Sorry Hot, no didn't mean to create a new topic board as such. and nothing earth shattering i am afraid I just wanted to tell you about my Dax trade yesterday and to share some knowledge and ideas to help make us more profitable.
As of late ive been getting more and more trades right, generally smallish gains but across various positions such forex comods indices and shares etc. I get things right particularly when i devote a lot of time to seeing the whole picture as such. eg 24 hr news events following indices or currency pairs through several days and over 24 hour periods. Also by applying my own set of values and rules, eg macd, stochastic rsi ma etc. plus setting stops and limit sells.
Ive been getting some good info from FX Empire and from Chris Beacham and Joshua Mahaony from IG. Yesterday I was shorting the Dax quite successfully in and out.
The hourly candle went below my target price for a longer term short and it turned round and went north and kept on going north. I was expecting it to eventually turn back again but i got stopped out on a fair old loss before it ever did turn. What i realise is the big mistake i made was i didn't respect support. I had forgotten to respect it on a short. I always draw lines of support and resistance gong long but on this occasion didn't do it going short and just thought it would carry on going down. Well thats it really. Gl