What’s a “dud”? It is those times when nothing seems to happen.
Sometimes you don’t see the explosive price changes you hoped
to see. Realistically, most of your attempts will result in a dud,
but the winning times more than pay for your wasted time.
Maybe you picked a wrong time, or the Fundamental
Announcements were not really of any importance. Anyhow you
should know if the trading session is a dud if nothing significant
happens within three minutes of the anticipated Announcement.
This is part of the reason why you increase the highs/lows by 10
pips, so you can usually get out before you get into a trade. At
this point close any pending entry orders. If one of your entry
orders have been triggered then “oh well”, it’s like a coin toss – it
may or may not go in your favor – just set the limit for 20 pips and
see what happens. You could end up with a 10 pip loss or a 20
pip gain. As soon as you are in profit of 6 or more pips then
immediately replace your stop at the entry price, this way if it goes
back down the trade results in a zero loss (or you could exit the
trade manually to take the small profit – your choice). Cross your
fingers and hope it results in a profit, but at least you shouldn’t
loose. If you are going to experience losses with this system then
this is where it will happen (unless you foolishly forget to
strategically trail your stops on winning trades as explained in this
eBook).
Plan now for the next trading opportunity. Please remember that
not every time will you experience those price explosions, but
they do typically happen several times a week, and when you
catch some of them you’ll profit handsomely.
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