Introduction to RYZE.Ai:
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Now back to “the best of” my personal trading:
A Slow Trading Day
Today I will cover a couple of trades including one involving the Australian Dollar. So, as my regular readers know this gives me an opportunity to share some geography and information about an interesting place in Australia.
I am continuing to write about my trading adventures I have been participating in trading. I have also decided to include my own trades on days when there are no Daily Swing Trades and sometimes even when there are daily swing trades.
Today there is no new trade called, but there are ongoing trades which I will cover below.
Previous Daily Swing Trade Results: Australian Dollar / New Zealand Dollar (AUDNZD)
A few days ago, I called a Daily swing Trade for the AUDNZD currency pair, which is shown in the screenshot below.
My Chart of the AUDUSD Daily Swing Trade:
I have six positions on this trade which is a lot for me and it is moving in the right direction. I will be very careful about moving my stops on this one. Trade management is every bit as important to your trading success as deciding when to enter a trade. Trade management is often the difference between a winning trade and a big loser. Traders really need to have a plan on how to handle the trade once you are in it. If not I have seen trades that were big winners change direction rapidly and the profits vanish and losses come quickly. Avoid this. Move your stops once you move into profit. I am not saying make them too close, if you do you will always get stopped out. Just manage them as the trade progresses.
Kangaroo Island – Australia:
People who are regular readers of my posts know I like to include some geography or interesting facts about places related to currencies I am trading in my posts. In this instance I am in a trade involving the Australian Dollar so I added some information about a place called Kangaroo Island. Please also check out my travel blog.
From Kangaroo Island website:
“Discover a wonderland of native wildlife, empty beaches and national parks on Kangaroo Island.
See native wildlife in the wild in the ecological haven of Kangaroo Island.
Kangaroos, koalas, wallabies, penguins, echidnas and bird life all call this island home. Walk amongst a colony of endangered Australian sea lions at Seal Bay. See sleepy koalas in the trees. Load up on fresh produce – from Ligurian honey to free range chickens and eggs – and wine produced by 30 growers from Cape Willoughby to Kingscote.
The Island is also home to breathtaking scenery. Rugged coastal cliffs, sheltered bays cupped between steep headlands, vast native bushland and rolling hills of farmland are just some of the breathtaking landscapes on offer.
Remarkable Rocks and Admirals Arch are two of Australia’s most fascinating coastal landmarks. Swim on a secret beach at Stokes Bay, surf at Vivonne Bay and fish from Emu Bay. Tour the underground caves at Kelly Hill Conservation Park and immerse yourself in the wilderness of Flinders Chase National Park. With accommodation ranging from five-star clifftop resorts, through to hotels and simple lodgings, there’s something for everyone on ‘KI’.”
Some of the sights you can see at the Kangaroo Island.
Map of Kangaroo Island, Australia:
Today there were no new trades called either by the service I was evaluating or any I did on my own. So, a pretty dull trading day. However, there is a trade in progress that is in profit and looks to be really good. So, I am not complaining.
If you want more details about Forex trading or have any comments on my pictures, feel free to leave them below or send me an email at xin@FXTradingIncome.com
Anyone who is now ready to join me in my Forex trading, click here.