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Is it time to buy the Euro?

I was asked a great question this morning regarding whether now is the right time to be buying the Euro. In this video I explore this question. Note the same question may be applied to Bitcoin or many other markets.

Some things to note:-

1. Catching tops and bottoms only really feeds the ego and does not reflect the cost of being wrong multiple times before being right.

2. The action in the middle is fine. You will likely have fewer stop outs and the pschological damage that goes with it.

3. Look at the trend, in particular look at the price bars. Where these are predominantly bearish with smaller bullish bars, the momentum is to the downside and visa versa.

4. Plus I have not even looked at the big picture fundamentals!

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What should you do if you are on a winning or losing run with your trading?

In this video I discuss the senario where you have either a long winning or losing run. Historical stats may show one thing but only reality is right. Thus a run of 5 winners may not have been seen before but that does not mean it will not happen, the same is the case for losers. So what do you do when you are having such a run? reduce the position size? leave the next trade? Increase the position size?

If you know the stats on strategy, (you should do, as how else do you know if you actually have an edge?) you should just check that something unusual has happened, but otherwise carry on as normal. Trying to second guess the outcome by changing the trade size or not taking the next set up may only result in a loss of opportunity or indeed a bigger loss.

Let me know your thoughts on this.

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