End of the month – strange was September.
The month started with my worst 2 weeks of trading in 6 months………..and after several months of not hitting my targets a radical re-think was required. An old adage was replaying in my head “do what you always have done and get what you have always been given”. So have to admit a few things :
1) I cannot manage the market successfully on 5min or less timeframes
2) Equally I cannot manage 5min timeframes and many pairs to boot
SO from mid sept I changed tack, not overall strategy but how I was to perceive the market :
1) No more 5min timeframes……..I will assess the market on 30mins / 1hr
2) No more chasing the dragon……I cannot possibly understand all the delicate nuances of each pair traded in the market. My mentor is helping, he trades just 1 pair on intra-day and suggests I choose one and do the same.
Results were quite startling……..from 50% win/loss ratio at the beginning of the month to 85% non-losing trades in the 2nd half. Of course I need to use this new “bigger picture view” when the market is in its different cycles to assess my true performance but the signs are better
3 winning weeks on the trot on intra-day trading……1st time ever !
Typical trade today on EURUSD a 1-2-3 over DP on the 30min chart for 30pips