Xin’s Independent Currency Trading for 3/23/2016 – Winning Everywhere with the Pound

Introduction to RYZE.Ai:

trading-on-carnival-magic

Trading on the Carnival Magic Cruise Ship

Would you like to earn money from the deck of a cruise ship? How about having your money work while you are sleeping? If yes, read on.

Individuals who have read my blog articles have sometimes told me often that they really enjoy reading my trading adventures and they would like to make great returns trading currencies or commodities like silver or gold but they don’t have the time to master all the skills necessary to be really good at trading. If you are one of those people, there is an excellent software algorithm called RYZE.Ai by a company called Hodo Global. I can show you how this fully automatic artificial intelligence software program, which  I use to generate consistent returns in my trading account, day after day and month after month, can benefit you as well. Independent analysis (I will post a blog with links soon.) documents RYZE.Ai has earned 3.06% per month on average. For more information, please watch the overview videos, read more of my detailed articles, attend a Thursday evening webinar , check for a RYZE.Ai seminar in your area or send me an email or set up a time to talk to me personally.

Special Summer Promotion

Currently there is a subscription special reducing the initial fee to only $99, a savings of $100. Read my bog about the special here.

Why RYZE.Ai?

RYZE.AI Trading Methodologies

RYZE.AI Trading Methodologies

 

Now back to “the best of” my personal trading:

Introduction:

tower-of-London-1

Tower of London

This is my daily trading report for Wednesday, March 23rd, 2016. My daily trading report is the forum where I track my individual trading activities. This daily report details the trades I select, why I select them and how the trades turn out. I also explain how I manage the trades by moving profit targets and adjusting stop loss orders. My goal is to become proficient at trading independently. I realize this will take time and effort. I am detailing my experiences to help others jump start their efforts and perhaps avoid some of the mistakes I have made. I list my good trades, my good decisions and my losing trades, my bad decisions and my errors as well. I make mistakes. I make errors that are rookie errors. It is part of my learning curve. I am gaining experience every day and try not to repeat my mistakes. Hopefully you find my articles educational and entertaining. Please don’t hesitate to leave me a comment and let me know your thoughts.

For the hands-free automated trade mirroring program results and for the Live Trading Room results, check out my weekly trading reports. I am a little behind on these, but I hope to catch up soon.

 Evening Tuesday 3/22/2016 

I had some trades and signals on the evening of the 22nd after I had already posted my report for Monday the 22nd, so I am including them on Tuesday the 23rd’s report.

Signal: British Pound / US Dollar

This first signal on the British Pound / US Dollar looked to early to enter a trade. It is still moving downward and there is no confirmation of a reversal to justify the buy entry. I will see if a reversal occurs and then may enter the trade at that time.

GBPUSDiM5-Shark-3-22-2016-819pm

British Pound / US Dollar (GBPUSD) Harmonic Shark Pattern on 5 Minute Chart on 3-22-2016 at 8:19 PM

 

The price action is still downwards. This last few minutes justified my decision from above. There still needs to be some indication of a reversal. The don’t try to catch falling knives rule applies here. I have tried to do that before and you really an get bloodied trying to do so. Another trading saying is “Don’t jump in front of a moving train.” Meaning if something is moving strongly in a direction, don’t take a position the opposite way or the train will run you over. This basically means the same thing. But either way, just don’t do it. I have done so several times and it is a painful experience.

GBPUSDiM5-shark-3-22-2016-822.pm

British Pound / US Dollar (GBPUSD) Harmonic Shark Pattern on 5 Minute Chart on 3-28-2016 at 8:22 PM

 

Here we go a reversal. I entered the trade here with two positions. I got the reversal indication I was looking for and felt comfortable taking the trade at this point.

GBPUSDiM5-shark-3-22-2016-831pm

British Pound / US Dollar (GBPUSD) Harmonic Shark Pattern on 5 Minute Chart on 3/22/2016 at 8:31 PM

The trade is off to a good start. the upwards movement is continuing, which is a good sign.

GBPUSDiM5-shark-3-22-2016-837pm

British Pound / US Dollar (GBPUSD) Harmonic Shark Pattern on 5 Minute Chart on 3/28/2016 at 8:37 PM

The price action seems to be going sideways for a period of time. this could be either good or bad. Let’s see what happens overnight.

GBPUSDiM5-shark-3-22-2016-940pm

British Pound / US Dollar (GBPUSD) Harmonic Shark Pattern on 5 Minute Chart on 3/28/2016 at 9:40 PM

Results: Australian Dollar / Canadian Dollar

This trade finally completed. I had taken three positions on this one and it hit all three profit targets. Very happy with this trade.

AUDCADiH1-Gartley-3-22-2016

Australian Dollar / Canadian Dollar (AUDCAD) Harmonic Gartley Pattern on 3/22/2018

Signal: Australian Dollar / Canadian Dollar

This was the trade just before the one above. I have had these a couple times and they can be good. You almost go from closing out a long or short position right into a trade in the opposite direction. This one hit a couple of the price targets before failing and leading to the signal above.

AUDCADiH1-shark-3-22-2016-544am

Australian Dollar / Canadian Dollar (AUDCAD) Harmonic Gartley Pattern on Hourly Chart on 3/22/2016 at 5:44 AM

Evening Wednesday 3/23/2016

Results:

Signal:

GBPJPYiH1-shark-3-23-2016-411pm

British Pound / Japanese Yen (GBPJPY) Harmonic Shark Pattern on Hourly Chart on 3/23/2016 at 4:11 PM

Today’s Geography Lesson: Tower of London Park

Lessons Learned

Lessons Learned 1: Don’t do too many trades at the same time. Today there were a great many signals, especially on the five minute charts. I am not yet skilled enough to have five or six different trades working t the same time. I want to limit myself to three open positions at a time. I can’t react fast enough if I have too many open. I can see after I have enough time as a trader this could change. Six months from now, this may be a piece of cake, but for now it is too much.

Lessons Learned 2:  When in doubt, get out. By this I mean if the harmonic scanner signal becomes invalid, exit the trade unless there is a compelling reason to stay in the trade. Such as, it is still moving in your direction. It can be okay to wait a few minutes to see if the signal reappears, which isn’t unusual.

Conclusion:

Not too many trades today. I was pretty busy and spent less time than usual checking out trades. There was an Easter Music special at church that some friends were singing in, so that took precedence. Plus we are packing for vacation. Next week my son has spring break and we are going on a cruise out of Galveston, Texas. So, packing is the name of the game this week.

I really need to work more on figuring out my reaction times on the five minute chart signals. Perhaps I will just have to realize that you miss a large percentage of these trades because they move to fast to get in. However, there are a great many of these signals generated, so perhaps that will give me a chance to catch enough of these to make it worthwhile. Another option is to just take single positions in these trades and get out at the first profit target. That reduces the risk if the trade fails and perhaps lets me judge the reversal confirmations more quickly. I am not sure yet. I am just going to have to try some different things here. I am also going to reach out to some fellow traders to pick their brains and see if anyone has something that is working for them. Stay tunes.

My current recommendation:

Like I said at the beginning of this article, for additional details on a fully automated, set it and forget it, artificial intelligence currency trading program called RYZE.Ai from Hodo Global , watch the videos below.

RYZE.Ai and Hodo Global Videos

RYZE.Ai and Hodo Global Videos

Click here or on the Image Above for the RYZE.Ai videos.

Once again, if you have comments or questions, please leave then below or contact me.

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Sincerely,

Xin

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