I try not to talk too much about specific trades I make because I think it's pretty boring to read.  I've come to this conclusion reading other people talk about technical analysis.  But I try to give a shout out once or twice a week to let everyone know that I am trading which is what this update is about. 

This week I am trading very cautiously.  This wasn't necessarily my choice only, it was my systems choice as well.   The H-system has been out of the market all week and hasn't generated a signal since last Friday.  This doesn't mean that I go to sleep because I do still trade on discretion.  This week still has been very slow.  I profited 21 pips Monday on my newest system that is supposed to be in forward testing.  Today I profited 30 pips semi-trading the news this morning.  It was a bit of intuition but I had a pretty good indication that the GBP was going to decline which it did.  I'm just disappointed that my 1 lot trade was up 60 pips and I only wound up getting half that.  

The difference now with my discretionary trading is that I'm not looking at six other currency pairs and 5 different time frames each.  I am only looking at the shorter time frame GBP/USD charts.  That's it.  Like I've said before, if you are new to trading Forex, I would recommend concentrating on only one pair.

I'm currently up 129 pips this month in an attempt to end 4 straight months with a profit.  Whereas before I saw this as a virtually impossibility, I'm starting to think that it's totally possible and I almost expect it of myself.   We'll see how it goes though because I still realize how difficult trading is.   I'm certainly not overconfident which I think is a good thing because I think having overconfidence is a really bad thing.  

The greatest emotional problem facing traders