Have been busy with LIFE so did not focus on trading for awhile …

will update once I am back with trading

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Yesterday’s EURUSD had a great fall and was a great time for me to profit take and pushing my win:loss ration to 234:2 (inclusive of some USDCAD wins).

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As EURUSD charged ahead showing it bullishness, but there is a clear short signal for me from the divergent of many indicators.

Thus I have shorted many positions along the way up.

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Taking a break from trading forex

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It is noted that they many started out trading “contributing” their hard money into the market and ended up paying an expensive learning experience. There are thousands and one trading systems, and all in a way can make some money. But what really is the key to success is YOU.

Know Yourself is KEY. And find that systems that will match you and fix you like second skin and you will be profitable. Thus knowing your trading psychology is critical to you successful trading endeavor. With your personality and the system that is your tool will enable you to collect the information from the market and charts helping in your analysis of these collection allowing you to leverage on to make good decision for a smooth implementation of that DECISION. The sooner you master this process with discipline the better your chances of success to trade for a living.

This is a simple observation after trading paper and real for the last 2 years winning and losing, losing more than winning.

If you are looking for setup all the time, this is not the way, find out more about yourself, how you relate to risk/reward, your patience level, discipline, etc. … Focus on your TRADING PSYCHOLOGY not on the system.

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Taking a break from paper trading emini russell 2000 and taking a hard look at some of the trading system (all great systems and profitable) and the match with personal trading psychology to find a good fit to enhance and improve trading performance.

As for trading forex, took a slower pace in looking at the trading signal generated by the price action and have made several profitable taking in EURUSD, GBPJPY and USDCAD. Current win:loss is 222:2 with a 41.3% gain.

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Another 2 winners in the pipeline for forex trade with trailing stop.

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One of the main tool or indicator used all the time for my entry and exit is using Fibonacci.

Here is a video you can learn how to use it for a profitable trade may it be forex, futures, stocks, options, etc. …

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The long position took at 237.38 for GBPJPY profited at 239.63 with a trailing stop, and long USDCAD for a fast one at 0.9208 and got out 0.9815 due to trailing to close. Well, I don’t mind missing out the max run for the profits as there were times when I work on maximizing profits, I ended up with lesser trades and lesser profits.

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EURUSD dived which seems like USD is gaining strength but that is only a dip to retrace back up again and this is an opportunity to open another short position and I did a sell limit 1.4119 which is about going to be touch.

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