Thursday, December 3, 2015

New Trade


Wow, I am so off right now. Good thing it's only a demo account! I got rid of the 24 pair scanner and went back to scanning the daily charts while using weekly for a general view. I only managed to feasibly get into one trade that I liked per my own personal trading engagement rules. I'm now trying to use the indicators appropriately for how I used them.

I guess I was trying to loosely adapt them into a more aggressive trading style, but it's made my results unsubtle. I guess for the weekly, I'm just caring about price action and trend momentum being at overbought or undersold conditions. I'm pretty much going to dedicate myself with looking at the charts at least once a day and try sticking to my personal trading rules.

For this EURCHF pair, I have the SL at the high of yesterday while having gone bearish. Within minutes, I saw that the market was 7 pips in profit after making up for the spread. I guess these higher time frames could also help with scalping pairs as well. My goal is to catch a long and profitable ride while working at a reliable signal. I have 24 pairs to work with, so I'm seeing some action even though it's mainly turned out bad so far. I've been able to get a few 100 to 200 pip trades, but I'm trying to make sense of it and get it working for me!