Hi folks,
I just want to ask the profis in this forum if I have done something wrong or if I have done everything allright at this trade.
Today i went long in EUR/JPY. You can see it at the picture. I set the stop loss at the lowest point (red line).
My entry signals are the crossing EMAs from down to top, Stoch under 50 and crossing too. Also I use ADX to see how strong the trend is.
Now to the stop loss. I have 1% risk (equal 5 Dollar). My money management calculator said, that i could risk 0.01 lots by 490 pips stop loss.
Now to my question. At the moment i am with 8 Dollars in minus. How could this happen?-I use money management to prevent such losses!
Last week i made roundabout 1000 Pips with the same entries, but i feel, that there is something frong with the stop losses. Did i understand them wrong?
best regards,
Florian