The first step on the path to profitability is knowing when not to trade. It’s not usually any trader’s first step either. Knowing when not to trade means you have a Watchlist and it’s only when that list is offering setups do you even think about putting your capital at risk.
With that in mind…
I have the AUD in my sights. It’s still a strength story for me and I am focused on the AUD/JPY for now. I will hold off on the AUD/NZD story until Wednesday and the RBNZ Hot Zone.
In the meanwhile, we are still managing the current winners in the CAD/JPY, AUD/JPY, and AUD/NZD. I am becoming increasingly opportunistic on the GBP strength story as well…I am ready to buy the GBP/JPY and GBP/NZD – they’re on the top of my list.
The markets are starting to offer steady set ups, entries, and winners but over the past 90-days it has been some rocky terrain to navigate. This video is a frank and open conversation about that.
This conversation is not a trading psychology discussion (although I do share some of my tools for getting into a focused mindset)
This conversation is not about a series of winning trades I am making a victory lap over (in fact I share why I had a six losing trades in a short amount of time – the most in over two years for me)
This conversation DOES walk you through the trend transitions of the past 90-days and explains why trend trading longer time frames stopped working and why I stayed flat for about two weeks before putting that strategy back to work!
Questions? Comments. Leave them here at the blog!
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