Just closed out my GBP/AUD trades for a significant loss...my Forex account is now only up 49% since Jan 8...BUT watch carefully, because we will be at 55% before we know it. The lesson? Never be in a trade when something is occurring in the real world and related to that trade i.e. NON-CHART RELATED.
That is the reason for this latest loss. Even the best traders in the world say 65% winning to losing trades is EXTREMELY acceptable...in other words, you're always going to have losing trades. But this trade was just dumb...and done on a hunch...and totally against everything I've learned in 25 years of trading.
So watch carefully...starting today...everything is chart-related. I will talk fundamentally, but ONLY as a tertiary indicator.
Here is my statement...still holding Gold and the EURO/US trades, the latter being left over from yesterday's fundamental days...however, the charts show a big retracement here.
Posts
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