ForexSpirit

This morning’s trades show just what a fine line there is between success and failure when scalping.

The first three trades of the day all exhibit the same issue: entering too early. In all three cases waiting an additional 20 seconds would have resulted in much better entry positions. I have the direction [...]

As the old saying goes, ‘Insanity is doing the same thing, over and over again, but expecting different results’ (cue hat tipping to Albert Einstein and Benjamin Franklin who are often credited with this quote).
I guess that brings me one step closer to crossing that line (if I haven’t already) as I’m back scalping. [...]

You know how when you’re trading futures you don’t actually want physical delivery of the commodity appearing on your doorstep in a few months time?
Whoops.

After getting my head under a shower of hot water this morning, one of my first thoughts was to wonder how the positions I had left on overnight were fairing. Which was swiftly followed by the thought of Schrödinger’s cat. Until I actually went downstairs and turned on my tablet PC, the trades [...]

“I love it when a plan comes together!”
- Colonel John “Hannibal” Smith
So far, so good with my amazing powers of precognition. Twenty four hours after my attempt to read the sentiment tea leaves EUR/USD finds itself just under 1.4850, where I predicted it might fall to. Luck, skill, experience, intuition; it matters [...]