|
||||||||
|
||||||||
|
||||||||
|
|
 |
Simplify, Simplify
I have been unsure whether or not to post the trades I'm in or talk about them. Isn't that kind of boring? I.e. right now I'm long the EURO on that break of 1.3681, but so what?
I have entered an internally quiet zone regarding this subject - but it is not a bad place. In fact I think it is a good place. One thing I've noticed is that when you first get into this subject and you learn a few things, you are happy to yap on about the market and make predictions etc. If you look at when I first started this blog (only six months ago), I was quite happy to give my opinions and make predictions etc as if I was an expert. But now I'm in a place where I realize I actually know nothing. The subject opens up the more you learn about it - it becomes bigger and bigger. That first wave of over-confidence (false confidence I think would be the correct word) has been wiped out and has been replaced with a sound understanding that I actually don't know as much as I thought. But this is good ground. Its solid ground and it also has made me more conservative. So what now? Well practically speaking I am aware that I am having good success with trade entries and usually get into profit most times. But then I run into trouble regarding when to take profit, or move stops etc. Many is the time in recent weeks that I've been up 40 - 60 pips but then tried to "let my profits run" only to have them flip over and stop me out. Its a golden trading law "Let your profits run and cut your losers short" - yet I'm having trouble with it in practice, mainly because so many of my winners turn into losers by following this method. In fact I think thats the norm, and then every once in a while you get a big home run that covers all the previous loses. I'm not sure that style is for me. Or else I haven't quite worked it out yet. I currently only look at my charts for about an hour in the evening (whilst London session is on) and in the early morning (for me its the dead zone between New York and Asia). I look at weekly and daily charts, and sometimes look at the 4 hour, but never lower. So all in all I feel as though I'm making progress defining my trading style. |
|
|
| PREMIER SPONSORED LINKS |
Any information or material contained in the websites owned and operated by The Connors Group, Inc. (the "Company"), including but not limited to the THEFXMARKETS.COM, TRADINGMARKETS.COM, and THEMONEYBLOGS.COM websites (collectively, the "Websites"), and in the related services and products is provided for informational and educational purposes only. The information or material is NOT a recommendation or solicitation to buy or sell any security or other investment vehicle. Please review our full Disclaimer prior to using the Websites. Furthermore, your use of the Websites and all related services constitutes a legally binding agreement under the Company's terms and conditions. Please review the Terms and Conditions of Use. To better comprehend the Company's other practices and policies, please review the Privacy Policy and the Editorial Policy.
Copyright © 2008 The Connors Group, Inc.
<< My Home | The FX Markets Blog Home