Good evening all!
OK - well - bad news - I had to close out some positions - purely because my margin percentage started to drop below 30% at some point during the day (and the broker where I had all of these pairs open does not take kindly to that - which is good for the trader anyway). So - what I did - I closed out all the positions that were showing a profit (was still a nice little profit) and left the ones that have not been stopped and reversed.
It's not a problem though - I will continue with the 'experiment' - it's still early in the month - no problem - BUT - every new position I open I will open on their Level 2 Platform (much lower spreads e.g. I just opened a new position on GBP/NOK - Level 2 spread at the time was 92 PIP's - 'normal' order spread is 150 PIP's - makes a big difference when you are using an indicator that has to eat your PIP's before a reversal).
Sorry about that people - no choice.
Oh - and another observation - after today I don't advise opening positions after a few dots have already appeared i.e. only when the first dot has appeared do you open a position - opening positions with a few dots already showing this morning is actually what caused the problem in the first place i.e. because you don't already have a profit to fall back on if the direction changes temporarily - you are already in a loss position from the 'get go' - just not worth it. Also - since - starting this 'experiment' last week - I have noticed that your profit accelerates at the beginning of opening a position but price acceleration starts slowing down toward the end (but PSAR starts accelerating to protect profits - that's by design) - so - there is no point in opening positions late by the looks of things - the amount of time you might be 'lucky' will just not outweigh the losses.
Regards,
Dale.
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