My thoughts,
This is some excellent information Ken. I really like hearing your thought processes on how you are transitioning from one methodology to another. Fascinating stuff!!
That counter-trend trade sounds a bit hairy... You must have had some reason to enter it though?...
LOL, Yeah, what a fun trade indeed, I keep a count on EJ and it's moves, and my thought was 90 pips or so would be the bottom, even had a S1 support at that moment. I actually entered on the wrong 5 minute candle, which if I had entered the prior one, I would have cleared my 20 pips of expected retracement.
I did not expect the move to go to a second move of 90 pips, which in not normal, but the biggest mistake was when I was down 75 pips with 5 lots, and not taking 5 more lots knowing that when we get a 200 pip move like that, we would get a 50% retrace.
Well, enough was enough, so I just remained confidentthat my trade would break even, and with no problem
I believed it would be okay. :surprised.
Let's just say "I won't be doing that again soon"!!!!!LOL
Yeah, I have to agree with focussing on one strategy... I have improved my trading at a faster rate in the last two weeks concentrating on one strategy and one pair than when I was watching 20+ pairs on 1h, 4h, 1d, 1wk and 1mnth timeframes
That chart you posted above is brilliant! Funnily enough I will probably be trying flame-only some of this week... Very good analysis of that 1m chart... Thank you Ken... This thread is getting better and better...
Magnus
:... I'm sure I'd make some more pips this time...
] who have just started studying one pair... What I mean by this, for example, is have you found in you experience that certain characteristics/data/etc of a pair are not worth watching? Have you regretted not spending enough time, say, watching what happen at particular times?...
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