I am one of these amateurs who supposed to lose all the money in forex. I never get it right. I accidentally hit a buy instead of sell last week and that was my only profitable trade. I am really contemplating just doing opposite of what i feel like, i.e. buy instead of sell, sl and tp switch. But then my mind will play tricks on me and I will lose anyway. So looking over my near-perfect loosing all and every trade, I think of trying the following:
Keep using same ta, bs indicators, autochartist signals or traders sentiment, BUT:
Instead of entering lets say short at market, place a short entry order(sell limit) at half ADR above current price(reverse for long). In unlikely case that the initial analysis was right, I will simply miss the trade which is better than what I usually do which is loose money. In case I was wrong and entered countertrend as always, I will be half-ADR less in the red. What I am aiming for is I will enter more near where I should enter according to what went wrong with previous trades- they almost always go where I predict but not before hitting SL or margincalling. This entry adjustment will save drawdown and increase green pips. So starting next week I will try doing this on multiple pairs and see what happens. I will never Never NEVER trade against higher TF trend either. So what I'm trying to say, market tends to overshoot my entries and exits which would be good calls otherwise, if they were made at different price level- and I think this entry adjustment method could remedy it.
Thoughts?
Keep using same ta, bs indicators, autochartist signals or traders sentiment, BUT:
Instead of entering lets say short at market, place a short entry order(sell limit) at half ADR above current price(reverse for long). In unlikely case that the initial analysis was right, I will simply miss the trade which is better than what I usually do which is loose money. In case I was wrong and entered countertrend as always, I will be half-ADR less in the red. What I am aiming for is I will enter more near where I should enter according to what went wrong with previous trades- they almost always go where I predict but not before hitting SL or margincalling. This entry adjustment will save drawdown and increase green pips. So starting next week I will try doing this on multiple pairs and see what happens. I will never Never NEVER trade against higher TF trend either. So what I'm trying to say, market tends to overshoot my entries and exits which would be good calls otherwise, if they were made at different price level- and I think this entry adjustment method could remedy it.
Thoughts?
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