It’s always difficult after the exemplar Trading Masterclass we had yesterday to know how to follow it. So today, I’ve decided to take you down an alternate tree-lined avenue of trading and try and place one or possibly more trades which actually show us a bloody profit.
If today is also a stinker, tomorrow I will be explaining how to set up a trading signals vendor base in Queensland Australia.
Two trades (just the one if I’d been awake) yesterday, both on EURAUD. I was looking for Shorts. The first one I followed the price up up until I got a Short entry setup, but failed to adjust my stop in-line with my rising entry level. Stopped out 4 mins after entering trade. Although a ****-up, it was a blissfully swift coup de grace. The 2nd attempt allowed the market to taunt my stupidity for a further gruelling 6 hours before letting me know I still had the capacity to be a ****** and taking me out where I should have placed the stop on the first trade.
Couple of other things before I press on with today’s proto-debacle.
I’m not certain the 2nd trade wasn’t an attempt to show you that I could wrestle victory from a cocked-up 1st trade. It wasn’t a pristine entry signal. Thought I was beyond such things and possibly I am, but as I say, jury’s out on possible hubris.
Which brings me to the 2nd point. Hubris. Did this exercise a few years back when I realised I was totally magnificent and completely invincible, and the Gods punished me for my bravado by stringing me a series of class-A losing trades all executed with the finesse of a mentally retarded chimp. Taught me not to do live calls.
Reason for doing so yesterday (and today) was not to show off (fairly fuggin obviously!) but to simply share my methods and thought processes for debate and comment.