another nice pop last night I made 400$ trading both the euro/usd and the usd/cad.
I think I am developing a system and starting to see what is working and what is NOT.
I set entries for both the usd/cad and euro/usd then let it ride.
I have found that ... inspecting the chart using a 15 minute interval, looking for obvious points of strong support of resistance. I then set an entry point where if that point is hit, a position is opened in the direct of the trend.
I have also been trading without stops, which I know is bad but honestly, I have been consistantly losing money where I pick the trend right but got stopped out in a short term correction.
This is a BIG one here. Obviously I dont want to trade without stops. That is just too risky. It seems I need to have some capital protection and trading without stops is just plain dumb... but ... I am making money.
Unfortunately, I have been consistently losing money when I trade with a stop and making money when I trade without a stop.
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