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.







Saturday, 2 April 2011

USD/CHF my ruin, down 2.5% on the week, nearly 10% up YTD


I am angry with myself for not being able to manage my USD/CHF trades properly. The first loss was due to a misplacement of my FTA. Second one was for wanting to hold the trade going into the NFP instead of moving to BE asa the contrarian PB at the daily was confirmed. Anyway, I am still quite novice and all mistakes are costs of running this business. As I always tell my friends, this is a lifelong project for me... and I just came off the nest... :)
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2 comments:

  1. ambo6 April 2011 at 22:54

    Hey Ivan,
    They say u learn more from losers than winners, congrats on your learning experience, I have had some good learners lately as well, as long as you keep your head above water each month, how much more do you know now than you did 2y-1y-6mon-3month ago, if you are anything like me probably lots.
    Remember each trade has a random outcome but overall you have an edge, and that you are looking to sharpen that edge with a more discipline trade management approach.
    Isn't it great that we can learn to trade at this level and learn so much so when we are trading 10 full lots (ahah) our edge will be like a razor
    Mark Gavin
    AMBO

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  2. ivan8 April 2011 at 22:37

    Hey Ambo,

    How are you forex warrior?

    Absolutely. Lessons are cost of running the company. That is not to say lets get plenty of them so we get extremely experienced cause our account will melt pretty quick.. However, my mistake in USD/CHF was a new one still had to tick on my lessons learnt "box" and now I see the benefits of closing a position for small lost instead of taking a hit when going into the NFP lottery.

    Think past week was pretty quiet huh. Glad we all held our guns for better times that will soon come along. You see, eventhough Euro and Aussie have been anhihilating the Dollar, I had no need whatsoever to jump in the bandwagon unless price approached my hot areas marked ;)

    Yeah, trading 10 lots sounds like the real deal to leave my daily job and just focus on FX. Thas should wait I guess.. ;) we gotta lay one brick after another..

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