Saturday, February 9, 2013

Critically assess losing trades

If you are inconsistent take a critical look at your winning and losing trades. What do the losing trades have in common?

I was having many losing trades from 5 min on 3rd/4th move in London morning session. I cut that trade out. Now I couldn't care what that trade does as I know statistically its a high risk venture.

I cut out 5 min higher low/lower high trades that were counter the London morning direction that were set up from weak 1hr candles pre/early US session. Again now I don't care what those trades do, for me they are a high risk bet (a solid engulfing post US news candle a different story). If we are not in already from London open we are waiting out pre/early US session counter trend moves and looking for London's direction to resume.

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