Time in Bayreuth is nearly completed now. Heading back to London on Wednesday morning to resume work in the new office. The new office, a corner-office, has big windows overlooking a park on one side and a High Street on the other, so that should make us all feel much better in contrast to the prison-type office that we used for the first nine months of the year.
Carried on with EURUSD today – paying attention to the following:
- Multiple timeframes for entries
- Smooth/consistent trends – thanks to this requirement, when I now look at the account history on the D chart, I can see that nearly all of my trades occur during times when the market is trending – and that very few trades occur when the market is going sideways – this is exactly what i want to see.
- Position Management adjustments suggested by PW – quicker closes on high momentum, for example using a trailing 2-bar stops
- Looking out for more price action signals and technical patterns, particularly so on the higher timeframes – have spotted several day 123 patterns on 5M and 15M which I have put into play
- Attempting to add to winning positions
Also took on live trade on DAX, the first trade in about 3 weeks. Setup was good, from the 5M chart, but was stopped out by 2-3 pips before price continued going down. (see image)