Trade 1: Sell EUR/USD, result $433, 13 pips
Trade 2: Sell GBP/USD, Result $1149, 38 pips
We are traders and masters of risk. When you become pro you stop over analysing and all you do is sit there, and wait, and wait, and wait some more until you find the perfect trade. What I am saying is that the market makes all the decisions. Our only decision is to listen, feel, and respond to the market’s siren. Always and without exception. Remember, the market never lies. It is only we who lie to ourselves.
Tuesday, March 20, 2012
Trade EUR/USD & GBP/USD March 20, 2012
Trade 1: Sell EUR/USD, result $433, 13 pips
Trade 2: Sell GBP/USD, Result $1149, 38 pips
Monday, March 19, 2012
Successful Trading requires patience!
Patience is a really important factor in successful trading. This is where a lot of newbie traders fall victum of crashing their accounts. Once in a while we have the urge to do something out of the box. In trading we must always stay discipline and follow our plan 100%. This plan allows you to draw and setup your trading to precision like a sniper. We wait for our target and we take advantage with super precision. Patience is virtue. If you don't have patience to wait for your setup you might as well quit trading. Its quite that simple.
Sunday, March 18, 2012
Saturday, March 17, 2012
Trading results Mar.11.12 to Mar.16.12
Trade 1 $0
Trade 2 -480
Trade 3 +318
Trade 4 +$840
Trade 5 +$1250
Total profit: $1928
Total trades: 2
Winners total: $2408
Losers total: $480
Winning percentage: 60%
Risk to reward ratio: 1:5
Trade 2 -480
Trade 3 +318
Trade 4 +$840
Trade 5 +$1250
Total profit: $1928
Total trades: 2
Winners total: $2408
Losers total: $480
Winning percentage: 60%
Risk to reward ratio: 1:5
Thursday, March 15, 2012
Long NZD/USD March 14, 2012
Long NZD/USD
Entry: 0.81093
Stop loss: 0.8091
Take profit: 0.8147
Result: $318.94 (+900 was possible)
Counter trend trade. Looking for small profit here. Decided to take quick profit since markets are in a downward trend. Looking back I should of left this pair since I was already broke even and could of caught my 1:2 risk to reward afterwards. My bad on this trade was my emotions, just getting out at market order and thinking the market will move in my direction. Remember to execute your plan perfectly.
Sell GPB/USD March 12, 2012
Sell GBP/USD
Entry: 1.56810
Stop loss: 1.5707
Take profit: 1.5619
Result: $-480.62
Didn't follow my edge today and this one got me. Should of traded the resistance on the down trend line. Its alight since its only a small loss. We will live to fight another day.
Wednesday, March 14, 2012
No trading tonight - no setups - Jobless claims coming for GBP/USD
U.K. jobless claims are projected to increase another 5.0K in February and the ongoing weakness in the labor market may instill a bearish forecast for the British Pound as the fundamental outlook for the region remains clouded with high uncertainty. As the Bank of England keeps the door open to expand monetary policy further, a dismal labor report could spur speculation for more quantitative easing, but it seems as though the Monetary Policy Committee will preserve a wait-and-see approach throughout the first-half of the year as central bank officials expect to see a stronger recovery in 2012.
We will sit on our hands tonight and see how the UK jobless claim comes out. Plus no setups means no trades.
We will sit on our hands tonight and see how the UK jobless claim comes out. Plus no setups means no trades.
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