Emotions - Up & Down !
Good Evening / Morning Dynamic Traders
“Better to have tried and failed, than not tried at all”
Cross = EURNZD Daily below (Courtesy of Advanced Get / E Signal)
31st January, How has Month 1 of the year been for you ? Its that time of the year when the "Tax man" is wanting your returns in order to collect your taxes. If you are taking your trading serious then you will not want to lose profits to the taxman so a "Spreadbetting" account will enable your profits to be "Tax Free".
What is "Spread Betting" ?
Emotions, like your profits will go up and down and I want to look at the EURNZD which we reported in the last blog, that we were in a 200 pip loss. We entered the trade with one of our Pullback "Dynamic Trader" strategies and as can normaly happen, we triggered into the trade and then moved into a loss. Even when you are used to these things happening, your emotions can cause mental stress. However as we write we are now nearly 200 pips in profit within a couple of days.
EURNZD
Learn from the mistakes of others, you can not live long enough to make them all yourself.
Remember PRICE is your number 1 indicator, Support & Resistance is your second. Keep it simple.
Please do your own analysis before entering a trade.
Trade with Passion
John Maher
Forex Analyst
