Extreme price action in a single day is a reversal of trend in FX. It is not 100% correct but if you believed you have conquered your FEAR, and do what you have to do in case it goes the opposite, then you are a good trader.
I myself is amazed on how I bought EUR and CHF at the right day. That I have no explanation as per Sultan of Currencies quote, "Once you were right about the trade numbers, it would hardly be surprising that you would get the direction of the market right. Even dreaming about the exact price levels is not so absurd, because you have an exceptional feel for market swings. "Lipschutz. Market Wizard
"The consistency you seek is in your mind, not in the markets. It's attitudes and beliefs about being wrong, losing money, and the tendency to become reckless, when you're feeling good, that cause most losses—not technique or market knowledge."Mark Douglas
P.D. I am in cash in FX at the moment, waiting for the right time.
P.D. I am in cash in FX at the moment, waiting for the right time.
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