{"id":17408,"date":"2010-12-30T00:27:44","date_gmt":"2010-12-30T05:27:44","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=17408"},"modified":"2010-12-30T00:27:44","modified_gmt":"2010-12-30T05:27:44","slug":"my-top-10-forex-resolutions-for-2011","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/12\/30\/my-top-10-forex-resolutions-for-2011\/","title":{"rendered":"My Top 10 Forex Resolutions For 2011"},"content":{"rendered":"<p>Well, it&rsquo;s only two days before the New Year so I better make my end  of the year resolutions&hellip; Exercise daily, eat healthy, steady on the  partying, and so on.. Trading-wise, here are my top 10  forex decrees:<\/p>\n<p>1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Don&rsquo;t 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 &ndash;      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)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Don&rsquo;t forget the fundies!<\/p>\n<ul>\n<li>Marry fundamentals with technicals like      you&rsquo;re 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)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Don&rsquo;t 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&rsquo;t fret if you find your      account down to   zero the following day. If you want to gamble.. go to a      casino!   It&rsquo;s more fun there! If you want to profit&hellip; trade forex in a        systematic way!<\/li>\n<\/ul>\n<p>4)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Don&rsquo;t 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&rsquo;t 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&rsquo;ll find yourself in a deeper ditch if you lose again.<\/li>\n<\/ul>\n<p>5)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Manage your positions wisely<\/p>\n<ul>\n<li>Manage your positions wisely like your      managing your chicks&hellip; I   mean your checks. Don&rsquo;t risk more than 1% of      your account balance   in one trade. Enough said!<\/li>\n<\/ul>\n<p>6)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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&hellip; then stay away.<\/li>\n<\/ul>\n<p>7)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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&rsquo;t just jump      in. Wait for it   to retrace (sounds fancy, eh?) so you can get a better price.      Hit   the limit order function&hellip; it&rsquo;s there for a reason.<\/li>\n<\/ul>\n<p>8)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Be flexible<\/p>\n<ul>\n<li>The market acts like a girl&hellip; fickle      minded. You just don&rsquo;t 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)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Use a journal<\/p>\n<ul>\n<li>Okay, journalizing sounds kinda gay-ish.      But if you want to   keep track of what&rsquo;s working and what&rsquo;s 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&hellip; everything.<\/li>\n<\/ul>\n<p>10)&nbsp;&nbsp; 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&rsquo;re just   humans. We get strained too. Sometimes we have to take a break      as   well. So for my tenth decree&hellip; Free yourself from stress. Clear your        mind. Go out. Drink. Chix.<\/li>\n<\/ul>\n<p>So there you go&hellip; my top 10 forex resolutions. Currently, I&rsquo;m working   on the tenth (Hey Babe!). Alright. Got to head out now. Peace! <\/p>\n<p>More on <a href=\"http:\/\/www.laidtrades.com\/\">LaidTrades.com<\/a> &#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Well, it&rsquo;s only two days before the New Year so I better make my end of the year resolutions&hellip; Exercise daily, eat healthy, steady on the partying, and so on.. Trading-wise, here are my top 10 forex decrees: 1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Don&rsquo;t hesitate to trade the breakouts! Chart patterns are the bread and butter of technical analysis. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/12\/30\/my-top-10-forex-resolutions-for-2011\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;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-17408","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/17408","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=17408"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/17408\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=17408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=17408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=17408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}