Swingtrading forex

not really following my plan to the T and inventing new setups on the spot which leads not to optimal trading. Better stick to my rules and diligently follow them. Out two times -5 pips.
 
adding insult to injury today: very poor trading because lack of proper setups that I missed and 'invented' a few new ones which didn't help. Overall being too impulsive didn't quite help.
I got a good system and should just stick to that ...
Tomorrow is another day.
 
padutrader said:
I was wondering why you did not enter a short position. In my opinion the pair is headed to 1.2221.
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I know you said you need not worry about support/resistance, pivots, or which wave the market is in. Nonetheless, this is why I did not enter a short position. Even if I had my eye on 1.2221, I would have had to have waited for GBPUSD to break through 1.2600 in a decisive manner before pursuing it.

GBPUSDDaily.png
 
ok, thanks, I quite learned a lot today on the positive side and I got myself some extra setups (not delusional ones ;-)) by adding moving averages to my arsenal. That should make things work better in the future and will have more trades so I don't have to sit around so much ideless in front of my screen ... this is what tempted me to take half baked ones today. It shouldn't happen anymore in the future ...
 
cvds16 said:
will have more trades
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you should make more money not more trades

but if you want to scalp then you should prepare for it...

it took me 12 years to be profitable at scalping and it is the toughest thing in trading.... so go there with eyes totally open
 
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