Hi Turtle.I'm not interested in where the pair closes the day so long as I have taken trades in the anticipated direction at sometime during that day. The fact that the EUR/CAD ended lower yesterday is completely irrelevant as I saw an opportunity to go long (Buy) as anticipated and the trade hit the profit target - I made money, my clients made money - that is all that really matters.
You're a clever man, Andrew. I won't even suppose you don't make money trading. I might suppose you don't make so much or you're not foolish enough to think trading isn't fraught with hazards that can drain an account (not at .23 lots maybe) that you spend most your time and energy trying to sell rather than just doing what you try to sell your clients, an easy life remote from the slavishness of sweating on a dairy farm, relaxing by your pool, laptop nearby.
If this were an order you gave your clients it would have been a market order based on the daily chart and your profit target would have been 1.5180 which would give you your desired 3.7:1 ratio. And you FPA "clients" would have been bamboozled. No way they could benefit from that trade.
Hi Bernhard,hi andrew
i watched over a time your advice and it looks good to me, just one problem. its your time zone. i have london time zone and we are almost 12h out. so when my trading day starts your suggestions are 12h off and often i see market has changed in that time. as today usdcad already got a nice move and i would be very late to enter. is it asked too much to make updates for european traders? now i have 8h52 a.m.