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Albatross!

Albatross!

"what flavour is it?""well it's... seabird flavour, do you want some or not?"While an albatross used to be good luck before some idiot killed it, it is better known as a bad luck icon. It seems that my trading style has upgraded from magic 8 ball to albatross! I have my own homework charts and review them before I dive in but it seems that I am predicting 24hrs ahead. Currently I am a few thousand pips down over the past couple of months since I started trading, so my advice is to slow the roll, keep checking the data and if you spot a pattern like my 24hrs, trust your gut that it is going to continue. I've stopped trading and am now watching the pattern to see if my predictions come true, hopefully albatross will soon be shamrock and I will make those pips back up over time.

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Comments

  • Nice post Phedre and always good to watch the markets and practice as long as you need to because they will always be there. Happens sometimes that when a newly developed strategy is implemented the market seems to completely trade against it.

    The reality is of course, the strategy was not a good one and was not suited to the ever changing conditions. On the flip side of a Lucky Euro coin, a strategy may work well for up to 2 years or more. Again, when complete failure occurs we can say this type of strategy was also condition based. So in essence, trading really is know thyself as well as knowing the market conditions.

    P.S. It was the Ancient Mariner who shot the Albatross with a bow and arrow in the Rime of the Ancient Mariner written by Samuel Taylor Coleridge. 26.gif

    Best Regards,

    Sir Gissa

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