I caught this drop

Ngl, I wish I would have held longer.
.05 lot size, about 70 pips. That was around $20 or so.
Pair Nzd/Jpy

Challenging myself to grow a $15 account. Sitting at about $36 now. I have 2 other bigger accounts and took the same trade. Looking at growing it to about $80 by the end of the week. I’m in between a day and swing trader.

I’m trying to learn how to trade. If you wouldn’t mind, I’d love to know how you saw this.

Sam said:
I’m trying to learn how to trade. If you wouldn’t mind, I’d love to know how you saw this.

Yep yep. I’ll put it in steps to make it easier.
2 indicators: 50 EMA + MACD

MACD helps me see divergence to determine the trend.
I only look for the trend on 2 time frames: 1H, 4H. The 50 EMA also helps me determine the trend and is used as confluence.

Step 1:
Look for a visible trend on the 4H. If it is not visible on the 4H, go to the 1H. If it is not visible there as well, don’t trade. If the trend is visible based on the 1H, wait for price to break that trendline.

Step 2:
If price breaks that trend line, wait for price to close below the 50 EMA, retrace above the EMA, then close below the EMA again. Depending on the direction of the trend that is.

Step 3:
Once it closes, get in for a trade. I usually have a 20 pip SL just to leave room for price to do its thing. TP should be the previous high or low, (depending on the direction of the trend).

If you need a visual, let me know. But based on the pic you should be able to see what I am talking about. Let me know. Btw engulfing makes the trade more high probability.

Should have trailed your stop loss and stayed in. Damn great stuff! I caught one on there too, looked like the same one.

Bran said:
Should have trailed your stop loss and stayed in. Damn great stuff! I caught one on there too, looked like the same one.

Yes :joy: I was thinking that, but it was late and I just wanted to go to bed. But next time I’ll trail it!

Should have stayed in, that’s a retest of the High of the year!

Dana said:
Should have stayed in, that’s a retest of the High of the year!

Honestly, I wasn’t expecting that. So I was surprised to see it go that low.

Yo bro, can you tell me what broker you use and platform? I’m also trying to grow a small account.

Zeph said:
Yo bro, can you tell me what broker you use and platform? I’m also trying to grow a small account.

Of course, I’m using the broker Envifx.