Forex Thoughts No. 3

The month of May has turned out to be a painful one for me and my Forex trading account. I didn’t trade as much as I did in previous months, instead I opted for more of a “swing” trading strategy by buying on dips. That strategy proved to be a bit hazardous to my profits. The EURUSD sold off from its second test of its all time high and then dropped down to the $1.34 level. I began to average down and prune some over-leveraged losers in the process. I continued with this crazy strategy because my neural nets continued to flash “BUY” signals. I didn’t become concerned until last week when the model started flashing “RANGE.” This signal indicates a possible price holding pattern in the currency pairs OR a possible trend change. Right now I’m still long 603 units of EURUSD at an average price of $1.35377; the currency pair is trading at $1.34885. :) [tags]Forex, AI, NeuralNets, Currencies, Trading, Euro, Dollar[/tags]