thanks. If u have read my posts from past, and if you are following the current post, I think by far you must have gotten the idea, it was consistant 6 months back too, and its the same.
Okay here is a thing to learn, for all the new traders here. I had this problem with me initially when i started trading, ofcourse y not, am a human too. When i say and keeps on stressing 'following a trading plan is the only way' to become one of those lucky 10% ones who makes millions while the remaining 90% regret to the thought why they even started trading, I MEAN IT. For me trading consistanly a proven trading plan is EVERYTHING. here is a best example. Lets say we are in some trade and we are in a profit but our targets are not hit yet, trades bounce baks and ends up as a loser, stops us out. Now does that mean we need to change our trading plan??Improve it, start looking for new things, new methods, new idea and new indicators?? easy to say, hard to do, but let me tell u (i know beacuse i been there too), that such kind of distractions can simply ruin ur career as a trader. U need to realize that although following the trading plan, we did miss those winner trades which we got stopped , the same trades which were giving us some money earlier, but hey, we were just following our trading plan! Gota do what it says, Its the same plan which makes us money daily, makes us look proud of ourselves. For me following a trading plan is akin to following words of Bible! Ofcourse if u want to, u can just fool around whole your life, but in the hearts of hearts we know that whatever written there in Bible makes sense no matter what! I may sound a little crazy, but I am only tryna stress here to follow the trading plan, write it down in a paper, back test it, watch it live for a month or so, approve it, and give it a shot without deviation! THE ONLY HOLLY GRAIL IN TRADING.
Few days back i wrote my observation about EURUSD pair and how i think why its on a downtrend and expected to go down further after a pullback. For all the big players who like to hit hard on forex and position trade it, my understanding says that its a perfect pullback to go short now for 2-5 days play for a quick gain of 100 pips or so. Adjust your stops accordingly accoprding to your trading plan ( would be big stops though), i dont position trade it so I dont have a game plan just this that it looks ripe enuff to dive for a quick 100-200 ticks Cheers
Although EC is still strong and a pullback 15 ticks is needed on EC from current levels to try LONg it again intraday bases. (talking about daytrading). BP reluctance to move along with EC shows that there is a major weakness in that EUR/GBP sector and it can drift down again in daily and weekly timeframes. TY and US worked like a charm all SHORT. Hope few made money on the live calls of BP, EC, TY, Bonds, AD, JY and last but not least Russell. I am managing my swingers. Be right back towards close. Ask questions if you may wish.
So a good day today. I would like to stretch my arms wide open for all those who want or needed to be helped now as the dust has settled and things have started moving in the right direction after the intial panic woohooo 'harris is back' Please dont hesitate to ask questions, I will be available readily to help. Am gona sleep now.. see ya all tomorrow.