Disliked{quote} Bear in mind a) nobody knows what the unemployment rate is going to be b) nobody knows what the market expects the unemployment rate to be c) nobody knows what importance the market attaches to the unemployment rate d) nobody knows what how the market will react to the unemployment rate Seriously, you need to use technicals to guide you in and out of trades. For god sake don't use fundamentals for precise entry and exits. Price will move somewhere inside a zone; you need to figure out where your buying and selling is inside that zone. And...Ignored
It’s nearly impossible to figure out where to buy and sell inside any predetermined zone, the probabilities of success are horrible, definitely always <50%.
Even my own suggestion from yesterday “Don’t target 104. If you’re going to trade the spot market, look too short at the top-range around 99-100 with a target around 97, and conversely go long around 97-96 with a target around 99.” is less than 50% probability, but at least it’s so far holding up to be true. This however was only a trade idea, I would never actually try and trade it, and I didn’t post it as one of my official trades. I can’t live with the probabilities of success and the risks I would need to take to make it more profitable than… (Here it comes)
If you have the luxury of using FX options, sell options outside (or for the more aggressive, at) these predetermined zones. Force the market to break these zones, you will see it coming and can adjust as needed, and let non-speculative order flow play around inside.
You can, get this, predetermine your chances of success at order entry. Feel like a 90% chance of success (common for my orders)? Go ahead and do it. Feel like making more on the trade with additional risk? No problem, but your chances are now, again predetermined for you, lower and possibly say 80%.
Once you get this methodology, and I know that’s going to be hard for most, you will raise your winning percentage, reduce your risk, and boost your account returns – all at once!
I’m selling you on a free trading system that’s used by professionals, the same ones you’re trading against (that’s if your broker even sends orders to any real market) and can you guess who wins?
(Hint: it’s not you)
