What a last three weeks in forex market ! Really has been amazing so far. I never had consecutive winning in a row like this. I’m now looking into potential of ending this month with some profit in the bank. It’s been a while since i had a positive month.
Now here is the thing, in the past once i had a winning week i would think THATS IT , i nailed it. I’m a pro forex trader now. I would start dreaming about my future. I would check out the new BMW or Benz on web etc.
But the next thing i know the market would crush me the following week. Back to hard reality. So this time i was little skeptical about my success. I kept my head low and followed my rules diligently. It seems it paid out.
I have also changed some trading style. I started looking at BIG picture of the trend which i never did before. The more you spend time on the chart, the more you will start to open up. I feel I’m understanding the price action better than before. I’m seeing those moments and trends. I know exactly where i should focus for the day. I can identify the moving pairs, i can analyze the pair which i should avoid for the time being just by looking at the candlestick. It seems all positive vibes have suddenly thrown at me at once.
Is this my light bulb moment ? Only time will tell.
So far I’m up by 100 pips for the month which is a very good sign the way i trade. I haven’t had big losing day this time around. In fact i have controlled my lose smartly. I knew exactly when i should flat the market with profit or pull out with a small lose. This is the skill I’m beginning adopt.
Another positive attribute added in my arsenal is the reduction of FOMO. I do wait for price to come to my entry rather then hunting for the entry. Since i trade with small stop lose so this skill greatly helped me. Now my trades have more room to breath and not getting stopped out. Before I would take the trade in fear of FOMO a little earlier then i should and get stopped out really quick. But that is not happening lately.
Overall, i’m feeling great. State of my mind is in great shape. I’m waiting for the next week. I’m not feeling pressure at all these days.
Understanding the chart, reading the candlestick, fearless attitude , controlled risk are the key to success in forex market for sure.
Until next week,
Cheers,Tags: 15min, candlestick, daytrader, forex, myforexdairy, price, Psychology, USDCAD