Forex Strategies Guide for Day and Swing Traders
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Now I have an admission: I am quite the ignorant, Neanderthal, philistine I suspect most of my readers had already worked that out. I find most modern art a bit self-indulgent, in the same vein as jazz, namely more likely to be enjoyed by the artist than the viewer. Capital llc trade how binary profitably options the confident to action and forex mentoring program was told that this was art.
I have it as a fridge magnet see I told you I was a philistine What can I say? The former Air Defender in me is still alive and well and takes pleasure in scenes of aircraft getting shot down! As an aside I learnt that Lichtenstein served in the US Army during the Second World War and in particular focused on anti-aircraft drills and operations and lots of his early work consisted of drawings of aircraft — so maybe he too derived pleasure from scenes of aerial combat? However I was pleasantly surprised to find the piece below — and I would love to have it on my office wall!
I thought it was fantastic and ended up having to explain to my date and several others what capital llc trade how binary profitably options the confident to action and forex mentoring program was representing. I loved it so much that I went to the shop and tried to buy a copy see, even Philistines can support the arts, now and then.
Sadly they had none. In a weird world of coincidence just a couple of days later I got a text from my friend and colleague Malte Kaub Twitter: To many people looking at it would give them a headache. Even cooler was when I tweeted the photo a guy on twitter actually spotted himself in the photo.
How cool is that? I was today interviewing a former trader who started up as a floor trader on Liffe and then made the transition across to electronic trading. I asked him about how the transition went — he said it was extremely hard, and most floor traders did not make the transition. We talked about it and came to the conclusion that in the old days you saw your enemy — he was the guy on the other side of the pit — you could see the whites of his eyes, and get a picture of whether he was confident or sweating about his position.
That was an edge. Instead of taking cues from the guys around you, now the only feedback you get is from yourself — and so you need to know how you think, operate and behave far more intimately than ever before. I run this once a year.
This will be run over 3 days. The two days in March will focus on trend-following. The day in May will focus on trading reversals. The aim is to develop competency at building a picture, selecting the right instruments, trade management and improving profitability.
There are presently only 5 slots left. This also includes an MT4 Dashboard plug-in to help with trade decisions. Whilst an undoubtedly great song I have always struggled with that line. Make of that what you will.
Which leads us onto this blog piece and the review of my own year. As for myself I closed down shop over the Christmas period. Apart from an occasional glance at a chart of Ripple I stayed away from all markets and trading. For me, it was the right choice. As part of my downtime I like to conduct a review not only of my data but also of my behaviour and my decisions, along with planning my year ahead.
This blog post is part of that. I apologise for the length and the rambling nature of it. It is what it is.
I figure people can learn more from my mistakes than my successes. Furthermore it shows that none of us are exempt from the human condition or perfect in our trading.
None of us are beyond reproach — we are all striving, and evolving, towards being the best trader that we can be. I wrote 2 blog pieces at the start of summer about how I sensed that we may have reached the highs and be due a healthy correctionif not a crash. The summer came, and went, and so did my plan. For which I apologise. Markets looked like they may roll-over but in reality they just took a breather before resuming their upwards, unstoppable momentum.
Even though I had a suspicion that markets may roll over that was not an indication to sell everything but I did have a few short trades on the NASDAQ which were profitable but never truly followed through. If it kept going up then it was not ready to roll-over and he would stay away. Wise advice — if you can afford it.
The next was once price had traded back up to previous highs, and then broke them, I should have bought the market. That was remiss capital llc trade how binary profitably options the confident to action and forex mentoring program me. Shame on you Paul. For the moment you have to trade what you see — and markets have been continuing North. He actually said this in Nov when people may suggest that the music had already stopped playing.
If it had not capital llc trade how binary profitably options the confident to action and forex mentoring program, the markets were certainly at that quarter-to-2 in the Disco time when you did a quick prowl of the dance floor to pull a girl for the last dance. You get what I mean. The end was nigh. Crypto — Too late to the party. I had always treated it as a bit of a fad.
I remember very clearly the Dot-Com bubble. There are many differences for me at least. During all the dot-com hype I could actually see and understand the implications of the new companies and technologies.
A company that you could buy pretty much any book in the world at cheaper prices than the book store and have it delivered? Having all your Music downloaded into one cool looking gadget the size of a cigarette packet? Being able to buy your Waitrose Groceries online and have them delivered? Com the straw that broke the camels back I could understand that here was a website that offered a one-stop shop for all your last minute holiday getaways.
Capital llc trade how binary profitably options the confident to action and forex mentoring program the Tech companies that underpinned the internet infrastructure I could understand which was a good job as I was working in Telco and Internet Tech at the time.
Whereas Bitcoin seemed a bit of a fad for me. And my experiences just reinforced that. Another example was just before Christmas we had an electrician in to fix some lights and he was telling me about his Bitcoin holdings. I am chuffed that he has made money — but when your electrician is giving you investment advice an old cynic like me starts to get a bit grizzly.
I had monitored it for the last months but it had already sailed past my ideal entry point. I was forced to join the party at 25 cents. So I do have some Crypto exposure, but no-where near as much as I would have liked. Furthermore in the interests of full disclosure I have not made much personal gain from my Crypto holdings. However, my 8 nieces, nephews and god-children on the other hand have done very well. Overcome your own bias and get back to being an early adopter.
My experience of the Dot-Com boom even though I did well out of it had made me overly cautious. Last year was USD — and the price action in January just confirmed that. For the first time in a good few years I have no particular bias for any particular FX pair going into this year. I shall wait and see what the markets offer up. Watch and Shoot — watch and shoot!
The Comdolls have started well so far this year. I used to do it a lot. Then, not so much. Over the last 2 years I have done a little bit but on a purely opportunistic basis i. And in the second half of I found myself returning to it. Partly because of market conditions but also partly because my schedule allowed me to structure my time better to focus upon it. Furthermore I found myself re-visiting the 1 minute chart — in particular on the DAX. I have avoided the 1 minute for a long time.
Some of you may know why. When I first started trading FX many years ago my mentor encouraged me to trade 1 minute charts. It turned out at the time that I was not very good at it. Firstly I found that it tapped into the hyper-aggressive side of me. It brought out my killer instinct, and not always in capital llc trade how binary profitably options the confident to action and forex mentoring program good way.
Secondly I found the 1 minute charts were too slow for me. So every 10 seconds I would have a new picture and need to make a decision: So waiting 60 seconds for a candle to complete seemed like an absolute life-time.
So on one hand I had hyper-aggressiveness rearing its head the part of Paul that wants to kill everything and on the other hand I was applying the brakes as I waited for the chart to update. So I decided to give 1 minute charts a miss many years ago. However recently I had noticed that a lot of my intra-day trades upon reflection were offering earlier opportunities to get on board at better prices thereby reducing my trade risk, and offering a more handsome reward-to-risk potential see later point below.