Trading Diary Tuesday 15th Sept 09

Sorry for the major lack of updates. I have been training the new advanced Traders. Also presented and went through new strategies with Master trader Avi at the Bi-monthly event we have for the advanced traders. This took place at the Grovsenor hotel Victoria!

I will also be doing my first speaking event on the psychology of trading on the 26th of September. This is at an event from my property mentor Simon Zushi. So lots going on at the moment.

Since the last update the following week I lost 60 pips. Not a good start to September but up 30 pips last week as I have concentrated so much on the new strategy we are using. It looks very promising and I have been testing it on a demo account.

(New Forex Strategy)


It requires Meta trader and has many pivot points so I have been getting used to a new platform. The strategy is a forex breakout and now gives us two forex strategies to focus on. The beauty of this one is that it is less subjective. I shall be playing it live in the next two days after two weeks of intense testing.

I have found it has given me earlier entry points for my breakout strategy. I picked up 19 pips today with an entry of 16636 and got out after it broke the 50 level! I have given you an example of the meta trader chart and what happened to Pound/Dollar today!

I will start updating all my trades from tomorrow! Including the new forex strategy!

Strong Trading!

Trading Diary Aug 24th 09

Unlike Bob Geldof (Those too young to remember he was in a group called the boomtown rats with a song called I don't like Mondays) I do like Mondays.

It does go against the grain for forex trading as all the books I have read suggest this is not a good day to trade. In reviewing my Monday trades it has proved by far my most successful trading day.

Forex Breakout on pound dollar started moving early this morning and I was tempted to get in. I waited and noticed a drop in the candles around 6.50. This followed the earlier drop of the hour. It was heading towards the S1 pivot at a rapid amount of knots and I got in at 16491.7.

10 Min's later I was out of the trade with with 23 pips just below S2 pivot at 16468.8. I talked of resetting limit to 20 on Friday and forgot this morning. But had it in mind to get out with 20 pips!

As normal with trading I would have been taken out mechanically with 30 pips if I had waited another 2 mins. That's trading and 23 pips is a Nice start to the week!

FTSE

Still not playing this strategy too much at the moment, it yielded 20 pips this morning but charts looked strange and there was far too many pivots for my liking. Ftse does not play ball when they are close like that in my experience.

So naturally it broke the rules and gave 20 pips in 15 Min's....Interesting morning :)

The name of the game is 60 pips up this week....That's the target! So 40 pips to go....

To Your Trading Success!

Trading Diary Friday 21st August 09

Wealth mentor and author, Marcus De Maria, teaches the strategies that made him financially independent. He has taught thousands of people his brilliant, proven, yet simple strategies for wealth creation, stock market investing and forex trading. Free seminars available

Wow the weekend is here again, continued apologies on the lack of updates this week. I am still hampered by technical difficulties. So no charts unfortunately to show you entry and exit points. I have just taken 18pips on cable to end the week up by just over 25 pips. (Summary at end of post)

Not traded forex that much this week due to many different activity's. An example of this is below......I have uploaded some pictures of the Investment Mastery Golf day for the advanced traders. Joining us was Mark and Rob of progressive property and of course Marcus De Maria.

I was pleasantly surprised to find out that Marcus was actually very good at Golf! I have this perception that he's not really a sports person. With the amount of self development I have done its strange I still hold on to some of my old beliefs!

(Group shot of team with fellow skype traders Toj, Veronica, Brian and Adrian)

Oh did I mention I won the putting competition :)

(Check out my swing!)

Rob - progressive property Very good amateur!

Still got it!

OK enough indulgence and back to Forex trading, there was a pivot at 16436 this morning! It gave me a short trade of around 16410 on Pound Dollar. It failed to break the pivot significantly for a short. My entry was not that clear for the long trade, but a pattern had formed from

4 am with resistance around 16468.

I entered the trade around 7.55am at 16475 and exited at 16493.8 at around 8.06. Very risky as that is the same time of the ftse opening and can make cable move in completely opposite directions sometimes. But due to the way it had failed to break the earlier pivot I was confident that it would continue until 16500 before retraction.

Plus the fact that Bernanke was due to speak at 10, so I wanted to get in and out for some quick points before 8.30. The greed that I have been recently experiencing has left me only 25 pips up this week. I have taken some drastic action to correct this by resetting my limit to 20 instead of 30 and will get out at 15pips if I am close to any major pivot points or key numbers.

Also no second entry's! This cost me 30 pips on Thursday and reduced my winnings for the week. So I end the week with a clear reminder of why I took up trading and what has given me the strength to continue through the roller coaster ride of LOWS AND HIGHS!

I want to be finished by 10am and be on the golf course spending time with great people....Time is the most precious commodity to me and having control of mine is the ultimate goal....Besides 60 to 70% of business deals are done on the golf course! Enjoy the weather it doesn't happen too often in the UK!

To Your Trading Success!

Beginners Guide to Candle Sticks!

Here are two very simple guides to candle sticks and how they can develop a trade. I find price action as a very important aspect in trading. If you have traded before this may be too basic for you. But it never hurts to revisit earliear learning's!

To Your Trading Success!

Trading Diary Monday 17th August 09

Kindle: Amazon's 6" Wireless Reading Device (Latest Generation)

Having some major technical difficulties and can't put up the graphs showing my trades. Hence the lack of updates on my blog. I had a fantastic week but was thoroughly pissed off because I am now getting too greedy and I'm actually losing points for this reason.

Ended up 60 pips up last week but should easily have taken 120. I thought I had solved it but his morning I did the same. Got in early and took around 10 pips then got in again and took another 10 pips.

On the Second trade I had 20 pips and didn't take it. So whats going wrong? The major thing is I am not sticking to my exit strategy....I covered this a couple of months ago when I was not so consistent but have to keep reminding myself. The psychology of trading is so interesting!

Lose your focus for a bit and you slip back into old habits...I aim to write in this blog tomorrow of a clean trade of just 20 pips and no messing around with exit strategy's.

Should soon be doing my first public speaking event on trading. Very excited but its a good month away.... Will let you know how it goes

First Entry

Entry: 16398.1

Exit: 16389.4

Second Entry

Entry: 16370.1

Exit: 16360.3

I will give a brief summary of all my trades from last week Tomorrow. The super traders group is about to expand with three more joining myself Neville and Adrian. The mission is to create the biggest most successful trading group ever.

To Your Trading Success!

Fap Turbo Review - Automated Forex Trading!

The fourth generation and the best...If you really don't want to learn about the markets, candles sticks and doji. Or maybe you are an ill disciplined trader. Maybe you just don't have the stomach for it or the emotional control in the trades.

Fap Turbo will take all the pressure away....Leave and come back and it's done its Job. Much easier to set up and implement than previous robots and other automated systems.Watch the video below to see it in action! Then click on the link on the video!

Now so good it takes into account all the variables such as news announcements etc. Thoroughly tested and most people are on average making 19 to 40% and more on there portfolio.

Why not have this working for you building you cash while you play with minimum

money and learn? This way when you become good it's double your money time!

Easy Trading Success!

Trading Diary Friday 7th August 09

Thank Crunchie its Friday...... The week is coming to an end and I have finished up on pips for the 4th week in a row....Just! Saved today by actually trading the announcement (I know I said I wouldn't) But it made sense because they were being thrown everywhere with big moves and I felt it was an opportunity!

Non farm continued to make the market as I say "very interesting"! I took a calculated risk on a strategy we use for announcements and it paid off. But because my mind set was not to trade I was gripped with fear and missed 70 pips and more (So upset).

Cable dropped 150 pips and more in 10 Min's and I scalped 30 pips. The non farm announcement was better than anticipated which did not help the British pound! Trade is below....

(Fig:1)

Here's one for you to think about for the weekend! My friend Tojumul sent me a text on Friday morning. It said at 12hr 34 Min's and 56 seconds on the 7th of August this year the time and date will be 12.34:56 07/08/09 ....1 2 3 4 5 6 7 8 9.This will never happen in your life again!

This got me thinking about how many things will never happen in my life ever again! So many people waste and do not celebrate there time. Then finally get to the end and wish for so much more.

My trading journey is for this reason......My goal is financial freedom so I can do more with my life! I have no boss....Meet great people....Decide on what I want to do! If you want to change your mind set and move on with your dreams? Sign up for the free 45 minute wealth consultation!

It will be the best thing you have ever done in your life. If you are reading this blog then you have an interest in creating money which will ultimately support the life you desire....Don't wait, get on with it...You will never have this time again!

Have a fantastic weekend!