Bundyraider, thanks so much for your post on the formations behind the pins. As a newbie learner, I'm definitely going to brush up my formation knowledge and take a look at the "behind the pins" action. Thanks so much for sharing
Mike, I'm also interested in hearing why you have a 60% win rate, is it because you don't move stops to BE, waiting for the big move? In terms of moving stops, I've found that I prefer to either catch a move or get stopped. So often price retraces beyond the BE point and then moves on. Of course, I'm still in demo so this may change when I start on my micro account, but I've found that I'm psychologically happier with a better R:R.
The two bad things about trading from Australia: 1. when I wake up and take a position, it's the slow Asian session, so price doesnt move drastically, making me doubt my position. I think it's important for me to recognize this and stay put till I'm take out or London opens.
2. I wake up and see a gazillion more posts on this thread, while most of the posters are asleep! Love starting my day by going through the new posts though
Mike, I'm also interested in hearing why you have a 60% win rate, is it because you don't move stops to BE, waiting for the big move? In terms of moving stops, I've found that I prefer to either catch a move or get stopped. So often price retraces beyond the BE point and then moves on. Of course, I'm still in demo so this may change when I start on my micro account, but I've found that I'm psychologically happier with a better R:R.
The two bad things about trading from Australia: 1. when I wake up and take a position, it's the slow Asian session, so price doesnt move drastically, making me doubt my position. I think it's important for me to recognize this and stay put till I'm take out or London opens.
2. I wake up and see a gazillion more posts on this thread, while most of the posters are asleep! Love starting my day by going through the new posts though