Forex Blog: Currency Trading

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Todays trades I have taken between 6am and 7 am GMT.

I am in a bit of downtime with todays trades but I celebrate the winning of 5 pips so far today.

I took four pips out of Euro in a long and closed a 1 pip GBP/USD trade.

Yes, this was early closure on both trades. I did not like the setup too much because the trade balance really is coming out today and my long in cable was poorly timed. I should have got in at —69 and out at 85 instead I foolishly got in at 80 and probably should have left until my limit at —94 but the price was really seeming to hang on a thread at 82.

So, many more opportunities to come today. I only require to make 5 pips in my trading to be on target with my forex trading plan for the day today.

I full anticipate doing that within the next hour or two.

However, if I am not in the right mindset, I will forget it and go out for a walk and treat myself to something nice. Because if you beat yourself up too much you’ll end up frustrated and won’t make any money.

So, I will wait for some forex tipsters to publish and possibly look for a buy back on a mini-retrace on cable, or a buy on EUR/USD. But its not definite.

My exit on EUR/USD was purely because I do not like to trade more than one pair and the trade was distracting me from my GBP/USD trade.

I hope you enjoy the videos in the posts below. I am working to integrate them in to the blog. Members of my program are very excited about this opportunity to work with me. And now I must go.