So this past week I've been trying out a swing trading strategy. Rules being watching for trends i.e. breaking through psych levels of .XX2 or .XX7 and limiting at 50 pips.
I made over 100% returns in the past week. Went from $10,000 to $23,000. But that's been with a 100% win rate. I need to observe this system longer, to see what happens when I've identified wrong swings, and cut my losses at how much.
For example, during the AUD/USD consolidation between 0.772 and 0.768, I went in early at 0.772 for the reversal/stophunt. I got it right - but had it broke downwards to 0.767, I would've cut my losses and converted to a short position.
Let's see how this goes. Trade safe.
Yours,
X
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