Are you looking for guarantees? I'll let what I have to say speak for itself. If it's useful to you, great. You'll be the only and best judge of that.
The length of time I have been trading and consistently profitable is irrelevant.
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SIgma-D: A Simple Approach to Trading Forex
- Thread starter Sigma-D
- Start date
The length of time I have been trading and consistently profitable is irrelevant.
QED.
The reference to Houston gives it all away. You wind in the numbers like it can be programmed or as if it's written in the stars and once set in motion can never be changed. An 85% chance of hitting your 15 pip target does not equate to a 15% chance of losing your entire 100 pip risk. Blind positive expectancy ignores the existence of the trader making sensible decisions in real time to effectively manage his/her trade.
What is the likelihood with a 15 pip target and 100 pip stop you just sit there and watch the price come all the way back to take your full risk off the table?
All performance metrics are worse than unreliable; they are positively misleading.
Then why did you make use of a performance metric only to delete the post? Was it because your example proved to be unprofitable?
I haven't deleted any posts.Then why did you make use of a performance metric only to delete the post? Was it because your example proved to be unprofitable?
I haven't deleted any posts.
My apologies. You're really verbose so it took a while to find the post.
To anyone thinking I should have stayed in the long trade through the news, they probably would not have been saying that if it had taken off in the other direction. Especially with such a relatively tight stop, I'd have been taken out for a loss rather than an almost 1:1 reward/risk.
The trick is not to worry about stuff over which you have no control and to exert sound decision based execution strategies in-trade.
eur/usd has operated within the core sector levels almost to the pip this morning and has just hit the primary target at 46. Given the upper boundary wasn't breached before the cut-off time of 11:15 BST there is still just a 43% probability of it making it to the second target at 3673.
The trick is not to worry about stuff over which you have no control and to exert sound decision based execution strategies in-trade.
eur/usd has operated within the core sector levels almost to the pip this morning and has just hit the primary target at 46. Given the upper boundary wasn't breached before the cut-off time of 11:15 BST there is still just a 43% probability of it making it to the second target at 3673.
To anyone thinking I should have stayed in the long trade through the news, they probably would not have been saying that if it had taken off in the other direction. Especially with such a relatively tight stop, I'd have been taken out for a loss rather than an almost 1:1 reward/risk.
The trick is not to worry about stuff over which you have no control and to exert sound decision based execution strategies in-trade.
eur/usd has operated within the core sector levels almost to the pip this morning and has just hit the primary target at 46. Given the upper boundary wasn't breached before the cut-off time of 11:15 BST there is still just a 43% probability of it making it to the second target at 3673.
You were stopped on the first long... Which you failed to mention.
I've had one trade today. A long eur/sd taken at 3608 with a stop at 3598. I closed the trade at 3617 ten minutes prior to US data release at 13:30 BST.You were stopped on the first long... Which you failed to mention.
eur/usd current mode is Long.
I'm not trading the dead spot, but you could reasonably take a long punt to the upper sector boundary at 3619 from here 3607 with a stop just below the median level at 3601. 12 pips profit for 6+pips risk ain't my kind of thing but it's a potential better than 1:1 reward/risk for those hungry for some action. And of course, a potenitally good entry for getting on board to the primary target if it should develop.
This was stopped.
What part of "I'm not trading the dead spot" did you not get?This was stopped.
edit: Even if I had taken a trade at that point where I specifically said I wasn't, and had placed a stop below the median level which is what I suggested, it wouldn't have been stopped out in any event.