been reading some of your old posts: had a good laugh, it's idd the simple stuff that works, it took me a while to get that ! I still have days where I forget it and I struggle but overall have found a kind of own way to trade adapted to my personality been doing fine lately, more importantly rather consistant. In the past I used to have these really hot streaks and cold streaks, these seem to have evened out recently. Patience seems to be key and cutting losers quickly, no more than 6 pips stops for me please It took me a lot longer than I ever thought to make the transition from trading options in the past to trading fx though. The cycle thing is still a mystery to me (Yoohoo told me you'd better have the right software for that and I'd better not bother with it as it might get me into trouble ) , but I know all too well there are several ways to skin a cat.
LOL. Oh man! I know exactly what you mean. Whenever I used to start a new strategy I'd hit it hard and the equity curve looked like a rocket to the moon. Then for some reason I'd take a small loss that I didn't like and I'd hit some "mystical" peak on that damn thing that would send it straight into the abyss. I had that happen so many times. You're right! Tight stops, simple (reliable) setups, and patience are the keys! My problem was over-trading with tight stops for a while. What a nightmare. Death by 1,000 cuts. That's why i needed the cycles back. The cycles are actually something I created myself. I'll share them with you via email if you'd like. See if you can incorporate them. I showed them to him thinking they were the holy grail but yoohoo thought they might be good in an ebook lol. I'll shoot you a PM. I still have to reply to your old one lol. Yes, I went absolutely CRAZY trying to get that strategy down (we discussed in PM). I felt like I lost my mind haha.
Looking extremely bullish. Weekly and daily both. 25th was the trigger. Went long a little @ 45 with a 10 pip stop. We'll see what happens. Haven't been trading much lately, had some work stuff to do.
saw that . Looked like they might take a stance against inflation too. It's looking like 1.40 isn't out of the question. Really chewing through the supply at these levels. How have you been? Hopefully things are well!
Tight stops need good filtering indeed, otherwise if your entries are too broad, will end up chopped to small pieces.
Ya, fundamentally Euro is definitely a long, considering rates policy of ECB vs Fed and other matters. Today is a little bit in red for my scalping calls, but it's the part of our business. Overall all goes as expected. Hope February was good for you as well?
yup! Been my Achilles heel. Actually, happened to me again today actually. Stopped out @ 43 then blasted 14 pips .
Today was an ugly noisy creeper session (European at least), so no wonder. Bit me as well as I tried to pick the top.