we shall see!! i should have listened yesterday, i would have been up 30 instead of down 18. if i would have listened to some i woul dhave been up about 75 or so, that would have been nice. anyway, do you have one system, or do you use a few and pick the strategy for the day, week, month?? i am a noob and with everyone throwing all kinds of strategies around, i am sooo confused. i know you are not right all the time, as is anyone since the market has a mind of its own. my problem is seeing signals that show entry or exit, and i sit there and miss them for fear they are head fakes. right now i see us waiting for the boe tomorrow before any movement, and i think the g7 is hosing the works as well with all the talk on the yen being way to devalued that is messing up the carry trades. do we have to wait for these to be done before we see the gbp/usd get back to it's rock and roll ways??? i had noticed for the last week that around 3 am we had movement in one direction or the other until around 5 am est every night. is that a normal thing??? or was that just getting me to think that it was normal and it will change to some other "normal" behavior?? i know, disertation, but noone has really answered my questions. i have tried scalping, and have done good, but then i try one more and get bit for it. getting too greedy i know, but most of the time i got out too soon, if i would have stayed in, i would be much greener than i am right now!! this is where my exit strategy needs work, and i guess that requires patience!!! i need electroshock therapy to learn it!!! i think what causes me to get jumpy is the conflicting analysis from everyone about where the market is going. like i said, noone is right every time, so with whom do i see what they are seeing and go with that analysis or go against them???? i know, conundrum, but i think we are all in that boat right now, no set direction for the week for 500 pips, then the other way next week. there are always scalping opportunites every day, but i think i am losing confidence for that until i understand this a little better.
ok, back to strategy: looks like the most movement is after england opens when it gets its direction around 3am. unless some big news that is not what the market predicts, nothing changes that direction. i have also noticed that around 11am the market retraces from the days move as europe closes about 30-40%. it has not been doing this since the market is retarded lately, but hopefully, after the boe, it will get back to normal. my question, what are good signals to look for in getting in and out?? what do you use and what do others use?? any help would be appreciated.
thanks
ok, back to strategy: looks like the most movement is after england opens when it gets its direction around 3am. unless some big news that is not what the market predicts, nothing changes that direction. i have also noticed that around 11am the market retraces from the days move as europe closes about 30-40%. it has not been doing this since the market is retarded lately, but hopefully, after the boe, it will get back to normal. my question, what are good signals to look for in getting in and out?? what do you use and what do others use?? any help would be appreciated.
thanks