Here's my results for the last three weeks. Week one was pure hell. Week two was somewhat easier. Week three was easiest yet. I hope it continues to get easier with practice so I can reach the Udine state of stress-free and knowing I'm going to make money today.
The difference between easy and hard for me is following my rules, and the one rule that has required the most discipline is to STOP TRADING when the last trade hits or exceeds the daily target. Because my account opened especially for this method is still small, I'm risking 4% per trade and stopping trading after an 8% loss, or a 3%+ gain. 8% is set in concrete, but my daily win goal is 3% or more if the momentum is there to squeeze out a few extra pips.
This week, I've also started focusing more heavily on making sure the pairs of pairs are in sync. Last week I mentioned that I was watching all 28 pairs and taking whichever one was 1x8 at the time of the M30 signal. But starting this week, I've reduced my pair set to 8 GJ-GU, EJ-EU, AJ-AU, and NJ-NU. I only use the AUD and NZD pairs during Asian session, and then only if there is a strong and clear setup. Otherwise, I'm using Udine's four pairs during London/New York sessions.
To see if the pairs are in sync, I use the PsyLevels Dashboard, as well as looking at the recent candle pattern for each partner in the pair to see if they are moving in sync. For momentum, I look at the Giraia CSM to find which of my allowable pairs has the greatest strength. I also look at Bid Ratio to see if it is near 100% or near 0%. I only learned the term Bid Ratio recently, but I've been aware of the effect for years. I just called it
"Flat Top/Bottom Candles Have A Greater Chance To Keep Moving In The Same Direction".
A highly technical name, as you can see! LOL
I only take one trade at a time. As soon as the pending order is placed, I'll drag the target out of the way by 15 or more pips. When the trade triggers, I sit with my finger on the mouse, ready to close the trade quickly. Once 5 pips is hit I watch to see if momentum will carry me through to a few more pips. I usually get 10 pips, but sometimes more and sometimes less. Once the 5 pips is hit, and price happens to fall back to the entry, I exit the trade. If 5 pips is never hit, I'll let it run all the way to the stop.
I'm open to constructive criticism of my approach if anyone wants to comment.
Thanks.
The difference between easy and hard for me is following my rules, and the one rule that has required the most discipline is to STOP TRADING when the last trade hits or exceeds the daily target. Because my account opened especially for this method is still small, I'm risking 4% per trade and stopping trading after an 8% loss, or a 3%+ gain. 8% is set in concrete, but my daily win goal is 3% or more if the momentum is there to squeeze out a few extra pips.
This week, I've also started focusing more heavily on making sure the pairs of pairs are in sync. Last week I mentioned that I was watching all 28 pairs and taking whichever one was 1x8 at the time of the M30 signal. But starting this week, I've reduced my pair set to 8 GJ-GU, EJ-EU, AJ-AU, and NJ-NU. I only use the AUD and NZD pairs during Asian session, and then only if there is a strong and clear setup. Otherwise, I'm using Udine's four pairs during London/New York sessions.
To see if the pairs are in sync, I use the PsyLevels Dashboard, as well as looking at the recent candle pattern for each partner in the pair to see if they are moving in sync. For momentum, I look at the Giraia CSM to find which of my allowable pairs has the greatest strength. I also look at Bid Ratio to see if it is near 100% or near 0%. I only learned the term Bid Ratio recently, but I've been aware of the effect for years. I just called it
"Flat Top/Bottom Candles Have A Greater Chance To Keep Moving In The Same Direction".
A highly technical name, as you can see! LOL
I only take one trade at a time. As soon as the pending order is placed, I'll drag the target out of the way by 15 or more pips. When the trade triggers, I sit with my finger on the mouse, ready to close the trade quickly. Once 5 pips is hit I watch to see if momentum will carry me through to a few more pips. I usually get 10 pips, but sometimes more and sometimes less. Once the 5 pips is hit, and price happens to fall back to the entry, I exit the trade. If 5 pips is never hit, I'll let it run all the way to the stop.
I'm open to constructive criticism of my approach if anyone wants to comment.
Thanks.
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