Posts Tagged gbpjpy
The question has been asked many times, is it possible to become a successful trader only trading part time. I'd like to think that it is as this is what I am doing.. I hold a 9-to-5 job (which I really enjoy) and am trading in the periods where I have time.. this includes any days off and in the evenings. However, there are people who say to me that in order to be in the consistent 5% that make money, you need to dedicate yourself to the craft of trading. I think trading takes a lot of time t
March 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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I went short on the GBPJPY forex pair today at 136.75 and too profit at 136.25 for a 50 pip profit. It was looking good for a short as it had once again bounced off a top pattern at around 136.90... I had intended on just keeping the trade running and gradually move the stoploss down as the price action was moving my way but when it started to look a bit funny in the charts and also as there was some resistance previously at 136.25 area, I thought it would be safer to take my profits!
February 9, 2009
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