Today I entered into yet another Silver trade, so I thought I would include some information on Silver and intersperse it throughout the article. So, read on for more information about silver and today’s exciting trading.
To recap, my daily trading reports are where I document my independent trading activities where I, armed only with my wits and my Harmonic Scanner,dive into the world of Forex trading. Will today be a day of glorious victories of crushing defeats? Only time will tell, so read on and discover the ending for yourself.
People who are regular readers of my Xin’s Trading Adventures articles and are interested in the profit potential of currency trading but don’t have the knowledge or the time to trade currencies as I do, don’t think you are out of luck. There is a wonderful system called RYZE.Ai by Hodo Global. This fully automatic artificial intelligence algorithm, which I really like, generates consistent profits, week after week. For more details, please watch the overview videos, read more of my detailed articles, attend a Thursday evening webinar or send me an email and set up a time to talk personally.
Now back to my personal trading:
Morning Wednesday 4/13/2016
Signal: US Dollar / Swiss Franc (USDCHF)
This trade looked like it was going to be a true reversal. I entered two positions. I have done well with Swiss Franc trades in the past, so I am really looking forward to seeing how this trade develops.
Signal: Australian Dollar / New Zealand Dollar (AUDNZD)
I entered this trade with two positions right below the first profit target. It quickly hit the second and third profit targets, giving me a couple of quick small profits. Two profits by the time I got out of the shower. A really good way to start the day!
Signal: US Tech 100 Cash Market
This was the first time I entered a trade on this market. I only took one position.
Result: In hindsight, I don’t know why I traded a new market and took a signal above the maximum entry point. Pretty darn dumb. I was quickly stopped out. The only positive was that the stop loss was closer due to where I entered. Dumb, dumb, dumb! If anyone wants to send me a dunce hat, I will wear it. (and post a picture or me wearing it)
Signal: Australian Dollar / US Dollar (AUDUSD)
I really like how this trade is setting up. I entered only one position because the stop loss and target profits are larger than usual due to this being a four hour chart.
Evening Wednesday 4/13/2016
Signal: Australian Dollar / US Dollar (AUDUSD)
My AUDUSD trade from this morning hit it’s profit target for a nice winner. Now I have a signal in the other direction which I entered for only one position because I got in late, close to the first profit target. Probably done in by my nightly yoga session. Anyway, it hit the second profit target soon afterwards and I was out with a profit.
Signal: Euro / US Dollar (EURUSD)
I missed this trade. It was over before I got home and looked at my computer this afternoon. I only include it because was a good signal and one someone in front of their computer could have profited by.
Signal: Euro / Australian Dollar (EURAUD)
I got into this one for one position about halfway to profit target one. I only entered one position due to where I got in. I had a small profit in only a few minutes.
Signal: Silver / US Dollar (XAGUSD)
I just love silver trades. This one hit profit targets one and two in short order. Woo Hoo!
Geography Lesson: The Comstock Mine
Since I have been so enthusiastic about silver trades, I thought some silver history and geography is in order.
According to Wikipedia, “The Comstock Lode is a lode of silver ore located under the eastern slope of Mount Davidson, a peak in the Virginia Range in Nevada (then western Utah Territory). It was the first major discovery of silver ore in the United States.
The Comstock Lode is notable not just for the immense fortunes it generated and the large role those fortunes had in the growth of Nevada and San Francisco, but also for the advances in mining technology that it spurred, such as square set timbering and the Washoe process for extracting silver from ore.
The total product of ore extracted and milled in the Comstock District, 1860 to June 30, 1880, was 6,971,641 tons, 640 pounds. Peak production from the Comstock occurred in 1877, with the mines producing over $14,000,000 of gold and $21,000,000 of silver that year (about $311,106,250 and $466,659,375 today).”
Today’s Geography Lesson:
Comstock Mine, Nevada
Lessons Learned 1: Watch your entry points. Today I entered a trade above the maximum entry point and quickly got stopped out. I have no explanation why I did this. It didn’t even register that I was doing so. Perhaps I was distracted since this was the first time I had traded this index, but it was still a dumb mistake.
Lessons Learned 2: Don’t do yoga. Just kidding about this one. Yoga clears my mind and exercise helps you de-stress and will actually help you trade better, I believe. I missed a trade during yoga, but there are always more trades….
Some good trades today and and a couple of losses as well. One came from a dumb mistake, which I will try not to duplicate.
People who want the profit potential but don’t want to learn currency trading see below.
As I said previously, for additional information on a fully automated, set it and forget it, artificial intelligence currency trading algorithm called RYZE.Ai from Hodo Global , watch out the videos below.
Once again, if you have comments or questions, please leave then below or contact me.
Hoping someone sends me the hat!