#004 DCA EURCAD SHORT
Updated
I just woke up from my hour-long nap and I was awoken from the alert that I set on TradingView regarding my TP level getting hit.
It was on a previous trade on the GBPCHF short which netted me about 40cents SGD.
After the alert, I began looking for setups passively, and scrolling through the Daily Time Frame somewhat, and I saw that EURCAD was dumping, I checked if the 4H, 1H and 15 minutes are aligned with the 60SMA and they are all aligned.
Infact, the 15 Minutes Time Frame's current candle is dumping and I entered on a sell market immediately for 100 units (0.001 lot) with no stop loss.
I proceeded to set all my other sell limit orders for if price goes against me, so that I could sell into my losses.
I am an agent, if someone wants to offload their goods and I can handle that load, I'll do it. LIkewise, if I am offloading and someone on the other end is able to handle it, they will take over my goods.
Of course, all is subject to availability of agents, as well as commissions that would affect our final price.
I think, taking strong dumps or pumps are better than taking price action that is lukewarm like GBPCHF, even though I took profit with it quickly with as little pain as possible, however, I still prefer price action that moves strongly.
So, for now, this is it. I am going to prepare to go out and get my dough through food delivery apps.
1743SGT 19112024
It was on a previous trade on the GBPCHF short which netted me about 40cents SGD.
After the alert, I began looking for setups passively, and scrolling through the Daily Time Frame somewhat, and I saw that EURCAD was dumping, I checked if the 4H, 1H and 15 minutes are aligned with the 60SMA and they are all aligned.
Infact, the 15 Minutes Time Frame's current candle is dumping and I entered on a sell market immediately for 100 units (0.001 lot) with no stop loss.
I proceeded to set all my other sell limit orders for if price goes against me, so that I could sell into my losses.
I am an agent, if someone wants to offload their goods and I can handle that load, I'll do it. LIkewise, if I am offloading and someone on the other end is able to handle it, they will take over my goods.
Of course, all is subject to availability of agents, as well as commissions that would affect our final price.
I think, taking strong dumps or pumps are better than taking price action that is lukewarm like GBPCHF, even though I took profit with it quickly with as little pain as possible, however, I still prefer price action that moves strongly.
So, for now, this is it. I am going to prepare to go out and get my dough through food delivery apps.
1743SGT 19112024
Note
Second Sell Limit has been triggered while I was out working part time as food delivery boy.
2247SGT 19112024
Trade closed manually
Manually exited the two open positions for 38cents SGD and 8cents SGD.
Reasons for exiting is,
1 - I am already in a profit.
2 - Price is going nowhere.
3 - I feel that price has no strength.
4 - I do not want to give back my significantly sized open profits. (Capital protection over profit generation. - Desire To Trade)
1556SGT 20112024
I just went to have my braces tightened, but it doesn't feel tight, though.
But Imma trust my dentist, just like how imma trust mathematics.
Note
Besides the above reasons, I feel that there are better products to buy and sell.
I entered on EURCAD for the fact that it was moving. And now that it has stopped moving, exiting for a quick profit doesn't sound that bad.
1558SGT 20112024
Note
arghhh. I think my TP are going to get triggered without me... :(
I have such situations occur for the previous trades that are DCA based that I haven't start recording for, also. I think I need more experience to tell me if I should exit manually or let price hit, or miss.
1614SGT 20112024
At least I don't lose. - Kei The Japanese Forex Trader(paraphrased)
Note
Price eventually hit my TP without me.
But it's going to be ok.
0002SGT 21112024
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