3 Trades today. Sticking to the trading plan. Already some new thoughts for improving the plan. I am interested in if time of day could be a important factor. I have noticed just after 10 am gmt and 1 pm gmt there can be some nice opportunities anyone else take time of day in to consideration? Lessons learnt today daily pivots can be a sticky point so don't short right into a S1 like I did. Also based on the EURJPY trade from yesterday and the trades today (bigish moves after I got out with a couple of pips). 1M s/d can be laser accurate so it is brilliant entry technique but if I open multiple lots I can take profit on one at 2:1, 3:1 what ever and let the other run for free with stop on break even to try and make some big pips. I though about just taking a few pips with bigger lot size but that is something for later I think.
Better to wait until after 10 and beware of pivot just above my target.
And is it time to buy Euros yet? I am watching EURAUD to breakout of the Stan Weinstein Phase 1 Base it has been laying down. Might be a long wait (But fun to watch).
Cheers Withnail.
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Relativity wrote:Don't long EUR yet. I agree.
Time of the day matters :
Thanks Rel, Nice stats, how do you use them? hope you don't me asking. Also I know Dr. S. Sivaraman talks about a sessions, gap times between sessions and times of day. Every looked into any of his stuff?
Cheers Withnail
1. Big loss, 2. Small Loss, 3. Big Win, 4. Small Win --- just prevent 1.
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withnail wrote:Relativity wrote:Don't long EUR yet. I agree.
Time of the day matters :
Thanks Rel, Nice stats, how do you use them? hope you don't me asking. Also I know Dr. S. Sivaraman talks about a sessions, gap times between sessions and times of day. Every looked into any of his stuff?
Cheers Withnail
I just use the no brainer approach : the higher the range for the hour, the better the opportunity to grab pips. It also reminds me when should I be more or less tighter with stops. That's all.
Yeah I am aware of his work. Unfortunately I still can't see the edge. But I do like the way he trades off extremes + is very realistic with his target profits.
Relativity wrote:withnail wrote:Relativity wrote:Don't long EUR yet. I agree.
Time of the day matters :
Thanks Rel, Nice stats, how do you use them? hope you don't me asking. Also I know Dr. S. Sivaraman talks about a sessions, gap times between sessions and times of day. Every looked into any of his stuff?
Cheers Withnail
I just use the no brainer approach : the higher the range for the hour, the better the opportunity to grab pips. It also reminds me when should I be more or less tighter with stops. That's all.
Yeah I am aware of his work. Unfortunately I still can't see the edge. But I do like the way he trades off extremes + is very realistic with his target profits.
Thanks Rel. I am interested in his work too I would like to find more written material from him as I find him a bit difficult to understand in his webinars. Day off tomorrow so have a good new year Relitivity. Cheers Withnail.
1. Big loss, 2. Small Loss, 3. Big Win, 4. Small Win --- just prevent 1.
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Lesson learned was so focused on AUDUSD did't do my usual routine marking up different pairs and using alerter. As a result I missed this.
And I managed to delete all my AUSUSD position by accident. Not all bad least they were positive when I deleted them, live and learn as they say. Off to gym to clear my head.
Cheers Withnail.
And I managed to delete all my AUSUSD position by accident. Not all bad least they were positive when I deleted them, live and learn as they say. Off to gym to clear my head.
Cheers Withnail.
1. Big loss, 2. Small Loss, 3. Big Win, 4. Small Win --- just prevent 1.
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