Happy New Year 2010!!!

Hey guys!

Just want to take this opportunity to wish everyone an AMAZING 2010 with loads of joy and success!!!

How is everyone's New Year? Any resolution for the year ahead? Share it with me so I can cheer you on! Those of you who have been dropping by to this blog might have noticed that there are some changes to the blog layout. The change is basically to cater to a more efficient and organised blog. An even bigger change is that I now have my own domain name at www.forexandlife.com! The reason this domain name was chosen is because it accurately reflects the original intention of the blog, which was to share with you guys my journey on trading forex as well as some of my random thoughts about life.

While the previous URL www.theforexguy.blogspot.com still works, please change your bookmarks and links to www.forexandlife.com to accurately mark the new change.

Lastly, I have included a couple of ways where you can contact or keep in touch with me either through Facebook, Twitter, RSS or e-mail. So if you have questions, interested in guest blogging, or just to say hi, do feel free to drop me a note.

Thank you very much for being part of my journey so far. Here's to an abundant 2010 to all and may we make lots of pips together!

Cheers,

Leo

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,
Leo