It's Never too Late to Catch the RollerCoaster
From our analysis of this pair from yesterday, we had a prediction of this pair melting all the way down to hit the Daily Liquidation Target.
For those of you who were able to catch the trade from when i sent out the setup, thumbs up to you as you sure have made a good 1:25 RRR on the trade so far, if you trade with tight spreads like i do.
But for those who didn't, what can i say? Should i say sorry you missed the train. Better luck next time? That is definitely one way around it. But more there is sure is another way around it this time. More often than not, the market afords us an opportunity to enter on or join an already moving trend. This is done when the market gives pullbacks/retracements.
All you have to do is time your entry. It just like surfing the waves on the ocean; you miss one, you get ready for the next.
For those of you who were able to catch the trade from when i sent out the setup, thumbs up to you as you sure have made a good 1:25 RRR on the trade so far, if you trade with tight spreads like i do.
But for those who didn't, what can i say? Should i say sorry you missed the train. Better luck next time? That is definitely one way around it. But more there is sure is another way around it this time. More often than not, the market afords us an opportunity to enter on or join an already moving trend. This is done when the market gives pullbacks/retracements.
All you have to do is time your entry. It just like surfing the waves on the ocean; you miss one, you get ready for the next.
Trade active:
So we took this trade. But I made a slight variation in placing my StopLoss level. Applying the Panzy Pips education, I was able to refine my zone to a much smaller one, which gives me a 1:23 RRR on the remainder of the trade.
Trade is now in profit, having moved 1:3 R already.
I am pleased to announce to you that I have moved my stop loss to Break Even trade and am now completely risk-free on this trade.
We can now walk away from the charts to get busy on some other concern and leave the trade to make us rich.
NOTE: Not everyone will be able to catch such a large RRR on this trade. It comes with acquiring superior and in-depth knowledge of how markets operate.
So we took this trade. But I made a slight variation in placing my StopLoss level. Applying the Panzy Pips education, I was able to refine my zone to a much smaller one, which gives me a 1:23 RRR on the remainder of the trade.
Trade is now in profit, having moved 1:3 R already.
I am pleased to announce to you that I have moved my stop loss to Break Even trade and am now completely risk-free on this trade.
We can now walk away from the charts to get busy on some other concern and leave the trade to make us rich.
NOTE: Not everyone will be able to catch such a large RRR on this trade. It comes with acquiring superior and in-depth knowledge of how markets operate.
Comment:
The trade has continued to progress, and we are full-out with our trade management set.
The target is still the daily liquidity target. Following our trade management rules, we had long broken Even on this trade. We have also moved on to take partials of our profits along the way.
With good knowledge of the forex markets, it can only get better.
The trade has continued to progress, and we are full-out with our trade management set.
The target is still the daily liquidity target. Following our trade management rules, we had long broken Even on this trade. We have also moved on to take partials of our profits along the way.
With good knowledge of the forex markets, it can only get better.
About this trade, it is obvious we are coasting smoothly on it. Locking in profit very early yesterday, we have continued to exercise proper trade management with this position. I have taken my first partial on this trade at 1:8 R. I am willing to go all the way to the daily Liquidation target as shown on the charts.