People who are regular readers of my Xin’s Trading Adventures articles and are interested in the learning more about the profit potential of trading currencies but don’t have the knowledge or the desire to trade currencies by yourself, don’t think you are out of luck. There is a great program called RYZE.Ai by Hodo Global. I can show you this fully automatic artificial intelligence algorithm, which I really like and generates steady 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:
Today was a slow Friday for trading. There were a few morning trades but no carryover trades from Thursday and no trades that will be open over the weekend.
As my regular readers already know, my daily trading reports are where I document my independent trading activities where I use my Harmonic Scanner to foray into the Forex trading world. Some days I have great success, other days losses. Hopefully the successes outweigh the losses leaving me with profits. What did today bring? See below to find out.
Morning Thursday 4/15/2016
Signal: US Dollar / Canadian Dollar (USDCAD)
This looks like a nice reversal is being set up. I took two positions on this trade.
Signal: Australian Dollar / New Zealand Dollar (AUDNZD)
This one may have tricked me. I am tempted to get out of the trade, but at this point will just trust my stops and see what happens. When I entered the trade one of the red candlestick bars was green. It subsequently reversed direction on me. I am worried about this one.
Signal: EURO / US Dollar (EURUSD)
Evening Friday 4/15/2016
Results: US Dollar / Canadian Dollar (USDCAD)
This was a very nice trade. It hit both profit targets during the morning after I left. A very nice way to start the day. I forgot to get screenshots in the afternoon, so I am showing modified versions of the morning charts.
US Dollar / Canadian Dollar (USDCAD) Harmonic Shark Pattern
My worries about this trade were well founded. It stopped me out on both positions. The stop loss was pretty tight on this trade so the losses weren’t very large. Once again I didn’t get an afternoon screenshot. I forgot all about it.
Euro / US Dollar EURUSD) Harmonic Crab Pattern
This trade hit all three profit targets. I had only two positions, but it was still a nice trade.
Today’s Geography Lesson: Christchurch, New Zealand
I don’t think I have shown New Zealand on any of my geography lessons before, so today is a good day to do so since one of my trades involved the New Zealand dollar. New Zealand is one place we want to visit. From everything I have seen, it is spectacularly beautiful. The Hobbit and the Lord of the Rings movies were filmed there. We want to see the Hobbit town set when we go and the other sites where filming took place. A family of geeks, that is us.
Christchurch, New Zealand
Lessons Learned 1: Wait for confirmation. I don’t think I did anything wrong today. It is always a balance on trades with smaller profit targets to get a proper confirmation without missing the move. Today was just one of those that the trade went the wrong way.
Lessons Learned 2: Don’t overtrade. There were a couple of trades in the morning that were marginal and I wisely avoided them. It is easy to fall into the trap of taking marginal trades to be active, which is a mistake I have made numerous times. Hopefully, I am getting better at restraining myself.
Trading closed early Friday afternoon in our time zone. Kind of a slow day as a result. Holding no positions over the weekend.
Just like usual, if you have questions, comments or suggestions, please leave then below or contact me.