The market is an ocean of pips, each going their own way, but when all together, moving in the same direction. Attempting to swim against the current, you will be able to get a few feet, but after being worn down you will be swept away by the waves. Swimming with the current, you will float hundreds of feet without having to paddle. Occasionally you will be pulled back and forth by a choppy sea, but in the end, the current will prevail.
My plan is to trade 15M – 1D timeframes, depending on if a setup presents itself. I will trade breakouts and Resistance/Support but only in the direction of the trend. The trend will be dependant on the timeframe. If the trend bullish on the 1D, but bearish on the 15M and I decide to trade the 15M I will only go short.
The same will go for the targeted amount of pips as well; it’s all dependant on the timeframe and support/resistance. If I trade on the 15M TF we will go for a relatively lower amount of pips than on the D1. Same with SL; 15M will have a much tighter SL than D1. The only trades that I will take will have a 1:1, 1:2 R:R, and preferably higher. This is not to say that when I am in a trade I cannot Exit the market when we see fit due to Price Action.
I will let the markets tell me what to do, because when I try to convince it what to do, it never quite works out.
Now let’s go with the flow and trade!
My plan is to trade 15M – 1D timeframes, depending on if a setup presents itself. I will trade breakouts and Resistance/Support but only in the direction of the trend. The trend will be dependant on the timeframe. If the trend bullish on the 1D, but bearish on the 15M and I decide to trade the 15M I will only go short.
The same will go for the targeted amount of pips as well; it’s all dependant on the timeframe and support/resistance. If I trade on the 15M TF we will go for a relatively lower amount of pips than on the D1. Same with SL; 15M will have a much tighter SL than D1. The only trades that I will take will have a 1:1, 1:2 R:R, and preferably higher. This is not to say that when I am in a trade I cannot Exit the market when we see fit due to Price Action.
I will let the markets tell me what to do, because when I try to convince it what to do, it never quite works out.
Now let’s go with the flow and trade!
I just want to get my kicks, before the whole shit-house goes up in flames.