Jgm forex
Since last week I wondered if I was unlucky or dumb because I was doing everything wrong, I think it is equally right to ask the opposite question this week. Although I have still not hit any huge gains, I seem to be in a jgm groove right now. Of the 5 trades placed so far this week, 4 of them have been winners, and the loser was because I bailed too early. I think the best thing I have going is patience, as well as placing stop losses. I am looking at the day, and hour charts to make a trade. I am using the day chart to get a good high and low and trend, and adding a fib chart. I am then looking at the hourly chart to determine the shorter term trend. Most importantly is if there is any question, I am either not making the trade, or placing a stop loss, so that if I am wrong, I will not suffer anymore great jgm. It has been almost a month since I began, and I am currently down pips, with over of those coming on 2 trades. I think from this point forward, I need to have positive pip production every week. I would now like to make between 50 and pips per week. Since I am at 71, I will try forex show some restraint the rest of the week. I will still place some trades, but unless they are sure fire hits, I will probably place close stop losses, which means less room to fluctuate, and probably some losses, but who know, jgm I will forex lucky. For the week, I placed 11 trades. I have shifted from the 15 minute chart to the one minute chart, and finally settled on the one hour chart. I will update my strategy page after this post to detail the strategy. The trend I was trading on happen to end, and it hit my stop loss, but more importantly, I placed the stop loss, and it was only a 29 pip loss, that could have forex much worse. The focus since my debacle last week has been making jgm out trades with stop losses. I am still trying to figure forex when to get out of trades, so I can actually make a profit on 5 winning trades and 4 losing ones. But some of those winners, were small due to the price retreating and me bailing to at lease not take forex loss. I even changed some of the stop losses to hit so I would make a small profit, rather then a total reversal and big loss. Still not the big winning week I need to get me to my goal, but I feel I am at least learning to crawl, and know there will be more mistakes down the road, just need to keep them at a minimum. Since last weeks debacle with the Canadian dollar, I have been pretty disciplined, until last night. I placed take profits, but did not place any stop losses. The recent news had been favorable to the us economy, and I expected more good news this morning. The gdp revision, was so bad it took the pair for a 40 pip ride north, or the opposite direction of my trade. I am now down about 77 pips on the trade. I will now leave it as it gains some back from the retracement. I am still forex the problem of placing a stop loss, having the market hit it, almost exactly, then turn around and do what I thought it would do. That is part of the reasoning I did not place one last night. The pair has been going to the 1. This will test to see if it does. It seems every time the pair takes a leap into a different area, I am on the wrong end of it, and just try to make it up. If there was a way to be on the right end, it would be nice to double dip on the pips, instead of losing it then slowly and agonizingly making some of it up. I will be testing other strategies out, and other pairs. This pair has become where it basically does nothing, then moves after news, then does nothing again. Very hard to have reliable signals in my opinion. Jgm towards the pip loss area. But, I am not giving up, just regrouping, and learning, learning, learning. I noticed a good upward trend on the 15 minute chart, that started early this morning. There are no news items for either pair until tomorrow night, so it should be a stable trade until then. This trade will show some ebb and flow as it goes toward yesterdays high around Okay, so this is a problem that needs to be dealt with immediately if I am going to succeed in my mission. I can not make trades without an exit strategy, or stop loss. I finally closed it out to put me out of my misery. I lost a whopping pips on the two trades I has going. One mistake is jgm it takes to wipe out everything. I must be more disciplined. I am still going to look for trades on my 4 pairs today, and try to get a few pips back before the weekend. Pretty depressed right now. Lost, but glad I did it with a stop loss. I think that is going to be my focus over the next forex weeks. Not try to win every trade, but try to make sure I put a stop and take profit on every trade I do make that meets my criteria. I think that is what I need help with the most right now. Not being right, but being disciplined. I will keep you posted on how it goes. Can you say rookie mistakes? I basically made all the mistakes I swore I would not make this time around when trading in forex. I did not put a stop loss, I refuse to believe I was wrong, etc. What did I jgm Well yesterday around 3;00 pm, I was standing at a 25 pip gain for the day. I should have turned off the computer and did something else, anything else. But I decided to look through my pairs again, and I did see two opportunities. Both were at resistance levels. Both broke through the levels, and have not stopped since. Needless to say, it did not. Finally when I was about to go to sleep last night, I looked forex the numbers. I was down somewhere around 50 to 60 pips, I think. I decided to let it ride overnight, and hoped the greenback would recoup some of its losses. Instead, they got worse. I woke up down an even pips. At this moment, I am down on these trades. I have been reading everything I can this morning to see where these pairs are going. Yes, the dollar is not looking good, but what made the euro look so good all of the sudden? In the end, the consensus I get is that the pair will still fluctuate between 1. If either of those are broke, then look out. If anyone has other opinions, please share. It is impossible to keep up with everything and everybody. I have been looking at everything, and still think it will rebound, it just may take a lot longer, and will keep me sidelined from my overall strategy of grabbing 10 pips here and there. Jgm course, this day helps me see the biggest flaw in my trading: Again, any jgm on this is greatly appreciated. I plan on adding some pages to this blog to outline my strategy, as well as keep track of my mistakes. One bit of advice to anyone new. However, the emotional reaction I get form this is unlike anything I got playing with a demo account. Basically, the emotions are real, and hopefully the lessons will stick also. High impact news coming in 20 minutes, so this may be a quick trade. Have to decide if I want to let it ride through the news. Too much of a gamble, and I am not informed enough to know what the market will do as result of the news. Update — Closed both trades before news. Now I can see what happens with this FOMC news conference. Will probably jump back in after jgm run. I hope to take advantage of the runs soon, but still learning about them, and the wrong move could be costly. When I decided to trade in forex, Forex knew I had to learn how to trade. So, I went to the library and checked out forex books. I studied up on candles, fibs, averages, etc. If you are getting into trading, you should know what these are. I then of course googled information. The amount of information out there is amazing, and can be very confusing. You just keep flying, and hope not to die. Forex there are the experts. This is okay, but what if two experts, tell you to do different trades? If it could, we would all be doing jgm, and getting rich. Truth be told, that is where the adventure is. You have to try to figure out what can give you the best opportunity to make money, knowing there is a good forex it will backfire on you. Wait, I just made another pip, 98, to go! The first two weeks have been me testing strategies, charts, trends, bands, averages, etc. I have made 21 trades, and have 2 open trades. You could say I am a scalper, but I have a plan, and here it is. Seems simple, but its not. I hope this will be an entertaining, fun, and of course profitable adventure. Only 98, to go! Home About Trade Journal Trading Strategy. Standard Posted by forexcanary. Posted on July 2, Jgm Leave a comment. Posted on June 27, Posted on June 25, Posted on June 20, Posted on Jgm 19, Posted on June 18, Image Posted by forexcanary. Okay, so this will take forever, not 6 months, and I can lose pips faster then I can make them. Learn when to make trades Step 2. Learn when to get out of trades. Learn how news effects market. Begin to increase lot sizes. Forex Archives July June Meta Register Log in. Create a free website or blog at WordPress.
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