Friday 21 May 2010

details

Here's my trading in a nutshell (demo anyways!)

i swing trade fundamentally correct trends;i try not to catch the reversal itself, though that would be great. Instead i try best to understand what's happening with economics, let the reversal happen, so that i understand it. Once the trend has begun i average down into pullbacks in these fundamentally correct trends, my max risk on these trades is pre determined and about 2-3% risk, target of the trades is at the retracment's high and stop loss is wide and above the previous high/bewlow previous low.

I have a daytrading activity going on too, i trade the hourly charts of GBPUSD and average down into pullbacks in trends, using 50/200 EMAs and multiple timeframes to help with that. It is entirely possible i'm long GBPUSD on a swing trade and short it on a day trade.

No trend no trade.

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