Besides scalping here and there, I am taking a new approach to placing my orders for my longer term feelings on a given pair.
In the past I might start buying a pair before hitting what I thought was the ideal target entry price, figuring I have a small exposer and I can ladder in and walk away with some pips over a couple days. The new strategy is probably going to be deemed more professional by the more experienced traders on the board.
I am doing my analysis and insist on playing the waiting game until i get filled at my target price. In the past I see the pivot points but my patience has me too eager and getting in just to ride teh position negative and stress about geting out with my shirt and perhaps a few pips. I am hoping the new approach will offer as much fun, but with a greater reward.
I know people may find this the obvious approach to trading, but it is new to me so any feedback is appreciated.
Currently I have buy orders in for EURUSD at 1.4550 and AUDUSD at .8260. You may ask why not short them to there...I don't know, I am not confident that a short will pay off and I an figuring that waiting to get filled at a support level will be more profitable.
In the past I might start buying a pair before hitting what I thought was the ideal target entry price, figuring I have a small exposer and I can ladder in and walk away with some pips over a couple days. The new strategy is probably going to be deemed more professional by the more experienced traders on the board.
I am doing my analysis and insist on playing the waiting game until i get filled at my target price. In the past I see the pivot points but my patience has me too eager and getting in just to ride teh position negative and stress about geting out with my shirt and perhaps a few pips. I am hoping the new approach will offer as much fun, but with a greater reward.
I know people may find this the obvious approach to trading, but it is new to me so any feedback is appreciated.
Currently I have buy orders in for EURUSD at 1.4550 and AUDUSD at .8260. You may ask why not short them to there...I don't know, I am not confident that a short will pay off and I an figuring that waiting to get filled at a support level will be more profitable.