Up 2,500 points this month

The market is back in full swing and we have been rewarded handsomely. In the last 24 hours I have had some nice gains and I am on track to another good month.

Perseverance goes a long way in this business. I started out this month from behind after  losing 4 trades in a row and digging myself into a small hole. I continued to execute my plan and manged to make back my losses and then some. I have also brought my batting average back to a respectable level.

The best way to pull yourself out of a losing streak is to have amnesia when you approach new positions. You got to forget about the last trade and how much you made or lost and move on to the next trade. Every trade is different and you do not want your emotions spilling over to the next trade. This allows you to stay focused and execute your plan based on what you see is happening instead of your emotions taking over and dictating what you do.

Risk to Reward

I have been so busy this week that I have not been able to trade my personal account much. But here is an update of where I am at as we approach the middle of the month.

If you notice my batting average has suffered severely because I have not been able to pay as much attention to my positions. But because I maintained a solid risk to reward on each position I have still been able to see consistent results. Stay Tuned!

GBP/USD Update: Discipline & Patience goes a long way

It is never over until it is over traders remember that. We have been rewarded for our discipline and patience as price has found it way back above the 8 ma and is now approaching our TP1. Traders always remember stick to your guns and follow your initial plan and you will be fine.

 

GBP/USD update

You cannot win them all.

It looks like we might get stopped out on our GBP/USD trade. This is what happens when you take a trade that is counter to what the higher time frames are telling you. But it is not over until we are officially stopped out. Unfortunately I was not in front of my computer this morning  to adjust my stop-loss to break even before the aggressive move from the bears took price below our entry.  Now we have no choice but to sit back and see if price comes back into our favor. If not then it is what it is, losing is apart of the game.