Good (Thursday) evening (OK: it's NOT been a 'payday' Thursday but it's STILL been a good day)!!!
First:
GBP/ZAR:
'Approaching' the (SAR) line is NOT good enough i.e. price HAS to CLOSE (in this case) ABOVE the line otherwise it's NOT a signal no matter HOW tempting it may be!!!!
Second:
Have you installed my latest version of the 'indicators' i.e. the one with the 'OHLC Order' 'thing'??? It WILL keep you 'out' of 99% of the 'bad' trades.
Third:
USD/ZAR:
At the current price I'd NOT be comfortable going long no matter whether we're being given a signal or not.
Fourth:
USD/JPY:
The USD is 'tricky' right now in my opinion i.e. I'd be 'loathe' to 'bet against' the USD BUT having said THAT what we're seeing is either a correction OR the USD rally is 'overdone' OR 'not genuine'.
The 'bottom line' of all of this:
You just need to 'sit back' and wait for signals from the VS. If the VS tells you to take a loss (or 'Enron') then do it. DO NOT attempt to 'justify' staying in because 'you feel' that price cannot go lower (or higher) 'than this'. If you have to 'Enron' a postion: BELIEVE me you'll get 'back in' at a better price.
MONEY MANAGEMENT is the 'key'!!!
And: as MUCH as I THOUGHT that there were signals 'on their way' things have turned 'for the better' BELIEVE IT OR NOT. I mean: take a look at GBP/JPY. It's ALSO a 'big payer' and very 'popular' and it has continued it's slide. The (our) VSC(1) has kept us 'out'. BUT: WHEN we get a signal to go long you can be sure that your returns are going to be EVERYTHING you 'dreamed of'!!!
I KNOW I'm saying the same things 'over and over and over again' but really: 'it is what it is'.
Just 'BEAR WITH ME' and watch your money management!!!
Furthermore:
I've said this time and time again:
The WHOLE REASON why these trading systems 'work' is because of the 'no stops'!!!
I KNOW it can take YEARS off of your natural life to trade without stops BUT you just take a look at the threads on this website!!! The stops 'eat away' at your capital. As a matter of fact (and I CANNOT remember who said this) BUT: I remember reading a post that said something along the lines of 'stop losses are for people who do not understand money management'!!!! (I sincerely hope that post was by somebody I like)!!!
HANG IN THERE!!!
GOOD EXAMPLE:
My 'tip' for the Nasdaq today!!!
Of COURSE I'm 'down' on the Nasdaq today. So what??? A year ago I would have 'bailed' the moment I saw a loss of more than $50!!! NOW I know that this is ALL 'BS'!!! If the Nasdaq does NOT turn and rally on Monday or Tuesday next week: I will PERSONALLY come over to wherever in the world you may be and take you out to dinnner AT MY EXPENSE!!! The point is that no matter HOW much I 'swear' by these systems that were developed by 'the old man' there is ONE thing that they DO NOT and CANNOT take into account and that is 'market sentiment' which is MOSTLY fuelled by the likes of Bloomberg and CNBC!!!
If you're using CORRECT money management: you have NOTHING to fear!!!
JUST HANG IN THERE!!!
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