Dec 16, 2009

Ups and Downs of a Forex Swing Trader

Hi All,

Just had a roller coaster experience of my trades over the past 2 days and I survived to tell my story! Well, I'm generally a swing trader, which means that I attempt to identify the prevalent longer term trends and then enter trades in the direction of those trends.

About two days ago, I placed a couple two trades shorting the AUD/NZD and going long on the GBP/JPY (with stop losses in place). And as 'luck' would have it, both pairs almost immediately went against me by roughly 40+ pips (AUD/NZD) and 100+ pips (GBP/JPY).

Now I know that all the experts say that you should throw your emotions out of the window when you trade, but I can certainly tell you not many people can be sitting on top of 100+ pips of losses and feel "totally fine" with it. But I stuck on to my view and trading strategy for the past 2 days and finally see them turn into profit!

Click on picture to ENLARGE the image.

As swing traders, you sometimes have to endure days of being in the RED but if you have the correct strategy and the patience (which sometimes mean staying away from your PC!), you will be rewarded for your effort. I'm currently up 409.1 pips. :)

With regards to my emotions, oh well, I guess I still have work to do but it does look like I'm human after all!

Happy Trading,

Dec 7, 2009

Two Videos About Failures

Hello my dear friends,

I just watched two very very interesting short videos on a few very successful people and the challenges they had at some point of their lives before they became successful in what they are doing. Even though I have watched these videos in the past, watching it again reminds me that no matter how tough the going is, we should never give up chasing our dreams if we want to be successful.

Here's are the videos:

I know many people who will shrivel at the sound of the word FAILURE. To them, FAILING is bad thing and should be avoided as much as possible. However, could you imagine what would it be like if no one dared to fail? There would be no airplanes (it took two years of experimentation before the first airplane could fly and that too only for twelve seconds), there would be no electricity (according to Thomas Edison, "I tested no lesser than 6,000 vegetable growths and ransacked the world for the most suitable filament material"), and many other things that you are enjoying in your day to day life.

For those who know how to cycle, you'd probably have fallen while you were learning how to cycle, choked while you learned how to swim, fell as you were learning how to walk etc. Imagine how different your life would be if you were afraid to fail during those times. Well great, we now know that success will only come IF we were not afraid to fail in the first place AND we keep rising up EACH and EVERY TIME we fail.

Here, I leave you with some thoughts for the day. Are you happy with what you are doing, what you have and where you are heading in life at the moment? If you are, then great for you and I wish you continued success and happiness. But, if you are not, what's stopping you? The fear of failure? Whether it is the scars of past failure(s) OR the fear of the risk of failure, AS LONG AS you let either hold you slave, you will forever remain distanced from the door of success.

For failure is really nothing but the stepping stone to success.

Here's to our success (and failures),

Dec 2, 2009

DUBAI: The promised land....or IS IT?

Hi All,

As you've read from my last post, the forex markets were really volatile a couple of days back due to the debt repayment negotiations from Dubai World.

I recently read a really enlightening article entitled "The Dark Side of Dubai". Many of you have probably heard of someone who has gone to either start a business or get a job in Dubai as it is supposed to be a land of plentiful opportunities. Like they always say, the grass is always greener on the other side but what really goes on  there?

Click HERE to read on.

Til next time,


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