"Profit Compoundd" Rules
- 10 May 2021
Yes only time will tell, got in on the correction of the 5m, 15m mark, just following the Jig Saw. Look likely to swing down from here?I thought I would add if I may? One of my biggest problems with trading FX, although I think I've got it down pat. Is that I always enter a trade to early. That's when it turns and bites, and if I let it ride, thinking it go, where I believe it was going, I suffer. You must have sum DISCIPLINE...
Scored some meaningful credits, from the slow momentum going short and from that push north, yesterday. But lacked confidence to continue on with the short action. Could see the EUR continuing its short momentum through the hours of the morning, but expect momentum to change and go north, hoping for some confident long action later in the evening...EUR/AUD had reached the 200ma on the 15m frame, and turned north. Going long for what appears to be a strong push, tuning in a sharp manner and going fast. rather then previous momentum of a slow short action...
Stuck to the plan didn't, close my positions, (saved money) even thou I got into a lot of deficit. Under estimated the AUD when it was on a high. Lost a lot of ground and I skimmed (sleep) through it by the skin of me teeth. The 30m frame and the 1hr frame is overbought, hoping it will stay that way. Because the change in momentum was long over due, I'm backing my positions to hold strong, riding the 4hr frame, which has room to move in a positive strong change in momentum...Could go either way...Either way the credits are rolling in, using trailer stops....A bit of heavy betting going on here. i backed the EUR to change momentum and head north. I've got eight lots on the line. Confident a change is forth coming, Using the the methodology that you always hold your position if your on the correct end of the chart. The EUR has meet the 0>Fib on the 30m frame, which says to me that a change is intimate, and the pair should register. Hoping for a big day of highs...
Thanks Peter2, Havn't got the patients or tolerance to trade the 1day time frame, as a whole, I find concentrating on the AUD pairs, frustrating enough, EUR/AUD is my pair of choice, the most lucrutive of the 5 AUD pairs.Have you considered that AUD (and CAD) are commodity currencies and commodity prices are rallying strongly?
EUR/GBP have a situation on their doorstep with the Russian/Urkraine conflict.
You've been stubbornly long this pair and it's taken far to long for you to consider going short.