Good Morning,
And for all the people that understand "Pinch-Punch 1st of the Month!
If some of you out there think that I just roll out of bed and put on a couple of trades then hobble back into bed then I am going to give you a little insight into how my days is.
05:00 get out of bed, put the kettle on to make a mug of tea (Most important at this time of day) I drink Tazo Green Tea. Boot up Laptop's and PC's. While the systems are booting up, I read my Beliefs and then my Trading Plan, almost as important as the 1st mug of tea. Then log in to ForexFactory to check the data and put the information into a skype chat that I am a member of. Log in to IG Index and FXCM. Load the charts up that for the Pairs that I watch GBP/USD (Cable), EUR/USD (Fiber) and Daily US Light Crude (Oil). Decide on the levels of where I suspect the morning breakout to come from and draw lines. Today my entry short on Cable will be 15170 and my long entry is 15245 just above the R1 Pivot (R1 = Resistance 1) checking pivots and indicators for my strategy (although I generally do not trade it before 08:00 GMT). Now open up MetaTrader, again checking possible entry points for a pivot strategy that I trade.
05:30 once the 1st mug of tea has been drunk, make a second mug. Now that the information from ForexFactory has been disected and categorised, the only ones we are truly interested in are High Impact Announcments and Medium Impact Announcements. I place this in the skype chat for other members to view at a quick glance.
Now that these tasks have been done I then start to read. The book I am currently reading is "Way of the Turtle" by Curtis M Faith. This can be picked up at Amazon UK or Amazon USA. I read at least one chapter, always keeping one eye on the charts. As some of you may be aware I am writing my own book, I then write a few pages.
I bet you are thinking bloody hell there is a lot to do here, well before you know it the day is over. I am not even at 07:00 GMT yet.
Just to keep you informed, I think the holiday's have kicked in for some people, it is 10:30 GMT and I have not placed one trade yet. Well it is now 17:50 GMT and I have not traded all day. I gave up hours ago so I hope you all made money this afternoon UK & Europe and this morning for all my friends stateside.
Have a very happy holiday tomorrow. I will not be around again until the end of next week, we are going away for a week to unwind with the family.
To Your Trading Success
The Investor Guru
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment