I am waiting for it to move down a bit further before I can enter my long. Waiting for divergence on 4H, I already see it on the 1H chart. For the noobs wondering, yes I missed pips this time by not staying in my short, however my trade plan was already completed for the week. I do not need to chase the market trying to squeeze everything I can out of each position. Having the power of margin makes up for the missed pips.
For example on EURUSD 100 pips at:
5-1 margin = 5% account growth
10-1 margin = 10% account growth
20-1 margin = 20% account growth
and so forth
This works great when you are consistent, and if you do not have a good exit strategy it can hurt a lot if you are margined high. Of course there are additional strategies such as small multiple entries instead of 1 large, etc.
For example on EURUSD 100 pips at:
5-1 margin = 5% account growth
10-1 margin = 10% account growth
20-1 margin = 20% account growth
and so forth
This works great when you are consistent, and if you do not have a good exit strategy it can hurt a lot if you are margined high. Of course there are additional strategies such as small multiple entries instead of 1 large, etc.
"What the wise do in the beginning, fools do in the end."-Warren Buffet
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