Cutten, thank you for your post and implied questions. The long-term trend guides the only direction of my trades. In other words, during a long-term uptrend, I will not enter short EUR trades, I will only enter trades from the long side. I use risk managment and stop losses to attempt to stand-aside during these difficult period of retracements. There is no question that when trading from the long side in the midst of a retracement, one is going to experience losses. However, the game is to make significantly more profits when the trend resumes than you lose during these retracement periods. I read price action to trade from the long-side during uptrends. I suppose the ability to read price action and take stop losses is an integral part of trading the trend.
Chinook's EUR/USD (E/$)Mumblings
- Thread starter chinook
- Start date
Quote from Gringinho:
Hehe, Andy. EURUSD is too funny too.
Perfect, I think.
A revisit of the mid 1.27s seems pretty possible now - roughly 100 pips away.
Toggling 1.30-ish in the range as a midpoint would be pretty upsetting for markets - and perhaps the best venue for some time. [/QUOTE
Yea, what a nice display of a failed breakout. Well, a new trend wouldn't hurtHave a nice weekend everyone
