honestly speaking, I'd recommend not to follow the trading book strictly. focus on a more macro fundamental picture which you tend not to focus on. Most of the time, Aud doesn't move. It will stay still. No amount of trading books/technical analysis will move Aud. Now why Aud went down yesterday during the European session? Aud and Gbp went down at the same time. Also dax, fce cac40, fesx, hangseng index ... went down at the same time. It was due to the Evergrande crisis. When so many things move in tandem, the movement tends to be significant. without such major news/events, aud will be too lazy to move.
That is quite a general statement don’t you think? No one? I wish you the best with algo trading. Please understand it can stop working as fast as it started working. Then it is back to devising new algos and a lot of backtesting. Even so, backtesting is no guarantee that future trading based on the algo will render the results of the backtesting. On the other hand price action has been the same for decades. Trends composed of spikes and channels. Pullbacks. Flags. Triangles. Ranges. Gaps. Breakouts. Reversals. Look at a chart 40 years ago. They are all there. Price action, once it is learned well, is for life. Even in high volatility the principles remain the same, one just has to adjust the SL, PT, and position size, to correlate with the volatility and one's account size. Discretionary PA is a long road and hard row to hoe but once learned, it is for life. And once the necessary skills are developed, it is with a trader for life to implement on virtually any instrument in the markets. Nevertheless, the skills continually have to be practiced, honed, and sharpened. Think of Tom Brady. What if he quit honing his skills, practicing or quit studying? https://au.news.yahoo.com/tom-brady...so-much-more-than-just-history-231426625.html https://www.psychologytoday.com/us/...om-brady-has-gotten-faster-smarter-and-better https://www.inc.com/bill-murphy-jr/...then-ranked-by-how-easy-they-are-to-copy.html PS Brooks principles, as he espouses them, cannot be learned and the necessary skills developed sharp enough, to be really good, in less than 5 years, in my opinion. I am reasonably intelligent, diligent to practice skills, and work on my mental aspect including the psychology of trading and it has taken me more than 5 years. But then again I may have issues others don’t. For example, one issue I had was I hate losing therefore it took me a long time to understand and see that it is necessary for the preservation of capitol. Sounds contradictory, but it isn’t. In the end I still managed to apply Brooks principles in ways that render me a high win rate. But i still have to bite the bullet and take losses to preserve my capitol.