EU referendum - All trades right but can't beat volatility
Why I never tabulate Tflow® Forex Trading Strategy?
Over years of trading, I've not done any actual tabulation on performance. Because I'm selling education and knowledge, I don't believe in tabulating my performance, because no one can behave exactly like the other person (note, in trading particularly, there's greed and fear, we function SIMPLY differently). I am not saying there's no rules, I'm just saying there will be a difference. No person thumbprint is the same, even twins isn't it?
Then what did I do to track my performance?
Simply money in my account. That's the best indicator.
However, since start of http://onlineforexmaster.com, I thought I should do something different. In The Alien Room, this is a place that I post what I think. They are my market thoughts, market rattles, crazy ideas and of course, what I like to do for my trades. These are however not forex trade signals.
Nett win 490 pips since last date of tabulation 23 June 2016 on a 3 weeks trading.
These are my market rattles, my thoughts. I have to emphasize, I record all my trades including losses.
3rd week into http://onlineforexmaster.com, we got into EU referendum. Those trades that were spiked out (just exceeded our stop loss by 10 pips average), were ALL correct in direction. In fact, most dropped by another 200-400 pips.
Focus on your trade management processes, not just results - how we managed our trades into EU referendum
Get the trade management process right and money will come flowing it. This is something where I think a lot of new traders are not realistic about. Not only a trader needs a winning method, but he or she must be able to manage those trades along the way. In my years of mentoring many traders, I have not seen anyone behaving in the same way using the same method, not to mention during times of extreme volatility.
Having taught the same method, some traders want to brave the storm of EU referendum, while some might not want to. I chose the careful mode before voting result was released.
Here are two trades which I have specifically closed out ahead of EU referendum. However, if I did not choose to do that, then those levels that I wrote will be hit and we would have a handsome win.