The buy stop order was placed in anticipation of a break of the ceiling.
The sell stop order was placed from the first bar of the range with a trio stop order.
The result was that both were hit and lost before I knew it.
This time I did not (buy) because there was another high to the left near the ceiling,
Should I have put the sell entry position further away as well?
I re-entered the sell stop order at the second position.
It seems I am not good at reading the pulse of the market. Let me clear my head.
Here is the chart. If you place a limit price where the price is rising and the price range itself is narrowing, your stop tends to get hit.
The price movement is moving about 200 pips, such as this long bull. If the price is moving too fast for the
It is moving significantly as a result of an indicator.
When there is no particular indicator, the price is in a range state like this.
First, we ask you to look at the calendar to see if there are any upcoming indicators.
This is the GBPJPY, so there is news about the pound and news about the yen.
It means if there is a UK interest rate announcement or GDP.
We are waiting until then. Looking at the past from this current range, the price has risen considerably.
We think it would not be surprising if this rise pauses.
We will look at the calendar and assume when it is likely to move after that.
It is better for you to place your limit price at that time.
It is more effective to place a limit price after checking the calendar.
Especially in this kind of range condition, the price movement itself slows down.
The range of fluctuation itself becomes smaller, and it starts to simmer down. It becomes difficult to trade.
Just when you think you have entered the market, it goes against you.
Often, just when you think you have placed a stop order in the opposite direction, it goes backwards again.
People watching the market think the same thing.
If the high is break, it will go up.
Or they think that if the low is break, the price will go down.
Of course, it is possible for prices to move without waiting for an indicator.
It is good if you can place your limit price at the time the news is announced after looking at the date of the indicator.
If you cannot, then you can just put in a stop order on that day.
The position of the stop order does not matter. A buy stop or SL to put in a stop order is OK.
The point is that the position to place the timing order is good, the only thing left is the timing.
The timing is determined by checking the indicator and placing the order on the same day.
If the market is in a range after a trend, confirm the indicator and place a stop order at the low.
Or put a stop order at the high.
Thank you.