Hey traders, how is everything?
You know, tomorrow could be a volatile day… the FOMC statement is due tomorrow and it has proven to be the most important fundamental release, at least the one that has the most impact in the market.
So you have to be careful, because the market will go crazy if we get something different from what traders/investors expect.
I follow a simple rule, if my trade doesn’t have more than 80 pips on my favor, I just close it.
You don’t have to break your mind creating complex rules.
Retracement or Breakout Signals?
Which one is better?
The truth is that both of them work… each one of them have their own advantages.
You could set your order on breakout signals and go away… so if you don’t have much time, just use breakout orders.
Retracement signals tend to have a tighter SL.
So I like both of them, I dont have a special preference… As long as the signal is in the direction of the market condition, I take them…
What’s your take?
Ok, now lets take a look at my signal… by the way, it is a retracement signal.