Category: General

After identifying the trend up or down, a safe way to enter a trade is to wait for the first horizontal continuation pattern of five minutes or more and simply do a stop order above it, if going long, or below it, if going short. Then set your initial stop loss at one and a half to twice the width of the pattern on the side opposite your order.

Livermore in “Reminiscences…” once said something like that: “admitting that I was wrong with my long automatically meant that I had a reason to short”. Maybe not exactly that (don’t remember exactly and lazy to search for an exact quote in a book ) but you got the idea.

P.S. Don’t open your full position initially.

Cad/Jpy does look like a short term sell around 104.50-70 areas.
It should find support arnd 103.40-50 areas …if this region is penetrated well we can see a move to 102.45-50 areas. Meantime these resistance (102.45-50) should eventually hold.

If you suspect that you may suffer in your trading style from Post-Traumatic Stress Disorder (PTSD), complete the self-test form, by printing the text out. Simply circle either yes or no in answer to the questions. Once completed, show the results to your Doctor.

Post Traumatic Disorder Self-Test

Yes No Have you experienced or witnessed a life-threatening event that caused intense fear, helplessness or horror?
Do you re-experience the event in at least one of the following ways?
Yes No Repeated, distressing memories and/or dreams?
Yes No Acting or feeling as if the event was happening again? (flashbacks or re-living it).
Yes No Intense physical and/or emotional distress when you are exposed to things that remind you of the event?
Yes No Do you avoid reminders of the event and feel numb, compared to the way you felt before?
Yes No Do you avoid thoughts, feelings and conversations about the event?
Yes No Do you avoid activities, places or people who remind you of it?
Yes No Have you blanked on parts of the detail?
Yes No Are you losing interest in significant activities in your life?
Yes No Are you feeling detached from other people?
Yes No Do you feel as if your range of emotions is restricted?
Yes No Do you feel as if your future is diminished in terms of marriage, children or a normal life span?

Are you troubled by two or more of the following:
Yes No Problems sleeping?
Yes No Irritability or outbursts of anger?
Yes No Problems concentrating?
Yes No Feeling ‘on-guard’?
Yes No An exaggerated startle response?

Having more than one illness at the same time can make it difficult to diagnose and treat the different conditions. Illness that sometimes complicate an anxiety disorder include depression and substance abuse. With this in mind, please take a moment to answer the following:

Yes No Have you experienced changes in sleeping or eating habits?

More days than not, do you feel:
Yes No Sad or Depressed?
Yes No Disinterested in life?
Yes No Worthless or guilty?

During the last year, has the use of alcohol or drugs:
Yes No Resulted in your failure to fulfill responsibilities with work, school or family?
Yes No Placed you in a dangerous situation, such as driving a car under the influence?
Yes No Been responsible for you being arrested?
Yes No Continued despite causing problems for you and your loved ones?

Reference: Diagnostic and Statistical Manual of Mental Disorders, Fourth Edition, Washington DC, American Psychiatric Association.

Also i feel that traders should look into the nutritional deficiencies in the industrialized world along with whatever else they are doing for their PTSD. Omega oils, hyaluronic acid, collagen, phosphatydlyserine are largely gone from the diet and they are all brain nutrients. Load up on those, you will notice differences in just days and over a few months you will be a lot better off. The PTSD thing is way magnified if your brain is not healthy IMO.

Do you trade to:

make money or
to make maximum profit?

Interesting.
After a lot of discussions about this topic my friends answered, its 2:1 in favor of making money vs. maximizing profit. I think the responses reveal a mental status not oriented to win by default.

So, who will explain all the fierce discussions regarding “superior” trading styles or techniques, as well as the self-deprecating topics about leaving money on the table, getting stopped out, etc?

Of course to answer that question you need to understand the subtle difference between making money and maximizing profit!

My guess, many traders are not being honest with themselves…

As a trader I think that Fair value for the Euro is 1.15/1.20!
We been under value at 0.82 on October, 2001, and now over value at 1.60. the balance line is 1.17.

That’s make the euro over value by 25% against the dollar. While the dollar at fair value against most asia ccys.

Asian currencies have been falling vs EUR with market focused on fall in USD past 6-9 months. While USD has fallen vs both G10, emerging market currencies, EUR has absorbed a very large part of USD decline. Since start of turmoil in July 2007, EUR has risen about 14%. Asian currencies have fallen on average about 10% vs EUR; even “strong” Asian performers like SGD, MYR, TWD, CNY have fallen more than 5% vs EUR on average, though fundamental backdrop for these currencies is stronger than that for EUR. Notes a fair few Asian currencies are managed; while officials are willing to tolerate more gains to combat inflation they “are still not allowing for fast and volatile moves.” Also, EUR often considered safe and very liquid proxy to trade USD decline story. If anything, EUR gains vs Asian FX have led to “more pronounced fundamental imbalances between Asia and Europe”; Asian currencies very undervalued vs EUR: By about 25% according to its valuation framework. Asia also has more favourable external position than Euroland with less reliance on trade to U.S. last few years. Inflation is on rise in Asia, triggering need for tighter monetary policy. Has long TWD vs basket of 50% EUR and 50%.
Goldman Sachs

Whether you are just starting out or have recently experienced a major loss, Forex trading fears can strike the best of us. While it is healthy to reserve some caution when making any kind of investment, true fear can cause you to pass up some lucrative moneymaking opportunities. Below are five ways to overcome your fright and become a zen-like Forex master.

Don’t Stop Trading
The best way to fight your fears is to face them and investing is no different. The longer you wait before you trade again, the harder it is to get back in the saddle.

Start Small
If you are hesitant about risking your money on a big trade, then you need to take baby steps. Trade small in micro lots until you feel a little more comfortable, and then move onto larger investments.

Always Trade With a Stop.
This is practical advice and will keep you from losing any more than you are comfortable with. Granted, no one wants to lose any money, but you can set your daily limit with a stop.

Back Up Every Move With Research
You should be trading with a strategy rather than using your emotions to make decisions. Although sticking to a strategy may not guarantee you money, it will increase your odds of earning a profit and restore your confidence.

Accept the Inevitability of Loss
Whether you are trading as a hobby or a profession, you will eventually lose money. Nothing is certain in the Forex market and there aren\’t any secrets to exploit for your advantage. Therefore, you need to accept the fact that every winning streak will come to an end.

Unless you adopt a more stoic approach to your trading, you will be wrought with anxiety. If Forex trading is truly that agonizing for you, even after heeding the above advice, then perhaps it is time to find a new way to invest your money. However, most bouts of Forex fear are temporary and due to inexperience or a recent loss. By staying diligent and sensible with your trades, you should be back to a healthy state of mind in no time.

By-line:
Heather Johnson is a freelance finance and economics writer, as well as a regular contributor for CurrencyTrading.net, a site for currency trading and forex trading information. Heather welcomes comments and freelancing job inquiries at her email address heatherjohnson2323@gmail.com

Trading forex can give you wealth beyond your imagination…
Just look around you…
Don’t give up

…riches are just around the corner…
…keep on fighting…
…until your last fricken breath you take…
…first you gotta believe it…
…then imagine it…
…then put it into action…
…place greed first…
…I simply adore all of you…

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