FBT Kicked In, Need to Tidy Up Rules!

FBT (fear based trading) kicked yesterday. 2 main reasons ...

1. Too much to look at , 4 intraday pairs.

2. Wasn't sure of my plan.



As Paul says "Ambiguity in a fast moving market is going to kill you". So I am off my intraday method for the next few days while I tidy it up and get it rule based.



More in vid if your interested.

Intraday Trend Strength

Spent Friday intraday trading as couldn't find any swing setups.



I have 4 pairs I watch EU, EG, AU and GU, yesterday this was exhausting. I could really have done with whittling down what I watch at the begging of the day to reserve energy and to avoid missing good trades.



What I noticed (at the end of the day of course) was that the EG was by far and away the strongest trending pair and offered the best M5 price action. This was because H1 price remained above its 20SMA and with the surer H1 trend the more fluid M5 price action became as there was more conviction in the direction of the EG. The opposite was true for the other pairs which spent at least some time below their H1 20SMA and subsequently their M5 charts offered far less appealing price action.



Ultimately it's great to have a several pairs to watch as you never know where the strength is going to show up. But I can start reducing my workload quickly by concentrating solely on the pairs that respect there H1 20SMA in relation to their trend.