ForexSpirit

I’m doing a bit of a reality check on my trading activities this morning.

The first action item from having done this is that I’ve pulled the FreedomRocks articles that I published yesterday. There are a couple of reasons for this.

The main one is that I think I was getting too enthused and focused on the whole FreedomRocks thing, mainly as a release from having to confront the reality of my current trade positions open using my main methodology.

The dollar has been on a huge run over the last ten days, and this has resulted in me buying euros as varying levels as the EUR-USD price steadily dropped. We’ve seen an almost 400 pip drop during those 10 days, and while my buying was mainly spaced out by 100 pip increments I’m still holding a lot of positions at the moment that don’t look so pretty in the very short term.

I do think the dollar is now going to bump up against some serious support in the 1.28 to 1.29 region, but I feel that I have been distracting myself from having to deal with the reality of these open positions by looking around at other stuff. FreedomRocks seemed promising and had received numerous good reviews on various websites. It’s a trait that I’ve noticed in myself in the past: where I’ll start digging around and looking at other systems when the going gets tough. It’s a habit that I’ve heard and read about that affects other traders so I know that I’m not alone. At the same time, it’s one habit that I really need to reign in and eliminate.

I’m not knocking the program at all at this stage, just saying that I think it was a bad time for me to begin using it and to start trumpeting about it. If nothing else it has given me a good opportunity to evaluate the USD-CHF and EUR-CHF currency pairs.

The strong trend in the EUR-CHF pair makes me think that it could be an ideal candidate to become a second tradeable pair if I ever wanted to expand using my median grid approach to more than the one currency that I currently use.

I’m going to put the FreedomRocks thing on hold until I can think more clearly and evaluate it further.