Man, I really need to have more faith in myself. When I was trading biotech PFUDA meetings during Q3-4 of last year, because of the huge volatility and FU candles involved, I learned to do half risk and double SLs. That kept me in the trades and even got me a few winners (20-60% gains on a trade, but really small sizes). The problem I found was that it became difficult to get enough oomph from the upside. Pyramiding was a thing I had considered, and if I exited a trade or got stopped out, my plan was to then reverse direction. It seemed plausible in backtesting, but I never had a chance to put it into action. Right now I'm sitting out of trading in general - taking time to tweak things and collect some short term bonds and writing some CC's against my long positions while I figure out what to do next. Great ep as always!
@@NoNonsenseForex Well like I said, I'd rather roll something safe in the meantime until I'm ready to give it a full 100% attention. No sense halfassing it, eating a bunch of losing trades, and then dipping out just before the winners came around like what happened last time. And also, lots of funny news events in the first two weeks of this year. It doesn't mean much, but we're off to a fun start at least
I noticed something very interesting setup on the DXY over the three major news releases. I have been bearish on the DXY since the end of last October, so overall even with the move up the first week of the new year, I have been looking for a swing lower. I may have found that with the spike higher after NFP which was followed by a move down until the CPI report. The CPI cause a spike higher but not higher than the NFP report. If you are familiar with the Optimal Trade Entry (just a Fibonacci retrace to around the 61.2 to 80% levels) it set up a shorting opportunity. The following release PPI completed the OTE move lower the next trading session. If a market has been trending longer term I will now back test how often major release cause spikes in price against the longer term trend that can be faded back in the direction of the longer term dominant trending move. 🤔
After almost 2 months of listening to you every day, i'm finally up to date. I can only say thank you for the series. Time to switch to the flat earth trading videos now :)
Thanks VP for enriching our vocabulary, you most definitely must continue with the adjectives
You're welcome! Maybe avoid using scrumtrelescant tho
Man, I really need to have more faith in myself. When I was trading biotech PFUDA meetings during Q3-4 of last year, because of the huge volatility and FU candles involved, I learned to do half risk and double SLs. That kept me in the trades and even got me a few winners (20-60% gains on a trade, but really small sizes).
The problem I found was that it became difficult to get enough oomph from the upside. Pyramiding was a thing I had considered, and if I exited a trade or got stopped out, my plan was to then reverse direction. It seemed plausible in backtesting, but I never had a chance to put it into action.
Right now I'm sitting out of trading in general - taking time to tweak things and collect some short term bonds and writing some CC's against my long positions while I figure out what to do next. Great ep as always!
Brainy dudes like us are very prone to analysis paralysis.
@@NoNonsenseForex Well like I said, I'd rather roll something safe in the meantime until I'm ready to give it a full 100% attention.
No sense halfassing it, eating a bunch of losing trades, and then dipping out just before the winners came around like what happened last time.
And also, lots of funny news events in the first two weeks of this year. It doesn't mean much, but we're off to a fun start at least
Great video. Good timing 😂
I noticed something very interesting setup on the DXY over the three major news releases. I have been bearish on the DXY since the end of last October, so overall even with the move up the first week of the new year, I have been looking for a swing lower.
I may have found that with the spike higher after NFP which was followed by a move down until the CPI report. The CPI cause a spike higher but not higher than the NFP report. If you are familiar with the Optimal Trade Entry (just a Fibonacci retrace to around the 61.2 to 80% levels) it set up a shorting opportunity. The following release PPI completed the OTE move lower the next trading session.
If a market has been trending longer term I will now back test how often major release cause spikes in price against the longer term trend that can be faded back in the direction of the longer term dominant trending move. 🤔
I don't use some of your methods, but I appreciate the meticulous approach.
After almost 2 months of listening to you every day, i'm finally up to date.
I can only say thank you for the series. Time to switch to the flat earth trading videos now :)
This episode is such a gold mine, especially before SEC announcement for BTC ETF… I can’t understand why it has such a small number of views…
Trading with emotion or by feel is trading with a "NON-Expert Advised-you-after" algorithm.
bitcoin
First!!!!