Journal

Slow start of the week at Forex Market online

We’ve seen a quiet start to the week with many markets closed for public holidays, including the UK, China, Singapore and Japan. I was not expecting much of a volatility but today was terrible.  We had ISM report, that was the only big news of the day. Also ECB President Draghi spoken but it did not trigger the market.

My earning got very sorry looking chart today. I think i’m minus 100 pips today. I have taken almost 14 trades  and none of them were a winner. currently i have EurJpy running from a pullback and i’m hoping it would run up to least 50 pips to offset my losses. At the time of writing my journal, the trade is still ON and i think i’ll keep it running over night.

2ndMay
Bad chart today

As you can see from the chart above, my EurJpy still valid. I may pull it out the moment it goes below the clusters of candles. But i’m really hoping it would go up and help me to earn some pips. These sorta days are really frustrating. Not even one win. At times you feel, you are doing wrong but this is the way forex market works. I need to keep on doing what i’m doing and i know market will give me some pips in the future. If it was few months ago, i would have surely doubted my forex trading strategies if it was failing. I probably would have been looking for new forex strategy. But at least now i’m consistence with my forex price action strategy.   Currently i need to make my winning days big so that i can offset my loses from other days.

Forex trading is really tough on the mental. Some days are bad, some days are really good. Just need to make sure good days are more than the bad days.

cheers,

2nd May, 2016

Leave a Reply

Your email address will not be published. Required fields are marked *