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[HC]

More directionless swinging.

[jjs]

Yeah...I was caught as well...was fortunate enough to be able to re-align and close flat.  Market seems to be waiting for something...can feel it in my bones.

[jjs]

ECB Repo Rate...

[HC]

Here is the quote from Art of War that I can relate to this trading method:

The good fighters of old first put themselves beyond the possibility of defeat, and then waited for an opportunity of defeating the enemy. To secure ourselves against defeat lies in our own hands, but the opportunity of defeating the enemy is provided by the enemy himself. Thus the good fighter is able to secure himself against defeat, but cannot make certain of defeating the enemy.

To fight and conquer in all your battles is not supreme excellence; supreme excellence consists in breaking the enemy's resistance without fighting

Move not unless you see an advantage; use not your troops unless there is something to be gained; fight not unless the position is critical. If it is to your advantage, make a forward move; if not, stay where you are. Anger may in time change to gladness; vexation may be succeeded by content.

-Sun Tzu

My money management thought on how a trader can secure himself against defeat when trading this method:

http://chartistsunited.com/forum/index.php/topic,547.msg3026.html#msg3026
http://chartistsunited.com/forum/index.php/topic,547.msg3049.html#msg3049

[jjs]

Move not unless you see an advantage; use not your troops unless there is something to be gained; fight not unless the position is critical. If it is to your advantage, make a forward move; if not, stay where you are.

For me, this sums up almost everything about initiating a position.

On another note, a friend who didnt believe in stop-sweeping or babysitting...lost 100+ pips last night...about 15% of book...