AUG 06/2009 Recap - GBPUSD / EURJPY
ShaneD
The London session still fails to perform to our expectations on the 144..especially on the cable. To be honest, that session is dragging down our overall performance. One look at the charts on higher time frames (4 hour), you can see what the problem is. We need some definite resolution in the price action. Perhaps after FOMC day on the 12th, we may see some.
Still, even with a few setbacks, we lean on our trading system and trade plan to help us weather the storm. Now is not the time for drastic trading changes. We need a larger basket to fully grasp if this time frame and how we trade it is setting us on course for an ever increasing account size. One look at the equity curves on the stats shows that we are doing just that.
These videos are exactly what new traders should be doing. Backtest and forward test until you can do the following: 1. trade sets up according to your criteria 2. trades goes on End of story.
If you are still sitting there consistently unsure of applying the setup to your fully funded live account, you have not fully completed the required work to getting on a proper course as a full time trader. Not just required work...but a paradigm shift to that of consistent and successful traders.
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