Hey guys,
This trade sucked. It broke the line and it looked very good to start off with but the further the trade progressed the more erratic it became. Once I saw the reversal candle on the 15min chart I closed this trade out….. check out the video:
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{ 18 comments… read them below or add one }
Hey Nick-o
Thanks for coming into the room tonight to tell us you had closed this one out.
I was uming and ahing over this one so appreciated your call to get out.
Cheers
twinks
(see, i can be nice to an aussie ;) )
Ok, this is a SET UP
Nick has made it so that I always get the monster with the taped mouth!!!
It’s kind of like the boy who always picks on you at school cos he secretly likes you …..
Good defense Nick!
I wasn’t so fortunate.
It’s cool though, I had another trade on so my position was smaller anyway.
There’ll be plenty more!
Nice one to view live, glad you at least got out positive.
Roll on the next one
Luckily I got 24 pips on this one. Enter at 95, closed at S1 pivot. Just luck, nothing more.
Thnx for the video Nick.
didnt anyone enter at the first break? im using ibfx and it went down to 158.89 on the first break…reversed immediately
it was a good trade in the end. You could have made 100 pips on it
Hey nick, like most of you guys i dropped out of this one pretty early, just checked it a few minutes ago and it was right around the 158.10 level, but im happy with taking my 12 pips, and running, has me at a nice 133 pips for the week so far
It was educational to watch how you handled this trade. The live videos are great because we can follow and learn from your thought process. Thanks again Nick!
Nick thanks for the video, they are very helpful,gain or loss
best
Damien
Thanks for the vid of the live trade and the commentary. Would like to see more.
This is the most useful site I’ve found for forex. Keep up the good work.
Do you always trade 6 lots?
I’m encouraged to see that I was thinking about getting out around the same time as you- after seeing that big doji on the 15 min chart. But I decided to sit it out (easy for me as I’ trading peanuts for now).
Anyway, thanks for the video!
Ok, here is a question (probably asked before, but still).. in heinsight it is apparent that the price did sink well through that scalp at 158.95.. Do you enter again after 1 failed attempt or is the line discarded after the first try?
Excellent video by the way. Its good to see failed trades and how you handle it. Very decisive and firm. Excellent :)
Yes, thankyou for showing not so good trades too! They are great for learning on when to pull the rip cord and jump out..thanks for your effort.
Nick,
next time close your trade out first then tell us about it LOL. I see once you sense a trade is going wrong you bail. Good video and an honest one too.
Thanks for the video Nick. Wonderful stuff.
Hi Nick,
Great video and very helpful!
Thanks for pulling this out!
Cheers mate,
MiG
Good call it was a pretty obvious break if you use the method. What wasn’t so obvious was how low it would go. It took a long, long time to move down. This was the mother of all DBOs in case anyone wonders if DBO works. It does but as FA says watch those support and resistance lines.