Why I waited until today to enter EUR/USD Short

2020-01-02 22:52:32

Hi guys,

Happy New Years to you all,

This is my first post this decade, in this first post, I would like to explain why i wait until today to enter short position of EUR/USD.

As you can see on the chart,as a swing trader, i'm supposed to short EUR/USD at the price of 1.1200, on Dec 30th 2019 but i didn't.
There are 3 mains reasons for this:
1. During around the last week of the years, most traders, hedgefunds, banks are off for holiday so the volume of the market is very low => high spread, many sudden moves to kill stoploss.
2. Based on history, when the market opened on Jan 2nd, it moved wildly (~180 pips for E/U last year) USD/JPY moved 400 Pips on the same days => the risk is too high and not managable.
3. I've been trading for the whole year, it's time for relaxing,there are too many opportunities in the market, missing some is not a problems.

When the market opened today, the opportunity for selling opened again and i enter the short at 1.1211 and by this time the profit is 30 pips and running.
My point here is that trading is mostly about managing opportunities, you have to decide whether an opportunity is worth following ? whether the risk and reward is good ? whether you will feel comfortable to follow it or not ?
Don't enter the trade if you the Reward is Less than Risk, don't enter the trade if you don't feel comfortable, don't enter the trade if the market condition is too hazard for the trade.

Have fun trading.

LEARN MY RULE BASED STRATEGIES:
- Learn to manage risk before trading with real account
- Swing trade takes time (3-5 days)
- My probability is about 70-80%, it means that 20-30% chances that we can be wrong.
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