When Not To Trade….

Whatever type of Trader you are, there are some periods or points in your life when it probably isn’t in your best interest to trade and I’m not referring to unpredictable economic events such as FOMC and NFP etc or non-favoured days of the week or month.

Profitable trading nearly always relies on thorough market analysis and timing and being in the right mind set, rested, fit and alert to all the possibilities and prepared to have the courage of your own conviction to take the trades that you see.

Over the years I have learnt that there are definitely times in your life when it isn’t in your own interest to be trading and that isn’t just the likely unprofitable outcome but also in terms of one’s relationships and mind set.

Such events are:

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Currency Trading is all about .. Timing!

Today I entered a trade a little too early and currently have a small drawdown, but not to worry as I have stop losses in place to protect my trading capital.  But if you think about it, trading is quite like Comedy, it’s all or mostly about timing.  When a comedian tells a joke, even if it’s a mediocre one, they can still make people laugh if the delivery is timed correctly.  Similarly the difference between a losing trade and a winning trade can be getting the time of one’s entry correct.  Continue reading

Getting In Tune or ‘In The Zone’

Just over 4 weeks ago I went down with a bad bout of Flu, which meant I wasn’t trading and lost touch with the Forex markets.  So I then had to get back in tune with with the markets before attempting to trade again.  You may have heard of the term ‘Getting in the Zone’, well this takes a period of time to achieve.  So this is what I did: Continue reading