"When i trade at home, I often watch the sparrows in my garden. When I feed them bread, they take just a little piece at a time and fly away.They keep on flying back and forth, taking small bits of bread. You will never be able to shoot a sparrow, it is just too fast. That is the way I day trade". M. Weinstein.
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3 comments:
Hi, I'm wondering if you would change from the 3 range you now use if the volatility changes within the eur-usd? Or to ask it another way, how often do you (if ever) check the ATR of the eur-usd?
Thanks for the charts and posts I find them very inspirational......G
Hi G
Range 3 is what i consider best after comparative studies with r 2 and 4. If i had to increase my stoploss, i could opt for range 4 or 5.
I always check ADX 10 on a 1 min chart. I try to avoid trading if this stays below 30.
I have seen people losing their account on reversal more often than with any other problem so I would suggest we should be really careful when it comes to trading on any kind of reversal a wrong move is really tough to handle for beginners. I am lucky to be able to make earning through all kind of situations because of OctaFX broker, as they have excellent rebate service where we can earn up to 15 USD per lot size trade.
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