You manage other people's money. This is profi's job. Regarding retracment. Market always goes up and down and any position opened at the random moment of time can show nice profit soon or later. The question is what will it cost trader in terms of money and psychological pressure. Imho, Averaging works well for long-term trend following when trader adds to the position but every time decreases number of contracts. In short-time trading averaging is poor tactics
Thanks Flynn for the book ... very useful ... means a lot ... I transfered the funds from the hedge ... than I will transfer to the client .... It's ok ... Now short eurusd 2 lots ...1.1492 ... trading 1.1483 ...
Look at the USDCHF chart and see whether you would place a firm order for long or short, without any doubt. It seems to me they are strongly negatively correlated, recently and currently.
suggested sell signal .... eurusd short 1.1392 ... had stop 1.382 and I see it got filled ... 10 pips profit ... What do you trade most, odd ??
I agree. Good exit! I can only tell my current projection for next week as follows: USDJPY Down USDCAD Down AUDUSD Up EURCHF Up EURGBP Up EURUSD Up Will see.
I will watch them ... I am concentating on eurusd ... I see it bull also ... 1.1600 is believeble next week ... Have a nice weekend ...