15.5 hours (had trouble doing the math)
7 of which sleep.
Idea: If SNB intervened around 1.5030-60 less than 24 hours before - why not again today?
But no intervention seems to be going on really... so I thought I'd close the trade.
P&L: 27 pips
[Edit: After reading the above I really must question my logic - if SNB intervened below 1.5060, why would I buy above? Goes to show that mostly my impatience gets in the way!]
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Follow up on intuition I found at forexbirds blog:
"Back in 2007, although I had allready 2 and half years of forex trading experience on my back, I was still hooked on indicators, "systems" and methodologies found on technical books and the internet. It took me another two years to emancipate myself from all this stuff and to evolve towards simplicity : all I need now is to feel the price movement. Nothing more, nothing less. No indicators, no systems, no trading teachers or gurus. I still have indicators on my charts but I don't pay much attention to them anymore. Trading, scalping especially, is pure geometry."
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This is an extract from an article on marketwatch.com:
"Last Friday, furthermore, Richard Russell, editor of Dow Theory Letters, who just a few days previously had declared that the intermediate and primary trends were now bullish, changed his mind. "I had no specific reason to do so," Russell explained to his clients, "except for my gut-feeling." "
Interesting no?!
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Forget it, FXPT. I decided that no one's going to buy the "gut feel" theory. All the trading gurus teaching trading out there will not support it, and no new traders will want to know that they can't really learn about trading from anyone except the market (when they have paid their dues) :-)
ReplyDelete;) I'd love to read a book about just successful gut-feel traders. Like in "Market Wizards"; there was one guy based in the caribean always watching a quote screen somewhere in his house and picking his levels based on nothing but velocity, momentum, price levels, macro news.... Trading is a bit like religion, several can co-exist independently, and more than one path leads to rome, or mecca or gains :)
ReplyDeleteTotally agreen on the trading like religion part. There is a stock god and there is a fx god as well!
ReplyDelete