Setup on Trading

wanorbit

Master Trader
Oct 11, 2010
393
12
49
Hi,

Just a point of notice on trade setups, never enter a trade if your setup has already begun and you missed it several hours ago, i noticed that once setup has been missed and even in your setup favour, alot of variations will occur "market ups and downs" so if you do not have a sizeable balance, do not enter else you would be closed out in those variations.

Fight for another day, wait until you have another setup confirmation before you enter the market again, forex can sometimes be slow in making profits, but its better than being closed out and losing money.

Feel free to ask me questions on this matter.

Cheers!
 

wanorbit

Master Trader
Oct 11, 2010
393
12
49
good question, i mostly would not enter a trade late if i missed my setup, but sometimes i do if my account balance can take the risk in areas of still having a good balance if the setup is going negative during that trading session, if not having a good sizeable account balance, even though the trade might go in favour at a later session, entering late with high lot sizes can get a small balance account closed out in areas of higher highs and lower lows swings then a retrace, small account balances can be closed out in those swings before the retrace in the late enter trade of that setup..

feel free to ask me to illustrate technical if required to..thanks