Hello Mazibee,mazibee wrote: Tue Feb 11, 2025 11:18 am First of all, I want to thank everyone in this forum, especially in this thread.
Special thanks to Mister XARD for his strategies, I am exteremly grateful to him for sharing his knowledge here.
Special thanks to Master Curioso for his detailed explanations and for trying his best to help new traders grasp the concepts.
Today I took a my first step , It was My First Trade:
I took this trade before leaving for the office today, setting both the Take Profit (TP) and Stop Loss (SL) in advance, as I cannot monitor my trades during the day due to my daily routine. Unfortunately, it hit the Stop Loss, and the trade ended.
I'm looking for suggestions on how I can improve.
Even though I’m in the UK, my job timings mean, that I miss the entire UK session and most of the active US session. I also considered and was suggested by worthy members to trade during the Asian session, but since I have to leave to work by 08:30 AM, that isn't a viable option for me.
Trade Details are as follows, I have attached screenshot of chart (with the trade plotted) and calculator
Risk: 5%
Entry Price (EP): 1.03192
Stop Loss (SL): 1.03000
Pair: EUR/USD
Lot Size: 0.26
I have used this for calculation of lot size = 50 / ((1.03192-1.03000)*100,000)
I’m also using Mister Xard’s calculator, where I entered $1000 as the balance and 5% target. However, calculation showed Lot size 1, which is approximately four times higher than 0.26) . Seems like I might be missing something here also
I’d really appreciate any suggestions from Master XARD, senior / experienced traders, especially those who are in the same time zone and are balancing both a full-time job and trading.
Thanks once again.
Mazi
Your entry (red verticle line) is not terrible. You have a SquareArrow and a 2 dot medium size sema pattern, this shows that you understand the idea. But it is the approach taken that found trouble.
IMHO, a Square>>>medium dot pattern is not the strongest pattern. It is a trade I have taken and will take in the future. But that pattern is not one I would take unattended. I would treat that set-up with a quick scalp mentality.
The preferred pattern is outlined in the red box...your original SquareArrow up>>>down arrow>>>up arrow>>>2 dot medium semafor pattern.
This is the pattern that all folks new to Xard should look for and find understanding. It is the bread and butter set-up for all Xard charts. Screen time is an issue and I deal with it as well. But I will never go to work with a SL-TP trade on anything less than an A+ set-up. There is a time and place for the set up you took, but it is with you available to exit when an opposite signal appears.
Keep it up though, you'll be teaching us all things soon enough
