I was reading an article the other day about selling online [eBay] and the 80/20 rule popped up again… It’s seems that 20 % of your online auctions make 80% of your profits just like trading where 20% of your trades make 80% of your profits, I found that really interesting… Anyway it’s been hectic for me with Easter and the another double bank holiday strait after so have not done much research but I did find this, EUR/GBP not to deterred from my last FX trades this has been steady on the buy, gave a quick sell signal and then gave another buy at the beginning of the week so I shall be in for this Tuesday as I think it looks promising???
You have to accept losses in trading and I’ve had a couple lately on my FX trades, but I’m winning on my Easyjet so I’m about evens at the moment for this quarter. Cotton gave a sell a week ago and I should have jumped on but I thought it a correction and regrettably missed the move. That’s something I have learned recently using the Vince Stanzione system, DONT have an opinion and just trade the signals it gives, if I did I could of made a profit instead of breaking even. Silly girl, I think I shall concentrate on fewer trades again and follow more closely, it seems to be what I’m good at I don’t need an opinion at all.
I have updated the recommended reading section with 3 books that you must read. I honestly believe that these books have changed my life and I’m sure they will help you also. These are totally personal recommendations and are nothing to do with trading but I think you will really benefit from them, also they are not affiliate links.
It’s Easter break so I have been busy doing family stuff, although I always keep my eye on Sharescope I have been quite enjoying the break. One thing I have noticed though, I have found since studying the Vince Stanzione course that I have taken a keen interest in global economics, so even though I am having a mini break I find myself with a need to know what’s going on out there… Not sure if that’s good or bad??? But it certainly beats reading/following celebrity gossip. Now I don’t mean to sound really technical or way above myself but it can be useful to spot an emerging trend or buy/sell signal. But you can’t just hear a bit of news and jump on the trade. Vince Stanzione also advises that you can use the news as a contra indicator, so if they say one thing you do the other, but you should still always check any potential trades against the system rules. I don’t think it does any harm to look at other areas of information when speculating on which way a price is going to go? But I do believe in keeping your trading system simple that’s why I love the Vince Stanzione system, also don’t over trade and learn to accept losses and I think you can lay some good foundations for success?
I have am going to buy CAD/JPY and also AUD/JPY Monday morning as these look strong as the Yen is weaker after the earthquake and all, also EUR/JPY has given a good buy signal . Cotton has just given another buy signal so I was right to wait for that, coffee looks like it’s just about ready to give a buy signal also?.
As you can see I’ve added a new page, it’s really to let you know if I’ve read anything of interest and also to let readers of the blog recommend books. I’m not exactly sure how I’m going to do this? I think I’m going to add a recommend a book form or something… but for now you can post a comment and recommend a book as I can filter all them spam first and review any genuine messages.
On the trades front I have sold Easyjet again and shall update you with my other trades as soon as I finalize them? Coffee and cotton have both given sell signal incidentally but shall keep track of them for now as the general trend is up.