Week 17 Performances
April 16, 2006 by Trader Rich
I jumped back into the market this past week and made 2 losing trades. I lost a total of $539.50. It seems like the losing will never end. I'm not discouraged and I'm looking forward to another trading week. The weather has been beautiful in New York this weekend so I've been outside and will try to remain outside for the remainder of it. I'll try to do a little studying this evening for potential setups during the Asian session today or the US session in the morning.
I figure this may be a good time to mention a new website I'm developing to complement "The Forex Project." The new site is called Forex Care and it will consist of ratings and reviews of all Forex products. There are no reviews as of yet but I'm just starting to get organized and hopeful will complete 1 in the next couple of days. I don't want to just start adding reviews quickly without being as thorough as possible. I've found out for myself and have heard from some of you that it is so hard to find forex related products (websites, books, trading signals, software, etc) that aren't just flat out garbage. Here's my first post of http://www.forexcare.com that explains a little more.
What is this website all about?
Quite
simply, I've seen for myself and have also heard from many visitors how
hard it is to disseminate useful forex information on the web from just
plain garbage. This is the big reason for starting the Forex Care
website. What this website will attempt to do is provide a repository
of Forex Ratings and Reviews of the following:
- Forex Brokers
- Forex Software
- Forex Trading Rooms
- Forex Signal Services
- Forex Books and Magazines
- Forex Websites
These are the main categories that come to mind but I'm sure there will be many more added in the upcoming months.
Who performs these reviews?
Me and hopefully others in the future.
Why are you qualified to perform this?
There are a couple of reasons.
- I'm
relatively new to Forex and have been trading Forex for about 6
months. This means that I'm still in the exploration phase and
therefore will be exposed to many forex products. - I run another website called, The Forex Project and doing so exposes me to a lot of your comments and recommendations.
- Because I am going to take the time to effort to perform the ratings and reviews without prejudice.
I'm
hoping that I can start to build a ratings and reviews inventory pretty
quickly. Keep your eye on this website for new content daily.
Popularity: 2%
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Sounds like an adventure….
Hopefully a $$$$ one.
I’m also a new trader to the 4X and have already been taken for a ride, already, and I will not get burnt again “There is no Hoy Grail”:clown:
Just good commen sense…and good understanding of charts
Let me know if you want any help…
Thanks
Tim B)
Thanks Tim. Just wondering what your trading strategy is?
intraday like to use the 15 min charts to 60,120,1 day. Trending I guess with break out statigies, with Fibs and S/R levels, by the way how’s the squeeze doing? oh the java script for the auto fill on email something wrong keep getting error mesg or is it me?
What happened with your USD/JPY trade? it did come back but you must have made something off the initial drop right?
Hey Craig. I got stopped out, barely. I placed a 30 pip stop (about 2% of my total capital.) I’m thinking more about money management and may adjust not use a hard 2% limit especially if their is support or resistance close to my stop….
Bummer, I assume you got stopped by that spike up to 118.85+. Dunno what your rational on timing of the open ing of the trade was, but I would have waited till the break down was really on the go. Timing is everything it would seem, if you wait till the trend is really established then getting stopped becomes less of a issue (as the price is activly moving away from the stop). That was a tough one though as there were a couple of false breaks leading upto the real break.
great idea! I enjoy your site and stop in whenever I can to see any updates. I’m sure your new site will be as equally interesting and useful. thanks!