Dynamic Trader Forex Blog FXCPS.co.uk: Take a breather.

Good Evening / Morning Dynamic Traders

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

Cross = USDDKK : Day chart below.

Hello Guys, What a last couple of days we have had. Any one who has followed the blog on this site or our sister sites listed below, should have made a nice profit over the last 7 days.I do not want to pour water on the fire by saying all good things come to an end, however management of the trades is vitally important as nothing goes up, up, up or down, down, down. Today we have news on Greece's financial problems and on Friday NFP, so expect less volatility and more likely a pullback.

Back to the positive stuff, those following my blog will know we have taken profit and are now risk free on EURAUD, GBPCHF, EURCAD, EURUSD, USDJPY, AUDNZD & USDCAD. Trend trading rewards you over the longer term and these results show you the strategies employed by "Dynamic Trader" work in the current markets. If you are not yet a member of the "Trading Room" who review the week ahead on a Sunday evening, then details are below.

Not everything will turn to Gold immediate in "Trend Trading" and patience is needed when you see some of your trades in a negative state. You must stick to your trading plan and rules f you want to see a consistent results. Your stop loss will have been placed in a calculated manner and you must believe in your decisions.

Our worst performer as I write is the USDDKK, which is illustrated below.

This trade was taken in my usual aggressive nature and some if not many would have preferred to have waited until the Major RN had been cleared. I have employed my usual risk calculations prior to placing the trade and after seeing 3 Higher Highs and stochastics showing strength in the trend, had expected enough momentum to push through and beyond the RN. Since entry I have moved backwards and forwards, in and out of profits. Price has decided to consolidate , which is common after a large move.

Have I called it right ? or have I been too aggressive ?, only time will tell and the market is ALWAYS right.

Please do your own analysis before entering a trade.

To learn the methods and strategies, join the Dynamic Traders trading room, click here for details Trading Room.

Dynamic Trader members can join our trading room by clicking here.

Trade with Passion

John Maher
Forex Analyst