After listening to so many chapters of this great book, I’ve found a very good reason to be happy with my trading today. Why am I proud of this result? Because in that third round, I did not trade. That is part of this strategy, if it doesn’t set up, don’t force it. When you do what’s right, be happy.
Bankers Close Strategy Basics
https://mousehelp.tinytake.com/sf/MjQwNDQ5N183MjkyOTY3 – Round 1 – just getting ready. Explaining the rules and details of the strategy.
https://mousehelp.tinytake.com/sf/MjQwNDc1Nl83MjkzNTQy – Round 2 – on CHF, too early and recovery post-close. This is 52 minutes of impatience and patience in the same session.
https://mousehelp.tinytake.com/sf/MjQwNDgzNV83MjkzNzI5 – Round 3 – No trade, flatline on PA, RSI, everything! If you only watch one of these videos, watch this one. Herein lies the best lesson of the day. The two images below depict the EUR and GBP vs USD and both show the price hugging the mid-band. Since the mid-band is the target price on BCS, there is no trade here!
The two images below show how wrong things can go if you get in too early. The last one shows where the price was after I was completely out of the trade.
Still sitting on the Fibonacci level support at 38.2%. Sometimes you just have to believe the fibs.
Friday often not a good trading day… It’s in the details of the BCS (Bankers Close Strategy).