{"id":16038,"date":"2010-11-29T11:05:45","date_gmt":"2010-11-29T16:05:45","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=16038"},"modified":"2010-11-29T11:05:45","modified_gmt":"2010-11-29T16:05:45","slug":"reissue-my-top-10-forex-resolutions-for-2011","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/11\/29\/reissue-my-top-10-forex-resolutions-for-2011\/","title":{"rendered":"Reissue: My Top 10 Forex Resolutions for 2011"},"content":{"rendered":"<p>Who said that resolutions can only be made on New Year? Well, it\u2019s    still roughly a month from the first of January and I already made    mine. I mean\u2026 the earlier I make the changes the better, right? So let    me cut to the chase and tell you now what they are. Here are <span style=\"text-decoration: underline;\"><a rel=\"nofollow\" href=\"http:\/\/www.laidtrades.com\/2010\/11\/29\/reissue-my-top-10-forex-resolutions-for-2011\/\" target=\"_blank\">my top 10   forex decrees<\/a>:<\/span><\/p>\n<p>1)\u00a0\u00a0\u00a0\u00a0\u00a0 Don\u2019t hesitate to trade the breakouts!<\/p>\n<ul>\n<li>Chart  patterns are the bread and butter      of technical analysis.   There  are five basic must-know chart formations \u2013      triangles, head   and  shoulder (inverted), double bottom (tops), cup and      handle,   triple  bottom (top). If you spot a breakout.. trade it!<\/li>\n<\/ul>\n<p>2)\u00a0\u00a0\u00a0\u00a0\u00a0 Don\u2019t forget the fundies!<\/p>\n<ul>\n<li>Marry  fundamentals with technicals like      you\u2019re marrying Jessica   Alba.  Okay, the latter does not make any sense. In      any case, you   should  always try to execute trades that are both supported      by    technicals and fundamentals\/sentiment as this would increase the chance         of them winning.<\/li>\n<\/ul>\n<p>3)\u00a0\u00a0\u00a0\u00a0\u00a0 Don\u2019t gamble!<\/p>\n<ul>\n<li>Say  no to rogue trading! Trading      currencies is not like in a   casino  where you can just do a one-time big      time trade. Of course   you  can do that but don\u2019t fret if you find your      account down to   zero  the following day. If you want to gamble.. go to a      casino!   It\u2019s  more fun there! If you want to profit\u2026 trade forex in a         systematic way!<\/li>\n<\/ul>\n<p>4)\u00a0\u00a0\u00a0\u00a0\u00a0 Don\u2019t revenge trade!<\/p>\n<ul>\n<li>Did  I say no rogue trading? Well, losing      is part of the game.   So if  you do just relax, calm down, and move on.      Don\u2019t hit the   entry  button again and trade twice or thrice of the position      that   you  lost in hopes of getting it back and even winning in one go.         You\u2019ll find yourself in a deeper ditch if you lose again.<\/li>\n<\/ul>\n<p>5)\u00a0\u00a0\u00a0\u00a0\u00a0 Manage your positions wisely<\/p>\n<ul>\n<li>Manage  your positions wisely like your      managing your chicks\u2026 I   mean  your checks. Don\u2019t risk more than 1% of      your account balance   in  one trade. Enough said!<\/li>\n<\/ul>\n<p>6)\u00a0\u00a0\u00a0\u00a0\u00a0 Avoid trading in a highly volatile time<\/p>\n<ul>\n<li>Trading  during the releases of high      profile reports like GDP   and NFP is  not my style. I got whipsawed the last      time I tried to   ride a  sudden slide in prices from a GDP report. You      cannot really   gauge  how much a currency will move given a report. You      might get   the  tail end of the move if you decide to just jump in. If you       miss   it\u2026 then stay away.<\/li>\n<\/ul>\n<p>7)\u00a0\u00a0\u00a0\u00a0\u00a0 Trade on retracements<\/p>\n<ul>\n<li>This  one is related to number 6. If you      miss a breakout or the    initial strong move in prices then don\u2019t just jump      in. Wait for it    to retrace (sounds fancy, eh?) so you can get a better price.      Hit    the limit order function\u2026 it\u2019s there for a reason.<\/li>\n<\/ul>\n<p>8)\u00a0\u00a0\u00a0\u00a0\u00a0 Be flexible<\/p>\n<ul>\n<li>The  market acts like a girl\u2026 fickle      minded. You just don\u2019t know   what  she wants exactly. So sometimes it is      best to just adjust  and  be  flexible. To be profitable and likable you      gotta do what  the   woman wants.<\/li>\n<\/ul>\n<p>9)\u00a0\u00a0\u00a0\u00a0\u00a0 Use a journal<\/p>\n<ul>\n<li>Okay,  journalizing sounds kinda gay-ish.      But if you want to   keep track  of what\u2019s working and what\u2019s not in your      trades then you   better  jot all of them down. Write down your trade ideas,      what   happened,  what you did, what you felt\u2026 everything.<\/li>\n<\/ul>\n<p>10)\u00a0\u00a0 Go out. Drink. Chix.<\/p>\n<ul>\n<li>Yes.  You read that correctly! Forex is a      tough business with   all the  things that you have to read and analyze.      We\u2019re just   humans. We  get strained too. Sometimes we have to take a break      as   well. So  for my tenth decree\u2026 Free yourself from stress. Clear your        mind.  Go out. Drink. Chix.<\/li>\n<\/ul>\n<p>So there you go\u2026 <a rel=\"nofollow\" href=\"http:\/\/www.laidtrades.com\/2010\/11\/29\/reissue-my-top-10-forex-resolutions-for-2011\/\" target=\"_blank\">my top 10 forex resolutions<\/a>. Currently, I\u2019m working   on the tenth (Hey Babe!). Alright. Got to head out now. Peace!<\/p>\n<p>More on <span style=\"text-decoration: underline;\"><a rel=\"nofollow\" href=\"http:\/\/www.laidtrades.com\/\" target=\"_blank\">LaidTrades.com<\/a> &#8230;<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Who said that resolutions can only be made on New Year? Well, it\u2019s still roughly a month from the first of January and I already made mine. I mean\u2026 the earlier I make the changes the better, right? So let me cut to the chase and tell you now what they are. Here are my &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/11\/29\/reissue-my-top-10-forex-resolutions-for-2011\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Reissue: My Top 10 Forex Resolutions for 2011&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-16038","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/16038","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=16038"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/16038\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=16038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=16038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=16038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}