Currency Trading Challenges

Well, another week is almost over and it's been another sad one for us as reflected in our trading account!

The amount that we were up last week is almost all gone again this week, BUT I realised yesterday that we had the Moving Average indicator set up wrong. That could explain a bit of our difficulty over the past three weeks that we've been trading live.

When trading Zingo trades, the Moving Average is the main indicator that we use! So to have it set up incorrectly is a real problem. Doh! We use the Moving Average to ascertain whether we should be looking for short trades or long trades and also to see if a Zingo setup is happening.

There are two settings that have to be changed on the MA when trading Zingo trades and we only had one setting changed - I'd missed the other one obviously when watching the video on how to set it up. There's something to be said for watching these lessons several times I'm realising.

Apart from that, we've been trading only Zingos, but we've been trading them on all currency pairs and have realised that that also may be a problem. I kind of knew that we'd been told only to trade five of the JPY currency pairs, but hey, I thought we'd give it a go with the others. After looking at our results and that actual risk to profit on the new risk calculator, we've decided to only trade the zingos on those five currency pairs that we've been advised to and see how things go.

I've also just started trading the new Range trades that I'm learning. I've got three on a the present time - my first Range trades! Cool.

So, that's all for now and I'd like to say that at least our account is still up a little. This whole currency trading thing is a real roller coaster - to start with anyway. Never a dull moment! We'll see how these Range trades go huh.......