Last night, the EUR/USD just larfed around and couldn't decide which way to go. Every breakout was a fakeout. Every big move was a big tease. Often, when this happens, we experience losses. When we experience losses in situations like this, we tend to want to change our system. Here is a view of what happened last night. I call the EUR/USD the Newfie/USD because my Canadian friends tell me that people from Newfoundland might be a bit backwards. So was the EUR last night:
So what happens when we change our system in response to a Newfie Move?
Usually, it means that we lose big time. We change the system, and then the market DOES follow through. Then we change it back again, and we are caught in a seemingly endless cycle of altering our system and losing. Over and over. This is like a gambler in Vegas who loses at one table game and then moves on to the next. He loses there too, and then moves on. But he needs to be playing a totally different game, learn it well, get an edge, and never violate his rules.
That's what you need to do as well.
