End of Month..

Well October is over trading wise and it’s been a cracking month. I certainly feel like I’m settling into a nice routine of late and it’s certainly paying dividends results wise. I stepped into Forex back in late June and I thought how hard can this be? I always thought horse racing was tough but Forex takes everything to a new level; discipline, emotions, money management. Everything is multiplied. However, I really think the more time I’m experiencing the markets, the more comfortable I’m feeling. My thirst for knowledge is pretty big and if I’m not trading I’m either reading some articles or doing some research on my strategies. I’m starting to understand each pair I trade and how they correlate to each other. I’ll never stop learning but I can honestly say I am a long way on since I started a few months ago.

Next week is a monster week for news releases with NFP, GBP cash rate, US Fed release and Aus RBA cash rate. GBP is expected to increase their QE and Australia is expected to raise their rate for a 2nd month. Any deviations should cause quite an impact and I’ll hopefully be positioned well enough to take advantage if anything is wide of the mark. NFP is always entertaining. One thing I haven’t managed to work out is why the NFP can be so far wide of the mark when the ADP NFP is released two days prior to it. Surely that should give a leading indication? Answers on a postcard please…

Enjoy your weekend, I’ve got the Abu Dhabi F1 to watch, should be fantastic!

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    • Luke
    • October 31st, 2009

    Enjoy the GP!

    Heres an interesting article I found on trading discipline:

    http://www.tigersharktrading.com/articles/1993/1/Seven-Insights-for-Disciplined-Trading/Page1.html

    • fugly
    • January 24th, 2010

    Hi John,

    My last comment got deleted accidetally. I wanted to say if you only trade EU and GU like you recommend in your dubaistrategies you would have been on the verge of losing ur account! As it is your drawdown has already gone to 35%. Don’t you think this kind of drawdown is indicative that the strategy will kill the account sooner or later.

    • Hi,

      Account killer? Not in a million years. Don’t forget I’m trading TUFXP and Dubai strategies together and if I’d solely been trading Dubai strategies I’d be in a much stronger position. All results are available on the Cash-master site here. Due to various circumstances beyond my control I’ve missed several winners which exaggerates the drawdown. Yes it’s higher than I’d like but I am not at all phased and hope to go from strength to strength from here.

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