2nd Forex Trade Silver vs Aussie Dollar

This is an example of missing to check all time frames before entering a trade. I entered only by seeing the weekly chart and didn’t fine tune my entry by looking at daily chart. This is the weekly chart. A very good pin bar is formed and candle has crossed the emas. though I must have entered at the close of the pin bar and that would be a much better entry. This is the daily chart and as it’s pretty obvious, there is no signal present. and as daily is my main time frame, I made a deadly mistake taking this trade. Stop loss is under the pin bar and take profit is double the stop loss at 61.6% of Fibo Retracement: Today is 09-Feb-2017  After One Week, as you can see, price has moved to my favor but still not break even. Look at the daily chart: As…



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Forex 1st Trade in Gold

This is a trade I took in daily time frame in XAUUSD or Gold vs US Dollar. This signal was generated by my first system. The entry signals are as follows: 1. Candle must open above both ema=3 and ema=8. 2. Candle must close below both ema=3 and ema=8. 3. Stochastic (14,3,5) must be in Overbought area and crosses down. Upon opening next candle, I entered. Stop Loss was at High of the Candle that crossed emas. The R/R is 1/3. I entered again at the break of candle below both emas in H4 timeframe. But, the candle formed a pin bar. Trade Conditions:  1. Signal Accuracy: 90%. I entered exactly as the signals, but a little bit late. I was not at my computer when the next daily candle opened.2. 2. Money Management: I entered with one lot and with 100 pips stop loss, it’s $1000 risk to my…



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