A man may ride a donkey but at least the donkey is heading in a direction!
If you're a day trader do not hang out for the big waves. You do not need to wait for key announcements that can take you 150 pips up or minus 150 pips if you get it wrong. Tsunami trading can hurt you.
The pairs that I monitor every day are -
EUR/USD
GBP/USD
USD/JPY
EUR/JPY
CHF/JPY
GBP/JPY
USD/CHF
EUR/GPP
and crude oil
Capture 20 pips on 15 min charts for 3 candles after a signal or 45 mins and multiply that by 5/8 and youre likely to gain 100 pips versus 3 wrong trades of - 10 pips x 3 or - 30 pips.
Therefore net 70 pips can be booked regularly daily without even having to face a 50/50 prospect of a windfall or a wipe-out on a market data release.
Trade modestly as a day trader and you can pick up these cherries regularly as you see the patterns repeat over and over again.
Trade small and accumulate in the long run.
Happy trading!
