One of the MANY problems I was having before was a screwed up R:R. Most of my winners were getting 2-5 pips, and my losers were -5 pips (or even more!).
The way I trade now is looking for tight reversal or consolidation patterns. This allows me to have super tight SL's. Most trades I'm looking to only risk about 2-3 pips.
This would really work out a lot better on the NYC/London overlap, because I could hold my winners longer and they would wipe out the losers. However, at least today, the winning moves were pathetic at best.
I'll continue to trade this and get better at spotting entries and see if London is really tradeable on this.
I've also worked really hard on breaking my habit of counter trend betting. I mostly took shorts today, only 2 longs.
Stats(demo):
Net Pips: -11.4
Trades: 9
Winning Trades: 4
Pips/Trade: -1.26
Win %: 44
Also yesterday I tested the difference between FXDD and LCG. WOW. FXDD : LCG as a Sledge Hammer : Scalpel.
Too bad minimum pip size is $10 for LCG, so it'll have to wait.
There were a lot of really badass entries that I missed. I'll get them next time!
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