Having a difficult time here. Made the mistake of breaking my rule of "Small Positions" in my anxiety to claw back losses of the past 2 months quickly. Last night's price extension in AUD+CAD stopped me out, and as a consequence, also removed my -US10YY hedge. After weeks of being taken on an emotional roller-coaster by these markets, it was one ride too many. Need to dis-engage.
Left with long Gold only.
4 comments:
Hi, I am a stranger that regularly stop by your blog. I am contemplating switching to T4L for some time now, 3 years I have watch the screen day and night, 7 days a week, and tried many trading systems. My humble suggestion. try H1 chart, EURUSD, just trade one MA line cross. I am sure given your expertise and experience, you know how to reduce false signals etc. babysit the trade, long screen time, when you recoup your loss, than you can go back to your way of trading.
Thanks for your suggestion and appreciate your kind thoughts.
I mean go back to the primitive basic way, no hedging, only one market, one trade. Btw, I have read your trading rules.
Sam, trading the H1 chart requires a completely different mindset from trading the weekly chart. Therefore I wouldn't advise it. Psychology is very important in trading, and you've got to do what works for you. One cannot easily mix timeframes like you suggest. Get comfortable with a timeframe, set rules that work for you in that timeframe and stick to them. [easier said than done, as I know from personal experience]. Btw, trading the H1 timeframe is not really a sustainable strategy for T4L in the long run, imho.
All the best.
Pandu
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