Goldmine!

Hello Traders,

Will resume the journal in about a couple of weeks or so. Have not been able to focus at all as I have too much on my plate at the moment. Most of my trades have been late or on an impulse, without proper analysis. Kept trying to trade but to no avail. I will keep the same account etc. I just need to clear my schedule so I won't be doing too many things at once.

Outcome of Performance Journal: Phase I, will be posted on the blog on Saturday.

Take care,

FX4Newbies
 
There is a movie I suggest that every trader take a look at and internalize as much as possible. It is called K-19; The Widowmaker starring Harrison Ford and Liam Neeson. This movie is not about trading at all, BUT, if a trader views it with the market and its dynamics in mind from the very beginning, they can come away with so much understanding about this business, it will be amazing!!!

I hope some of you will take me up on this, and, if you do, let me know how it impacted you. Be sure to listen attentively to everything being said, and by whom. Observe mannerisms as well. Imagine being taught to trade and having a movie-watching session...something I did for new traders some years ago.

Take care,

FX4
 

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Hello Traders,

Below is the usual Eur-Usd chart. EU did fall and made the ML target of red fork. Now what? It is hanging at an internal Fib line waiting for news. It is a toss up, but with the force with which it blew through the ML it could end up lower...just don't know the scenic route because of news and NFP at that.

Don't forget to watch the movie...through the eyes of the market and a trader. Think you will learn alot.

Take care,

FX4Newbies
 

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Quote from FX4Newbies:

Hello Traders,

Below is the usual Eur-Usd chart. EU did fall and made the ML target of red fork. Now what? It is hanging at an internal Fib line waiting for news. It is a toss up, but with the force with which it blew through the ML it could end up lower...just don't know the scenic route because of news and NFP at that.

Don't forget to watch the movie...through the eyes of the market and a trader. Think you will learn alot. I believe it is based on a true story.

Take care,

FX4Newbies
More...

Well...

Price did take the scenic route but ended lower. Two EU charts here...the continuation of the one posted earlier today and also the one from the blog on Saturday.

Take care. Hope you were not washed and rinsed.

FX4Newbies
 

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Hello Traders,

Just letting you know that the Weekly Wrap-Up Charts are now available on the blog.

Enjoy the rest of your weekend.

FX4Newbies
 
Hello Traders,

Here is an updated EU chart. Price could be looking to fall again but showing some upward strength. Beware as price took out some lows, then took out some highs: a mixed message. Was the low at a P5? Could it be trying to go higher? Hmm... Just another thought to add to the mix.

Take care,

FX4Newbies
 

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Hello Traders,

The bears have been trying to knock this one (EU) down for about four hours only to wake up some bulls who pushed the price back up...though not all the way. The war is on.

Bernanke to testify later this morning. Alot could change.

Take care,

FX4Newbies
 

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