DislikedPosting a poor choice for it drive the lessons home with brutal reality. {image} In hindsight the reasons it was poor are clear, but at the time not so. The mind (and trading) is a great servant but a terrible master. Still in the learning lane and much to absorb and implement, so let's take that (and hope) it's a lesson learnt and that one pays closer attention to the long term signals and direction of the slope, as SwingMan has clearly articulated on many occasions. Now back to the study!Ignored
EURJPY is at an all-time high and last week was a big candle. That was a push higher but be prepared for a pull-back.
IF I am taking a counter-trend trade against a trending market type the Weekly, the risk to reward is seldom favourable. I need to see at least a risk-to-reward potential of 1 to 3 minimum. Trading with tight stop loss is not a good idea.
Yesterday was also Euro PMI data release so we expect some volatility.
I favour more trading with risk-to-reward 1 to 3 and the win rate is only 40% to make some money over medium to long term.
EJ R:R 1:3 example
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett