This week’s weekly recap takes us on a wild roller coaster ride from discretionary calls to Bulgarian seminars and from new counter trend strategies to tough market conditions.
Another hard week was behind us, but we managed to get positive literally on Friday, the last day of the week. Read the entire article for a full update of last week.
Tough Market Conditions
However, the remainder of the week was extraordinarily rangy, and we had a small streak of losses. Most trades initially went into profits, but then due to ranging market conditions and some news, the trades hit their stop losses.
But in all honesty, I know we shouldn’t have had a loss on EUR/USD. It was solely my decision to close the trade manually instead of letting it go as just a little bit later it went to a full TP. So I blame the loss on me, not on CAMMACD.MTF.
Luckily we managed to get positive literally on Friday, the last day of the week.
123 pips on AUD/JPY Using New Counter Method
Some time ago, I started working on new CAMMACD.MTF counter trend system. The work has been 90 % done, and we will surely see the full iteration of the revised CAMMACD.MTF counter trend template that will be merged with MTF. I already started trading it fully. The work has been very hard, I invested a lot of time and effort, but I think it will pay off. See it action below!
Starring as a Guest Speaker in Bulgaria
One of the things that marked my week was a seminar in Bulgaria. I met many great people, we had an excellent time, and I enjoyed it thoroughly. Cosy summer city of Varna at the Black Sea coast hosted a smaller event just for new and would-be traders. Interestingly enough I also met a few people from our ecs.LIVE Telegram group so we could talk live. Being only a guest speaker, I was surprised to see how many people also know me in Bulgaria.
After that, we had a great after party in the local club where we stayed up late.
Parties, money, exciting life is something that can be achieved, but it comes with a price.
Anytime you start on a path towards something new; you will experience much uncertainty within yourself alone along the way. That’s simply a natural process. The Forex trading experience is no exception.
Most people can overcome that uncertainty by themselves. Others simply can’t. For the latter, a mentor is excellent support. They will help you build confidence. Sometimes simple words of encouragement will be enough, or perhaps an email with a different perspective will do the trick.
Numerous Forex marketers are selling online mentor programs, usually as a downloading PDF. I call these options snake oil. There is no way a simple PDF can teach you the proper facts about trading, psychology, money management and risk management – all of which you need to understand if you want to trade successfully. The best way to find out what causes mistakes in your discipline is to keep a trading journal as we do and investigate each of those lapses.
Come, join us and see it for yourself!
Nenad Kerkez aka Tarantula FX