Getting set up for a USDCHF entry a little early, but I go for it anyway! Realize this is on a simulation trading account, so I have no fear…
“Fire all of your guns at once and explode into space.” is a line from Steppenwolf’s song, “Born to be Wild.” I couldn’t help myself and I was in for my limit of 50 open trades on this account.
Of course, moments after I closed my last trade, the market slaps me on the way out. If you watch the video, you’ll see what I mean.
And, it’s always easy to see with 20/20 hindsight. This would have been round two, had I stayed to play.
After today’s sessions (of the BCS (Bankers Close Strategy), two rounds), I realized I’m still getting into the trades a bit early, although I did better today as you’ll see and hear in the videos I’ve shared. This realization leads me to believe that there is simply something not quite right about the overall timing of this strategy. Because if you’ve seen any of the previous sessions and the after-bankers-close sessions that I sometimes trade, you are likely to see what I’m seeing, that I’m getting out too early, too!
So, I’m penalized twice sometimes. Once by my early entries, which sometimes are taken out by my stops. And, again when I close my trades soon after the London close, only to watch as price continues to move in my direction. The penalty there being pips I did not get because I thought I was done.
Tomorrow, I’m going to shift my time frame to the right by 10-15 minutes and see how that affects my bottom line. If it is an improvement, then I’ll be re-writing the BCS again for my post in the Forums.
Wish me luck. I’ll see you soon.