For those following, I mentioned that I signed up for the free 30 day trial of the FXCM System Selector and attached the TrendEscape trading system to it for the GBPUSD and GBPJPY forex pairs. Yesterday when I checked, I was about $2000 down from the demo portfolio.. it started at $100,000. The last trades where a short of both the two pairs which amount to losses.
Right now, the account has dropped further.. another $1000 and the current live trades are slightly down at $100 loss or so....
February 27, 2009
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My trading of late hasn't been particularly good.. I know I haven't updated the blog with these trades but in total, I had traded 6 times with a total loss of around 500 pips! Ouch!
Anyway, last night, I sat and spent a lot of time thinking... where did I go wrong? What happened to the success I was having?
I think the key to being successful is to be adaptable... the trading rules change when the markets change.. you need to have a trading strategy for trending markets and ranging marke
February 27, 2009
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