BlindMan wrote:BlindMan wrote:The only 'downside' (if you want to look at it like that) is that I'm not trading just the US session now, I'm spending more time on it. Usually the move out of the zone (from the daily open) happens in the first hours, but in other cases it'll take more time until the range finally expands. Not complaining though!
Quoting myself to show what I mean with that.
'Tough' day (you can still bank pips, just takes longer):
'Good' day (from today, easy):
Sometimes it takes time. Note that you can still make it green in a tough day, like the one up there, tough doesn't mean losing day. The only way you can have a 'losing' day is if you have a very bad daily range. And no, it's not a 'you lost everything' day, just a couple of scratches, no big deal.
Right now I'm focused in the USDCAD. Eventually I'll have a day with a bad range, it's part of the game, but I know how I'll handle it so it doesn't bother me. Can it happen? Yes. Is it likely? Well, look at the stats and you'll see . I'm only trading the U/C, but if I was trading more than 1 pair then I think the chances of having a losing day drop substantially.
Drop the buyzone indicator (or plot 2 quick lines 10 pips away from the open without any adjustment) and look at all the pairs for today. Out of 27 pairs the only 2 pairs that didn't move [i]at least 20 pips away from the buyzone were the AUD/USD and the EUR/CHF. And again, this is without doing any adjustment or looking at stats for ranges, and those 2 pairs tend to have lower ranges.[/i]
Do it for yourself and you'll see it
Staying away from anything with CHF involved is always a good idea imo anyway, no matter what the method involved!