Forex Trading Recap: 04 Sep 2012 +36 Pips


Finally the summer is coming to an end!  Not many people would really be excited about that but traders are.  Every year we pretty much see the same thing as volume starts to dry up in early June and stays pretty subdued until the end of August.  I actually found this one a bit slower than usual which is likely thanks to the ongoing European Crises and everyone trying to wait things out before taking any massive actions.

This week and beyond could get interesting however.  There's loads of fundamental news coming out and the central banks have meetings galore.  All it takes is a surprise or two and volatility could come flooding back in taking forex traders for a ride.

Ultimately we don't need to be too concerned though.  We're not just looking for massive swings each day or only trading trends.  With The Elite Range Bar System we can adapt to what the market brings.  If it just offers some scalps then that fine but if it wants to really run we will just settle into Type 1 trading and go along for the ride.

All that truly matters is that you can be consistent from day to day. It takes some time and effort to get there, but once you do it doesn't really matter if you are averaging 20 pips a day or 60, as long as you are doing it cosnsistently. Still, it's nice to have those 80+ pip home runs once in a while!  Hopefully we'll be seeing some soon...

Anyways, be sure to check out the video below if you want to see how I traded with The Elite Range Bar System today.  All entries and exits are included and spread has been accounted for in the totals as well (as always):
 

2 comments:

Ebineta said...

Really it was great! That was an good improvement in trading of 36 pips. Thanks for the post

The Samurai Trader said...

Thanks! I assume you might be referring to the more recent +104p day as the improvement?

That's one of the things about trading. Some days can be huge, some days you struggle a bit, but the more you do it the more consistent you become. After a while you can at least keep long streaks of winning days going and that means everything if trying to do this for a living.

I basically have the philosophy that I'll take whatever the market offers. If it's 20 pips then I'm happy, if it's 100 pips that's great too. If the market is complete junk and I am break-even for the day then so be it. It's when you start trying to push the market into giving pips that aren't really available that you get in trouble. So just roll with the waves of the market and accept what it offers.

Post a Comment