Wednesday, June 2, 2010

Back on track with our Forex trading

We're certainly back on track with our forex trading. Only Zingo trades are being traded. It's really hard sometimes to resist putting other trades on! It's quite amazing how the mind works, but I'm determined to stick with the plan.

Speaking of which the plan appears to be working so far. Our account is back in the black again and we have trades on that are doing well as I write this. We're putting Zingo trades on all currency pairs even tho we've been told that the ones to trade are the JPY currency pairs as they are the most profitable. For us at the moment, any profit is good! If we make $5, that's $5 extra in our trading account is the way we look at it.

As for the rest of the plan, I am learning to trade Range trades. They are a little more complicated than the Zingo trade, but not hard. When I first saw the info on the Range trade at the seminar we went to a few weeks ago, it just resonated with me.

Range trades can be traded on a number of time frames and when done correctly are very successful from what I gather. So I've got to watch the videos again and set up my template for my charts in MetaTrader4 (the trading platform or software we use for trading). Range trades require the use of a few indicators on the chart, so best to set them up as a template.

It's pretty exciting, this whole trading thing. The possibilities for the future and my picture of where we'll be in five years time (not only from this but other areas as well that I'm working on) are motivation enough for me to work hard and get really good at what I'm doing.

Jim Rohn (RIP) said this and I love it:

From testimonials and personal experience, we have enough evidence to conclude that it is possible to design and live an extraordinary life.

He was a smart man Jim Rohn, and I now know that what he said is true as I've seen it repeatedly with my own eyes in the lives of people that are now my mentors in various areas and I know that I'm doing exactly that right now even tho you can't see it yet.

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