What a week it was.
Keeping all my fellow traders safe was my objective ..so Mission accomplished ?(Pun intended).. well i am not Bush to declare that 
so no i wont go there
First i have found it to be a new experince and challenge to send the calls in time so others can trade and still take the trades myself in time. It was more tricky than i anticipated but i am committed to protecting everyone who is following these signals so i will adapt. I will improvise .
As to how we did , we made a tiny profit on the calls made. Let us say we achieved one thing , we stayed safe we maintained our account intact . That is really something considering that the market saw one of the most volatile weeks due to all the Big news driving up traders anxiety . We had the Eur and GBP Rate decisions ofcourse there were lot of other central banks also announcing their rate decisions like NZ , Thai mong others . Then we had the Big one, the JOBS numbers from USA and oh boy the worst number since 1974, my symapthies to all those 530,ooo households who lost their incomes and are now scrambling to figure out what future holds for them and my heart goes out to those and wish they find the strength and spirit to rise to the challenge , bless them !
Now to the trade alerts i sent out over the week . We could excecute on 3 of those ,of which 2 were losses(-80) and third suqared those losses and made a teeny 20 point profit(+100) . We missed entry on 2 other calls made by 10 pips , exited one early to be on the safe side only to see the trade would have made 100 plus points if we didnt err on the side of caution(but i am always going to ensure we are safe). Let me explain my objectives and approach. First my objective is to make sure we dont loose money trading outside the system , we follow the Keep It Simple and Safe system and when the market conditions are not conducive we take trades only when the risk is minimal. For those who understand trading, even a monkey can make money in trending markets the challenge is most of the traders give back all the profits and more when the markets are corrective or in other words when the trend is not clear. Ous KISS system protects us during the corrective phase and that is the strength of this approach
We will slightly modify the rules of entry from this week since now you have some idea of our approach. We will stagger our entries when we have a doubt that we may not get a better entry, but we are sure of the direction of the trade. I will alert accordingly.
Lete me welcome and thank all those folks who joined us on this path and we will do well, Stay the course , you will be glad .
Please provide me your feed back and let me know if you have some suggestions
Day One
Friends
Here are the calls i made and times and results . Beneath I also am posting my real results from the trades i took and i will explain why my results are worse . I am putting my own money on the line and will tell you what i did wrong today and what you should not repeat and also how i am going to do them differently
Date Pair Trigger Suggested Stop Time called Entry P1 P2 P3 Net Net Net
Dec 2nd GBP L @ 1.4825 1.4775 5 am 1.4820 -25 35 10 10
GBP S @ 1.4935 1.4960 7:20 am 1.4930 -30 -30 -30 -90 -80
My personal results were much worse i lost 210 points. WHY?
1) The first trade a downward spike took out my stop by 1 pip , so unnecessary loss.. but the nature of the beast. However i reentered Long @ 1.4800 again and made up the loss and exited P1=60 and P2 = 90. So net was a profit of 60 points
2) The problem was the second trade. I did not put in a stop loss to avoid a spike since as per my system the move higher on GBP was against the trend and eventually was to be retraced. However the problem was i had to rush out on a family urgency to my son’s school and by the time i returned i was caught deep on the wrong side. So i took the hit and paid the price. It was not the markets problem it was my discipline. But i am ok with this since i know i will make up this andmuch more. I am sharing this with you folks so you wont ever take this kind of risk and never ever do this. As a matter of fact i had a counter entry signal at 1.4970 to go long but i was not here to execute it.
I promise you wont have a repeat of this.
We will be fine. Just stay with the plan and stay course dont waver.
Day Two
Dec 03′ 08
As mentioned yesterday the move yesterday was an against the trend move which was retraced today. However discipline was to take the loss when we are wrong and not worry about what happened after we exited. This is lesson number one i had to learn and took lot of agony adjusting to it. But experience teaches that 8 out of 10 times it saves us and keeps us alive for another trading day . The biggest benefit of admitting we are wrong and quitting a trade is that it clears our mind, helps us look at the market objectively for the next opportunity. This is priceless.
Now on to today.. We had a trigger happen outside our time zone( prior to 4 am) and hence we missed a nice trade. We had a possible entry at 4 am to sell at 1.4770 , however on that the risk for the stop if the trade goes against us would have been very high and hence we pass such trade(RISK vs REWARD is the deciding factor on every trade). This is perfectly normal and we will have to practice patience and walk away from the computer instead of sitting and worrying about the missed opportunity. Most novices agonize over these , Hell even i do some times…
We miss one opportunity we will have one more , market is eternal. The other aspect i would like enunciate here is that we need to eat healthy and have a decent balance in our life to trade well. Early days there is this obsession ad worry that engulfs most because of the 24 hour markets in currency world and that tends to drive people to being addicted to the terminals and miss sleep and food and personal life. Get out of this habit early else it is a certain doom .
What to expect tomorrow. Well on the news front we have 2 important day Thursday and Friday . On Thursday we have GBP and EUR Rate decisions and expect extreme volatility. on Friday we have Jobs numbers , one more killer volatile day. So please stay alert and keep your risk minimum and don’t panic
Lets do it . This will be the website i will be providing for this service with some additional functionality going forward and plan to provide live presentations and chats during trading hours . Pls stay tuned
Stay course stay disciplined !
Day Three
We were left out from the nice moves even today and we have to take it in the stride. As anticipated the moves were random and the participants often throw fits and over react . Especially GBP is like a fire cracker or more aptly a drunken monk, it runs either way as if on speed !
Anyway, we are here to follow a system and take trades which are of higher probablity and low risk . We stayed disciplined and that is what we should be happy about and opportunities in the currency market are like trains on the New York subway , we miss one we will have one following right behind, so we can relax and look for the next one
Today we had 2 calls to go long on GBP, but both of them we missed by roughly 10 pips and that is sure frustrating but it keeps us safe .
Tomorrow being Friday and the jobs data will throw additional volatility into the already volatile markets, so we need to tread safely. For example the system i use is a combination of Timing, traditional technical analysis and Elliotwave theory. The combination helps minimise false signals and help us filter out low probability trades and focus on high Risk reward trades. Often times when we take many trades and even if we keep losses minimal on those trades , the more number of times we see losses the more our faith is shaken, so from even just to avoid our mind pitfall we should be cautious. Confidence begets confidence and winning begets winning.
Let me share you how crazy some times trading can be. Outside GBP occasionally i take trades in CAD or EUR (very rarely though). Today i spotted a high probability trade opportunity in CAD to go short and i did exactly as per the system(but as you guys know CAD is also called Loonie .. well for a good reason i guess) . After i adopted a short there was this news that Canadian parliment is suspended in an unprecedented move (who says democracy is alive?) and all the analysis and our systems are thrown under the bus and i got burnt , but that is precisely what is possible in markets and if i beat myself up for the unexpected loss i wouldn’t be trading anymore , take it with a big spoon(pinch is not the right amount) of salt , curse your heart out, let off the steam and back to business
I like to share these events just to show that all of us are part of the crowd in the market and markets are made by us and our behaviours and hence if we can predict our behaviour we can save ourselves
Lets us stay the course and we will do well and you will see
