I definitely take into account what US indices are doing some pairs run with and some run the other way. Double tops/bottoms, H&S and big spikes. You know the usual classic formations. For right now, because I'm a complete beginner to forex too. Maybe we can learn together.
thanks guys, i'm an engineer by training i want to quantify everything i do too.
if i could, i would creat an algo but i don't know what i am doing, so wing it right now.
if you can't quntify, then you don't really know what you are doing.
I wait till I am certain, either way. IOW, I don't go outside my discipline whether the trade is profitable, or my stop hasn't been triggered. I am constantly second guessing myself, and I welcome that. But I need a lot evidence to counter my rules.
What do you mean when you say my "initial" stop? Either have a stop or not right?
This sounds a little counter to the stated spirit of the thread, ie integrity where you have "initial" stops and then more to follow.