Four Week Challenge – Round 4

July 6th – July 15th

We finished another 4 weeks . Although it was a very frustrating few weeks for me in terms of wave patterns being off the usual and staying focused after a long break , it still was a decent 4 week . I personally would have anticipated a much bigger result and most of the trades we missed the moves because of over night moves. The measure of success or failure of any trading methodology is not so much about the profits we make but how much are we keeping during the toughest market conditions. I can proudly say we are doing that hands down. Please send me your feed back as to what you would like to see changed. The much awaited additions of slightly longer time frame trading would be introduced from next week onwards. Please do not mix up the signals . Take them individually depending on your trading style. However please do not cherry pick the trades being sent out . take every trade call and follow it with discipline.

One word of caution on trades we take late in the day . Do not hold the positions if it is not turning out profitable and take even lesser profit if you are leaving the trading for the day . usually after 10 am Europe will be going out and things would change in forex markets, so pls be cautious.

July6th_July15th

 

June 30th – July 2nd

Well, not the best of the weeks . It has certainly been mentally challenging . We missed the move  down by few pips on 30th June and well that’s that ,  rest is history . That is how exactly some times stuff happen in life to, we miss the opportunity by a whisker and after that we lament and out of frustration we  end up loosing  and self destructing. I had those flashes , well almost had. I  set myself up for a big week but that expectation  which is a big no no in trading world is bites us in the butt  am glad we scraped through without  a loss.

GBP of late has been very  challenging in terms of patterns and  from a macro point of view the markets seem to be displaying the turmoil that society as a large is going through which is indecision, uncertainty, frustration, hopelessness, fear and lot of counter veiling forces seem to be at play . Let us step back and take a larger view and take it easy and  learn to patient day in and day out. Our Pay day will come and will come in a big way. Hang in there . Also keep in mind summer is here and hence dog days are here in the markets. We should taper our expectations and just be happy with whatever little market offers.

Jun30th-July2nd

June29th

Today the week started off on a good note with botht the early morning trades going well. However as you noticed the market is really constrained and hardly a 80 point range during our trading time?? thats  mean :-) . Hence the trades attempted later in the day were feeling as though we were preempting.  The price patterns always dictates the trades and some times out of experience and market timing i would attempt a counter trend trade but would quickly exit if it doesent work our way. I will keep you posted always. If you noticed, even by end of the da, market is being restrained. I still expect one last push higher on GBP before market turns around. This weeks news out of UK and the job numbers out of USA  are perfect recipe for that  and let us be alert and prepared

Jun29th

Week One – Jun 22nd-Jun 26th

We had a sort of challenging week. Me personally having been away from the market for some time found that patterns and timings have changed a bit. Moves were happening outside the normal window and to me those give conflicting signals and signal indecision in the market and lack of convitction.

All in all discipline to stick to our system is the only way to stay afloat.Have patince and clarity as to why we are here everyday. Sometimes i too find it hard to keep a level head but then we have to just take it easy and not trade when anxiety or frustration kicks in
I am expecting a resolution to this stale mate in the market during this week . Volatility is in store this week in light of news out of Britan and the job numbers frm USA. Volatility is good for traders , just be on the right side and if caught on the wrong side dont loose your shirt(I have lost mine many times before).

Dont worry about the GBP/JPY. It is only a test case i tried.

Take every trade. Dont cherry pick

Jun23rd-26th

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