I had an idea and Im sure most will shoot it down quickly but I must mention it.
If I supply 100K dollars in a brokerage account and set my forget about S/L's and wait for the trade to go my direction. Hopefully, I am trading in the trend and catch the up/down momentum. I currently only trade the GBP/USD so it's active during the eur session around 7:00am (est). I am interested in taking huge down-swings and with that kind of money, just wait until it goes my way and close for a profit.
Does this sound stupid?? I rarely see the pairs trade above or below 200 pips, so I would never lose??
What am I missing in this strategy??
If I supply 100K dollars in a brokerage account and set my forget about S/L's and wait for the trade to go my direction. Hopefully, I am trading in the trend and catch the up/down momentum. I currently only trade the GBP/USD so it's active during the eur session around 7:00am (est). I am interested in taking huge down-swings and with that kind of money, just wait until it goes my way and close for a profit.
Does this sound stupid?? I rarely see the pairs trade above or below 200 pips, so I would never lose??
What am I missing in this strategy??