Hello everyone, I open this diary to share my experience operating exclusively exotic pairs over the next 30 days. I want to get out of my comfort zone and face wider spreads and unexpected movements. My goal is to improve my risk management and my ability to adapt in less liquid markets. I will update every day with my inputs, outputs, errors and learnings.
I love the idea, but why risk exotics when majors are complicated enough?
Thank you for the question. Precisely because I want to reinforce my discipline. In exotics a mistake is paid more expensive, so it forces me to follow the plan to crack. Today first operation in USD/TRY: I entered short after break of support, closed +47 pips.
I don't even play the TRY, its volatility gives me nightmares.
Keep posting, I'm intrigued by how you'll handle the sudden jumps that those pairs have.
Second day: operation in USD/SGD. I expected a setback in daily endurance, but I came in early. Result: -25 pips. Learning: Patience is key, even more so with high spreads.
At least your loss was controlled, either by keeping a tight SL.
I don't understand how you can read the price stock in exotics, they're so erratic it looks like casino.
Day 3: USD/ZAR. Entry after false break in 15min, I won +60 pips. Spread was criminal, almost 8 pips, but compensated for fast movement. I confirm that if you do not expect confirmation in these pairs, you burn.
This is pure gold, keep sharing. I learn more here than in many courses.
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