EURUSD

i feel sorry for you that is why i love spain... sunshine! blue sky. beautiful!

anyway Germany is got lots of other beautiful things plus less unemployment, better economy

At least u have snow Here its just raining for two days straight, cant see 200 meters in front fog everywhere And floods are expected...

But the question is, did you try martingale?

i agree with you, every trader is different, and it also depends on what margins you are using and how you trade. so i think you and pipchick are both 100% correct

There was not much movement overnight so I only did one trade. Again as you can see now the highs were hit overnight and then pushed down. A repeat starts in the North America time frame.

I was really trying hard this morning to find a way to be more helpful in giving good trading information.

I was thinking about the fact that many here are technical traders and in the end this puts you at a disadvantage since it is clear you put so much focus on the technicals.

On the other side we have the fundamentals and they are always more helpful than the technicals however there is more time needed and a need to understand more than support and resistance.

Since most that post here post using their technical view I realize that to convince you to have an open mind by just explaining my trading style which is different from yours in most cases will be a hard task.

Some posters here have asked me privately to assist them.

I think that I might have come up with a solution to my problem. That is how to help without making it seem that I am knocking or discouraging trading by focusing on why the technicals do not work on their own.

I will try a new approach for anyone who sincerely will have an open mind and really wants to make money trading currencies period.

My new approach will be to focus on the pyschology of Forex trading.

When someone asks me to teach them how to improve their trading I say that after 30 days I will be able to tell you if you even have a chance to be taught properly.

The reason for that is simple. If you do not even have discipline and your character is such that you trade through fear or greed and your ego is such that you think you are so smart as to know better you should stop trading now unless you are ready to work on yourself and the pyschology of trading.

After all the TECHNICALS are only the pyschology of the market at this exact moment.

Just image Millions of you having this forum discussion and then you will see my point.

I would really appreciate some feedback from anyone that really wants to improve and make money in forex next year.

I will start my new approach on the pyschology of trading this morning by briefly explaining the movement of the charts since Midnight EST without needed to look at bear wedges and candles and trend lines and on and on.

It is so simple to me and yet most do not see it. I will explain why.

As the new day approaches the real traders who work mostly for large corporations are away from their trading desks. All over the world people like yourself are trying to figure it out. Those that need to make money (MISTAKE ONE) start going long and it builds up and then we get to near 3:00 AM and the professionals come in and have the power and the knowledge to move the markets the way they want ONLY SHORT TERM and they do. By 4:00 AM we start another cycle into the North America open just as you see know.

I am ALL in cash for the moment. I have the DISCIPLINE to STAY OUT so I have a better chance to get in when I see an opportunity to go short.

Let us imagine some out there have a drinking problem and their best friend tells them that and they say no I do not.

OK fine. Why don't you show yourself that by not having a drink for 30 days ?

Now we get to some of you and others around the world learning Forex.

DO YOU HAVE THE DISCIPLINE TO NOT MAKE A TRADE FOR 30 DAYS ?

If the ANSWER is NO then you will lose trading Forex. Think about it this morning.

I am here to help you and again I have no hidden agenda because I give my time and energy and knowledge in return for the pleasure of seeing some of you make money and learn.

Perhaps my EGO needs it but the TRUTH be I really enjoy sharing my knowledge and it helps remind me why I am one of the few traders that can see my NAV increase each and every month that I trade.

I know the industry average so as long as I reach my goal of 10% each month life is fun and I really enjoy it. I am over 60 years of age so in my life I have got the maturity needed to be successful in anything I do.

I love trading Forex as it is my life and my way of life in becoming stronger mentally and physically

I wish all of you a healthy and prosperous New Year.

disagree.

I wish you the best Snatch and a Merry Christmas also

thats why ive been placing these trades so that I dont have to trade but only manage, or pick the apples as they fall from the tree as Gator would say..
merry xmas

anna

The Grand babies are awake so I have to go. Merry Christmas everyone

Exactly. No harm in addiction.

Don't do what I did. I did tons of homework and used a ton of leverage. It worked until it didn't.
Had I not used so much leverage, I wouldn't have made as much money, but I wouldn't have gotten crushed so quickly.

The best advice that I have is figure out the maximum leverage that you're comfortable with and use half of that.

And if ever get a margin call, it's time to close all of your positions and take a break from the markets. You screwed the pooch if you get a margin call.

Awww...

i have always been against the idea that experience means much professionally. i remember when i was 27 i went to this meeting with all the heads of departments in europe and they were all much older than me. twice my age or more. i felt a bit overwhelmed with that. someone wise told me: "u shouldn't be worried, u should be proud. u are were all the others are in half the time!" so i never really believed experience but on capabilities, personnel characteristics.

and then came Forex...

in my very humble view this is all about experience. although there are exceptions, getting to be consistently profitable in forex long term is a process of mind change. and that takes time, quite some. experience teaches our subconscious about not jumping in, waiting for the correct setup, accepting (really accepting) loss as investment, remaining calm in the less probable situations, letting go of the missed opportunities and waiting for the next entry, putting up with the bad flows without loosing focus, gaining confidence on your trading, all this takes deep change in our minds, all this takes time. it all about experience...

i know many will dispute this. i did too in the past.

hapipipin

long 3116 for scalp

you too darling xx
anna

how did you work that out?

trading the 3113 - 3123 box.lol. ^^

tp hit

good morning forexpro ,

i LOVE reading your posts as i mentioned in an earlier post.

however i do not have the dicipline to not trade a whole month , but i do have the principle not to trade until i FIRMLY believe in what i am doing.

i had the dicipline not to trade for the last 30 years ...

honestly speaking i knew about forex ages ago but before i started i did start studying until i felt i was ready enough (which obviously every day i find out that it will take me years to learn)

re: technical analysys that is where i need to learn most as current world affairs i have always been up to date.

and to repeat as i said earlier, love your post and would love learning from you!

man, you're good.