Wednesday, November 13, 2013

Utterly Disappointing

I think my biggest disappointment is setting a stop entry last night in the NZD and a trailing stop. I was so bloody spot on, because it hit exactly at my stop entry to enter and turned around exactly at my stop. How unlucky can that be? Perfectly turned around, just to screw me over.

I was doing marginally okay for the past few days. I lose a lot, I win some, I was pretty much the same when I closed my good USD/CHF trade. But basically, over the past day, especially with this absolutely horrid NZD trade, I've managed to lose half my profits of that trade. It's a horrible slide down.

I am now trying to shy away from event risks as well as weird fundamentals and I've been looking at all sorts of pairs and only basing on fundamentals. Hopefully I can catch a slow stoch reversing and set my SL just behind it's peak and let it run well for me. I'll be looking for slow stoch that are bumping off fib lines, low volatility and nice candlestick patterns.

Once I exit my current trades I have, I should be looking to always have 3-5 trades open for these technical trades. All while I'm waiting for the equity market to go haywire. I think that I will most likely be going 1/3 each into S&P, Russell and the NASDAQ. I'm under the impression that when things go sour, people are going to pull out of Russell and NASDAQ first.

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