Still got some pips out of Manufacturing PMI
early entry to avoid high spread and re-quotes.
early entry to avoid high spread and re-quotes.
One thing, for my own personal edification in future, is that I tend to close out trades in profit to early, because I think I see price action that is not to my favour. Case in point, a EURAUD trade of last week would have delivered double the pips had I stayed in. However, at the time of closing the trade I had no idea where price was going to, it may just as well have retraced to BE, so I suppose I cannot be to hard on myself, but that is what I am struggling with at the moment...
H
H
- #10,508
- Mar 3, 2014 9:30am Mar 3, 2014 9:30am
One thing, for my own personal edification in future, is that I tend to close out trades in profit to early, because I think I see price action that is not to my favour. Case in point, a EURAUD trade of last week would have delivered double the pips had I stayed in. However, at the time of closing the trade I had no idea where price was going to, it may just as well have retraced to BE, so I suppose I cannot be to hard on myself, but that is what I am struggling with at the moment... H
on the bright side it was my first profit with this system, ive had loss after loss but it more than exceeded all loss to very good profit, so i have hopes that eventually it will work in the end
Not much movement anywhere!!
- #10,510
- Mar 3, 2014 9:53am Mar 3, 2014 9:53am
- Joined May 2009 | Status: step into liquid | 3,460 Posts
- #10,513
- Mar 3, 2014 10:49am Mar 3, 2014 10:49am
- Joined May 2009 | Status: step into liquid | 3,460 Posts
- #10,515
- Mar 3, 2014 11:52am Mar 3, 2014 11:52am
- Joined May 2009 | Status: step into liquid | 3,460 Posts
- #10,516
- Edited 1:52pm Mar 3, 2014 1:22pm | Edited 1:52pm
{quote} I'm just connecting the timing with the market sell offs. lol I understand corrections are in order for the markets. I will shut up and go away.
But, either way I don't like trying to predict anything which is why I am on this thread. We are trading the news and we don't have to try and predict anything. It's all about insane R/R.
It really is a circus of news events this week.
- #10,518
- Mar 3, 2014 2:59pm Mar 3, 2014 2:59pm
{quote} Hedge funds are even betting on China having their own banking collapse this year and I don't think I need to say anything about Europe. But, either way I don't like trying to predict anything which is why I am on this thread. We are trading the news and we don't have to try and predict anything. It's all about insane R/R.
yeah agreed, it's something i have to remind myself constantly that's it's simple a cold mathematical numbers game forget guessing and trade everything that meets the high RR criteria, not trading would probably kill me in this cause i tend to get scared the moment i make a profitable trade. But i realize after a solid MM plan playing it safe will get you nowhere.
