RANT!!
New to forex, "ooh look, a good trending strategy, let's use it" makes 100 pips in a day... "w00t!" then comes some massive drops in stock markets around the globe, and the big bad fed cutting interest rates. Within a matter of hours the trending goes wild, 200 pip jumps all over the place... thank God for stop losses.
Wild numbers these last few days. Come on today most pairs are bouncing like a ping pong ball, my nice trending strategy is no match for the mighty power of the rubber pips from hell. After playing a bit I realize I can use the EMA indicator on here along with a decent exit strategy to pull some pips from each bounce. Not much, but 20 here and there adds up. Works well too, 80 pips within a few hours, looks good... oh but wait, here it comes to wreck the day!!
So now the cycles are flattening, 30 pips... 20... 10... hard to trade sideways. Somehow I doubt there are any good strategies for trading sideways.
Just when I'm having fun... Maybe I should've taken my own advice and taken a few days off.
New to forex, "ooh look, a good trending strategy, let's use it" makes 100 pips in a day... "w00t!" then comes some massive drops in stock markets around the globe, and the big bad fed cutting interest rates. Within a matter of hours the trending goes wild, 200 pip jumps all over the place... thank God for stop losses.
Wild numbers these last few days. Come on today most pairs are bouncing like a ping pong ball, my nice trending strategy is no match for the mighty power of the rubber pips from hell. After playing a bit I realize I can use the EMA indicator on here along with a decent exit strategy to pull some pips from each bounce. Not much, but 20 here and there adds up. Works well too, 80 pips within a few hours, looks good... oh but wait, here it comes to wreck the day!!
So now the cycles are flattening, 30 pips... 20... 10... hard to trade sideways. Somehow I doubt there are any good strategies for trading sideways.
Just when I'm having fun... Maybe I should've taken my own advice and taken a few days off.