ok, first day 1H trading gone. a bit up, lots of trades. conclusion, not to enter trades overnight and pick some 10-12 majors to watch them all the time and trade only them,. otherwise it mess. I am not a bot so missed entries on jpy pairs cause I slept. stopped on e/u. let's see what it will be doing. a lot of opportunities might be here. I wonder if those bad Jpy news are enough to break this month highs...
went short on e/u again. rejection from 1.2800 and behavior of other eur pairs. not very good entries but I would hate to miss if trend takes off without me. shorted e/j and a/j. a speculative trades. shorted chf/jpy too but decided it was too much of a good thing and closed it. 2% risk on speculation is enough. the reasons of shorting are following. On bad news price still failed to break previous highs. pin bar for aud/jpy and lower high for both pairs too on smaller TFs. failure to break on after news the most important reason and strong levels of course. stops in place. if I get into some pips will move stops to BE. downside potential is good if I am right.
I am watching ES (s$p500 e-minis). this is what made me check up on my currency trades. there suddenly was 17-18 points move in half an hour which is abnormal. this week volatility was crazy have not seen it yet and seeing what was going on with my currency trades I closed them all. I am going to possibly reopen few trades I have been in after I see what will be happening on Sunday/ Monday. On few pairs price is close to my entries so it will not cost me much. I will most probably make small changes.
Generally speaking considering how good I am most of the time with entries which my consistent floating profit shows it is simply crazy I am not making money. Considering what i see I think some changes are due along trend following.
I need to put this last piece of puzzle to make things work. Profit taking part. I have had profit taking rule, but it doe snot work in current circumstances which can last a long time. I remember that once e/u for example was spiking and ranging for some 6-7 months on my memory. There is no trends now which I can call trends and which trigger my trailing based upon my rules. Need to adjust. Imagine what damage can be done to account in such period of trend not developing if profits are not taken. I need something that works always. and it seems I have got solution. whether it is solution or not I will see quite soon. So far I need to see how markets will open and PA over Sunday/ Monday overnight.
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