But, I have followed the system that I have been doing where I made 6 - 10 pips a time holding for 10 - 15 minutes a time. On the 1 minute chart My question is, is the system flawed or is the EUR/USD going wacky?
Also how many pips behind do you guys get down before dumping a trade? Currently, it seems i enter a trade, the ticker is going well, I am 3 or 4 pips from my target and then it drops .5 a pip, then up 1 pip then the bottom falls out.
I am just confused because for the past 2 months hardly ever had a losing week. Just 2. And I dropped, gulp, 25% of my account since last thursday.
Your losing weeks are 2 from 8 thats 2 over 8 = 25%.
You have lost 25% of your account? Can you see a pattern here.
Also in the last 8 weeks EUR/USD has had 2 short weeks, do these
correspond to your losing weeks?
Are you only taking long trades?
In a system where you are looking for small amounts of pips
you need to be very strict with stopping out any losing trades.
Therefore as soon as a trade goes against you, that is the time
to get out. There is no leeway here you cannot fall in love with
any trade in the expectation that it will “turn around”
Actually I did not realize until you ponted it out that 2/8 = 1/4 = 25% same as the loss since Thursday. Yeah I did trade to day and was very strict on my losses and I made a small, very small gain. I am still trading and do take a loss and still trade. Maybe that is why I I let my losses in a trade last too long. The Eur/Usd had two losing weeks but, no I trade both short and LONG. Actually I do better when I short sell. I think I a will demo a longer term system. I just hate to sleep during a trade.
thanks for your input.
And so SO sad that the Rangers beat the Flyers, my hometown team.