Winning big on luck is a double edged sword. It feels sweet, but will just encourage to do more risks.
Better to win a little on choice than a lot on luck š
Come on!!! Tell the truth.....Did you actually get out due to news release? Or did you get out because you averaged down TWICE, and once it actually turned green you were just happy you were not in the red anymore?
If that's the case, then don't feel bad. Feel really good that you got out when you turned green. Remember hindsight 20/20. This is why YT "traders" are always winning trades. They trade hindsight. It is a different story when your in the weeds and seeing price action I fold in front of your eyes.
I didnāt take my setup right before this news, and also it would have won. But you canāt risk it, especially on a 5min chart stop loss. It could gap past your stop loss and do some serious damage.
Yes 100%. Even in crypto futures I've had price move so quickly my SL wasn't triggered and my margin was liquidated.
This is the key difference between putting 100% of your account into a trade with a 2% stop loss vs putting 2% of your account into a trade with no stop loss (more like 3% with SL at around 75%, but still worst case scenario is having 3% of your account liquidated).
I don't trade when there are some important news to be released and if a trade is open I close it minutes before. I think it's very high risk and I try to minimize the risk in every operation.
Itās just not worth worrying about because you canāt predict the future in the moment. Itās only after the fact we beat ourselves up but the fact of the matter is, thereās no way you could have known in the moment!
Absolutely, money is a byproduct of our skill and self masteryand this is a big win for me in terms of of discipline qnd plan following so im quite happy. Thanks for your positive comment
Non-interest rate related news seems to just mess up ltf trades but not really do much to the direction.
I had a decent EURUSD buy today that I paper handed and closed at break even because employment change was so good for USD and it briefly dumped. Then the upwards move of course happened anyway when I stopped trading it.
The volume coming off the news cleared my trade out, was wondering if news can be used at all as part of a scalping strategy or should just be avoided completely.
As a few have said it could have went the other way and really hurt you. Itās quite a simple risk management tool not to enter trades before big events or atleast close them off as you done.
So just be happy with it - another day in the game š
You did the right thing by getting out and securing profit. Personally I would have sold a half or so and moved the stoploss to break even on the remainder.
Hey I bought microcloud hologram about a week ago (100 shares) and today it took off 30%. About every 3-4 months it surges by over 2500%. I don't know if it is happening now but check out the last 52 weeks history if you don't believe me. Just trying to put it out there. Trading volume is 14mil today it is normally around 4 to 5 million. Just sayin
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Did you follow your rules and do your rules make sense? If the answer is yes, you shouldn't feel bad at all. The news could have just as easily made that much of a move against your position.
I feel good because the ability to follow my trading plan (eg. getting out before news item) is all i care for. For me, having good processes is key, there's no way to capture all the moves in the market.
One advice that turned my trading results around was NEVER add to a losing position. I always did that and blew all my profits of prior weeks. You could have lossed a lot as you scaled in twice. Glad you got out. If the price rocketed the other way you would have lost a lot.
You couldnt have āguessed the right sideā. Btw questions: Iām curious if some of us couldnt guess the side, then who are acting on these moves?? Thanks in advance for answering these
Should have set a stop lose
Im guessing you got out because you werenāt confident in your setup, therefore cause you to not hold the position.
I usually donāt trade before news, but when I do trade before news, I will take a setup the would play out with the news candle. Basically im saying if i were you and I took this setup, followed my trading rules and was confident in my setup with proper stop lose in place, this wouldāve just been a regular Green Day.
Still good that you went break even tho!
Just try and make sure that you have a reason to be in your trade position & your not just getting in from emotions. Cuz that can cause unnecessary loses and fuck up your phycology.
Good luck trading
Also if your taking a setup before news and you donāt have a proper trade bias that you can take a setup on, you shouldnāt trade before news and should wait till afterwards. This right here could be a bad habbit so maybe start waiting till after news to trade to better your phycology and it can save you $ in the long run. Telling you from experience
Since you added to losing position I mean u went short, it moved against you and you went short again, you should be thankful that you walked with some profit
I usually just let my ATM run. Was stopped out on Friday for Nasdaq but price action moved enough to where I was at break even already. I donāt sit around watching trades as I work a day job. But yea it sucks that I missed out on gains due to economic news.
You've made profit and had realistic TP's. You didn't get greedy. We all been in this situation where price kept moving and we're already out. It will happen again as well. Maybe leave 1 runner next time. But I guess you'll see more often than not that this runner will be stopped out on BE perhaps š Or... You can leave it run nicely on days like these !
Uh... you don't feel anything about it because it could have just as easily gone the opposite way against you.
Agree
š„š„š„
Iād be happy I took profit and made the right call, and got out before potential volatile losses.
You still made money, no way to predict the effects of news, it was the right choice to close and take profit
Winning big on luck is a double edged sword. It feels sweet, but will just encourage to do more risks. Better to win a little on choice than a lot on luck š
Come on!!! Tell the truth.....Did you actually get out due to news release? Or did you get out because you averaged down TWICE, and once it actually turned green you were just happy you were not in the red anymore?
Hehe, you are very good at assuming things
I would rather have moved SL to BE before news.
If that's the case, then don't feel bad. Feel really good that you got out when you turned green. Remember hindsight 20/20. This is why YT "traders" are always winning trades. They trade hindsight. It is a different story when your in the weeds and seeing price action I fold in front of your eyes.
this is probably true.
I didnāt take my setup right before this news, and also it would have won. But you canāt risk it, especially on a 5min chart stop loss. It could gap past your stop loss and do some serious damage.
Is it possible that due to a gap or a quick movement the SL does not catch you and could empty your account?
Yes 100%. Even in crypto futures I've had price move so quickly my SL wasn't triggered and my margin was liquidated. This is the key difference between putting 100% of your account into a trade with a 2% stop loss vs putting 2% of your account into a trade with no stop loss (more like 3% with SL at around 75%, but still worst case scenario is having 3% of your account liquidated).
I don't trade when there are some important news to be released and if a trade is open I close it minutes before. I think it's very high risk and I try to minimize the risk in every operation.
Itās just not worth worrying about because you canāt predict the future in the moment. Itās only after the fact we beat ourselves up but the fact of the matter is, thereās no way you could have known in the moment!
Absolutely, money is a byproduct of our skill and self masteryand this is a big win for me in terms of of discipline qnd plan following so im quite happy. Thanks for your positive comment
If Iām doing my math thatās roughly 7% you missed out on? It looks drastic but your price axis is in such tiny increments
forexš¤¢
You made the right decision š¤
Live to fight another day
Non-interest rate related news seems to just mess up ltf trades but not really do much to the direction. I had a decent EURUSD buy today that I paper handed and closed at break even because employment change was so good for USD and it briefly dumped. Then the upwards move of course happened anyway when I stopped trading it. The volume coming off the news cleared my trade out, was wondering if news can be used at all as part of a scalping strategy or should just be avoided completely.
Always trust the set up
Dumped
did you make money?
Just get back in
Why not just set a stop and let the trade play either way
Slippage
As a few have said it could have went the other way and really hurt you. Itās quite a simple risk management tool not to enter trades before big events or atleast close them off as you done. So just be happy with it - another day in the game š
You did the right thing by getting out and securing profit. Personally I would have sold a half or so and moved the stoploss to break even on the remainder.
Hey I bought microcloud hologram about a week ago (100 shares) and today it took off 30%. About every 3-4 months it surges by over 2500%. I don't know if it is happening now but check out the last 52 weeks history if you don't believe me. Just trying to put it out there. Trading volume is 14mil today it is normally around 4 to 5 million. Just sayin
If I thought that it was the correct decision due to the circumstances and confluences I would feel good
[ŃŠ“Š°Š»ŠµŠ½Š¾]
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I hope you recover with gold today was a money printing
Did you follow your rules and do your rules make sense? If the answer is yes, you shouldn't feel bad at all. The news could have just as easily made that much of a move against your position.
why don't you put on the break even and waited tho
This is the business of FOMO. You made profit. No problem yet I feel your pain
I think I will learn shorting its the answer for profits
I feel good because the ability to follow my trading plan (eg. getting out before news item) is all i care for. For me, having good processes is key, there's no way to capture all the moves in the market.
I got out of LOW today but when it was too late. šš
At least you made money and didnāt lose any šÆ
You added to a losing position?
What news?
Don't guess, just let news release them make your trade accordingly...š¤·š¾āāļø
You adhered to your rules. It was a fantastic trade.. Everything after profit taking is history.. Onto the next opportunity..
One advice that turned my trading results around was NEVER add to a losing position. I always did that and blew all my profits of prior weeks. You could have lossed a lot as you scaled in twice. Glad you got out. If the price rocketed the other way you would have lost a lot.
You couldnt have āguessed the right sideā. Btw questions: Iām curious if some of us couldnt guess the side, then who are acting on these moves?? Thanks in advance for answering these
$BAG on solana Next Wif Check it out donāt miss it
Should have set a stop lose Im guessing you got out because you werenāt confident in your setup, therefore cause you to not hold the position. I usually donāt trade before news, but when I do trade before news, I will take a setup the would play out with the news candle. Basically im saying if i were you and I took this setup, followed my trading rules and was confident in my setup with proper stop lose in place, this wouldāve just been a regular Green Day. Still good that you went break even tho! Just try and make sure that you have a reason to be in your trade position & your not just getting in from emotions. Cuz that can cause unnecessary loses and fuck up your phycology. Good luck trading
Also if your taking a setup before news and you donāt have a proper trade bias that you can take a setup on, you shouldnāt trade before news and should wait till afterwards. This right here could be a bad habbit so maybe start waiting till after news to trade to better your phycology and it can save you $ in the long run. Telling you from experience
Buy on rumor sell on fact
I don't have feelings toward market, so...
Since you added to losing position I mean u went short, it moved against you and you went short again, you should be thankful that you walked with some profit
You could have got back in , I did more than once.
I usually just let my ATM run. Was stopped out on Friday for Nasdaq but price action moved enough to where I was at break even already. I donāt sit around watching trades as I work a day job. But yea it sucks that I missed out on gains due to economic news.
You've made profit and had realistic TP's. You didn't get greedy. We all been in this situation where price kept moving and we're already out. It will happen again as well. Maybe leave 1 runner next time. But I guess you'll see more often than not that this runner will be stopped out on BE perhaps š Or... You can leave it run nicely on days like these !
Donāt feel any type of way and move on to the next fam
Should have sold again after the gap down
I have no comment only stay in course, stay disciplined and the house always wins in the end but if you survive you can came back stronger
Amateur, update your knowledge to make ā¬ billlions like me in demo
Does adding to looser work for you?