EUR/USD Beginner Level trading
I was short on Franky after seeing the bearish engulfing pattern, but got stopped out, I was away from my computer & by the time i came back i opened a long position and recouped some of the loss. I am done for the day, as it is past my trading hours.
I did not trade today because I am working on something. Normally the price tends to attract towards the options barriers cluster first. Today it from 1740-1760.
So, I would have longed the pre Franky at the overnight low till the cluster high or mid, if I were trading it. But this is totally in hindsight.
I am long on eurusd after seeing the rejection at the pre-franky low, and price below the SMA
I close my long position in profit. But let me add that i also recorded a smaller loss initially when i attempted to go long thinking price will move towards the 750 barrier.
I am done for today, as its almost past my trading hours.
I get stopped out at breakeven
Trading EURUSD: Lessons from 14 Years of Experience
After 14 years of trading EUR, I've observed some key patterns that every trader should understand.
Market Behavior Has Shifted:
Trending days weren't always this common. Since Trump came into power, we've seen a notable increase in trending behavior. Mondays tend to be particularly strong trending days, though I can't say the same with certainty about other weekdays.
The Reality of Range-Bound Markets:
EURUSD can easily trade within a 15-pip range for hours during the London session. There are specific periods throughout the year when ranging conditions dominate. This is why I take profits when they're available and sometimes leave potential gains on the table.
Exit Strategy Is Everything:
Based on what you've described, you let a 30-pip winner turn into a breakeven trade. That's a costly mistake. In trading, your exit strategy determines your success more than your entry.
My approach is mechanical: I take 10-12 pips and I'm out. This removes the emotional decision-making from exits. You need this kind of systematic approach.
Prepare for Reality:
The current environment where you can randomly buy highs and sell lows for easy money won't last forever. What's your plan when that changes?
Trends can make rookies feel like professionals - all you need to do is expect continuation. But this feeling is temporary and dangerous.
The 80% Rule:
Markets range 80% of the time. Plan your strategy around this reality, not the 20% when they trend.
Moving Forward:
Next time, secure some profits along the way. If you prefer trend trading, be prepared for regular disappointments - but also for the occasional big winner that makes it worthwhile.
You did well overall. Keep up the good work, but refine that exit strategy.
I am long on pre-franky after forst 15m candle break. Option order information is not yet out so i do not know where the option barriers are yet. SL is at DMR1
I am short on eurusd because there are option barriers at 525, 500 level so price may likely move to them.
Today, this is what the market looked like at 6am. I have marked out the Pivot Point. Option barrier info is not yet out.
I close my long trades. The two trades I took were during Pre-Franky. When Franky started, there was too much volatility so i couldn't take a position. I am done for the day.
