Getting Perspective in Forex
By
Many people are saying TGIF today – but not me folks. Every day is a good day for me, I am very happy to say, and I sincerely hope that you feel as I do.
To put this under the microscope for a minute . . .
When in London two weeks ago, I was speaking to a very elderly relative. I asked him how things were? He replied, “Every time I open my eyes in the morning and realise the He has given me yet another day, I rejoice.”
I love speaking to elderly people, they give me such PERSPECTIVE on the world.
OK – to business. Several people are sending in very comprehensive two or three line reports on their trades as I requested a few weeks ago. I’m going to feature just one or two to start today’s blog.
Take a look please and I ask you once again to send in YOUR reports in a similar way.
Why?
1. It really will make you PROPERLY accountable
2. It WILL help others – good or bad trades.
3. MOST importantly – Kris and I can SEE what you are doing and how and why you are doing it.
Here’s what I mean with just one of yesterday’s reports . . . . . . .
Good morning Sid,
+8 pips. Watched NY opening from about 8:06 to 8:13 am EST. I had just sat down, having put in my overnights for two of the currencies when I saw the Euro take off north. The pound started to follow, the Swissie moving slightly south, so correlation. I jumped on board.
The Euro was moving so quickly, it slightly distracted me from the pound. Pound went up passed the spread, but then went down a bit. Then I noticed the spread had widened to four pips. Yikes. The pound went down below my entrance, maybe four pips to six pips, and hovered as did the Euro.
The Swissie turned north a fraction too, but mainly held. I probably should have got out, but I stayed. All was in a shaky hold. Then the Euro and the pound started north again, and when they stalled, I got out. Not sure if I entered a bit too late, or a bit too soon.
Was probably a chance to practice with the stops, but I didn’t have the presence of mind, nor was I composed enough to do that.
Cheers
Heidi, Texas, June ’11, L2
Still not a member? Why not take our Forex training course today?