Finished down 50 pips - really just two trades against me - One was a statistical fluke and the other was an experiment gone wrong
Today's mistakes - getting impatient - I need to stick to my signals, Also I tried to trade against the day candle rather the 30 or 60 minute candle - would have eventually turned, but I suspect the differential was too great for the relationship to be impactful.
although I did notice two thing today
- If the first minute of a 30 minute candle opens one way, the 30 minute candle tends to close that way (this may not happen until near the end of the time period. In other words if a candle opens short, go short, if a candle opens long, go long - well not quite - look for these moves in conjunction with long and short indicators, unless there are no indicators around if price has been surging up or down, and
- If you get an indication to go one way, but the candle moves against you initially, subtract the amount of that move from your take profit level when the candle finally confirms your entry. You will get a profit opportunity, but the 30 minute candle will probably close against you if you try and ride it.