There are a couple of potential trades on the horizon, there was nothing last week except one I missed when i was on holiday which was on the EURCHF.
When we could have got in, there would have been roughly about 120 pips in profit.
Again though, I decided not to trade as the set up was not ideal, and as mentioned over and over again - I would much rather be 1 or 2 pips in profit than have a bif drawdown and look back saying that it was not a perfect setup! This will be waht distinguishes a trader from a gambler...
I know what bracket I would rather be in!
Happy trading!
Monday, December 19, 2011
Tuesday, December 13, 2011
Time off
Just a quick message to say that I took last week off from looking at the markets due to other work commitments, which meant that I could not update my blog, and it also meant that I was not able to follow the markets that well.
With that in mind, I shall endeavor to let you know BEFORE I take a leave of abscence - of course sometimes that will not be possible, but I will endeavor to do so just so that you need not keep checking back all of the time.
Anyways, this does bring up a good point - I do feel refreshed coming back to looking at the markets, and it is important to have a life away from them. There is nothing better than a trader who is fresh and able to bring energy to the markets... It may sound strange, but energy is what is needed. You need to spend some time going through the markets each and every day, and It can quickly get quite tiring... taking time away can renew and refresh, and just remember, the markets are ALWAYS there (although some currencies may not... EURO !!! ;)
It is a worrying time in all seriousnes though, as the Euro zone represents the largest economy on Earth... 3 times as big as the US banks... that is certainly food for thought. If the Euro were to fail, there will be massive implications on all the markets around the World - not just currency, but equities as well as futures and the whole shabang.
It will be interesting to see how this plays out. Will the Euro fail? I would say probably not, but who thought Enron would fail, or Lehmann brothers or Northern Rock, or the (now) publicly owned banks in the UK....
Nothing is certain, but keep your eyes open for opportunities!!!
As it is, there is nothing on the horizion at the moment in terms of trades, but will be looking for them this week!
Happy trading
With that in mind, I shall endeavor to let you know BEFORE I take a leave of abscence - of course sometimes that will not be possible, but I will endeavor to do so just so that you need not keep checking back all of the time.
Anyways, this does bring up a good point - I do feel refreshed coming back to looking at the markets, and it is important to have a life away from them. There is nothing better than a trader who is fresh and able to bring energy to the markets... It may sound strange, but energy is what is needed. You need to spend some time going through the markets each and every day, and It can quickly get quite tiring... taking time away can renew and refresh, and just remember, the markets are ALWAYS there (although some currencies may not...
It is a worrying time in all seriousnes though, as the Euro zone represents the largest economy on Earth... 3 times as big as the US banks... that is certainly food for thought. If the Euro were to fail, there will be massive implications on all the markets around the World - not just currency, but equities as well as futures and the whole shabang.
It will be interesting to see how this plays out. Will the Euro fail? I would say probably not, but who thought Enron would fail, or Lehmann brothers or Northern Rock, or the (now) publicly owned banks in the UK....
Nothing is certain, but keep your eyes open for opportunities!!!
As it is, there is nothing on the horizion at the moment in terms of trades, but will be looking for them this week!
Happy trading
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