Forexmospherian
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Afternoon gents
Beer in hand and reviewing the past weeks trades, entries and exits and surrounding context and levels and of course price action.
So important. I only look at the losers... They're the hardest to look back on and it is easy to dig your head in the sand but you need to know what went wrong!
See you gents tomorrow, Monday should be interesting with the deadline for Greece. Maybe I should find another pair to trade, any recommendations F? 😆
Hi CS
Always a good idea to review and check out your last weeks trades etc- especially the ones that just never go to plan etc.
I agree - always try and find out what went wrong with the losses.
Some bad weeks I can have over 15 bad trades ( scalps )- whereas really good weeks less than 8. They can be for so many different reasons - I do expect to have more on the EU simply because there will be more false set -ups and manipulation etc. I except I will get losses - but if I can keep them under 3 or 4 pips - then I feel I am at least focused - whereas if I let a scalp that makes say 6 or 8+ pips and I dont get out with any pips at all - that's my own fault etc - and its the cost of short term intraday trading.
With regards to the Greece problem - I think we will be OK in the morning up to Midday time UK - barring the normal Open plays etc - but then the US session etc - all depends on so many factors etc.
Ideally look at the AU / NU / GU as alternatives - and then crosses like the AJ / GJ etc if you want to stay away from both the Euro and Dollar pairs
The market as normal - will want to catch out as many traders as possible.
Nothing will surprise me with regards to the Euro this next few days or week - ie - we might try over 1500 / 1600 - and then fall 700 pips - or even fall 3-400 pips in the first part of the week - and then once all the bears are in and things look bad for the EU - the market rallies up 400 pips .
For large moves - always keep an eye exactly on any hour change - or within 5 mins either side of it.
Moves that last over a few hours are too easy to follow - so the market makers are after ideally 3 to 15 mins of real quick pain - ie 50 - 200 pip shock moves to catch all out
Good Luck with your plans - and lets hope the market will be kind to us and we can all enjoy another good week
Regards
F