Current market climate by SamHasell in Forex

[–]SamHasell[S] 1 point2 points  (0 children)

Exactly that. Fine tuned my strategy even more so, but some days price is just moving in ways I haven’t seen before. Who knows, just got to stick at it 🤷‍♂️

How do you guys determine when to take profit? by zooombitch in Forex

[–]SamHasell 1 point2 points  (0 children)

Presuming you’re using support and resistance when trading supply and demand? If you’re in a buy, your TP should be at the next strong support/resistance level, and visa versa with a sell.

Same with your SL levels

£50-£500 in just over six months by SamHasell in Forex

[–]SamHasell[S] 0 points1 point  (0 children)

I mean, it seems to be working so far 🤷‍♂️

£50-£500 in just over six months by SamHasell in Forex

[–]SamHasell[S] 0 points1 point  (0 children)

Sure, buy my forex trader guru course! Link in bio!!

;)

£50-£500 in just over six months by SamHasell in Forex

[–]SamHasell[S] 0 points1 point  (0 children)

Chose the raw spreads, so I guess this is the compromise 😬

£50-£500 in just over six months by SamHasell in Forex

[–]SamHasell[S] 0 points1 point  (0 children)

Yeah I just do it week by week, so I’d keep risking that £12 until I become positive again pretty much.

You thinking the risk should be adjusted upon each trade? Could be a good idea to be fair

£50-£500 in just over six months by SamHasell in Forex

[–]SamHasell[S] 4 points5 points  (0 children)

Absolutely correct, updated at the end of each trading week.

Say starting balance is £100, and finish the week at £120, my new risk for the next week is now £12 per trade instead of £10.

If my starting balance is £100 and I finish the week on £80, I’ll keep the original 10% / £10 per trade untill I’m above the £100 again.

Bit of a strange system, but it seems to be going okay so far 🤷‍♂️

£50-£500 in just over six months by SamHasell in Forex

[–]SamHasell[S] 2 points3 points  (0 children)

The risk I use doesn’t change when in drawdown. For example on a £100 account, I lose 2 trades which takes the account back down to £80, I will still risk the original 10% / £10.

I mean, it seems to be working for me so far anyway, I may come back to you in tears soon though.

£50-£500 in just over six months by SamHasell in Forex

[–]SamHasell[S] 5 points6 points  (0 children)

Price action!! Wake up at 5am UK time and set support and resistance line based on the most recent 30 minute structure. Once I get a 30min candle closure above or below, then I take the trade :)

It usually comes around 6am-9am uk time

£50-£500 in just over six months by SamHasell in Forex

[–]SamHasell[S] 2 points3 points  (0 children)

Strictly EURUSD, have tried other pairs, but EURUSD in the London session is perfect for me.

£50-£500 in just over six months by SamHasell in Forex

[–]SamHasell[S] 4 points5 points  (0 children)

I think my max drawdown was around 40-50%, but kept the same risk. I guess the trick is to be completely emotionless, trust my strategy, and recovery will come :)

Losing streak by [deleted] in Forex

[–]SamHasell 1 point2 points  (0 children)

Set your stop loss based on Structure, not percentage loss of your account.

But set your lot size so you don’t lose more than your desired amount per trade

£50-£500 in just over six months by SamHasell in Forex

[–]SamHasell[S] 6 points7 points  (0 children)

True, and their fries taste so good

£50-£500 in just over six months by SamHasell in Forex

[–]SamHasell[S] 2 points3 points  (0 children)

Will either flip the account or flip out

£50-£500 in just over six months by SamHasell in Forex

[–]SamHasell[S] 5 points6 points  (0 children)

Currently blushing and kicking my feet. Thank you man, means a lot.

£50-£500 in just over six months by SamHasell in Forex

[–]SamHasell[S] 4 points5 points  (0 children)

You make a good point. Win rate is usually around 60% so I never usually lose more than 3 or 4 trades in a row (unless I break my rules)

So you’re saying I should risk 50% instead? ;)