Hi,
Yes - that's what I'm afraid of!!!
What kills me is the pairs that I missed out on and was too scared to enter late e.g. AUD/CAD, AUD/CHF, AUD/NZD - I mean - I cannot believe the 'conviction' of these moves but I only started with this thing again yesterday or the day before and was not watching last week - TO BUSY MESSING AROUND WITH MACD!!! UUUUURRRGGGHHHH!!! WHY!!!
You know - this business could very well make one go nuts!!! I mean - what I have made so far is the best I've ever done at any one time (and would sure go a long way toward covering a small portion of the losses that I've made since starting out about seven or eight months ago). What do you do? I've started looking at the four hour charts to get out earlier on some of these positions where the profit figures are 'magical' given the amount of time that these positions have been open. Then - you start saying to yourself: 'Remember what happened the last time you tried to mess with this indicator and get smart'. I mean - since yesterday I've been keeping myself from bailing out but did not and now today I'm over another $10K to the good (actually $14K as I type). I know it's a lot of money especially in ZAR terms (x 7) but at what point do you say to yourself 'OK - this does not happen every day - and Parabolic SAR in the long run will make many $$$ even if when you first get in your initial profits per pair are not so great'? Then of course there is the way that the world markets are going south as it would appear that the more stocks fall the better the profit on the pairs that I do have open positions on. Then you say to yourself 'Based on Parabolic SAR these positions still have a long way to go before a stop and reverse'. Then you say to yourself 'can these ???/JPY pairs REALLY reverse in such a violent manner so as to wipe out all of the money on the table'? I mean - can they? Put it this way - I would feel a whole lot better if my PSAR stops had reached that point where profit was locked in because at the moment - if all of these pairs reversed 'violently' - that would be the end of my good fortune I can tell you!!! I mean to say - the S&P closed yesterday below a very key level - there are people on Bloomberg talking about the JPY strengthening to multi year highs etc. etc. (and I know I should not be even watching Bloomberg right now but looking for direction and not sure where to get it other than rely on Parabolic SAR).
Regards,
Dale.
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