“INDICATOR OF THE DAY” - COIN TOSS TRADING
It is very important that discretionary traders realize that if a position doesn’t feel right, then it probably isn’t. One principle which we try to apply to our trading on a daily basis is to feel as strongly about our position as we did at the moment the trade was initiated. If at any time after the initiation of the trade, we feel less comfortable or unsure of the outcome, we will look to take to the sidelines rather than leave ourselves exposed to the potential regret of being in a trade that ultimately did not feel as good as it should have. There will be plenty of times that a position will not work out even when we do feel strongly about a trade, that it is simply not worth, nor can we afford being in the trade when we are less certain of the outcome. If you feel there is any element of a “coin-toss” outcome to your position, then you should simply not be in the trade.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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Joel Kruger publishes 6 daily pieces:
“Tech Talk” – A Daily Video Highlighting Technical Developments in the Overnight Session of Trade.
Monday-Friday (between 5:30am-6:30am EST)
“Morning Slices” – Morning Overview using Fundamental, Technical, Flow, and Quantitative Analysis (Includes “Trade of the Day”).
Monday-Friday (between 6:30am-7:30am EST)
“Indicator of the Day” – A Feature Report that Highlights our Most Significant Technical Indicator of the Day.
Monday-Friday (between 8:00am-9:00am EST)
“Midday Snapshot” – A Midday Fundamental Update, along with Technical Analysis of Selected Rates.
Monday-Friday (between 10:30am-11:30am EST)
“Scandi Daily” – A Specialized Daily Fundamental and Technical Overview of the Nordic Currencies. (This report is only distributed through email. Please contact [email protected] if you would like to be added to distribution.)
Monday-Friday (between 11:30am-12:30pm EST)
“Daily Classical” – A Daily Technical Overview of the Major Currencies.
Monday-Friday (published between 2:00pm-3:00pm EST)
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