The pullback is done and up we go, risk on is back, Stocks should have a nice positive open as well
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what started out very bullish finished mixed with lots of reversals, the stock market also struggled, Nasdaq and gold got hit hard
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Take your pick AUDUSD or NZDUSD both remain strong and with trillions of new dollar printing on the way this may continue
Also, note as the dollar has fallen Bitcoin has been on the rise
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Note, I will be on the road next week so I may miss a day or two, I defiantly will not be posting on Monday
Letās keep making pips and hang on to your Bitcoin
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Not much has changed so far this week, a little bump for the Pound,
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Top Trade AUDUSD moves higher but the Story of the day is Bitcoin blowing through 20K
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Hi Dennis on a rough estimate how many pips has your system the SW accumulated in the last month? Iām thinking of doing the FTMO challenge and would love to use your system for this. Thanks in advance 
very good !!
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Top trade AUDUSD grinds higher up about 90 pips from its Dec 10th entry
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My two most recent SW Trades AUDUSD and NZDAUD have combined for nearly 500 pips
I donāt do a lot of backtesting myself as markets are always changing and just because a backtest worked for 2020 does not mean you will make the same pips in 2021. Best to stick to a proven system with years of positive results like my SW Trades, they just work
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I have a busy weekend ahead so I am posting this early as I may not have time on Sunday
Everyone following my Top Picks should be making money and as a Bonus, I have been urging you to own Bitcoin
Everyone have a great weekend
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And here is why I hate stops, big down mover early in top trade AUDUSD, lots of traders would have been stopped out on this only to see price recover by days end
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I never question a traders decision and in particular to experienced traders such as yourself but why donāt you use stops other than risking getting stopped out?? I can appreciate you are displined in your trading and know when the trade is failing and you need to take a loss and get out of the trade. However how do you manage should your computor die or you have a blackout or your internet crashes. How do you manage your trades??
Below is where I would have placed a stop. What is your opinion??
Cheers
Blackduck
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Glad to have you on my thread Ms duck,
I am a position trader, I like to trade in the direction of the long term trend buying or adding on dips. In reviewing my trade history ( stocks and currencies) I found 90% of the trades I was stopped out would have been profitable had I used a much wider stop or no stop at all. So rather than a stop loss ( which I call a guaranteed loss), I prefer to manage my risk through position size. Having a very wide stop also puts you at risk of your stop being hit during a flash crash,
Now for day traders having stops makes more sense
Now this is how I trade and it may not be for everyone
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@Dennis3450, Couldnāt agree moreā¦ Just look at the GBPUSD this weekā¦ Thereās no telling themā¦
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Yes that makes sense.
I position trade with options and in most cases I like to sell either put or call options rather than buy puts or calls. Unfortunate as the writer of the contract a seller of puts and calls assumes all the risk and in the case of a market crash that can be devastating.
I mostly day trade and so stops for me are second nature.
Happy Trading
Cheers
Blackduck
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Yes, you are right I agree with you.
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