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Tough week in the Forex trading trenches?

Hey, I don't know about You, but it was a tough one for me, and not just yours faithfully, but other traders I spoke to as well.

Most of my signals came a cropper, were false or too late and amounted to little or even a small expense (my euphemism for loss, makes me feel more like a businessman, but jokes aside, it really is an expense, unless you let it run too far).

As I mostly trade the Euro (I have a 1 pip spread with my spread betting firms so I use it) as it's easier to scalp and is highly liquid, unlike the Looney and the Beast (CAD and GBP respectively) who can consolidate for longer than you imagine and then blow a gasket and off to the races. That's always cool if you're on the right side.

However, even with the flipping Euro this week, it just kept flopping out on me and couldn't really get my teeth into anything, until today's failure at the weekly and daily R1 (or there about). Got the usual bounce at the S1 area but then dropped all the way down to S2 where it met some stronger support and started climbing again.

So, all in all was an OK week, pretty much at breakeven or positive by some beer money, so mustn't grumble.

I had some conversations on the phone and Skype with other traders and quite a few had a funny old week, so I feel a bit better about my trading, at least I stuck to the plan and was spared a true bollocking. In fact by Tuesday I had decided that I can hardly find a way in and took some time off to play around with some Internet marketing stuff I'd bought and as I only trade 4 hours a day max, I have plenty of time to explore other ways to make some passive income (highly recommended if trading is your sole source of income).

Also spoke to my friends at Old Tree publishing in South Africa and found out a bit more about Russ Horn's (of Forex Rebellion Forex trading system) new Forex Master method, sounds good, so my order is in place, I'll keep you posted.

Anyway, have a great weekend, and I've embedded a video I often watch when I lose sense of proportion, no belief is true.

 

Take Care,

Mark

 

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