Just to give you an update as to how the new strategy is working.
Today I traded 8 times with one trade that was a 20 pip loss. So that was a net gain of 60+ pips.
To your Trading Success
The Investor Guru
Showing posts with label ig index. Show all posts
Showing posts with label ig index. Show all posts
Tuesday, 19 January 2010
Monday, 18 January 2010
Forex Trading
Well it has now been over a week since I last put some trades up here for you to view.
It isn't because I have stopped trading, that couldn't be further from the truth. As I mentioned last week I am developing a new strategy and it is currently taking up a lot of my time with back and live testing. As I also mentioned last week I am very excited about it. Yesterday alone while watching there were at least 6 entry points that I could have chosen (GBP/USD Only). I actually missed one due to cleaning windows and car. DOH! 1 traded ended at break even and the other 4 were all winners yielding a total of 45 points. I will be putting up some sample trades this week. Obviously I will not be able to put too much information in.
Did I mention that I am also writing a book? Yes that's right I am writing a trading book. I will be putting excerpts from the book in my blog from time to time and I will be updating you on the content. If you have any suggestions for content that you would like to see in a Forex book then please feel free to pass them on and I will do my best to accommodate.
To your Trading Success
The Investor Guru
It isn't because I have stopped trading, that couldn't be further from the truth. As I mentioned last week I am developing a new strategy and it is currently taking up a lot of my time with back and live testing. As I also mentioned last week I am very excited about it. Yesterday alone while watching there were at least 6 entry points that I could have chosen (GBP/USD Only). I actually missed one due to cleaning windows and car. DOH! 1 traded ended at break even and the other 4 were all winners yielding a total of 45 points. I will be putting up some sample trades this week. Obviously I will not be able to put too much information in.
Did I mention that I am also writing a book? Yes that's right I am writing a trading book. I will be putting excerpts from the book in my blog from time to time and I will be updating you on the content. If you have any suggestions for content that you would like to see in a Forex book then please feel free to pass them on and I will do my best to accommodate.
To your Trading Success
The Investor Guru
Thursday, 14 January 2010
Forex Trading
Hi Everyone that really enjoy reading my blog.
I am sorry that I have not put any posts up for a couple of days. I am developing a new strategy and it seems it is taking more of my time than originally thought...I have to say that I am really excited about it.
To your Trading Success
The Investor Guru
I am sorry that I have not put any posts up for a couple of days. I am developing a new strategy and it seems it is taking more of my time than originally thought...I have to say that I am really excited about it.
To your Trading Success
The Investor Guru
Monday, 11 January 2010
Forex Trading 11/01/10
Back to it and fully recharged, well recharged. So I was up and eating breakfast early this morning as I was on the school run, had to be out of the house by 08:10.
I have to tell you that before my first trade this morning I was looking at my mate Kofi’s blog and he has changed the appearance. It looks really cool and I have to say that I am a little jealous. Which brings me round to mine…this will be changing over the next couple of weeks, you will get the link’s so don’t worry you will not miss out.
So today’s trades, 6 in total today with at least 2 where I was kicking myself after
I placed 2 trades at the same time over different accounts. The indicators I use were all for a long, MACD & Stochastic.
I set an entry order for 16113.0 and my reason for going in on 2 accounts was purely based on the good movements on the candles before. The entry was placed 5 points above R1 (16108.0).
I took 9.2 and 7.9 respectively. I didn’t trade the retracement and the very next time when it again went through the same price. Kofi did, good lad. By the time I had got back from dropping my little darlings then the post office to send out some of my Mindset for Trading CD’s. Cable was ready to trade again.
I made a mistake with this trade I clicked my limit button and forgot to change the price. As the traders out there with FXCM accounts will know that when you do this it automatically places your last limit in, and in my case this was 12 points.
That was the morning over and done with.
My next trades were all short 3 in total…and this is where I made some very bad mistakes, I didn’t follow my own rules. The first was for 11 points, it was a long time coming and it is one of those trades and I am sure you are all laughing with me on this one…you get out with 11 points…30 seconds later it suddenly moves and you would have been 20 up.
Laugh on the previous trade I may, I certainly didn’t on the next two. If I thought it would do any better than saying disgusted I would swear here. Golden rules broken on both trades.
Each trade should have at least netted 10 points. So the rule that is broken was – what I ask myself on entering the trades
Question: What do I want from the trade?
Answer: 20 points
Question: What would I be happy?
Answer: 7.5-15 points
So now you can see why I am disgusted. These were my last trades of the day, time to go and reflect on the days trading and of course to post this blog so all my friends can keep up with me.
Oh well onwards and upwards. Till tomorrow.
To your Trading Success
The Investor Guru
PS Tell me what you think.
I have to tell you that before my first trade this morning I was looking at my mate Kofi’s blog and he has changed the appearance. It looks really cool and I have to say that I am a little jealous. Which brings me round to mine…this will be changing over the next couple of weeks, you will get the link’s so don’t worry you will not miss out.
So today’s trades, 6 in total today with at least 2 where I was kicking myself after
I placed 2 trades at the same time over different accounts. The indicators I use were all for a long, MACD & Stochastic.
I set an entry order for 16113.0 and my reason for going in on 2 accounts was purely based on the good movements on the candles before. The entry was placed 5 points above R1 (16108.0).
I took 9.2 and 7.9 respectively. I didn’t trade the retracement and the very next time when it again went through the same price. Kofi did, good lad. By the time I had got back from dropping my little darlings then the post office to send out some of my Mindset for Trading CD’s. Cable was ready to trade again.
I made a mistake with this trade I clicked my limit button and forgot to change the price. As the traders out there with FXCM accounts will know that when you do this it automatically places your last limit in, and in my case this was 12 points.
That was the morning over and done with.
My next trades were all short 3 in total…and this is where I made some very bad mistakes, I didn’t follow my own rules. The first was for 11 points, it was a long time coming and it is one of those trades and I am sure you are all laughing with me on this one…you get out with 11 points…30 seconds later it suddenly moves and you would have been 20 up.
Laugh on the previous trade I may, I certainly didn’t on the next two. If I thought it would do any better than saying disgusted I would swear here. Golden rules broken on both trades.
Each trade should have at least netted 10 points. So the rule that is broken was – what I ask myself on entering the trades
Question: What do I want from the trade?
Answer: 20 points
Question: What would I be happy?
Answer: 7.5-15 points
So now you can see why I am disgusted. These were my last trades of the day, time to go and reflect on the days trading and of course to post this blog so all my friends can keep up with me.
Oh well onwards and upwards. Till tomorrow.
To your Trading Success
The Investor Guru
PS Tell me what you think.
Friday, 8 January 2010
Forex Trading 08/01/10
Well another Non-Farm day arrives!
Let’s get straight down to it as I will place the charts of the early trades completed and not the non-farm. It was fast and furious. A friend of mine took 40 points trading the 5 minute candle of the announcement. I took 38 with 3 trades. In total I traded 6 times today for 108 points.
I am actually done in. My head is quite mashed at the moment and I cannot really think straight let alone put any charts together. I think it must be the first week back after Christmas and a Non-Farm day. I am going to get my guitar out and have a strum…
Till next week when I should be recharged.
To your Trading Success
The Investor Guru
Let’s get straight down to it as I will place the charts of the early trades completed and not the non-farm. It was fast and furious. A friend of mine took 40 points trading the 5 minute candle of the announcement. I took 38 with 3 trades. In total I traded 6 times today for 108 points.
I am actually done in. My head is quite mashed at the moment and I cannot really think straight let alone put any charts together. I think it must be the first week back after Christmas and a Non-Farm day. I am going to get my guitar out and have a strum…
Till next week when I should be recharged.
To your Trading Success
The Investor Guru
Thursday, 7 January 2010
Forex Trading 07/01/10
By the time I had finished my self-hypnosis session the markets had started to move. I felt that it was a little too early at 05:30 to be considering. The entry point I had considered was 15987. With hindsight I should have ignored my inner talk and lowered my ppp (Pound Per Point) and traded. I even ignored the signals again at 06:40, by this time it had reversed back up past my entry point then proceeded to short from 06:45. The first trade would probably have netted me 10+ points, it actually moved approx 20+ points short and the second would have been 20+, and this one actually went to around 40 points.
I finally traded GBP/USD at 08:27 and exited around 08;45 with a smidgen over 15 points.
That was my only trade of the morning, what on earth was I looking at. There should have been at least 1 other trade. Perhaps I was too deep in trance!
Well this afternoon was a little different. Get this…I traded EUR/USD, I will give you time to pick yourself up off the floor…yes it is true EUR/USD, my mate Neville who is jaunting around the world at the moment with his lovely wife, trades it all the time. So I thought well if it is good enough for Neville then it is good enough for me. Let me tell you it is that long since I traded this pair I cannot remember. Well out of my comfort zone. Because I have not properly studied and traded this pair I have to say and I am not kidding when I say it, I was nervous. Not knowing how pairs react to certain times of the day and different market opening times. So without further ado here is the chart…
My aim for this trade was really to see how I reacted to it. I have to say when it retraced past my entry, I had thoughts of oh well never mind, this is why you don’t trade this pair. I have an old Orange SPV, can anyone remember them? Well I am giving it to charity and wanted to wipe it and the only charger I have is a car one so went outside and sat in the car for 20 minutes, came back in to see that if I had put a limit of 10 in place then I would have had my points. I did wonder about getting out with 1 point however even in this screenshot you can see the trend so I decided to wait it out. I made up my mind that from this trade I wanted 15 points and would be happy with 10+. I hit the get out button on approx 15 and ended with 11.2. Happy as Larry.
I traded cable a further 2 times for 10 points each time, so I ended the day with a grand total of 46 points. Not bad really.
Oh isn’t trading easy!!!
Just as a point to note, it is Non-Farm Employment Change tomorrow at 13:30 UK time and this usually makes Cable volatile.
To your trading success
The Investor Guru
PS Please could you make comments and suggestions of what you would like to see and read about, also about the current layout and how I can improve it.
I finally traded GBP/USD at 08:27 and exited around 08;45 with a smidgen over 15 points.
That was my only trade of the morning, what on earth was I looking at. There should have been at least 1 other trade. Perhaps I was too deep in trance!
Well this afternoon was a little different. Get this…I traded EUR/USD, I will give you time to pick yourself up off the floor…yes it is true EUR/USD, my mate Neville who is jaunting around the world at the moment with his lovely wife, trades it all the time. So I thought well if it is good enough for Neville then it is good enough for me. Let me tell you it is that long since I traded this pair I cannot remember. Well out of my comfort zone. Because I have not properly studied and traded this pair I have to say and I am not kidding when I say it, I was nervous. Not knowing how pairs react to certain times of the day and different market opening times. So without further ado here is the chart…
My aim for this trade was really to see how I reacted to it. I have to say when it retraced past my entry, I had thoughts of oh well never mind, this is why you don’t trade this pair. I have an old Orange SPV, can anyone remember them? Well I am giving it to charity and wanted to wipe it and the only charger I have is a car one so went outside and sat in the car for 20 minutes, came back in to see that if I had put a limit of 10 in place then I would have had my points. I did wonder about getting out with 1 point however even in this screenshot you can see the trend so I decided to wait it out. I made up my mind that from this trade I wanted 15 points and would be happy with 10+. I hit the get out button on approx 15 and ended with 11.2. Happy as Larry.
I traded cable a further 2 times for 10 points each time, so I ended the day with a grand total of 46 points. Not bad really.
Oh isn’t trading easy!!!
Just as a point to note, it is Non-Farm Employment Change tomorrow at 13:30 UK time and this usually makes Cable volatile.
To your trading success
The Investor Guru
PS Please could you make comments and suggestions of what you would like to see and read about, also about the current layout and how I can improve it.
Forex Trading 06/01/10
Well time was moving on this morning and I needed to leave at 08:15 to take the kids to school then on to do some training myself.
So it was almost 08:00 and not only did I need to get ready and get out of the house the FTSE was about to open and that can send the market in any direction.
Because of my need to get out of the house, I made some very fundamental mistakes…I did not adhere strictly to the strategy…I entered one trade and when it went against me by 10 points I jumped out of the trade, only to get back in later and pinch 5 points back. Then got in again…
So 15 points on the trade above so a grand total of 10 up for the day.
After being on my course for just over an hour it was cancelled due to the weather (snow). So was at home for the afternoons trades. Well I actually thought I had winning trades in the afternoon, however on checking my accounts the mornings trades were the only ones...strange, very strange.
To your trading success
The Investor Guru
So it was almost 08:00 and not only did I need to get ready and get out of the house the FTSE was about to open and that can send the market in any direction.
Because of my need to get out of the house, I made some very fundamental mistakes…I did not adhere strictly to the strategy…I entered one trade and when it went against me by 10 points I jumped out of the trade, only to get back in later and pinch 5 points back. Then got in again…
So 15 points on the trade above so a grand total of 10 up for the day.
After being on my course for just over an hour it was cancelled due to the weather (snow). So was at home for the afternoons trades. Well I actually thought I had winning trades in the afternoon, however on checking my accounts the mornings trades were the only ones...strange, very strange.
To your trading success
The Investor Guru
Tuesday, 5 January 2010
Forex Trading 05/01/10
I was up and at the charts this morning…well it was more like, I was frozen and needed to get some early momentum into my body. After reading out aloud my beliefs and my weekly trading plan, I sat by the radiator and did my self-hypnosis.
It wasn’t long before I was in a trade. I was quite shocked to see that Cable (GBP/USD) started moving early (05:45 UK time). I opened my ticket and was in the trade, within a minute or two I found myself around 13 points up. I sat there waiting for more. What the heck was I thinking about, it was 05:45 in the morning and I didn’t take the 13 on offer. I did end that trade with a smidgen over 6, my learning for that trade is “Remember to remind yourself what it is you want from the trade”.
As mentioned in the chart at this time of day 10+ points should have been a no brainer, especially with the pivot at 16138. Limit as usual for me was set at 30 and stop of the same. With Cable I have noticed over the years that the levels the fifty’s hundred’s can be quite significant. My stop on this trade of 30 being below the 16100, I was pretty sure that I would not get stopped out.
Another reason I should have been out of the trade a little earlier, when I was viewing my stochastic indicator, I was being told that this trade was over bought.
Onwards and upwards as they say to my other trades of the early morning.
I entered again around 16125 and exited at 16151.
Not much more you can say about that trade really.
What happened next is just really bad. My wife Alison was taking my children to school and needed the car scraping so being the gent I offered. I only wish I lived in warmer climes like our friends in Spain. However, when I arrived back inside and saw that Cable had crashed well I can only sit here and cry nearly 100 points in the half hour I was away scraping the cars.
I was sat talking with Alison, when I looked over my shoulder and noticed that all the signals were looking good for a trade.
I took 10 points on this trade; realistically I should have stayed in for longer and taken 20. However I do say before entering my trades what it is I want from the trade and what I would be happy with. 10 points was what I wanted. I also keep reminding myself “I have a Positive Trading Attitude, I am in total control. My motivation and dedication mean I am fully prepared and confident. My mental toughness and discipline are making me a Master Trader.”
Practicing what you preach was something that I was brought up on. So with that in mind, I will catch you in a couple of hours as I am off to read a trading book “Trading for a Living” by Dr Alexander Elder.
To your trading success
The Investor Guru
It wasn’t long before I was in a trade. I was quite shocked to see that Cable (GBP/USD) started moving early (05:45 UK time). I opened my ticket and was in the trade, within a minute or two I found myself around 13 points up. I sat there waiting for more. What the heck was I thinking about, it was 05:45 in the morning and I didn’t take the 13 on offer. I did end that trade with a smidgen over 6, my learning for that trade is “Remember to remind yourself what it is you want from the trade”.
As mentioned in the chart at this time of day 10+ points should have been a no brainer, especially with the pivot at 16138. Limit as usual for me was set at 30 and stop of the same. With Cable I have noticed over the years that the levels the fifty’s hundred’s can be quite significant. My stop on this trade of 30 being below the 16100, I was pretty sure that I would not get stopped out.
Another reason I should have been out of the trade a little earlier, when I was viewing my stochastic indicator, I was being told that this trade was over bought.
Onwards and upwards as they say to my other trades of the early morning.
I entered again around 16125 and exited at 16151.
Not much more you can say about that trade really.
What happened next is just really bad. My wife Alison was taking my children to school and needed the car scraping so being the gent I offered. I only wish I lived in warmer climes like our friends in Spain. However, when I arrived back inside and saw that Cable had crashed well I can only sit here and cry nearly 100 points in the half hour I was away scraping the cars.
I was sat talking with Alison, when I looked over my shoulder and noticed that all the signals were looking good for a trade.
I took 10 points on this trade; realistically I should have stayed in for longer and taken 20. However I do say before entering my trades what it is I want from the trade and what I would be happy with. 10 points was what I wanted. I also keep reminding myself “I have a Positive Trading Attitude, I am in total control. My motivation and dedication mean I am fully prepared and confident. My mental toughness and discipline are making me a Master Trader.”
Practicing what you preach was something that I was brought up on. So with that in mind, I will catch you in a couple of hours as I am off to read a trading book “Trading for a Living” by Dr Alexander Elder.
To your trading success
The Investor Guru
Monday, 4 January 2010
Forex Trading 04/01/10
Happy New Year to everyone.
I hope you all had as wonderful time as my family and I did. We went up to Stockport (Near Manchester) for New Year and spent it with some pretty wonderful people. Thanks to the ones that were there.
Very interesting first day back, I was sort of running blind. One of my strategies I use Metatrader 4 and Pivot Points. However this morning the pivots were way out (due to holiday’s last week). Meant I had to look at one of the other strategies, although I do like looking at the pivots at different time (5, 30 & 60 minutes) scales so that I can read the charts better.
Since I have been using Stochastic and MACD Indicators together my chart reading has become more attuned to the way the market it moving. This morning however was a little different and I will put it down to being rusty having had too long off for the holiday period. By the time I had got my pivots and Stochastic Histogram back it was too late and I had got in at the point of being oversold (Stochastic).
Sorry for the change in charts, it really is down to which I am looking at and my reasons for getting in. The one above is to show why I got in and really why I shouldn’t.
So on to this afternoon, I was waiting for a US announcement at 15:00 London, 10:00 New York &12:00 Tokyo time. It was good news for our American friends so I expected them to push GBP/USD down. So I was surprised to see the price rise over the first 10 mins, then it reversed at around 16191 and tanked it down and then on the next candle it carried on. My entry was 16158 with a limit of 20. This trade was with a higher PPP (Pound Per Point) than the mornings trade so did not require the same amount of points.
If only I had hung on. I am not here to beat myself up although!
Well I am tired out after my first day back. I hope you all had as interesting day as me, and we will meet again for tomorrow’s instalment. Have a good Night/Day.
To your trading success
The Investor Guru
I hope you all had as wonderful time as my family and I did. We went up to Stockport (Near Manchester) for New Year and spent it with some pretty wonderful people. Thanks to the ones that were there.
Very interesting first day back, I was sort of running blind. One of my strategies I use Metatrader 4 and Pivot Points. However this morning the pivots were way out (due to holiday’s last week). Meant I had to look at one of the other strategies, although I do like looking at the pivots at different time (5, 30 & 60 minutes) scales so that I can read the charts better.
Since I have been using Stochastic and MACD Indicators together my chart reading has become more attuned to the way the market it moving. This morning however was a little different and I will put it down to being rusty having had too long off for the holiday period. By the time I had got my pivots and Stochastic Histogram back it was too late and I had got in at the point of being oversold (Stochastic).
Sorry for the change in charts, it really is down to which I am looking at and my reasons for getting in. The one above is to show why I got in and really why I shouldn’t.
So on to this afternoon, I was waiting for a US announcement at 15:00 London, 10:00 New York &12:00 Tokyo time. It was good news for our American friends so I expected them to push GBP/USD down. So I was surprised to see the price rise over the first 10 mins, then it reversed at around 16191 and tanked it down and then on the next candle it carried on. My entry was 16158 with a limit of 20. This trade was with a higher PPP (Pound Per Point) than the mornings trade so did not require the same amount of points.
If only I had hung on. I am not here to beat myself up although!
Well I am tired out after my first day back. I hope you all had as interesting day as me, and we will meet again for tomorrow’s instalment. Have a good Night/Day.
To your trading success
The Investor Guru
Wednesday, 23 December 2009
Forex Trading (Christmas)
Merry Christmas Everybody.
Well I know technically it is still Christmas Eve, I will not be around tomorrow to write on my blog.
I will start with a little recap of what has been happening over the last couple of days. Well on my last blog I asked the question "Can GBP/USD break below 16000". Well all those people that were hoping it would...it did. It start its move a little shakily then broke through for a good 60+ points. I was good for 10. Time of year and not wanting to be in a trade too long is why I got out early. I will start again in the New Year with charts.
As I write this blog at 06:55 GBP/USD has now broken back above 16000, can it stay there and will I be tempted into a trade? Yes and No respectively.
Well I will say Merry Christmas again to all that know me, especially Alison my wife and love of my life. Secondly Kofi my trading buddy, he kept me going throughout the year.
To Your Trading Success
The Investor Guru
Well I know technically it is still Christmas Eve, I will not be around tomorrow to write on my blog.
I will start with a little recap of what has been happening over the last couple of days. Well on my last blog I asked the question "Can GBP/USD break below 16000". Well all those people that were hoping it would...it did. It start its move a little shakily then broke through for a good 60+ points. I was good for 10. Time of year and not wanting to be in a trade too long is why I got out early. I will start again in the New Year with charts.
As I write this blog at 06:55 GBP/USD has now broken back above 16000, can it stay there and will I be tempted into a trade? Yes and No respectively.
Well I will say Merry Christmas again to all that know me, especially Alison my wife and love of my life. Secondly Kofi my trading buddy, he kept me going throughout the year.
To Your Trading Success
The Investor Guru
Tuesday, 22 December 2009
Forex Trading (Christmas)
Well hello everyone...I hope you are all having a truly magnificent christmas. My holidays started last week so am now relaxing.
I just thought I would spend some time here explaining what is currently happening with the markets. Well to cut a long and somewhat boring story short...Very Quiet. In fact I think the tapping of my keys as I write this may just about wake someone up.
I take at least 2 weeks off over the christmas period. Having said that I very nearly traded GBP/USD @ 16045 and EUR/USD 14303. Short and Long respectively each would have netted me 20 pips each. Can GBP/USD finish below 16000 today, I do think it can and may not get there until our American cousins come on board. Good luck and be careful to all out there that are trading over this period.
If any of you readers had watched yesterday there was very little volatility in the market so for me and I did not trade.
It is time for me to finish this blog and take my children to the park. You all have a safe and happy christmas.
To you Trading Success,
Investor Guru
I just thought I would spend some time here explaining what is currently happening with the markets. Well to cut a long and somewhat boring story short...Very Quiet. In fact I think the tapping of my keys as I write this may just about wake someone up.
I take at least 2 weeks off over the christmas period. Having said that I very nearly traded GBP/USD @ 16045 and EUR/USD 14303. Short and Long respectively each would have netted me 20 pips each. Can GBP/USD finish below 16000 today, I do think it can and may not get there until our American cousins come on board. Good luck and be careful to all out there that are trading over this period.
If any of you readers had watched yesterday there was very little volatility in the market so for me and I did not trade.
It is time for me to finish this blog and take my children to the park. You all have a safe and happy christmas.
To you Trading Success,
Investor Guru
Tuesday, 15 December 2009
Forex Trading 15/12/09
I am sorry I did not update my blog yesterday. This was due to a deep depression, and I am not talking of the weather…although that was crap too.
I am of course talking of the forex markets. My trading yesterday left a lot to be desired and I am not going to bore you with the charts and how’s and what for’s, all I need say is that I was 40 pips to the bad and that is that.
Now on to today, everything started brightly then I went long at a point that I really shouldn’t, I was trading the pivot strategy that I normally trade. Soon enough I was 50 pips down so the 10 previously taken were wiped out.
Over the weekend I produced a new trading mindset CD. “Trading in the Zone”. Well I listened to it for the first time last night and I can say that after the early loss it did not take me long to get into the zone. It would take me hours and I am sure you would soon get bored looking at the endless charts if I was to post them here. 11 trade’s in all today, 1 loss and 10 WINNERS. This totally eradicated my early mistake.
My wife Alison started calling me to let me know that it was time to eat. 17:00 and I had not realised the time I had been totally in the Zone with my trading.
Till tomorrow.
To your Trading Success.
The Investor Guru
I am of course talking of the forex markets. My trading yesterday left a lot to be desired and I am not going to bore you with the charts and how’s and what for’s, all I need say is that I was 40 pips to the bad and that is that.
Now on to today, everything started brightly then I went long at a point that I really shouldn’t, I was trading the pivot strategy that I normally trade. Soon enough I was 50 pips down so the 10 previously taken were wiped out.
Over the weekend I produced a new trading mindset CD. “Trading in the Zone”. Well I listened to it for the first time last night and I can say that after the early loss it did not take me long to get into the zone. It would take me hours and I am sure you would soon get bored looking at the endless charts if I was to post them here. 11 trade’s in all today, 1 loss and 10 WINNERS. This totally eradicated my early mistake.
My wife Alison started calling me to let me know that it was time to eat. 17:00 and I had not realised the time I had been totally in the Zone with my trading.
Till tomorrow.
To your Trading Success.
The Investor Guru
Friday, 11 December 2009
Forex Trading 11/12/09
Good day to you all, seems like a recurring theme here…I am a little late in the day posting this blog today.
Well I do have good reasons. This morning I was at my eldest daughter’s nativity and the school that both my daughters attend were having a Christmas fare.
As anyone who watched GBP/USD today, it was really quite quiet. I traded this morning and what a trade. I should have had 15+, just like Kofi. However, it was meant to be a short trade. I bloody well hit the wrong button and went in long, boy the air was blue around my trading station. All I can say is when I was looking at the Stochastic and MACD together it was giving me hope. It eventually went up and I very quickly got out, 3.9 pips.
So on to this afternoon. So we were chatting to another friend of ours Adrian H. We were discussing entry points and decided that the break of the pivot at 16280, so the price 16270 was chosen. My actual entry price as noted above was 16267, was a little worried as the price decided to go north and was getting closer to my 40 pip stop. It didn’t get there and started the downward movement. It actually moved a lot faster than I expected and I got out with 13.2 pips. I had discussed that 10 would be my limit so was an extra 3 over so happy. Not as happy as Kofi who exited with 30 pips, well done mate. Adrian H was just watching and didn’t get in.
I went to the school fete, as soon as the trade was over.
However I thought I would share this with you, while we were chatting Kofi shared this link with the other traders, so I am now sharing with you the laptop of my dreams.
Have a great weekend.
To your Trading Success.
The Investor Guru
Well I do have good reasons. This morning I was at my eldest daughter’s nativity and the school that both my daughters attend were having a Christmas fare.
As anyone who watched GBP/USD today, it was really quite quiet. I traded this morning and what a trade. I should have had 15+, just like Kofi. However, it was meant to be a short trade. I bloody well hit the wrong button and went in long, boy the air was blue around my trading station. All I can say is when I was looking at the Stochastic and MACD together it was giving me hope. It eventually went up and I very quickly got out, 3.9 pips.
So on to this afternoon. So we were chatting to another friend of ours Adrian H. We were discussing entry points and decided that the break of the pivot at 16280, so the price 16270 was chosen. My actual entry price as noted above was 16267, was a little worried as the price decided to go north and was getting closer to my 40 pip stop. It didn’t get there and started the downward movement. It actually moved a lot faster than I expected and I got out with 13.2 pips. I had discussed that 10 would be my limit so was an extra 3 over so happy. Not as happy as Kofi who exited with 30 pips, well done mate. Adrian H was just watching and didn’t get in.
I went to the school fete, as soon as the trade was over.
However I thought I would share this with you, while we were chatting Kofi shared this link with the other traders, so I am now sharing with you the laptop of my dreams.
Have a great weekend.
To your Trading Success.
The Investor Guru
Thursday, 10 December 2009
Forex Trading 10/12/09
What a crap day so far. 40 pips down GBP/USD has been a nightmare. It could have been worse had I not been up on one trade, poor old Kofi is down pips too.
After my losses this morning I have been looking at another indicator (Stochastic) as many of you will know this is more of a true indicator as it is leading where most of the other indicators that are used (MACD for instance) are lagging indicators.
Had I used the stochastic indicator earlier today, I may not have incurred the losses that I did. As many of you know this indicator shows oversold and overbought levels. Again had I used this indicator on my earlier trades the one trade that I did win, I would have got out with the maximum available pips (22).
Do you really want to see the charts...? Oh go on then rub it in.
After this I did not trade for the rest of the day. I was watching some very nice trending and I predicted 2 further trades. One long for 15 pips and the other for 30.
As I was not around for either of these trades I did not enter
Predicted trade 1 was long at 16290 – 16305, this trade started at 09:35 and would have been finished at 10:05.
Predicted trade 2 was short at 16270 – 16240, this trade started at 15:00 and would have been finished at 15:10.
I have shut down my trading station for the evening and am off to learn Fibonacci Retracements.
To your Trading Success.
The Investor Guru
After my losses this morning I have been looking at another indicator (Stochastic) as many of you will know this is more of a true indicator as it is leading where most of the other indicators that are used (MACD for instance) are lagging indicators.
Had I used the stochastic indicator earlier today, I may not have incurred the losses that I did. As many of you know this indicator shows oversold and overbought levels. Again had I used this indicator on my earlier trades the one trade that I did win, I would have got out with the maximum available pips (22).
Do you really want to see the charts...? Oh go on then rub it in.
After this I did not trade for the rest of the day. I was watching some very nice trending and I predicted 2 further trades. One long for 15 pips and the other for 30.
As I was not around for either of these trades I did not enter
Predicted trade 1 was long at 16290 – 16305, this trade started at 09:35 and would have been finished at 10:05.
Predicted trade 2 was short at 16270 – 16240, this trade started at 15:00 and would have been finished at 15:10.
I have shut down my trading station for the evening and am off to learn Fibonacci Retracements.
To your Trading Success.
The Investor Guru
Wednesday, 9 December 2009
Forex Trading 09/12/2001
Gosh…I went out last night with some friends who I worked with at Barclays Bank. It was an awesome night. So one of them mentioned that he was working on early’s today and was getting up at 06:00, he doesn’t know what early is does he! Thanks for the night out.
So on to the trading day…well Gordon (The Joker) Brown and Alistair (No Backbone) Darling are going to be spinning some yarn at 12:30 so GBP pairs will drop. They usually do when they make jokes!
So I was up at my usual time of 05:00, having spent sometime checking the charts I went through my normal routine of reading aloud my trading plan & mission statement…do you know what I will leave it in the blog for you to read and maybe if you want to copy it.
This morning’s trades were a little strange for me. It was all me as there were plenty of points on offer, I was just slow. As you can see from the chart my entry and exit weren’t the best. Oh well 11 pips was OK for starters. Kofi was up somewhere close to 30+ pips and quite rightly rubbing my nose in it.
Then the market changed. So I got in going long, oh did I mention that I put a limit of 10 pips in place and I got it…woohoo…well it would have been had the limit been 20. I do love hindsight, it is a wonderful thing.
Then there were trades 4, 5 and 6. I will not bore you with the charts on these. Trade 4, I will be brief on this, 20 pips down. Oh and not forgetting trades 5 and 6, well you won’t believe how many pips I am up 5.7. Enough said.
With all this I am closing my trading station for the day and will return tomorrow. So till then.
To your Trading Success.
The Investor Guru
So on to the trading day…well Gordon (The Joker) Brown and Alistair (No Backbone) Darling are going to be spinning some yarn at 12:30 so GBP pairs will drop. They usually do when they make jokes!
So I was up at my usual time of 05:00, having spent sometime checking the charts I went through my normal routine of reading aloud my trading plan & mission statement…do you know what I will leave it in the blog for you to read and maybe if you want to copy it.
This morning’s trades were a little strange for me. It was all me as there were plenty of points on offer, I was just slow. As you can see from the chart my entry and exit weren’t the best. Oh well 11 pips was OK for starters. Kofi was up somewhere close to 30+ pips and quite rightly rubbing my nose in it.
Then the market changed. So I got in going long, oh did I mention that I put a limit of 10 pips in place and I got it…woohoo…well it would have been had the limit been 20. I do love hindsight, it is a wonderful thing.
Then there were trades 4, 5 and 6. I will not bore you with the charts on these. Trade 4, I will be brief on this, 20 pips down. Oh and not forgetting trades 5 and 6, well you won’t believe how many pips I am up 5.7. Enough said.
With all this I am closing my trading station for the day and will return tomorrow. So till then.
To your Trading Success.
The Investor Guru
Tuesday, 8 December 2009
Forex Trading 08/12/09
I read this last night and thought I would share it with you.
“The subject of money is really two subjects: (1) money, plenty of money, and (2) absence of money, not nearly enough money. Often people assume that because they are speaking the words "I want more money," they are speaking positively about money. When you are feeling fear or discomfort as you speak, you are not speaking of the subject of money; you are speaking of the subject of not enough money. And the difference is very important, because the first statement brings money and the second holds it away”
Well things started moving early today, Kofi is not on yet and I have already taken 10 on a breakout strategy and 35 on a pivot strategy.
Amazing movements so early on today.
I cannot believe on the breakout strategy I set a limit of 10. How annoyed am I!
So 45 pips up and it is only just gone 06:30. Now you see why I am annoyed as my day would have been finished had my limit been a further 20 pips away on the breakout strategy.
Now waiting for the GBP announcements at 09:00 & 09:30. Well they didn’t tell me anything. So I think that is me finished till later in the day when the USA are available to give some movement.
To your Trading Success.
The Investor Guru
“The subject of money is really two subjects: (1) money, plenty of money, and (2) absence of money, not nearly enough money. Often people assume that because they are speaking the words "I want more money," they are speaking positively about money. When you are feeling fear or discomfort as you speak, you are not speaking of the subject of money; you are speaking of the subject of not enough money. And the difference is very important, because the first statement brings money and the second holds it away”
Well things started moving early today, Kofi is not on yet and I have already taken 10 on a breakout strategy and 35 on a pivot strategy.
Amazing movements so early on today.
I cannot believe on the breakout strategy I set a limit of 10. How annoyed am I!
So 45 pips up and it is only just gone 06:30. Now you see why I am annoyed as my day would have been finished had my limit been a further 20 pips away on the breakout strategy.
Now waiting for the GBP announcements at 09:00 & 09:30. Well they didn’t tell me anything. So I think that is me finished till later in the day when the USA are available to give some movement.
To your Trading Success.
The Investor Guru
Monday, 7 December 2009
Forex Trading 07/12/09
Oh, I am really late posting this today.
If I had a pound for every time my buddy Kofi has an issue with IG Index and slippage. Well this morning apparently it was worse than ever, I was in the trade at least 5 seconds before him. I have also told him to get an FXCM Account too.
Well bitching aside, lets get on with the positivity that emanated from GBP/USD this morning. It was so good I don’t suppose Kofi is sat there now complaining too much, he did end the day some 50+ pips up. Not bad and well done mate.
Another friend of ours Toj, asked the question this morning about getting into the GBP/USD Breakout trade before 07:00 UK time. The resounding answer was no. He got in early, at 06:40 ish, only to be stopped out soon after. Which brings me to mentioning Preparation and how important it is to be fully prepared and disciplined? Disciplined not to get in before 07:00.
So now lets have a look at the charts and see where I took my 60+ pips.
So 20 pips up and felt like Kofi I should have had more, for different reasons!
When the pair started to drop again, not long after this first trade, I was confident enough to get in at 16433.2, could have done with being in at 440 however I am not complaining. My exit was 16410.4 for at total of 22.8, (No Limit this time).
Well I was buzzing at this point 42+ pips up before 08:30 and the rest of the day to relax and watch what was happening.
As it says on the chart it wasn’t long before I was in another trade. 10.3 pips this time.
I heard that Gordon Brown had opened his mouth and spouted some rubbish this morning, this was what mad the tumble. Well for me he can open his jowls every morning if I am going to be taking this many pips in a morning, without I might add putting in too much effort.
I did very little for the rest of the morning (listed some Trading Mindset CD’s on eBay).
There was an opportunity to take a further 10 pips this afternoon, which I took without loosing breath. I did see another however I did think that I might be overtrading, and I wanted to protect my 60+ for the day.
All have a good evening/day and I will speak with you again tomorrow.
To your Trading Success.
The Investor Guru
If I had a pound for every time my buddy Kofi has an issue with IG Index and slippage. Well this morning apparently it was worse than ever, I was in the trade at least 5 seconds before him. I have also told him to get an FXCM Account too.
Well bitching aside, lets get on with the positivity that emanated from GBP/USD this morning. It was so good I don’t suppose Kofi is sat there now complaining too much, he did end the day some 50+ pips up. Not bad and well done mate.
Another friend of ours Toj, asked the question this morning about getting into the GBP/USD Breakout trade before 07:00 UK time. The resounding answer was no. He got in early, at 06:40 ish, only to be stopped out soon after. Which brings me to mentioning Preparation and how important it is to be fully prepared and disciplined? Disciplined not to get in before 07:00.
So now lets have a look at the charts and see where I took my 60+ pips.
So 20 pips up and felt like Kofi I should have had more, for different reasons!
When the pair started to drop again, not long after this first trade, I was confident enough to get in at 16433.2, could have done with being in at 440 however I am not complaining. My exit was 16410.4 for at total of 22.8, (No Limit this time).
Well I was buzzing at this point 42+ pips up before 08:30 and the rest of the day to relax and watch what was happening.
As it says on the chart it wasn’t long before I was in another trade. 10.3 pips this time.
I heard that Gordon Brown had opened his mouth and spouted some rubbish this morning, this was what mad the tumble. Well for me he can open his jowls every morning if I am going to be taking this many pips in a morning, without I might add putting in too much effort.
I did very little for the rest of the morning (listed some Trading Mindset CD’s on eBay).
There was an opportunity to take a further 10 pips this afternoon, which I took without loosing breath. I did see another however I did think that I might be overtrading, and I wanted to protect my 60+ for the day.
All have a good evening/day and I will speak with you again tomorrow.
To your Trading Success.
The Investor Guru
Thursday, 3 December 2009
Forex Trading 03/12/09
I will start with good morning; however it wasn’t a good morning at all.
40 pips down on GBP/USD after being 10+ up.
It was certainly a morning where I had to keep my “Positive Trading Attitude”. Kofi and myself don’t often have trades that do not go our way these days so when they come along it can give you a bit of confidence crisis. This is where you need your “Mental Toughness”, “Confidence” in the strategies that we trade and our ability.
Now as I have mentioned this week about the psychology of trading. It would have been quite easy today to walk away and not trade for the rest of the day. However my belief is that if the strategy is saying there is a trade on and then pick yourself up dust yourself down and get on with it.
You need a certain amount of motivation to trade as long as it is used correctly, if the trades are not then the motivation can be misplaced an be more classed as overtrading. As you know that is one of the top ten mistakes that Forex traders can make.
So, back to my trading.
Well I was talking with a friend over Skype and he mentioned that the hour strategy that we use was looking good for Cable at 11:00. I did not get in at 11:00 for a few reasons, one being that it can be a quiet time. So when the signals were still there at 12:00. I decided to trade.
With hindsight and following the strategy I should have waited for the 13:00 candle to finish. That would have got my 40 pip loss back. Anyhow at least I am only down 10 pips today.
If I didn’t have a positive trading attitude then I would have withdrawn in to a shell and not traded for the rest of the day.
I would have traded again, however I needed to take my electric shaver back to a well known high street store as it was not working, not a month after purchase.
In the USA tomorrow an announcement you should be weary of is the Non-Farm, this happens on the first Friday of every month.
To your trading success.
The Investor Guru
40 pips down on GBP/USD after being 10+ up.
It was certainly a morning where I had to keep my “Positive Trading Attitude”. Kofi and myself don’t often have trades that do not go our way these days so when they come along it can give you a bit of confidence crisis. This is where you need your “Mental Toughness”, “Confidence” in the strategies that we trade and our ability.
Now as I have mentioned this week about the psychology of trading. It would have been quite easy today to walk away and not trade for the rest of the day. However my belief is that if the strategy is saying there is a trade on and then pick yourself up dust yourself down and get on with it.
You need a certain amount of motivation to trade as long as it is used correctly, if the trades are not then the motivation can be misplaced an be more classed as overtrading. As you know that is one of the top ten mistakes that Forex traders can make.
So, back to my trading.
Well I was talking with a friend over Skype and he mentioned that the hour strategy that we use was looking good for Cable at 11:00. I did not get in at 11:00 for a few reasons, one being that it can be a quiet time. So when the signals were still there at 12:00. I decided to trade.
With hindsight and following the strategy I should have waited for the 13:00 candle to finish. That would have got my 40 pip loss back. Anyhow at least I am only down 10 pips today.
If I didn’t have a positive trading attitude then I would have withdrawn in to a shell and not traded for the rest of the day.
I would have traded again, however I needed to take my electric shaver back to a well known high street store as it was not working, not a month after purchase.
In the USA tomorrow an announcement you should be weary of is the Non-Farm, this happens on the first Friday of every month.
To your trading success.
The Investor Guru
Wednesday, 2 December 2009
Forex Trading 02/12/09
Good morning everyone.
I didn’t trade in the afternoon yesterday so nothing interesting to report.
I had to take my car for its MOT this morning so actually missed a really good trade which I know my mate and trading buddy took 30 pips on GBP/USD. So well done Kofi you are a Master Trader.
There are some early announcements which really don’t help the market.
I have mentioned in the chart that I should have really taken more points on this breakout. I was trading 2 different strategies at this time and didn’t want to leave too much of my equity exposed. So closed this trade down with 10.9 and left the other to run.
I finally came out of the trade below with 22.6 so a total of 33.5, which when you look at the time limit in the trade 15-20 minutes I don’t think that is a bad return.
Well till tomorrow…I was going to go for a run this afternoon, I think I should take my swimming trunks!
I didn’t trade in the afternoon yesterday so nothing interesting to report.
I had to take my car for its MOT this morning so actually missed a really good trade which I know my mate and trading buddy took 30 pips on GBP/USD. So well done Kofi you are a Master Trader.
There are some early announcements which really don’t help the market.
I have mentioned in the chart that I should have really taken more points on this breakout. I was trading 2 different strategies at this time and didn’t want to leave too much of my equity exposed. So closed this trade down with 10.9 and left the other to run.
I finally came out of the trade below with 22.6 so a total of 33.5, which when you look at the time limit in the trade 15-20 minutes I don’t think that is a bad return.
Well till tomorrow…I was going to go for a run this afternoon, I think I should take my swimming trunks!
Tuesday, 1 December 2009
Forex Trading 01/12/09
Good morning everyone.
I had a really good day trading yesterday. I ended up with 55 points having taken 35 pips in the morning then a further 20 pips in one trade in the afternoon on Cable.
After those comments I have to say that I blew the 20 I made in the afternoon yesterday by a trade before 07:00 today. I went in short on GBP/USD at 16395, was up 2 pips then stopped out with 20 pip loss.
Would you believe me, if I said that I was trying to fix my laptop and missed the massive rise? I took 5.5 pips right at the top when laptop was back up and running. Let’s have a look at the charts and see where you could have made and lost your pips this morning.
I am now going to stay away from the trades for a couple of hours (have to buy some necessities). Will be back this afternoon for some more trades, which no doubt I will be telling you all about tomorrow.
Going on from my blog yesterday where I spoke of how important it is to have a Mission Statement. Today I am going to touch on “Trading Plans”. This for me is another must, this is where you put down on paper your weekly, monthly, quarterly and yearly plan and outcomes that you want from your trading.
On my weekly Trading Plan I start with goals, what I want my trading equity to grow by each week, from this I specifically mention how much I want for living expenses and then say that I also want some for our retirement fund.
Next I set a 4 weekly goal to raise my trading equity by a certain percentage. Again under this I state what I will be doing to maintain this. E.g. “I focus on continuous, repeatable success”, by following my trading rules. Then after this I read my Mission Statement.
To your Trading Success
I had a really good day trading yesterday. I ended up with 55 points having taken 35 pips in the morning then a further 20 pips in one trade in the afternoon on Cable.
After those comments I have to say that I blew the 20 I made in the afternoon yesterday by a trade before 07:00 today. I went in short on GBP/USD at 16395, was up 2 pips then stopped out with 20 pip loss.
Would you believe me, if I said that I was trying to fix my laptop and missed the massive rise? I took 5.5 pips right at the top when laptop was back up and running. Let’s have a look at the charts and see where you could have made and lost your pips this morning.
I am now going to stay away from the trades for a couple of hours (have to buy some necessities). Will be back this afternoon for some more trades, which no doubt I will be telling you all about tomorrow.
Going on from my blog yesterday where I spoke of how important it is to have a Mission Statement. Today I am going to touch on “Trading Plans”. This for me is another must, this is where you put down on paper your weekly, monthly, quarterly and yearly plan and outcomes that you want from your trading.
On my weekly Trading Plan I start with goals, what I want my trading equity to grow by each week, from this I specifically mention how much I want for living expenses and then say that I also want some for our retirement fund.
Next I set a 4 weekly goal to raise my trading equity by a certain percentage. Again under this I state what I will be doing to maintain this. E.g. “I focus on continuous, repeatable success”, by following my trading rules. Then after this I read my Mission Statement.
To your Trading Success
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