Posts Tagged currency

Some thoughts on Forex Trading

When many people first embark on Forex trading they think that their lives are going to magically change overnight and that their bank balance will triple. The truth is that mastering Forex trading doesn’t happen in only a few days or weeks and that one is bound to lose money before one makes money. In order to minimise losses and maximise profits it is vital to have a solid plan in place and a good understanding of common mistakes so as not to make them yourself. The number one most common

May 19, 2013 1 Comment Full Story

Trading GBPJPY – Frustration and Trading Psychology

Trading GBPJPY - Frustration and Trading Psychology

The GBPJPY trade. I went long GBPJPY the other day and initially, we got a great move.. up 50 pips. I expected the movement to go up much more and 50 pips is a relatively small move in the GBPJPY market. In the afternoon, the price action stalled and fell and then bounced. I felt that the price action wasn’t clean and as a result I closed off the trade with an approx 50 pip loss as I anticipated uncertainty. This morning, there were further falls and I felt great that I had got out of t

March 20, 2013 No Comments Full Story

Why it’s Important to be Consistent Trading. My Trading Results for the Week

Why it's Important to be Consistent Trading. My Trading Results for the Week

This week we had two trades.. AUDUSD long and EURJPY long. I'll go through both of these and why I entered. Firstly AUDUSD [caption id="attachment_7671" align="alignnone" width="580"] Long AUDUSD[/caption] I went long here as the market had found a base.. it had retraced after a move up and I thought it would actually move above the previous resistance point at around 10600 and if it did, a huge move above. The following day, the market indeed shot up and if I was cautious and doing my

January 27, 2013 No Comments Full Story

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