EUR/USD 5min
Still no valid entry for EUR/USD. I thought it was forming a head and shoulders pattern.
Thanks @justshell. Iāve been observing the whole week and canāt find good trades. Iāll probably change things up a bit next week or Iāll add more currency pairs to study.
Good job on keeping the thread updated @CoinLady! I think it really helps motivate people to trade more with this sense of accountability. At least thatās what it has done for me. Haha. Anyway, keep it up!
Thanks @ria_rose! EUR/USDās movement didnāt fit within the rules of 3 Ducks much of the whole week. So Iām thinking of adding more currency pairs. Iām also interested in harmonic trading. Thinking of doing that too hehe. But Iāll probably start with adding more currency pairs to study.
Nice work CL!
Buying or selling arenāt the only trading decisionsā¦ not trading is a valid trading decision! I think Dr. Elder - Author: Welcome to My Trading Room - calls it āstanding asideā.
Study, study, study!!! I like to move a chart back a year or so and click through a candle at a time marking all my longās and shorts, based on PA, with red or green vertical lines. Iāve found this very helpful in my study of price action. I have never tried it with the 3 ducks strategy though.
Good luck!
FR&L
Tnanks @frandlost! I was waiting for a good setup. Hopefully it happens this coming week. But Iāll also be adding currency pairs to study.
Iāll do your suggestion.
I super agree with @frandlost. I remember Manxx also told me the same thing! Sometimes, itās better to just stay in the sidelines and watch rather than to take a trade youāre really not sure about. I know it gets a bit boring, having no open positions. But, at least, you have less things to worry about? Haha.
I spend a lot of time standing aside. The majority of it. I think it helps to have some things that you can do while not on a trade, so you can still keep an eye on it and not obsess with staring at a chart the whole time. I find that if I have something to do, it helps keep me from jumping in and doing something silly just because Iām bored with not being in the market.
You can study, play a game, practice music, whatever, as long as you can still keep an eye on your charts so you donāt miss the opportunity when it comes up.
Youāre right! I think itās best, for newbies at least, to focus on maybe just one or two pairs. If you can master trading those pairs with your strategy, then youāre set! There really isnāt a need to trade anything else in my opinion. The more pairs, the more risk
Still no trade for EUR/USD
donāt get discouraged, just keep on going and youāll eventually figure out a nice strategy. Just remember to backtest the strategy as much as you can in order to determine itās winning percentage. Iāve heard a number of times that youāre strategy should have a winning percentage of over 60% or more. If anybody can chime in and add more detail in regards to this then that would be helpful! I had a string of losses yesterday, idk where my head was at, set no stop loss, emotions went crazy lol butttt I just gotta keep going forward and work on not making the same mistake
Hey CL, what is the context you are looking for.
The Ever Inquisitive VIPER