Learn To Trade Forex – Pep Talk For Beginners

There are literally “too many trade opportunities” for me to go over / list at present in that I am extremely busy managing all this.

If you can imagine how patient we’ve been with nearly the entire month of January passing, and “nary a trade” – this is really what trading forex is all about. You’ve got to hit it when the opportunity presents itself. The patience required is enough to drive a person mad “until” you’ve come to recognize market dynamics and movement over a considerable period of time.

I’d argue that I’ve not caught a decent “sustained and reliable trend” since the massive depreciation of the Japanese Yen a year ago, as trading has been extremely tough, choppy and directionless for months.

You slug it out, you keep your positions smaller, you take profits faster. You learn to take your foot of the gas in the corners, and then “hit it” in the straight aways.

It’s a skill sure, but as with anything – if you want to get good at something you have to stick with it. Even if you aren’t “actually trading” pulling up the charts day after day, studying the price action, watching for recognizable signs of reversal etc…It will come – but with a considerable learning curve.

Shit…even me – here over the past 24 hours, jumping around, banging my head against the wall cuz I jumped out / took profits too soon. Then back at the computer to “grind out” re-entry that may not be the best. Laying half awake with freakin “japanese candle sticks dancing round my head” wondering if I should plan to get up “another hour earlier” to make sure I’m in the trade.

I make mistakes too! But you have to stick with it. You have to get past the “mystery” and stay in the game long enough to see things more clearly.

And you can’t catch them all. Man……I’ll trade up to 15 pairs on a given move and still see massive trades pass me by! You’ve just got to “catch what you can” and only take on as much as you can handle.

Anyways, I’m back at it – and I hope at least a couple of you will consider what I’ve said. Go easy, take your time, study the fundamentals and trade smaller!!

Face_Book_Promo

Face_Book_Promo

I took another 3% profits and just as well may kick myself in the ass for not just hanging in but….these days I don’t really roll that way. Considering like 7% ¬†practically overnight and I think another 7% over the past week – It’s been 90% sitting in cash and 10% market exposure so…the Kongdicator tune up has been an improvement, and we “might” be into a larger move here.

Ill keep taking the money and running as you know how markets are these days – I’m certainly not going to suggest “investing”.

5 Responses

  1. Power Corrupts January 24, 2014 / 7:03 am

    Kong! The markets are a lifetime passion if you are wired that way! Nothing like the rush from getting a trade right! It’s not really about the money either (not denying that helps)…

  2. JSkogs January 24, 2014 / 7:07 am

    Beauty move. I’m going to close up the remaining rats n mice. If this gap down doesn’t get bought I’ll be happily surprised. Have a great weekend, Kong!

  3. $tuart January 24, 2014 / 7:18 pm

    What a way to end the week – I’ve had a great year this week….:-)

  4. $tuart January 24, 2014 / 7:21 pm

    And its FOMC next week…….that should be fun.

    • Pot Stock Watch January 24, 2014 / 8:02 pm

      Pull the taper and double QE so soooooooon??

      He he he…indulge me people! I love stirring this up!

      It will be very interesting, as I hope markets cram stocks down their throat moving into the meeting, but will need to be wary.

      They “very well could” pull a fast one…as the credibility is already shot.

Leave a Reply

Your email address will not be published. Required fields are marked *