Results Statement‘Free advice doesn’t mean anything for most people.’’ — Dr Van K. Tharp

Hello:

Attached herewith are the trading results for the last week. The results are similar on live and demo accounts – only equities are different.

Trades Missed:

The pairs are GBPUSD, EURUSD, EURJPY, and AUDUSD. Honestly each of these pairs would have hit my targets if I saw my charts when my entry conditions were met. I was doing some forex training at an international training center. The Moving Averages had already indicated potential bearish movements, but I was only waiting for the RSI to confirm these. When they were confirmed, I wasn’t online, and before I knew, the trends had gone too far. I could still ride them and win, but I prefer not to enter late signals unless there are reversals against the trends. This action doesn’t guarantee any accuracy however. If I knock my head against the wall for missing nice trades, what would I do if I miss bad trades as well? Opportunities are always ahead, and sitting in front of your PC 24/7 doesn’t improve any data.

Losses:

NZDUSD: Buy = -$162.75

EURGBP: Sell = -$249.44

Profits:

USDJPY: Buy = $132.20 (62-pip trailing stop applied)

EURNZD: Sell = $309.84 (82-pip training stop applied)

USDCAD: Buy = $$291.02 (74-pip trailing stop applied)

EURAUD: Sell = $281.49 (80-pip trailing stop applied)

I was able to make over 6% returns last week – risking only 1.5% per trade. The battle continues this week. We have no control over the markets. It would take a mad genius with a significant amount of criminal energy to even think of manipulating trades against a broker!

Surfing the markets when your capital is at stake is no picnic. The markets are a battlefield; and no-one goes to battle without adequate training. There’s no Holy Grail anywhere (only risk management makes the difference) Top traders may even have more losers than winners and still survive; because of a sensible positive expectancy.

But if you’d been battered by the markets before, you can still make it. Falling down doesn’t spell a failure; staying down is a failure. Whether you’re a beginner or an advanced trader, you still have much to gain here. There are veterans of the markets and gifted instructors @www.fxinstructor.com. They are more than willing to guide you to success on your journey to financial freedom. Plus there are lots of freebies for you as well. You may want to contact them at: info@fxinstructor.com

Your questions and opinions are highly welcome.

Thank you.

Yours sincerely,

Azeez Mustapha

Related Posts:

  • Trade Report (April 19 – 23, 2010)
  • Trade Report (April 5-9, 2010)
  • Trade Report (April 12 -16, 2010)
  • Mid-week Markets Update (May 5, 2010)
  • Tweaking Of My Strategy
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