Hi Surfers,
speculation is in action. Euro is fallen almost 500 pips without a decent pullback, it is now back below our monthly trendline and it seems impossible to catch it in any direction. We are not big boys, remember that guys. We are technical traders. That's why we are not in this business.
I personally need good risk&reward ratio to trade, all my strategy is about that, that's why I am flat during this international fundamental storms. I dont need to trade this big crash to make money in forex. We showed that in one year of success, repeating always the same receipt. Trade only AAA set-ups.
We dont trade news, or defaults or agency rating. We trade lines and StP Odd Patterns. We dont trade a pair once it is already close to D-S2. We dont like going short when a pair does not reach D-P for 2 days in a row. Why? Because numbers would be against us. We are small fish in the Forex market, that is the only way to survive. I have experience enough to say this believe me. Try to fake a rule one time and you will be hit.
I am totally honest, I am not gaining anything out of this big fundamental crash of the Euro. It is completely outside my strategy, I just watch and I dont feel I am missing anything. I trained my-self to think like a robot. Well, almost like a robot. And that "almost" is crucial, believe me. What I see is a super fast bearish channel within another bearish channel. I can't go long anyway in this scenario. But I can't click on the sell button when I open a chart and I see price already at D-S2 without D-P tested. I know numbers, I know probability, there's no intelligent reason to go short there. If market decide to continue, it will be without me.
To think like that is like open an insurance for your future. To think like that get you stronger. To think like that means make the final step into the goldmine. Trust me.
Let's continue trade technical and relaxed. I dont need 500 pips movement to make 80% in one year like we did in the last 12 month. It's the system giving you pips not the pip range. There's no system winning in every market condition, but there are only a few system not losing when it's not their perfect market condition. Surfing the Pips strategy is one of them.
It is not important to have a system who win sometimes, that would be easy, the key to be profitable is to have a system who does not lose during bad market conditions.
Think about it when you have to choose your Forex training and education.
Plan for the day? Waiting for consolidation, if we will ever have one. No plan right now.
StP