This morning market gave me a realtime lesson in something I new since beginning of trading, but sometimes you think you even know it better...
And so the market strikes back and told me two messages:
- "The trend is your friend - don't forget that. "
- "Follow your rules"
I tried to jump on various opportunities - in direction of the trend and direction of a predicted retracement. And I tried to predict upcomming TDI crossings. Not the best idea, but the results are not so bad, but with more concentration the performance could have been even better
Summarized my goodies and baddies - I got
And so the market strikes back and told me two messages:
- "The trend is your friend - don't forget that. "
- "Follow your rules"
I tried to jump on various opportunities - in direction of the trend and direction of a predicted retracement. And I tried to predict upcomming TDI crossings. Not the best idea, but the results are not so bad, but with more concentration the performance could have been even better
Summarized my goodies and baddies - I got
- eurchf
- short because of a predicted TDI downcross on H4 while I interpret H1 is in a retracement (already multiple hours red): -17 pips (I use samller position size on trades against the trend) closed by stop (didn't follow the rules)
- unfortunately I missed the even better and TMS-like upmove now - usdcad
- short because of doji-ha-candle and TDI downcross on H4 while I interpret H1 is in a retracement (already multiple hours red): -13 pips (half pos. size) closed manually on the next candle
- turning into a more likely long on usdcad on H1 TDI cross upwards: +13 pips on upcomming R1 (pivot) for 1/2 of pos., other 1/2 still on - nzdusd
- long due to TDI cross upwards (predicting a retracement) while H4 and trend is on the downside: -8 pips (half pos. size), closed on flattening TDI and next H1-candle was red
- I do not open a trade in the other direction because of near S1-level and further on redicting a retracement upwards - euraud - long in trend direction on TDI H1 cross upwards: +39 pips, closed 1/2 on R1 and resistance, other 1/2 closed +28 pips by tight stop
- aususd - still short from yesterday with only 1/4 position size - currently +35 pips (so no more than yesterday)
- usdchf - long on countertrend (rejected from monthly S1) or perhaps attempt for a reversal: +16 pips on 1/2 position because I must leave now computer for some time, other 1/2 position still running on tight stop
Lessons learned: Having a better focus on good opportunities (more quality) than against on many (quantity) and stay on the rules my morning summary would have been even better...
fxFox (all times in my charts are GMT+1)