Relax, its all good ;-)

2.45 gmt

All my positions are well into profit. Even the EURUSD, if I had entered at ~1.3270 earlier would be marginally into profit. The dollar/yen has broken decisively lower and such a move on a Friday presages further falls early next week. I feel relaxed – this is the way trading should be. Being relaxed with the amount of risk, and satisfied with the amount of profit; not unduly fearful nor unduly greedy – a good balance.

Getting closer to the Zen ideal.

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6 thoughts on “Relax, its all good ;-)

  1. Daniel

    And to add to that, I think you should pat your back for not getting stuck to your bias of a rebound in DXY. I know as a trader we tend to have our bias, but when the chart tell us the opposite, you got out and followed the chart yesterday 🙂 in this type of trading environment, I would not be surprised of another reversal, although the bias is very much for further dollar weakness for now.

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    1. ZenFXTrader

      Thanks Daniel. Yes, my opinions of any chart are for that moment only – I don’t care what I thought an hour ago, if the chart now looks different, the situation has changed. I say often on this blog that I don’t do predictions, they’re only a reading of the charts at that time. As a great man is reputed to have said: “When the facts change, I change my mind. What do you do, sir?” [JM Keynes]

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      1. Daniel

        Are you still planning to add long in EU? If 13300 hold when US opens, i see a retracement to at least 13260 or probably 13240. The problem is I want stop to be at least 13150 to be comfortable although 13190 could also be considered.

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      2. ZenFXTrader

        EU long: Not today, its a Friday, no data or speeches scheduled. Also, the charts of the Euro crosses (EURGBP, EURAUD, EURJPY) seem to be pointing towards a weak Euro over the next few days. I wouldn’t be surprised if it goes to ~ 1.33 and then drops back down to 1.30 or below.

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  2. Eric

    Hey dude, good job on this blog. I haven’t read it all, but this weekend I’ll have time so i might 🙂

    Which forex broker are you using if you don’t mind me asking? I’m considering opening an account over there http://www.forextrainingworldwide.com/free-trading-account/ with these guys. I’ve learned a lot from their course so I’m thinking this could be good, but i’d like more opinions!

    Keep blogging, have a great day

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