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Wow! My first day of live forex trading looks explosive. AUD seems to overpower the other currencies on the 4-hour time frame.
Unfortunately, I missed the forex party. Was coming from a long trip and was very tired. The system clearly shows I should have bought on AUD against the other forex pairs especially at the 4am and 7 marks. Oh well, nothing to cry about, the forex market will provide other opportunities.
Below is an example of the AUDCHF Buy signal at 4am. Even the 7am signal was still valid. Was asleep due to fatigue:
(Proverbs 20:13 (KJV) Love not sleep, lest thou come to poverty; open thine eyes, and thou shalt be satisfied with bread… Hahaha…
This is on a light note. Was from a trip, tired, woke up a bit late (very late😊 ) )
Another missed opportunity was Gold at 12 Noon. For this one, there is no valid excuse. I simply chickened out. The signal was great with enough confluence, but…
There is need to work on the psychology side of things here. Hope the internet community can assist.
First Forex Live Trades
Cowardice did not rule the day. 2 trades were eventually taken. GBPUSD Buy and CADJPY Buy. The trades were taken in the evening after analyzing 3pm charts (4Hour Charts). Not going through the news publications but it is clear by afternoon Kenyan time (US session Start), the mood was risk-on.
Commodity Dollars (Comdolls and the expensive’ assets (GBPs)) were strong while safe havens were weaker. All this is on the 4-hour charts, Daily and Weekly charts still have remnants of last week’s sentiments where USD was strong. This can be expected because if the market is to reverse, it will start with lower time frames.
Note, I do not claim to call reversals, just stated I noted a form of sentiment change in 4 Hour charts. If markets should change, I will do the necessary as I am sure my system will send notifications.
By evening, the system indicated
- AUD was the strongest (by then I was late for the party)
- Followed by NZD
- GBP, EUR and CAD were of equal strength.
- Followed by USD
- Second last was JPY
- Then finally CHF
Anyway, GBPUSD seems to be doing very well. CADJPY seems undecided. It is still early, I will give both pairs time.
I will call it a day, but there are some assets I am watching with my side eye’ 😊. They are EURJPY, EURGBP, and Gold. Waiting for the good ol’ retracement. In the list of simple pleasures in life, an asset retracing to your pending order and immediately shooting in the direction of your trade.
Then again, will trade with what the system advises. We can only wait on the market, but cannot dictate to the market what we want. The market is King (or Queen… 21st Century correctness).
This Blog has a forum page so that we can interact there, not only in blog post comments. The conversations can continue in the forums, say before blog posts come out. The blog is still new, and I must admit, coming up with blog posts is still hard for me. Hopefully, I will get better at it, and the trading will also get better, as there will be interactions with you the visitor.
Great time guys, and May all you take profits to be hit.