Monday, January 29, 2007

Every Dog has it's day

To say that the market this year has been unkind to me is an understatement. Every (I repeat Every....well maybe most..)trade I have taken since June 2 has gone poorly. Some are my fault, others are just being in the wrong place at the wrong time. But as I have stated previously, I believe that you always make your own luck. Hard work will pay off. After further reflection I do not think I have been working as hard as I could, or should be. I one time years ago read a quote by Arnold Swarznager (and I am paraphrasing here) "Whenever I found that I was not achieving my goals I went back and worked harder". No excuses, point the blame where it belongs and move on.

I have also been working on a trading model. It is still in it's testing stage but I will be posting a the signals as they come up. They will not be in real time (as i do work for a living) so by the time you see the signals some will be in the money and other out of the money. Do not take these signals as trade recomendations. It is just something that I am working on.

These are the FX Trading Ideas for today.

Good Luck and Good Forex trading




Anonymous Caravaggio said...

That's quite a run of bad luck. I hope things turn around for the better.

It can be helpful to question what lies at the heart of the losses, and whether you can implement any changes that may help your future trades. One trading problem that I experienced, for example, was not aligning my risk parameters with the time horizons of my macro views. I used to trade macro views with a stop of 1 or two big figures in cable and would get wiped out by the volatility. Greed was at the root of this particular problem.

Also, while trading requires a great deal of time and commitment, it is unlike many other endeavours in that you can end up a net loser even after all the hard work ... this is simply due to the large role of chance in this particular pursuit.

All I can say is live, learn and evolve. All the best, Caravaggio.

6:24 AM  
Blogger Banker said...

Thanks for the Advice......and totally agreed on the hard work point. Hard work in trading does not guarantee success....

10:20 AM  

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