I have no edge in these market conditions. Today's movement consisted of a 23-pip range. Well, it's hard to make money when price doesn't actually go anywhere. I need to find out a way to identify these days before I have a string of losers. The thing is, both yesterday and today, there seemed like good movement prior to the London/NY overlap, but as soon as the session started, it just stopped. I thought this method had an edge. It only does if the euro actually moves, though, which it usually does. But it's like anything else in trading--today you should do this but tomorrow you should do that. Last time it did this but this time it will do that. It looks like it's about to do this but it's really not. Except for the next time, when it does. I find it really hard to develop my edge when everything is always changing and nothing is constant except uncertainty.
Anyway, I've reached a drawdown point where it's dumb to just keep throwing money away. I'm going to cut my position size 3/4 and try to have a winning day. Of course, volatility will be huge tomorrow and I'll probably kill it and wish I hadn't cut down size. But that's trading.
Today's results: -6R
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