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Lets dig deeper at the 10 pairs to see if anything removes them from our list!
1) NZDUSD - MONTHLY DOJI - OUT
2) GBPCAD - MONTHLY DOJI - OUT
3) GBPCHF - MONTHLY DOJI - OUT
4) USDJPY - WEEKLY DOJI - OUT
That's a 2 minute candlestick analysis and I am now down to 6 possible pairs. Take some more time yourselves on these 6 pairs to see if anything else would have you eliminating any other pairs for the week.
That's it for today. I hope this helps someone out there. I hope this will have you looking at your pairs this week and evaluating how much loss could have been avoided.
Disliked2. EA FOR EASY... If a trader desires easy money trading forex, that trader may not realize just how hard trading profitably on a long term basis forex can be. In fact, it is my belief that trading forex profitably for the long run is likely one of - if not the most - difficult professions known to mankind. We all want to find easy money - EVERY SINGLE ONE OF US wants that! An info commercial at 3am on a Wednesday back in 2007 had me believing that trading forex was easy money... this is my true story by the way - now 12 years later - IT REMAINS...Ignored
Dislikedmy basket for this week (opened at the regular Tue 3am rule)and like everyone else initially went into drawdown - and is currently in the black to the tune of around 120 pips blamIgnored
DislikedGreetings to all... I have been following this thread for several weeks now. Forgive me please as I feel compelled to offer my 2 cents worth... And please also understand I mean absolutely no disrespect, but cannot help but ponder the following subjects, after which I would like to offer how I work this strategy - NO EA's! Before I begin, let it be known that I fully understand that the goal of this strategy appears to be to pull a 5% profit each week without much work. 1. TREND TRADING - LONG TERM CHARTS... If a trader is wanting to trade with...Ignored
Disliked{quote} It's not easy to develop longterm profitable EA and it is possible to implement all kinds of geometry in EA for decision making. EAs can have the same "eyes" what you mentioned. But the main advantages of EAs: 1) Backtesting history 2) Optimization - find out the best parameters 3) Discipline - no emotions and 100% trading according to defined rules You may have a lot of parallel EAs running (more than 100) on n accounts with various setups - manually you can forget something and make mistakes. Anyway, I put like on your comment because...Ignored
Disliked{quote} These are some good points. I for one have never and will never trade through an EA. Your point on taking note of the economic calendar is bang on the mark and too often ignored. But the principle here appeals to my experience of all price charts in every class I have looked at - that long-term trending asserts itself more often than short-term counter-trending. It therefore follows that in an uptrend there will be more up days than down days, and vice versa in a downtrend. And they will be stronger up moves in an uptrend and stronger down...Ignored
DislikedIve read through the entire thread and was just curious if you guys are opening and closing your trades manually with the entry and exit rules in post 1 or are you still using the EA? Just asking because I saw where the EA has had some issues and didn't know if it still worked for the most part ThanksIgnored