Awesome. He Made about 1500. He really is good
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Non Farm Payroll used to scare me, now its one of my favorite days. 
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Got ate up by EURUSD in the last two days. Not fun. Was hoping for a bounce up off 1.0835 (bottom of my resistance zone), but I guess the jobs report had other ideas. Stopped out. Ugh.
Germany is in a mess, so the Euro has no reason to go up. US might have another rate rise to come. Eurusd buys would only be short retracement moves for me. Donāt bet against America
Trading thoughts:
In my opinion, the SL IS the reason people lose trades. If traders put the SL in a traditional place, they will lose like the overwhelming percentage of traders do.
I added another long position to my Eur/Usd so now price only has to get halfway to my original entry to BE. This strategy could continue another few times.
If it looks like there is no chance price returns to the original entry, Iāll close that entry and continue to work the trade until its a win. The market gladly takes our money because it knows we donāt have the patience to give trades the time they need to be successful. How much time is that? Its whatever time it takes.
I go with small entry sizes because I want to keep any pain at a minimum, and because I always hope to be adding entries along the way.
Managing open trades may not be fun because it can mean taking away the pleasure of daily trading while we wait for days, weeks, or months to get into good profit. But we know deep down, thatās how the big boys play. Surprisingly, it is less stressful, and very rewarding.
I still enter trades with the expectation of a fast profit (Kof mostly). When it turns into a marathon, shift to managing with D1 chart.
All the options open up. The D1 trade can run its course or it can be closed if all oneās open trades (on all pairs) add up to a desired profit level, even if the D1 trade is a loss.
I find when I have a D1 trade open and it has been in a losing position for days, I more than make up for the negative profit of it with other winning trades on other pairs. Then, I continue to manage the D1 trade until that is a win as well. Iāve been working on hedging so that its a race to see which pair gets the profit first. Then I make sure the other one makes a profit.
As Iāve said many times lately, it barely matters if I chose the initial price direction correctly. There is ALWAYS a pullback and learning how to manage it for success is the greatest skill that can be mastered in Forex trading.
One manās opinion.
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I think thereās always a trend within a trend within a trend. So maybe you got the first one wrong, but like AT says, thereās always a pullback and then back to the stronger trend.
USD going nuts! Was just down 30 pips on a USDCAD long and now Iām up 20 pips. In 5 mins.
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Just went for a walk with EURUSD short positions open, slowly moving in my favour. Signal was bad so I stopped checking from my phone confident that it wouldnāt turn against me (I had no red news for today, canāt read). Turned on my laptop to see a huge jump in favour, so quickly closed the position with a lovely profit way more than I expected today.
This has happened against me many times in the past, itās nice to finally have one go the right direction for once.
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Great timing!
Lucky timing, because Iād have come home if I realised there was a big news release at that time. But itās nice to finally take advantage of the things I know the market does, but I struggle to do when in a trade. I know a big candle like that will almost always retrace before making its mind up if itās really going down or not. But normally I hold on just to see if I can catch a big movement. None of that today, partly helped by having had a fairly large exposure and not wanting to risk anything
Smart play, I waited, retraced, lost plenty of pips. But Iām still in the trade (USDCAD) and itās turning green. Hoping it stays that way.
Howās your week going, @AmericanTrader. Trading any? Also, can you remind me what PSAR settings youāre using at the moment?
Happy trading!
50 pip move on the 5m on USD pairs. Anybody get caught without an SL or maybe a sweet TP? Holy moly!
Actually EUR and JPY pairs too. What the heck was that?
Hi Samewise,
I hope your week has been going well.
Iām still managing Eur/Usd and Aud/Chf trades. Looks like Iām in for the long game. Could be a few more months on both.
I do still scalp a few days a week too. KoF with PSAR to see if I can catch runners.
The PSAR settings seem to be pair sensitive and require frequent adjustments.
Eur/Jpy M1
Yellow PSAR set at 0.0003/0.2
Fomc meeting. Totally expected for USD to move wildly up. The market expectation for future rates seems lower than reality. Itās like everyone has forgotten that 5% interest rates are normal
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Fed Press conference. Duh.
Sure did!
Had a +6% last week! This week, up and down, slightly up, which Iāll take any day.
Is that because youāre down or because of TP levels?