Kumowizard

USD Indx - Bought and stopped. Will 79 hold?

INDEX:DXY   U.S. Dollar Index
86 5 1
According to my prev. recommendation (https://www.tradingview.com/v/vYjKY4Lg/) I bought and got stopped pretty quickly. Anyway, the bullish setup was not really valid, it was rather a bottom fishing. Bottom fishing which as trend follower I should never do, but from time to time I try it. I already know I will try it at 79 again :-). The "reason" is: 79 is a very long time key support, and by the time px             gets there, the indicators will be all very much oversold.
The trick is whenever you do such contra trades or bottom fishing (or top hunting), do it only with 1/3 of your trading unit size, and never fall in love with the position, never increase it, just consider it as it is, simply a contra trade!

Would you like to have one more confession? I gave back most of the money to the Market (read I lost :-) ) this year on USD long attempts so far! The key is always position sizing, not winners/losers ratio! But still.... on USD I have not been correct
appreciate your sincerity a lot ! :))) Thanks for sharing experiences and insights.
Reply
Thank you too for following. Well, I will never tell u I was right, when I was clearly wrong on something :-) I will never try to prove anything like I have a winning hit ratio of 70 %. Rather trying to show what I think can be good opportunities, what is the risk reward, what are the odds, etc. It is a game of probability. The reason I am publishing is to stay consistent myself, and also help people to find the way to consistent trading.
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Barabaszek Kumowizard
Keep it up and good luck.
PS.It might be worthwhile to focus on other currency pairs to trade and the dollar return for some time? :-)
Reply
OK. keep an eye on 79.
Reply
Right, bound to find some support down there.
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