USDJPY - SELL
I feel your frustration on the GBP trades. Its going up so you buy - LOSE, its going down so you sell - LOSE.
Also on AUD/NZD, but here’s where a difference enters between our styles. You’re frustrated that you bought and lost, I’m frustrated that I set a buy order which has not been triggered. I’m not saying you’re a bad trader, I’m not saying I’m a great trader. Its very possible that over a year you’ll be making a better % return than I will.
What I’m saying is that now we have reached a certain level, it is the small differences that contribute with increasing power. I wait for strong set-ups and only enter by a pre-set order, not a live click: the order is set where price confirms my theory.
On AUD/NZD it has not confirmed my theory.
I may move the order price.
Thanks for your message!
You make a really good point, and you could easily be right. Setting orders would be a far more ‘organised’ and ‘disciplined’ way of filtering out those PERIODS OF TIME where the markets just aren’t playing the game the same way. I firmly believe most of us traders have a spell where our style lends itself to the current environment; and we coin it in and believe we are hot sh1t lol I know I have, and I know I did
Let’s give it a go
That’s it. Right now I am staying clear of the GBP pairs, too much news-induced nervousness causing silly volatility.
By the way I have cancelled AUD/NZD buy. Its a rubbish pair to hold as the two currencies are so closely matched most the time, so I’m never going to be married to this one but sometimes it offers an opportunity. And I thought it did. Damn.
I’m the same. I only really get involved in the AUDNZD for the ‘sport’ which would be less stupid if I was a better and more consistent trader another +1 for your ‘orders’ philosophy. It would probably reduce the silly decisions. I think I enjoy trading too much almost - I end up getting involved in things that I immediately regret. I need to love it less and make more rational decisions.