Hi there, my name is Ivan, FX trader. After studying varies sources of information for the past few years, my understanding of the FX market has improved dramatically, with this blog simply intending to share with you all a journey within my mind. When I make it to full-time trading, I know the first person I should be grateful to is an Aussie PA trader named Jonathon; He has been inspirational and an enormours influence to gauge where the money flows to. His trades can be followed at http://forexpriceactiontrader.blogspot.com/ . What price is telling you is key, as it always whispers in low or high intensity what market intentions are. I do not endorse the use of any indicators, as they are lagging in nature; analysis should be based on pure price action. Besides, other factors like sentiment, fundamentals, risk control, rock-solid discipline, thousands of hours readings charts, also make up the equation to succesfully ride the FX waves. When entry triggers are detected, I act without hesitation, letting the market do its thing. Please note, information and opinions contained in this blog are for educational purposes only and do not constitute trading recommendations, thus will not take responisbility for any losses viewers may have. Trading FX carries a high level of risk, and may not be suitable for all investors. Before deciding to invest you should carefully consider your investment objectives, level of experience, and risk appetite. You should not invest money that you cannot afford to lose.







Thursday, 17 February 2011

EUR/CAD - SECOND LOSS THIS WEEK


In retrospective, I dont quite like how I played the trade. I entered on a break of lows, having a buffer of 30-40 pips minimum as I wanted to see that support clearly broken.. The problem is that I set my SL too tight, not letting the trade much room to breath... I would have prefered to wait for the break down, bounce to retest old S new R, and PA on a lower time frame like the D... However, from the graph I played the trade, W, the trade was taken according to my plan, so I am gonna stick with it and accept the loss as part of the game.
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