Profit / loss analysis and trading talks

I opened a buy on EUR/USD at 1.08776, aiming for an upward move. For this trade, I didn’t set a stop loss but instead drew a red line at 1.08586, where the stop loss would ideally be. By doing this, I had a clear mental threshold without enforcing a strict limit, giving me the flexibility to stay in the trade despite some volatility.

The market after little drawdown moved favorably, and trade was closed on take profit price at 1.08937, securing a profit of $3,220. If I had set a strict stop loss at the red line, I would have been stopped out prematurely and incurred losses. This approach of using a visual stop loss allowed me to avoid unnecessary exits and capitalize on the market’s eventual rise.

Raven1209 posted:

MarcellusLux posted:

Ollie33 posted:
Hi,
my short analysis: unfortunately, I had to take a loss before the holidays and accept the fact that I believed in further growth of the euro dollar when it reached a bright high at Friday. The Fibo showed a good opportunity to reach 1.1100, the level of 1.10300 was passed quickly, but I was too optimistic for the holiday market.
Anyway I remain positive and wish you have a great time these days.

I agree that a new highly probable case is now available: reaching the level of 1.11000 that you mentioned.
I would pay attention to the weekly EMA 200. The line was reached and the price even went higher, but it was an uncertain and weak breakout, which can be considered false. Therefore, this level (1.10140) will be a marker for further buy trading. The long term MACD indicates growth while the short-term hourly and four-hour MACD are in a rather unstable, intermediate position. This may mean that the correction has a chance to continue within one day, at least to 1.1000.
I would also pay attention to the midway resistance level 1.1070, which may become an unpleasant surprise for those who decide to enter the market too late.

It's a smart move to consider these intermediate resistance levels, as they often catch traders off guard. Does anyone have a strategy for dealing with such midway resistance points in their trading?

Yeah I usually just reduce position size and then add it back if needed. Basically it is dynamic position management

RrrubR posted:

lexusxxx posted:

MarcellusLux posted:
LUX trading today was quick and didn't follow any long term goals. The task was to catch the minimum impulse after the impact of key historical levels.
The EUR/USD was close to continuing to rise and I was ready to accept some drawdown, but the sell chosen due to a clear MACD signal on the 30-minute chart and a high RSI level in the overbought zone. The price was not ready to break through the key level of 1.08800 and consolidate for further testing of 1.08900.
The GBP/JPY is currently in a very promising position for continued growth. But I was not ready to hold the position for a long time, fearing the psychological aspect and the growth cancelling due to the approach to 70 RSI and the long term developing MACD divergence, which can be seen on the hourly chart. I opened a short-term position after several attempts to break through the 200.400 and MACD signal with a move to the positive value zone on the 15-minute chart. However, the important fact is that after breaking through the 2015 high key level at 196.00, GBP/JPY has not been at its current price level above the 200.00 mark since 2008.

If you look in the short term, the pair reached the level of 200.00 and began a slight rebound downwards. But in the future I am betting on the growth of the GBPJPY.

It feels like you trade without using indicators at all. How do you trade without indicators??

I suppose your question is not addressed to me. But know, I trade with an EA. And there are 100% built-in indicators. 😄😄

Oscar555 posted:

Gert12 posted:

ChaKie posted:

MarcellusLux posted:
LUX trading today was quick and didn't follow any long term goals. The task was to catch the minimum impulse after the impact of key historical levels.
The EUR/USD was close to continuing to rise and I was ready to accept some drawdown, but the sell chosen due to a clear MACD signal on the 30-minute chart and a high RSI level in the overbought zone. The price was not ready to break through the key level of 1.08800 and consolidate for further testing of 1.08900.
The GBP/JPY is currently in a very promising position for continued growth. But I was not ready to hold the position for a long time, fearing the psychological aspect and the growth cancelling due to the approach to 70 RSI and the long term developing MACD divergence, which can be seen on the hourly chart. I opened a short-term position after several attempts to break through the 200.400 and MACD signal with a move to the positive value zone on the 15-minute chart. However, the important fact is that after breaking through the 2015 high key level at 196.00, GBP/JPY has not been at its current price level above the 200.00 mark since 2008.

Interesting take! rsi, macd, and ema are classic combinations of indicators that help achieve good accuracy in trading.

Are there any other combinations of indicators?

I think there is no point in trying to justify market movements with meaningless lines when movements are caused by specific events in the political and economic arena.

Of course, if you try to justify market movements with indicators, it will not work. Indicators are designed to collect, summarize and present data as an abstract model (lines, levels, grids, etc.) for better understanding and analysis. Indicators are not a prediction of the market, but an interpretation. Therefore, you are in vain rejecting their usefulness, because even when trading on news, they can become useful for more correct price analysis.

Raven1209 posted:
I opened a buy on EUR/USD at 1.08776, aiming for an upward move. For this trade, I didn’t set a stop loss but instead drew a red line at 1.08586, where the stop loss would ideally be. By doing this, I had a clear mental threshold without enforcing a strict limit, giving me the flexibility to stay in the trade despite some volatility.

The market after little drawdown moved favorably, and trade was closed on take profit price at 1.08937, securing a profit of $3,220. If I had set a strict stop loss at the red line, I would have been stopped out prematurely and incurred losses. This approach of using a visual stop loss allowed me to avoid unnecessary exits and capitalize on the market’s eventual rise.

I really like your trading style. From my inexperienced point of view, your strategy with imaginary stop losses seems to deliver real results, and you prove it. I would like to see more of your trade analysis if possible.

Good point well made. People use indicators as signal providers but they are nothing of the sort.

Gert12 posted:

Raven1209 posted:
I opened a buy on EUR/USD at 1.08776, aiming for an upward move. For this trade, I didn’t set a stop loss but instead drew a red line at 1.08586, where the stop loss would ideally be. By doing this, I had a clear mental threshold without enforcing a strict limit, giving me the flexibility to stay in the trade despite some volatility.

The market after little drawdown moved favorably, and trade was closed on take profit price at 1.08937, securing a profit of $3,220. If I had set a strict stop loss at the red line, I would have been stopped out prematurely and incurred losses. This approach of using a visual stop loss allowed me to avoid unnecessary exits and capitalize on the market’s eventual rise.

I really like your trading style. From my inexperienced point of view, your strategy with imaginary stop losses seems to deliver real results, and you prove it. I would like to see more of your trade analysis if possible.

Thanks for the kind words! I'll try to do more analyses, but it really depends on my trading pace. I tend to trade at a slower rate, focusing on monthly profit. If my trades are successful, there are fewer of them; if not, I might trade more, but always with caution. I'll keep up with the analysis as much as possible.

ScoutQueen posted:
Good point well made. People use indicators as signal providers but they are nothing of the sort.

Oh indicators will help predict further movement. But anything can happen. And a signal is a signal. lol.

You dudes say that as if indicators are of no use at all. Although this is not true. Moreover, I do not understand traders who do not use indicators in their trading at all.

Cap_Marshal posted:
You dudes say that as if indicators are of no use at all. Although this is not true. Moreover, I do not understand traders who do not use indicators in their trading at all.

Oh I believe, Cap, you misunderstood us. No one says that indicators are useless. On the contrary, thanks to them you have the opportunity to analyze the market and think about where to open an order and where the market will move, up or down (I'm explaining it to you as simple as I could). LOL.
But the interpretation of indicators can be false. There can be false market movement. And we can go on forever.

Hi. How often do you update the system?

Has anyone traded the Euro Dollar on these days or perhaps done some analysis? I see that the market continues its downward trend, but I have doubts that the market will fall below 1.07100. That being said, I wouldn't want to miss a good opportunity to sell. There is also a risk that, as earlier on June 12, the market will make a sharp growing impulse and I will simply go to stop loss.

Hi, in my opinion, there will be an upward correction of EUR/USD, the economic announcements from the USA are all negative.

Gert12 posted:

Raven1209 posted:
I opened a buy on EUR/USD at 1.08776, aiming for an upward move. For this trade, I didn’t set a stop loss but instead drew a red line at 1.08586, where the stop loss would ideally be. By doing this, I had a clear mental threshold without enforcing a strict limit, giving me the flexibility to stay in the trade despite some volatility.

The market after little drawdown moved favorably, and trade was closed on take profit price at 1.08937, securing a profit of $3,220. If I had set a strict stop loss at the red line, I would have been stopped out prematurely and incurred losses. This approach of using a visual stop loss allowed me to avoid unnecessary exits and capitalize on the market’s eventual rise.

I really like your trading style. From my inexperienced point of view, your strategy with imaginary stop losses seems to deliver real results, and you prove it. I would like to see more of your trade analysis if possible.

LOL