I will either make it in Forex, or die trying

Mission #3 initiated on audchf.

The market price has moved in my favor, but the previous low has not been broken.

Stocks, oil and gold are retracing, and I have moved the stop loss to the entry price.

With no casualties, this mission is considered a success.

Risk assets are beginning to rally.

Aud is failing to make lower lows.

Chf is weakening.

The trade has been closed for +28 pips.

Hi Pip Commando,

I like the tittle of your journal and I seem to have the same motto. I just don't see my self giving up, not after testing a bit the rewards forex can give you. It does not matter how long and how hard it will be, I will be there to the end! Soldier on mate and we will be here to through in a few words of encouragements.

Hi johNal,

Thanks your support. Now that I have declared publicly my intentions, I find myself a lot more motivated to stay disciplined and take trading seriously.

On the side, I am tracking my trades and keeping a journal, and I am already learning some big lessons from it.

Starting this thread is one of the best things I did for my trading.

I would recommend anyone learning to trade to do the same.

After missing a beautiful 160 pip drop on cadjpy (I'm still feeling bitter about that), there is now another chance to hop on the downtrend train.

some thing for you to make you feel good and motivated.

http://www.forexfactory.com/showthre...41#post7003541

Thanks... it's good to know I am not alone on this journey.

Missions #4 and #5 have been initiated.

It are not the intellectuals who succeed, it are not those that are rich who succeed - only perseverance is omnipotent. (famous expression I read somewhere). However I would suggest to focus on a single instrument until mastered and afterwards focus on maximum 4 or 5 instruments.

Hi mjl,

Thanks for the advice!

The main reason why I am trading multiple pairs is because I trade fundamentals, and they will allow me to cherry pick the currency pairs with the best setups.

I have tried trading on just one pair in the past and the setups took way too long to come up.

If I was an intraday trader, I believe trading one pair would be sufficient... but for my situation, I need to look at multiple pairs to choose the few that best expresses my fundamental position.

Weekend review of open trades:

Canada is showing positive economic numbers and the downtrend in oil is weakening.

Jpy is still going strong strong so my cadjpy position is relatively safe.

Chf however is weakening and this is the first alert sign I must not ignore. When the market opens on Monday I will be waiting to exit my cadchf trades as best I can. The target would be zero causalities. Any profit on top of that will be a bonus. Safety comes first.

The partial U.S. government shutdown continues, and the World Bank has cut GDP projections for China and East Asia.

These are risk averse factors and support my short cadjpy and cadchf positions.

Depending on price action, I am still looking to close my cadchf position.

Mission #4 has been aborted with no casualties and small profit.

Mission #5 is progressing well.

The stop loss has been moved to the entry level.

Looks like a setup on chfjpy.

I like the simple but elegant approach. Good luck, the effort will be rewarded (someday)

"I will either make it in Forex, or die trying"

That quote amuses a lot , its positive side (actual quote was about money )
Haven't even read the first post regarding your plan and stuff (just looked for rules), but wishing good luck.






P.S
Make sure you totally remove revenge trading element in you (if any);
Usually with this quote like mentality, there is always a factor of revenge, trying to peep in)

Thanks for the words of encouragement... I will do my best to remain objective and avoid revenge trading.

The jpy pairs are looking good, and there is another potential setup on eurjpy.