Great to be back from the holiday break and, I am raring to go.
I basically observed last week’s action in the FX market. In past years I have been caught out with early year trading during times of low liquidity. I learned my lesson the hard way and I believe the phrase to use here is “Once Bitten Twice Shy”.
Whilst I do consider myself very disciplined as a trader, I still let myself go on a USD/JPY short trade and was squeezed out in 30 minutes! I am still striving for perfection; in my defence it was a short against what I believed a strong area of resistance. Yep... not that strong as it blasted by over 300+ pips by the end of the week. I am discussing the FX markets well documented “THE TRADE OF 2023” for FX PREMIUM subscribers in the SUNDAY MORNING ZOOM.
I posted a ZOOM titled “THEMES 2023” for FX PREMIUM subscribers recently, where I talked about INFLATION v RECESSION. In today’s DRIVE THRU ZOOM I want to visit the subject of INFLATION, not from a conspiracist perspective but a realist view on the numbers. The headlines and the euphoria 2023 has brought so far, albeit only 8 days have passed, of which, we have had only 4 trading days beggars’ belief.
Check out my thoughts in the YouTube presentation below: -
THE WEEKLY FX DRIVE THRU:
WEEKLY FX PREMIUM PERFORMANCE – 2023 SO FAR...
“THE DOUBLE UP” SUBSCRIBER PROMOTION
If you visit my website, you will find lots of additional supporting information about the way I trade. The link below should be helpful.
Finally, always remember longevity in Forex trading can only be achieved through trading with a good MINDSET, RISK, TRADE and HEAD MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility. Trade with a TRADE PLAN, basically, plan your trades and Trade your Plan.
Be grateful for your wins and count them. Keep a POSITIVE MINDSET in play at all times, regardless of the market conditions.
The Pip Accumulator
Twitter: @weeklyfxpremium (Restricted feed - FX PREMIUM Trade Information)
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BLOG VERSION: #485 FREE NEWSLETTER & COFFEE SHOP
DATE: 8th January 2023