This thread will be an introduction to my process for trading EURUSD. Before i proceed i must say that I can't take credit for all of the stuff that i am about to write here but over the years i have added to the stuff that has already been written regarding the topic of session based trading.
A bit of an introduction about me, i have been trading since 2011 on and off and have only made meaningful progress over the last 4 years and have achieved consistency. i only trade EURUSD and the DAX and have a system for trading them both. The process that i have are a bunch of rules based on recurring patterns that i have observed in both of the instruments above. The system that i trade can be tweaked and armed for any other instrument but that will require monitoring the rhythm of the instrument you wish to trade.
The purpose for writing this thread, is mostly to keep a journal for all the trades that i take in EURUSD and to write my thoughts on trading and since i am unable to post my analysis in a dedicated thread in interactive trading. Trading is a very hard profession and i wish to present that reality through this thread. Also i want to use this thread to dispel the new found methods of trading that are all rage these days and the new guys are falling for them. These methods are basically copy pasting and re-labeling of the already existing methods like support resistance and price action. I want to present here the reality that trading system is basically a trader armed with a bunch of rules.
I am a believer that every experienced trader has a forte and that is how it is supposed to be, you cant possibly trade 10 different instruments and expect success. So this topic will be limited to discussing the patterns on EURUSD only. I shall be posting the necessary information to carry forwards this discussion in the next post.
A bit of an introduction about me, i have been trading since 2011 on and off and have only made meaningful progress over the last 4 years and have achieved consistency. i only trade EURUSD and the DAX and have a system for trading them both. The process that i have are a bunch of rules based on recurring patterns that i have observed in both of the instruments above. The system that i trade can be tweaked and armed for any other instrument but that will require monitoring the rhythm of the instrument you wish to trade.
The purpose for writing this thread, is mostly to keep a journal for all the trades that i take in EURUSD and to write my thoughts on trading and since i am unable to post my analysis in a dedicated thread in interactive trading. Trading is a very hard profession and i wish to present that reality through this thread. Also i want to use this thread to dispel the new found methods of trading that are all rage these days and the new guys are falling for them. These methods are basically copy pasting and re-labeling of the already existing methods like support resistance and price action. I want to present here the reality that trading system is basically a trader armed with a bunch of rules.
I am a believer that every experienced trader has a forte and that is how it is supposed to be, you cant possibly trade 10 different instruments and expect success. So this topic will be limited to discussing the patterns on EURUSD only. I shall be posting the necessary information to carry forwards this discussion in the next post.