Spoof's Trading Made Simple(r) Journal
{quote} Too scared on missing out. Don't be a sheep and follow the herd. Work that grey matter you have between your ears and decide for yourself.
Just went long on EURUSD. A tad risky since price is ranging right now, but ranges always break. 2R profit target just happens to coincide with the last support level that was broken and price often loves to retest those areas. We will see{image}
Still holding the UJ - but reduced my profit target to previous strong Resistance . It's having trouble getting up there. Lowered stop similar so trade was still approx 1:2. Entered AJ & looking good so far {image} {image}
My thoughts on the UJ trade is to leave your original 2R in place as per your original trade idea. Don't mess with it after you've placed it. What if it does go up 2R? What you should be doing is sticking to your plan. If your plan is to trail a stop until TP is reached or the stop is taken out then stick to that. If your plan is to set and forget then take the loss if it happens and move on. Or bail on the trade for a small loss since it hasn't taken off like we expect these trades to do. Adjusting your trades after you have committed to them is not consistent trading and not trading with a good mindset. If you don't trade consistently then how on earth do you know what is working and what isn't? How do you know that it's the market messing you up but in fact it's you? Just something to contemplate.
{quote} AJ is looking good
{quote} Cheers TS - thx for comments. Hindsight tells me that I woulda coulda shouda bailed for very small loss but I have never been too focussed on S & R in the past. I take your point onboard. "no more tinkering " LOL
tinkering will be our downfall. Man, I am guilty of rampant tinkering 
USOUSD update. Just moved my stop based on the PSAR as price is nearing 1R in profit. This is now a risk free trade and I am hoping that price doesn't retrace back too deep into the level that has just broken, but at the end of the day price will do what it will do. I will continue to trail now based on the PSAR until TP is reached or stopped out. On a side note, now that this position is risk free, I will enter another position if we get a small retrace and a valid continuation set up. Oil can trend nicely when it wants to
{quote} Hey mate, nice video as always, have you considered filtering by confluence with the htfs direction? best regards
Got my 2R on AU from early this morning. Didn't think she would have another continuation in her, but that's what I get for thinking. {image}
I stayed away for the very same reasons. Shows what we know, eh? I'm OK with being on the sidelines though. AUDUSD has been good to me over the last month 
