Just thought I'd share an open trade that we're following, now just up more than 280 pips on the short EURUSD. Hope your trading is going well.
Wednesday, November 9, 2011
Tuesday, May 31, 2011
Traveling with Family
Hi All, well I've come to Washington DC to pick up my son and cart he and his stuff back to Colorado. So for this two week period I'm not trading or writing, well much. I'm using this time to work on my next book. Finally removing all the other trading books from storage for my library to research what others have said, never realised just how many books I have collected. Trading books back to the 1800's which are very cool to go through. So, remember to use good money management as trading is risky. With the right attitude, the right plan, consistent execution, you can achieve any goal you may have, including successful trading. Remember to hug the ones you love, they can vanish in an instant.
Friday, May 20, 2011
May 20 2011 Trading Room Position Calls
The Following are the FOREX Trading Position Calls for Members of the Blue Heron Trading Room for May 20 2011 0200 to 0800 Hrs Mountain Time, Monument, Colorado. See the Trading Disclosures on the website, the following are the trades as called:
Long: EURUSD 1.43446 close 1.43226 = (22 pips) Loss
Short: EURUSD 1.43301 close 1.43231 = 7 pips scalp
Short: EURUSD 1.42990 close 1.42357 = 63.3 pips
Short: EURUSD 1.42790 close 1.42200 = 59 pips as a second stacked position
Short: GBPUSD 1.62280 close 1.62276 = 0.4 pips
Short: EURUSD 1.42532 close 1.41636 = 89.6
Total Pips for this Trading Session: 197.3
Long: EURUSD 1.43446 close 1.43226 = (22 pips) Loss
Short: EURUSD 1.43301 close 1.43231 = 7 pips scalp
Short: EURUSD 1.42990 close 1.42357 = 63.3 pips
Short: EURUSD 1.42790 close 1.42200 = 59 pips as a second stacked position
Short: GBPUSD 1.62280 close 1.62276 = 0.4 pips
Short: EURUSD 1.42532 close 1.41636 = 89.6
Total Pips for this Trading Session: 197.3
FOREX Trading is not JUST about Making Money?
OK, so here you go again you're thinking... if Trading the FOREX Market is not about making money, why in the world would a person, mmm... me; get up at one thirty in the morning to sit in a dark room, looking at 4 screens, drinking coffee and contemplating the financial goings on in some far away land?
Well, so I'll admit it flat out, I love making money, sometimes big money and yep, I've also made some poor decisions which have cost me but I learn from my mistakes, especially ones that are pointed out to me by my family and friends. FOREX Trading IS about Making Money! That's why I sit in this seat hours at a time. However, sometimes I reflect on other accomplishments not just upon being able to transfer money into our debit accounts and take ski vacations in Aspen and Vail Colorado (nice getaway place is http://www.cordilleralodge.com/ for your family).
Sometimes though, it's about trusting my experience and implementing a great trade and catching a trend. The simple fact that I had made a great trade puts added pressure on me to maintain a steady composure and not let my head abandon pride and integrity because I'm winning.
With that in mind, I should mention that your trading plan, like mine, should include principles that can help you implement FOREX Trading Strategies that follow sound behavioral patterns that focus upon commitment, concentration, recovery from loss and future planning. These are hard things to do because as part of the process; you have to be willing to admit uncertainty, let go of your ego, identify fear, and come to the understanding that you have a lack of knowledge and more.
So, first things first, review your trades everyday, then compare what you are doing with your actual FOREX Trading Plan; in the end, use what you learn to adapt to a more balanced trading process.
Remember to use good money management. Happy Trading.
Well, so I'll admit it flat out, I love making money, sometimes big money and yep, I've also made some poor decisions which have cost me but I learn from my mistakes, especially ones that are pointed out to me by my family and friends. FOREX Trading IS about Making Money! That's why I sit in this seat hours at a time. However, sometimes I reflect on other accomplishments not just upon being able to transfer money into our debit accounts and take ski vacations in Aspen and Vail Colorado (nice getaway place is http://www.cordilleralodge.com/ for your family).
Sometimes though, it's about trusting my experience and implementing a great trade and catching a trend. The simple fact that I had made a great trade puts added pressure on me to maintain a steady composure and not let my head abandon pride and integrity because I'm winning.
With that in mind, I should mention that your trading plan, like mine, should include principles that can help you implement FOREX Trading Strategies that follow sound behavioral patterns that focus upon commitment, concentration, recovery from loss and future planning. These are hard things to do because as part of the process; you have to be willing to admit uncertainty, let go of your ego, identify fear, and come to the understanding that you have a lack of knowledge and more.
So, first things first, review your trades everyday, then compare what you are doing with your actual FOREX Trading Plan; in the end, use what you learn to adapt to a more balanced trading process.
Remember to use good money management. Happy Trading.
Realign and Refocus your goals
As a professional trader of international currencies utilizing the FOREX market place, I find it very important to refocus my attention and my efforts to insure that I'm staying on the right path. Of course, it helps to have a partner who is also a trader and Diana very often is the catalyst for such a refocused approach.
Diana asks some very hard questions, challenging me to define clearly what I'm doing and why. Her participation in the Blue Heron Trading Room brings some confusing issues into focus for all of us and her insights via her experience in Fundamental Analysis is very helpful. Technical traders and Fundamentalists have similar goals, to make money in the markets we trade, but we take quite different paths.
Her recent challenge to me was to help me figure out why I was exiting some of my trades early on. To do that, she certainly asked me the harder questions that I feared to even ask myself. Perhaps some of the readers have been challenged in such a way. I discovered that while everyone has figured out that trading in a trend is easy, the choppy markets of late have increased the stress levels on traders and as such we begin to question our decision tree and trade identification process.
So, challenged as I was, we sat down and started to review and perform a forensic analysis on our Trading Plan (if you don't have one written down you should). We discovered that our indicators that I use on the technical side fail in the shorter time frames in a risk market environment and something that is a bit clearer was needed. Technical analysis is my passion so set off on the right direction once again, I explored new indicators, tested them and found that in reality, the old familiar process still worked and all I needed to do was to re-optimize my old charts.
It's important I believe to become familiar not only with your indicators but with the markets you trade. While we in the Blue Heron Trading Room look towards and trade some seven or eight FOREX currency pairs, I strongly suggest that for new traders they trade only one currency, usually the EURUSD and learn how that pair operates and the indicators work within the FOREX Market action. Many traders believe that to make more money they have to trade more FOREX pairs, when in reality, the only way to make more money is through consistency.
Your best road to trading FOREX consistently is through detailed exposure to your preferred FOREX currency pair, learning how it moves, the FOREX Market interaction with your chosen indicators, and beginning with small trades, building confidence with growing consistency. Once your confidence has developed, so will your account as you take more trades with consistent wins and with such a record, you'll increase your trade size.
A case in point... two years ago, I was approached by Chris A who asked me to mentor him in an effort to improve his trading. He had been grinding down his FOREX Account trade after trade and needed to refocus his efforts and build consistency in an effort to work full time from his home. That was his goal. We built his trading plan, focused on the EURUSD only, learned to trade the 5 and 15 minute charts and his consistency began to improve and his account stabilized. A month later, we touched base and he had remained on track and his FOREX Account was growing. Later that year he told me that his air conditioner had failed. With that, he sat down one afternoon and traded during a period he usually didn't trade but his short term goal was to pay for his new air conditioner without impacting his normal trading. His knowledge of the FOREX EURUSD Pair permitted him to gain the funds needed to pay for the repairs and then some he said in about 3 hours.
I talked with Chris last week and he continues to grow his account as well as take away from the market a very good living. Sometimes, refocusing is what's needed for all of us to regain consistency and find once again success.
So, if you're having less success than you expect, perhaps a refocus through the help of someone you trust who will ask the very hard questions of you, then direct you to release your unproductive and maladaptive practices and regain confidence. For me, Diana helps me keep my head on straight in this high risk FOREX Market; perhaps if you don't yet have a Diana in your life, a couple of hours with Diana through our mentoring program can help set you back on track.
For traders like my friend Chris and several others, FOREX Coaching or utilizing a FOREX Mentor is more about an investment in yourself than it is an expense. After all, if you improve your trading consistency, are able to increase your trading size and account successfully, the investment in yourself pays for itself time after time after time.
Of course, we're trading in the Blue Heron Trading Room today and I started the day with a rookie move, losing 22 pips. Stepping back with a fresh cup of coffee and then Realigned and Refocused myself back to success, gaining far more than I lost on that first trade.
Wishing you the very best, remember to hug the ones you love, I do. Trading FOREX is risky, be sure to use sound money management. See our disclosures on the website. Happy trading. Richard
Diana asks some very hard questions, challenging me to define clearly what I'm doing and why. Her participation in the Blue Heron Trading Room brings some confusing issues into focus for all of us and her insights via her experience in Fundamental Analysis is very helpful. Technical traders and Fundamentalists have similar goals, to make money in the markets we trade, but we take quite different paths.
Her recent challenge to me was to help me figure out why I was exiting some of my trades early on. To do that, she certainly asked me the harder questions that I feared to even ask myself. Perhaps some of the readers have been challenged in such a way. I discovered that while everyone has figured out that trading in a trend is easy, the choppy markets of late have increased the stress levels on traders and as such we begin to question our decision tree and trade identification process.
So, challenged as I was, we sat down and started to review and perform a forensic analysis on our Trading Plan (if you don't have one written down you should). We discovered that our indicators that I use on the technical side fail in the shorter time frames in a risk market environment and something that is a bit clearer was needed. Technical analysis is my passion so set off on the right direction once again, I explored new indicators, tested them and found that in reality, the old familiar process still worked and all I needed to do was to re-optimize my old charts.
It's important I believe to become familiar not only with your indicators but with the markets you trade. While we in the Blue Heron Trading Room look towards and trade some seven or eight FOREX currency pairs, I strongly suggest that for new traders they trade only one currency, usually the EURUSD and learn how that pair operates and the indicators work within the FOREX Market action. Many traders believe that to make more money they have to trade more FOREX pairs, when in reality, the only way to make more money is through consistency.
Your best road to trading FOREX consistently is through detailed exposure to your preferred FOREX currency pair, learning how it moves, the FOREX Market interaction with your chosen indicators, and beginning with small trades, building confidence with growing consistency. Once your confidence has developed, so will your account as you take more trades with consistent wins and with such a record, you'll increase your trade size.
A case in point... two years ago, I was approached by Chris A who asked me to mentor him in an effort to improve his trading. He had been grinding down his FOREX Account trade after trade and needed to refocus his efforts and build consistency in an effort to work full time from his home. That was his goal. We built his trading plan, focused on the EURUSD only, learned to trade the 5 and 15 minute charts and his consistency began to improve and his account stabilized. A month later, we touched base and he had remained on track and his FOREX Account was growing. Later that year he told me that his air conditioner had failed. With that, he sat down one afternoon and traded during a period he usually didn't trade but his short term goal was to pay for his new air conditioner without impacting his normal trading. His knowledge of the FOREX EURUSD Pair permitted him to gain the funds needed to pay for the repairs and then some he said in about 3 hours.
I talked with Chris last week and he continues to grow his account as well as take away from the market a very good living. Sometimes, refocusing is what's needed for all of us to regain consistency and find once again success.
So, if you're having less success than you expect, perhaps a refocus through the help of someone you trust who will ask the very hard questions of you, then direct you to release your unproductive and maladaptive practices and regain confidence. For me, Diana helps me keep my head on straight in this high risk FOREX Market; perhaps if you don't yet have a Diana in your life, a couple of hours with Diana through our mentoring program can help set you back on track.
For traders like my friend Chris and several others, FOREX Coaching or utilizing a FOREX Mentor is more about an investment in yourself than it is an expense. After all, if you improve your trading consistency, are able to increase your trading size and account successfully, the investment in yourself pays for itself time after time after time.
Of course, we're trading in the Blue Heron Trading Room today and I started the day with a rookie move, losing 22 pips. Stepping back with a fresh cup of coffee and then Realigned and Refocused myself back to success, gaining far more than I lost on that first trade.
Wishing you the very best, remember to hug the ones you love, I do. Trading FOREX is risky, be sure to use sound money management. See our disclosures on the website. Happy trading. Richard
Thursday, May 19, 2011
May 19 2011 Trading Room Position Calls
The Following are the FOREX Trading Position Calls for Members of the Blue Heron Trading Room for May 19 2011 0200 to 0800 Hrs Mountain Time, Monument, Colorado. See the Trading Disclosures on the website, the following are the trades as called:
Short: EURUSD @ 1.42948 close @ 1.42478 = 47 Pips Email Alert 2240 HRS May 18 2011
Long: GBPUSD @ 1.61356 close @ 1.61760 = 40.4 Pips
Long: EURUSD @ 1.42234 close @ 1.42509 = 27.5 Pips
Long: GBPUSD @ 1.61560 close @ 1.61563 = 0.3 Pips
Long: GBPUSD @ 1.61510 close @ 1.61804 = 29.4 Pips
Long: EURUSD @ 1.42606 close @ 1.42757 = 15.1 Pips
Long: GBPUSD @ 1.62000 close @ 1.61907 = (9.3) Pips (Loss)
Short: EURUSD @ 1.42792 close @ 1.42483 = 30.9 Pips
Long: EURUSD @ 1.42456 close @ 1.42573 = 11.7 Pips
Long: EURUSD @ 1.42272 close @ 1.42741 = 47.9 Pips
Total Pips for the Day Gains - Losses = 240.9 Pips
Email Richard at BlueHeronTrading@gmail.com to obtain information on how you can participate in the Blue Heron Trading Room and benefit from our experience Trading the FOREX Market.
Short: EURUSD @ 1.42948 close @ 1.42478 = 47 Pips Email Alert 2240 HRS May 18 2011
Long: GBPUSD @ 1.61356 close @ 1.61760 = 40.4 Pips
Long: EURUSD @ 1.42234 close @ 1.42509 = 27.5 Pips
Long: GBPUSD @ 1.61560 close @ 1.61563 = 0.3 Pips
Long: GBPUSD @ 1.61510 close @ 1.61804 = 29.4 Pips
Long: EURUSD @ 1.42606 close @ 1.42757 = 15.1 Pips
Long: GBPUSD @ 1.62000 close @ 1.61907 = (9.3) Pips (Loss)
Short: EURUSD @ 1.42792 close @ 1.42483 = 30.9 Pips
Long: EURUSD @ 1.42456 close @ 1.42573 = 11.7 Pips
Long: EURUSD @ 1.42272 close @ 1.42741 = 47.9 Pips
Total Pips for the Day Gains - Losses = 240.9 Pips
Email Richard at BlueHeronTrading@gmail.com to obtain information on how you can participate in the Blue Heron Trading Room and benefit from our experience Trading the FOREX Market.
Sunday, May 15, 2011
Personal
On just a personal note; we had a lot of snow on Thursday last and then finished up the week with our Seminar on Pivot Point Trading and the trading of the EURUSD and GBPUSD which we exited both with profits. So, as a bit of reward, off to Denver for a weekend of relaxation, a visit with the spa and some great food and of course the multiple visits to Park Meadows Mall in South Denver for some shopping (well mostly I watched and waited of course).
It's important to remember that trading is stressful and you should ensure you put time aside for you and your family for some fun and relaxation. That let's you return to your business of trading international currencies with new energy.
Remember trading is risky, always use good money management and optimize your indicators to the markets you are trading. Good trading. Richard
It's important to remember that trading is stressful and you should ensure you put time aside for you and your family for some fun and relaxation. That let's you return to your business of trading international currencies with new energy.
Remember trading is risky, always use good money management and optimize your indicators to the markets you are trading. Good trading. Richard
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