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 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 on the blog!
Follow Raghee Horner (aka Queen Cleopiptra) into her kingdom of forex and futures. Get the best techniques and tactics for trading currencies, futures, and options.
This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.