True Forex Trader

2 Responses to “My Forex results for February 2008”

1. Patrick, on March 5th, 2008 at 9:55 am Said:

   I can’t believe you can co-op with this volatile pair. Despite all upward expectations it went down like a rock again. Do you see any future upwards recovery for it?

   Thanks.

2. A bit of common sense, on July 10th, 2008 at 12:59 pm Said:

   Hi, I feel your pain, and have been through the same misery myself. Just a few suggestions that might help.
   1) With a small amount of money invested, you will have to trade the shorter time frame charts (but don’t trade 1 minute, too volatile). I trade the 1 hour charts with good success.
   2) Ranging behavior is tradable, just the same as trending behavior, but you have to develop a unique strategy for each one. Once a strong trend is in play, move to a shorter time frame chart to get entry and use a trailing stop to get you out when the trend fails.
   To trade ranging behavior is much easier, once you get the hang of it. Draw a bar across the top of the upper bound and another bar for the lower bound. Now you can see that price is moving between them. If the predominant push is in the downtrends, then tradedowntrends, vice verse for uptrends, and you can trade both if there is no favoritism shown. example: At the next move down, sell down to the lower bound. If price suddenly continues down (due to an emerging trend), you won’t get hurt. Your stop should be just above the upper bound.
   You can’t make much money unless you have more to invest, but you can makesmall gains.
   On shorter time frame charts, watching the plays is a reality. Learn to do that without emotion, so that, when you develop the skills to make larger plays, you will do so skillfully and without fear or greed.
   Good Luck, Aurora

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