
this is how you can keep your head above the water in this line of work. if you risk more than you take, you're bound to crash and burn at some point in the future even if you perform very well in the short term.

so let me make it a bit clearer with an example like the EURNZD trade I shared. when I say there is a head and shoulder pattern and it has broken the neckline, you have two options... A) sell it immediately. B) waiting for the pullback to the neckline and selling it there.

if you decide to go with option A, you know there is a big chance for a pullback so you can't enter here and put a tight stoploss on your trade, you're just going to increase the chances of losing dramatically by putting a tight stoploss on your trade. so you have to pick a wider stop, and therefore choose a smaller risk to reward ratio like 1:1.5 or lower like 1:1
in this situation, its a good idea to divide the lot size you want to trade on this analysis, into 2 or more parts and enter a small part of your order here, and if it created the pullback, add the rest of it there. this way if it didn't create the pullback you still get a profit on the small order you have on it anyways and might even get an upportunity to add to your initial position on the way to your target.


if you go with option B, you enter when the pullback is finished, and this way, you get to have a tigher stoploss, so you can have a better risk to reward ratio on your trade like 1:3 or 1:4. you'll risk less than you are standing to gain.




but risk to reward ratio is not the only thing you have to think about when choosing a stoploss on your trades, I have posted about this subject in the past and I will bring that post down again under this post so you can read that again if you have joined recently.
its always better to put your stoploss behind a important static line (support or resistance lines) so if the price moved against you, the buyers or sellers in that area can push it back and prevent your stop from getting activated and taking you out of the trade.


for example in the trade I have shared on EURNZD, assuming you were to enter with me on the static line of 1.68900, we first need to asses the size of our target for the trade, in this case, if I were to just enter for a smaller target like 50 pips till the static line of 1.68500, then a decent stoploss would have been behind the 1.69300, it would give me a decent 1:1 risk to reward and chances of the target being hit very soon was a lot higher.

if I were to choose a bigger target like 100 pips (static line of 1.68000) I could go with either a 1:2 risk to reward ratio (stop loss behind 1.69300) or a 1:1 risk to reward ratio (stoploss behind 1.69900) on this trade.


the head and shoulder pattern gives me a potentially 300 pips target (I always aim for a smaller target than what the pattern provides and adjust my target based on major static lines so I can get out of my trades sooner and also lower my risk of the major lines changing the direction of price completely)
so I assumed a 200 pip target for this pattern ( static line of 1.66900 ) and since its a big target and the pattern has formed on a higher timeframe, I personally chose a 1:2 risk to reward ratio on this trade so my stoploss is behind 1.7000 static line (its about 110 pips stoploss for a 200 pips target, so almost 1:2 risk to reward ratio)


and everytime I decide to add to my positions I apply the same thinking to the new orders too, choose a good risk to reward ratio on them and hope for the best.

I hope this post helped those of you who were a bit confused about where to put the stoploss and where to enter the trades.



I don't like putting exact numbers so you can choose the risk to reward ratio however you are comfortable and mentally can handle.

good luck to you all and thank you again for the support.

by the way, this was the post I was referring to earlier..

its from when I was way into scalping! hahaha but still its some solid advice! lol

I'm just going to do an end of the week count, so we can keep track of our weekly performance.

results of the trades this week:

#EURGBP -15 pips
#USDJPY +40 pips
#GOLD +200
#AUDJPY +90 pips
#GBPJPY +100 pips
#EURUSD -15 pips
#GBPCHF +100 pips
____________________
Total pips 500 pips


we also have a #EURNZD order open in 100 pips of profit already going for a 200 pip target. but I don't count it in this week since its still unclaimed profit.


not a bad week overall considering I didn't have a lot of screen time this week.


Have a nice weekend everyone!

I was just looking at my own account and realized I have missed this trade on my weekly count.
It reached its 100 pip target I had on it but I somehow I forgot to add it to our total because I forgot posting an #update on it in the channel.

So now Im just going to add it to our count for the past week.

#AUDNZD - M15 - triangle pattern. Going down for a 15 pips target

#AUDJPY - 15M - waiting for a breakout to the upside or downside, going for a 30 pips target

This one failed to hit the target area one more time, so I count the -8 pips stoploss I had on it.

Not a big loss.. We still have plenty of time to make up for it.

#EURAUD - 2H - Buttom of the channel, if it holds the support here, it can move up towards its first target (first resistance) which is 100 pips.

#EURNZD - 30M - it can go for a 100 pips target.

Closed it here at 80 pips of profit.
I wrote 100 by mistake, even tho the size of the channel is 80 pips.

So please close your orders here at 80 pips of profit.

I also closed my 1.68900 sell order from last week here at 200 pips of profit. so I can move on from this pair for a while, unless it gives us a new pattern to trade 😋
overall since last week we have taken 280 pips off this pair alone. which is pretty cool to say the least.

congrats to those of you who took the trade with me.

this one unfoftunately also failed. so I count -15 pips for this one in the weekly count.

#GBPJPY - last week we traded that blue triangle pattern for 100 pips and this week I think we might get to trade this new triangle (red one) its creating.

#AUDUSD - watching - triangle pattern, waiting for a breakout to the upside.

#GBPJPY - watching - triangle pattern, which I believe is going to breakout to the downside, since pound is getting weaker and weaker.

it can go for a 150 pips target after the breakout.

#AUDUSD - it broke out of the triangle to the upside, you can go long either now or after the pullback for an 30 pips target

#AUDUSD - triangle pattern - going for a 30 pips target.

#AUDJPY - H2 - frist target 50pips, and second target which is the midline of superpitchfork is 100pips

#EURAUD - H1 - #update - #EURAUD - H1 - last time I shared it I expected it to go up for 100 pips, it went up for 70 pips and reversed back down and now as you can see it has formed a triangle pattern