I'll be trading weekly charts using 80% Fundamental analysis and 20% Technical analysis. I'll post my trades here and their results when I close them. Of course trades will be posted when I open them.
23rd April 2010 (Friday)
Short Euro/AUD 1.4427
Short Euro/CAD 1.3277
Short GBP/JPY 143..42
Long CAD/JPY 93.56
Short USD/MXN 12.2001
Long XAU/USD 1140.60
Tip of the day:
1-When you lose X number of pips on a trade and you want to make them back ,try to make same X number of pips back ,don't increase the lot size. Because if you can't make X pips back ,then you are a bad trader and FX is not for you. Its number of pips that matter.
2-In order to have pateince for ur trade to hit TP and not close it , treat it as a losing trade ,always expect SL to be hit and always be comfortable with the losing odds. Professional traders are comfortable with the loss ,amateurs are eager for the win.
3-The best way to trade is not to trade at all.
Thank you and will update these trades later.
23rd April 2010 (Friday)
Short Euro/AUD 1.4427
Short Euro/CAD 1.3277
Short GBP/JPY 143..42
Long CAD/JPY 93.56
Short USD/MXN 12.2001
Long XAU/USD 1140.60
Tip of the day:
1-When you lose X number of pips on a trade and you want to make them back ,try to make same X number of pips back ,don't increase the lot size. Because if you can't make X pips back ,then you are a bad trader and FX is not for you. Its number of pips that matter.
2-In order to have pateince for ur trade to hit TP and not close it , treat it as a losing trade ,always expect SL to be hit and always be comfortable with the losing odds. Professional traders are comfortable with the loss ,amateurs are eager for the win.
3-The best way to trade is not to trade at all.
Thank you and will update these trades later.