This article contains a day of my personal trading experiences. I hope you find it interesting. It illustrates the difficultie
s of trading currencies on your own.
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Anyone who reads my posts and have decided that you want more specifics on RYZE.Ai, please see my other articles and watch the videos at the bottom of this page, attend a Thursday evening webinar and contact me and set up a time to talk.
Note: I do not recommend trying to trade on your own unless you are a very knowledgeable and experience trader.
A busy day today. Lots of signals, a number of trades, some good profits. What more could I ask for?
Morning Tuesday 5/10/2016
Signal: Euro / US Dollar (EURUSD)
This looks like it would have been a nice little trade,but the signal came at 3:45 AM or about an hour before I got up. So, missed this one.
Evening Tuesday 5/10/2016
Signal: US Dollar/ Swiss Franc (USDCHF)
If you remember I entered this trade yesterday evening and it hit the first profit target last night. It hit the second profit target over night giving me an excellent trade.
Signal: Australian Dollar / US Dollar (AUDUSD) Harmonic Shark Pattern
Result: Euro / Canadian Dollar (EURCAD)
I entered this trade with two positions and quickly got stopped out for losses. I guess I was just so involved in trading I forgot screenshots.
Result: British Pound / US Dollar (GBPUSD)
I entered a couple of trades this afternoon, this being one of them. For some reason I didn’t get screenshots. I only got in one position unfortunately because it moved upwards too fast, but I did get a partial profit at the first profit target.
Result: Euro / US Dollar (EURUSD)
I entered this trade this afternoon.It looked like it wasn’t going anywhere for a while but later there was a nice move upward and it hit both profit targets. At one point I really thought I was going to get stopped out on this one.
Today’s Geography Lesson:Zurich, Switzerland
From Wikipedia; “Zürich is the largest city in Switzerland and the capital of the canton of Zürich. It is located in north-central Switzerland at the northwestern tip of Lake Zürich. The municipality has approximately 400,000 inhabitants, and the Zurich metropolitan area 1.83 million. Zürich is a hub for railways, roads, and air traffic. Both Zürich Airport and railway station are the largest and busiest in the country.
Permanently settled for around 2000 years, Zürich has a history that goes back to its founding by the Romans, who, in 15 BC, called it Turicum. However, early settlements have been found dating back more than 6400 years ago.
The official language of Zürich is (the Swiss variety of Standard) German, but the main spoken language is the local variant of the Alemannic Swiss German dialect.
Zürich is a leading global city and among the world’s largest financial centres despite a relatively low population. The city is home to a large number of financial institutions and banking giants. Most of Switzerland’s research and development centres are concentrated in Zürich and the low tax rates attract overseas companies to set up their headquarters there.
Monocle’s 2012 “Quality of Life Survey” ranked Zürich first on a list of the top 25 cities in the world “to make a base within”. According to several surveys from 2006 to 2008, Zürich was named the city with the best quality of life in the world as well as the wealthiest city in Europe.
Lessons Learned 1: Trade small. Most people think about how much they can make on trades and they trade too large positions and end up getting hurt really badly on the inevitable bad day. Traders who last for years always think about how much they can loose and don’t take on too much risk.
Lessons Learned 2: Don’t get over confident. When things go well, people have a tendency to start to gamble. That is take on marginal trades and trade too many positions at one time. This is very dangerous. It can burn you if you don’t guard against this.
If you are a regular reader you know I like to intertwine some geography and history into my posts. If you are a new reader, I hope you enjoy this as well.
On the trading front, today was another busy day. I had some good trades and a couple of losses. Losses are inevitable. As a trader I like the days when there are none or few but everyone needs to be aware there will be times when there are may losses in a day. You will have bad days, you will occasionally have bad weeks. You must prepare yourself mentally and keep your trade size small so that the losses are manageable.
If anyone has questions, comments or feedback, leave them in the comments area below or contact me.