Greed, Emotion & Fear

Good Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = EUR : 240min Chart (Posted Below)

Long Term Trend = Down : Short Term Trend = Down

Greed, Emotion and Fear.

Have you experienced any of these whilst trading ? If you are like me and most other traders it will be ALL three, and sometimes at the same time. These are three things we have to learn to control and master in order to be a successful trader.

Greed. If I can get 30,50,100,200 pips then I can get more, just a little more, just this time !

Emotion. Why did it go up or down, I will get it back, I am angry now, I am invincible.

Fear. Can you pull the trigger ? Oh no it's going against me, I might lose again.

I am sure these are phrases you have all experienced, do you want the answer ?

DISCIPLINE, HAVE YOU GOT IT ?

We are at the end of our trading week and what a week, Those that have followed the blog should have picked up plenty of pips and well done to you all. Yesterday was our quite'st day as we finished with a doji candle on the RN which has played a vital part of the week.

Today the RN is your key to the door, with entry using ESLT on a BOB. RSI remains under 50 pointing down and stachastics lie between the 20/80. MACD is above the signal line, however below the zero line. Remember the trend is DOWN.

Please do your own analysis before entering a trade, check the NEWS and use a STOP.

Have a great weekend, and I will speak to you on Sunday night.















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst