FX CHAOS!
- Thread starter Triple B
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- chaos forex forex chaos
its always the short game
but i spent my golf day thinking about trading, its similar, you do better if you think your way round the course and plan a bit,
so the stats thing. i think they are specific to the trader and their style, some people make money on a win percentage of less than 40, others need more than 60, for me because i am sitting in front of the screen most of the time i get the opportunity to manage trades. my goal is to be here for the really good winner. and you got to be in it to win. so if i can take 10 trades, have a couple of small losses, manage 6 of them back to breakeven and have 1 winner and maybe one more good winner , that works. but my stats are going to have (do have) a lot of BE trades. but those trades keep me in it till the good one comes.
but i spent my golf day thinking about trading, its similar, you do better if you think your way round the course and plan a bit,so the stats thing. i think they are specific to the trader and their style, some people make money on a win percentage of less than 40, others need more than 60, for me because i am sitting in front of the screen most of the time i get the opportunity to manage trades. my goal is to be here for the really good winner. and you got to be in it to win. so if i can take 10 trades, have a couple of small losses, manage 6 of them back to breakeven and have 1 winner and maybe one more good winner , that works. but my stats are going to have (do have) a lot of BE trades. but those trades keep me in it till the good one comes.
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Sounds like trend trading, is there a turtle inside you by any chance hiding?its always the short game
so the stats thing. i think they are specific to the trader and their style, some people make money on a win percentage of less than 40, others need more than 60, for me because i am sitting in front of the screen most of the time i get the opportunity to manage trades. my goal is to be here for the really good winner. and you got to be in it to win. so if i can take 10 trades, have a couple of small losses, manage 6 of them back to breakeven and have 1 winner and maybe one more good winner , that works. but my stats are going to have (do have) a lot of BE trades. but those trades keep me in it till the good one comes.
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The interesting thing is my strategy had taken me to a bit of an odd place where I could see that it would be too slow to react in the event of a sudden reversal. At the time of noticing this I was seriously tempted to close out my exposure, banking some modest profits and starting over. Regretfully, on this occasion, my decision to resist such temptation, was promptly greeted with a 70 pip reversal.
Reflecting on the overall strategy performance, the decision to adhere (rather than abandon) at such times, has (thus far) mostly proven more profitable than not, so strategy probably not really broken, and hence, not in dire need of fixing.
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Eur/usd
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Finding GBP and US500 hard at moment, disappointed with US500 stopped short of my 2R target twice then stopped me out at BE.
i'm short gold 1223.69. cause there was a short setup there and as per last night i am still thinking time for a pullback 1hr/4hr charts , however right now not really sure what my downside target is.
stop on the trade is BE now , so watch and see i suppose
yes will to me, gbp bit of a mess, us500 looks like it wants higher but ????
also thanksgiving, so not much us real trade till monday after tonight, so it may all just slow down, go sideways a bit tonight
stop on the trade is BE now , so watch and see i suppose
yes will to me, gbp bit of a mess, us500 looks like it wants higher but ????
also thanksgiving, so not much us real trade till monday after tonight, so it may all just slow down, go sideways a bit tonight
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Didn't think about thanx giving
