talking about all those forex experts out there, giving advice and helping new traders :)

GBPUSD

Trends are changing?!

I had no trades for today… none. Looks to me like the trends are changing for all the pairs I’m trading. So I’ll just wait and see, I don’t want to risk picking up tops or bottoms.

[youtube https://www.youtube.com/watch?v=2dzp3oZ_Feo?feature=oembed&enablejsapi=1&origin=http://safe.txmblr.com&wmode=opaque&w=500&h=375]

Lovely song

(Source: https://www.youtube.com/)

Two boxes met upon the road.
Said one unto the other,
“If you’re a box,
And I’m a box,
Then you must be my brother.
Our sides are thin,
We’re cavin’ in,
And we must get no thinner.”
And so two boxes, hand in hand,
Went home to have their dinner.

by Shel Silverstein - you got to love the simplicity of his style.

Decisions, decisions

Friday didn’t close so well. A few trades remained opened and the AU basket still didn’t close. Not to good, but not so bad to destroy my weekend.

Have a nice weekend, everyone.

How to Calculate a Stop Loss using Excel

I found a video entitled like this on Youtube. Dude, seriously?!

This is why many traders fail, because they have been taught that their trades must have fixed SL, TP etc. The markets are much more fluid than you think. You cannot ‘predict’ the stoploss or the takeprofit no matter how many calculations you make. You can, at most, estimate them… which case you do not really need so many calculations. Better focus your time and mental energy on something else.

I’ve managed to watch 30′ of that video, BTW.