DislikedNever try and catch a falling knife. If you missed the move, then so be it.....the prudent thing to do in such cases is wait until price pullbacks or hesitates for a few bars, and then enter on resumption and breakout. As far as a retracement - you should be looking for an impulsive move, and then a pullback...then enter on the retracement. Otherwise, you're just trying to call a top or bottom. Good luck!Ignored
DislikedI hope you not calling me a bad trader...?? I am a full time day trader. Its my job and i trade on behalf of clients too.
I accept losses hence i saved enough in my account for tomorrow (trading maturity). I could afford a 200pip loss.Ignored
Why 200 pips, even your account can afford it? Yesterday i was wrong in EUR/USD, lost 70 pips. Today another plan but with USD/JPY winning 130 pips. No need to have big drawdown. When you get wrong, analyze your charts, and you discover what did not function. That's what i did. Why trying beating the market, or entering in a hurry? Forex is full of opportunities. You miss one, you'll find an other, but what you never have to miss, is your own money.
No Signal, No Trade. No fundamenals, No headache.