This article contains some history of my individual trading experiences. If you would like to profit from currency trading I recommend that you subscribe to the RYZE.Ai artificial intelligence autotrader from Hodo Global. This fully automatic, hands free trading system has produced consistently excellent performance. While past performance does not guarantee future returns, I have found it is an excellent program. RYZE.Ai also provides individuals the opportunity to participate in trading strategies that are not available to the usual trader including being a bridge liquidity provider and doing high frequency trading. For more details on RYZE.Ai see my detailed article, attend a Thursday webinar and watch the overview videos.
A new week, which here in Albuquerque, New Mexico sees the Forex Market open on Sunday afternoon which is Monday morning in Sydney, Australia. It is time for me to begin my chess game in the world or currency trading. Armed with my wits I will venture forth and trade!
Evening Sunday 5/1/2016
Signal: Silver / US Dollar (XGUSD)
Once again I did one 2X position and one regular position on Silver. I got in over halfway to the first profit target so I set my exit points at the second and third profit targets. The second profit target was hit very quickly and I am hoping the third will be as well
Result: A little later it ht the third profit target, giving me yet another great Silver trade.
Somebody pinch me, I just can’t believe how well Silver trades are working out for me.
Morning Friday 5/2/2016
I overslept a little and did not get any screenshots in the morning before leaving the house.
Evening Friday 5/2/2016
Signal: Silver / US Dollar (XAGUSD)
I was conservative and took one position on this trade. On this Daily chart the stop loss and the profit targets are quite large, so I took a small position as a result. If you recall I had started to take three positions on Silver, but in this case I am limiting it to one.
Signal: Australian Dollar / Canadian Dollar (AUDCAD) Harmonic Bat Pattern
I took one positions in this trade, which seems to be working out nicely so far. I have moved my stop to break-even on this trade. I only took one due to the large stop loss and profit target, similar to the silver trade above. My motto is to be conservative.
Signal: US Dollar Japanese Yen (USDJPY) Harmonic Bat Pattern
I took two positions in this trade but I don’t like the price movement so far. I exited one position at a tiny profit and will let the other one continue for the moment.
Signal: EURO / British Pound (EURGBP)
I took two positions on this trade. I am very close to hitting the first profit target. This trade is shaping up nicely.
Signal: EURO / US Dollar (EURUSD)
I have taken two positions in this trade. The price has pulled back and I am a little worried about this trade.
Signal: British Pound / Canadian Dollar (GBPCAD)
This moved too fast. I did not react fast enough to take a position. I didn’t do anything wrong, just the price moved too fast.
Today’s Geography Lesson: Popejoy Concert Hall- University of New Mexico
Today we went and saw the University of New Mexico Wind Symphony perform a concert with a group called the Boston Brass. They were jointly recording a CD, so they had a concert. It was very nice.
Silver from the mine was used widely for coins in Japan. It was contested fiercely by warlords until the Tokugawa Shogunate won control of it in 1600 as a result of the Battle of Sekigahara in 1600. It was later secured by fences and barricaded by pine trees. Yamabuki Castle was built in the center of the mining complex.”
PopeJoy Concert Hall
Lessons Learned 1: Go with your strength. Once something is working for you and you have become comfortable with your trading it is okay to trade a little larger. You can see where I have done this with Silver in some cases. Silver trades have been highly accurate, so I have adjusted my position size as a result.
Lessons Learned 2: Be conservative. Live to trade another day is a rule to live by. If the risk on a position is higher than normal due to a large stop loss and large profit targets, then trade smaller than normal to offset the increased risk. Do not over trade or take on too much risk. This is the mistake that kills most traders.
Another great day. More great Silver trades. Yesterday I said I was going to get a dog and same it Silver. My son has been dying to get a pug, so who knows, maybe I may just get one if he agrees to name it Silver!
As always, for more information on Hodo Global and the artificial intelligence autotrader RYZE.Ai, attend the Thursday evening webinar, email me at email@example.com and watch the videos below.
As I say every day, if you have questions, comments or suggestions, please leave them in the comments section below or feel free contact me.