EUR/USD Live Reversal Trade Video (+34 pips)

Hey Guys,

Technically speaking, this is not a live trade video. (I started shooting this video after midnight. By the time the trade was triggered at 6:45am I was sleeping. So this trade was auto-entered by an entry order and auto-closed by an exit order. I still spent time explaining why the trade would work so I thought I would post it.

Check out the video below.

[vid link=”https://www.forex4noobs.com/wp-content/incs/videos/live-trades/eu-28sep10.flv” width=”640px” height=”480px”]

Leave a Reply

Your email address will not be published. Required fields are marked *

11 thoughts on “EUR/USD Live Reversal Trade Video (+34 pips)
  1. Nick,

    Just wondering, how much risk did you take on that trade? Where did you place your stop loss? Why did you pick that spot for a stop?

    Thanks

    1. @mugged:

      I used a 28 pip stop (1.3452) on this trade (sorry forgot to mention it on the video will re-shoot the video now.)

      This may seem like a large stop and it is. However, this time it is warranted because I had to place the stop beyond the psychological level at 1.3450. If you place it before the psych level you run the risk of having the price pushing back up and hitting the psych level only to reverse.

      Most of the time I try keep my stop 50%-75% of my target.

      I have always said that if you plan to win 80% of your trades you can afford large stops.

  2. Nick, there seems to be a reversal candle with a nice pattern just before your reversal pattern — is there any reason why you did not mention it?

  3. I like the video but when did you start sleeping? It could also be played as a channel breakout with all the indescison candles lined up it was bound to pop up or down.

  4. Hi I just wonder why you buy against the trend ?
    In my expirience it very risky way of trading to buy on sr breaks.
    Why not buy when price breaks back up thrue your 1.34249 resistance (Former support :) and candle confirms its just a bounch af the trend line ?

  5. Love these live trave video’s Nick. Great to see the details and thinking behind your method as opposed to the staright facts. Many thanks.

  6. I would like to know, how much was your SL compare to your Profit.
    Because I am sure you agree this is pretty important when entering a trade!
    mea

    1. @mea:

      It is definitely important. I answered this question already though, it was posted a few comments above this one.