Good statistical plan... so what can go wrong!? Another Forex Trading Snack.
My law of big candles does fail and has a 33% failure rate. But that doesn’t mean you can not learn to bend the odds in your favor, along with putting you on the road to greater successes in the future.
In my previous post on EURAUD I posted up a trading strategy. My law of large candle strategy. And I don’t want to get people thinking all I need to do is look for big candles and there-in-lies The secrets to success and money will rain down into your trading account!
Trading is the hardest easy money you’ll ever try to make!
Just a fact!
Have a look at this AUDUSD same setup as my EA trade. The EA trade made over 100 pips and this one lost 30 pips. Why? Well, I did say that this strategy has a 33% failure rate according to my trade rules and statistics I’ve been keeping on the setup. So what gives, what’s wrong with the strategy if anything?
As in all markets, the market is never wrong! The market will give you head fakes, the market is manipulated by bigger money players, my stop might have been to small, my entry might have been to tight, but most of all—it’s impossible to figure into the mix future volatility no matter if that volatility is 5 minutes from now or 5 hours or 5 days. It’s just impossible!
As a trader take statistical outcomes into account before you change setup strategies or even trading strategies. Jumping around to fast from one thing to another all the while looking for success will have you passing up those diamonds in the ruff that will produce consistent positive results over time.
Volatility happens!
Learn from your efforts and stats you keep.
Trading takes as much practice in trading a strategy as it does with everything in life you expect to improve at.
In trading you either make dust or you will eat dust!
All the best in your trades.
This post isn’t trading advice, nor is it anything you should be trading without personally excepting all risk of loss involved with trading.
