Yet another session of maintaining discipline and preserving my capital. I started at 8.36am and finished at 10.21am for a total of 0 pips off no trades again.
What can I say, I saw no opportunity where I was comfortable enough to trade. I did however, see plenty of jerky movement by the Cable during parts of the 8am candle, during the whole 9am candle and part of the 10am candle – but none that had the correlated support with momentum of the other currencies. In addition, when I asked myself the question, would the trade go positive straight away if I got in, the answer was always no.
In fact there were a couple of scenarios where I for a moment contemplated getting in on a trade on momentum alone, but at the points that I would have got in during my gambling days, the candle reversed abruptly and if I had got in, I would have ended up with a big -6 or so pips. This reminded me again of how important it is to follow the rules and wait for the right opportunity, rather than gamble.
So, my capital has been preserved this week and I feel a hell of a lot better with my performance in the last 5 sessions than I have done for the last couple of months.
As I said a few posts ago, I was to finish this year on a high......
No comments:
Post a Comment