I have stopped trading in the last days because of a health problem. I had only these trades a couple of days ago. As price was going to break the resistance (previous high), an intense movement forward and backward took place and my stop was hit. It was too risky to widen the stop, waiting for the almost sure (?) breakout. I have done this in the past and payed a lot.. A tight stop method like mine is vulnerable when applied on breakouts. That's why I apply it mostly when price is in a mid-range.
"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.
"Μηδείς αγεωμέτρητος εισίτω μοι την θύραν". Plato
"Toute lucidité est la conscience d'une perte". E. Cioran
There is nothing to sell on this blog. No signals, no "systems" for sale. Just my trading plan and the recording of my trades on eur/usd and the fx euro future recently. And the books, the music, the films I like.
The Forexbird is a professional currency trader. He is also photographer and engineer, a maths and music addict and curious about everything.
Late session again, just before the Friday's close. First trade entered late and gave a predictable loss. Second one was even worse, a...
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The author is not liable for any loss or damage which may arise directly or indirectly from the content of this website.