Quote from brisvegas:
Hello from australia . just found this thread as i was looking for a decent FX forum , had forgot about ET and hadnt been here for eons. i took a position long on friday at 13050 based on channel TL support . have held over weekend . have a fairly lose stop . had a good last week catching most of the move down on AUD so can risk a bit on EUR . USDX might still have a little more before retrace to fib 8404 so i have to have a stop that wont get whipped on that . also a fib level on EUR around 2960 also , i may have gone a little too early but the channel was not to be missed either . this is the chart that prompted my entry . absolutely no one ive talked to said they would have gone long there and that suits me fine but i had to turn of the Mirc FX channel i was on of as the constant bears on eur were getting inside my head a little. didnt want to get turned of my trade by weight of opinions . anyhow here is my chart , see how this pans out
................. bris
There are pros and cons about mechanical trading. Markets evolve, so the performance can fluctuate imo. I have learned not to try and optimize an exit strategy or try and develop too many filters. I think there is a happy medium and that should be good enough.
