Forex Blog | SurgeFX Forex Trading Signals Blog

The Euro: To Parity !

noreply@blogger.com (Viz Fact) — Sat, 12 Jun 2010 06:05:00 +0000

To parity I say !

I remember back when I was trading, when I was happy, when I was having things, back then, 2.00 EUR/USD.

What a wet dream that was. The Eurozone has just begun its collapse and boy its a long way down. I just hope I am back in the market before the Ez collapses totally, make a few bucks on the deal, and then when the US collapses, ride it back up.

See you all soon. I am not in the markets but when I do get back in the markets, you know I will keep you updated on every trade.

Coming Back into The Markets

noreply@blogger.com (Viz Fact) — Sat, 29 May 2010 02:55:00 +0000

I fully intend on re-entering the forex markets as a trader. I made some mistakes, but I know my strategy is the absolute, bomb ! It has some kinks, but that's minor. I can get around those moments by taking my losses with discipline or just not trading during those squeeze times. Check back on this blog for future updates.

Selling USD/CAD

noreply@blogger.com (Viz Fact) — Fri, 09 Jan 2009 00:17:00 +0000

Oh yes, this is what I have been waiting for. I don't have the best entry or the sexiest stops, but I have one of the best strategies, and whether or not this trade wins or not is not my concern, I am just happy, that I have developed the discipline to wait for the right trade, and not give a damn about the outcome because I know for a fact that I will lose some trades and win a lot more. I have a strategy that genuinely puts the odds of success in my favor.

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Almost Forgot

noreply@blogger.com (Viz Fact) — Tue, 06 Jan 2009 15:39:00 +0000

That damn EUR/JPY trade I was all excited over didn't work out. But at least I did not lose any pips.

Made me mad !, Just kidding, I should have taken profit on the extra positions I had.

Woot !! New Year Entry

noreply@blogger.com (Viz Fact) — Fri, 02 Jan 2009 19:41:00 +0000

Woot, Looks like we have a new Juro-Jendog (EUR/JPY) to get involved with. I sure hope it works out. It totally looks uncertain, but the strategy is clear, Execute & Assault, Kill it dead terminated, and by God execute we will, Charge !!

Lol, We will post the outcome of it. Then its right before the weekend, give others more than enough time to decide on whether or not to help us out or not. I love the weekends.

Just think, we break through 131.00 , 136 has to be next destination. Its much more of a sexier time than the 70 something pips I bookeried ealier. Well its fun to look ahead like that.

Happy New Year

noreply@blogger.com (Viz Fact) — Fri, 02 Jan 2009 03:42:00 +0000

Well, Happy New Year !

We had a good 2008, USD/CAD finished with a 66% win ratio, and EUR/JPY finished with a 71% win ratio. Good news. Indeed.

Well my last usd/cad trad eof last year went bust. Took a hit. Will look forward to future trades.

Looks like the Yen was the year of 2008's biggest gainer.

Selling USD/CAD #2

noreply@blogger.com (Viz Fact) — Mon, 29 Dec 2008 19:50:00 +0000

You know, this USD/CAD has not been being very nice over the past 6 trades, but that's ok because my time is coming my strategy is good enough for me to take the drawdowns when they come.

Even though I have only won 25% of the recent trades (overall ratio is around 60%), I am up about 200 pips from my worse point in USD/CAD.

Now back to business, this damn short is driving me insane, it has touched my stops (1.2230) 2 or 3 times, this is torture, however as of the last 5 minutes, the bastard is in profit. I have no idea what that's about but oh well, a wrote off loser turning around to become a winner. I love that story but I hate the trade. If I didn't have patience, discipline and providence, I would have probably closed it twice right near my stops, and re-entered on the way, down, giving away lots of pips due to lack of advance market maturity.

A Painful Victory

noreply@blogger.com (Viz Fact) — Mon, 29 Dec 2008 19:42:00 +0000

So the EUR/JPY turned around, went from 129.73 to my stops @ 127.60.

I booked over 170 pips, but I feel like I missed something. That's probably cause I did, Maybe I should have been more aggressive with the stops, maybe I should have taken profit at the high, maybe , just maybe I should have just closed all my extra positions and made the market pay me as it made money available to me.

The word "should" sucks ass.

Maybe I did the right thing, and greed, is making me feel like I missed something.
I did do the right thing. I stuck with my plan, booked 178 pips.
200 pips gone, I could have only done about 50 pips better with my stop. If I would have had it my way, I would had my stops just over 128.00 instead of at 127.60. I was asleep at the time.

Greed. Don't let it force you into trades.
Only about two months ago, I probably would have allowed the market to eat up the 178 pips I did book, while trying to chase down 200 pips that probably wasn't meant for me anyway.

Patience Defined By SurgeFX

noreply@blogger.com (Viz Fact) — Mon, 29 Dec 2008 07:03:00 +0000

Patience,

I believe that patience in regards to forex trading is something different than the old "patience is a virtue" blah blar.

It is my belief and practice, that patience is only a virtue when the ultimate outcome is good.
This is obvious because the very term virtue is related to something good.

So how can you apply this to your trading ?

Its quite simple, just know your gameplan.

1. Know how many losses to expect.
2. Know how many wins to expect.
3. Do the damn studies.

When I do my studies, I do 3 - 10 years worth of historical chart studies. Because I need to know what the average win ratio is. Then If I am comfortable with the average lose ratio, I am then happy with any losses that may occur and happy all the wins that happen in between the winners, I mean losers.

I know for a fact that my strategy has the potential to kick out 65 - 80% winners. But I expect about 68-70% of the trades to win.

My only job is to execute.

Now back to patience.

Lets talk about physics. Time cannot exist without space, space cannot exist without time. In forex we can't bend the charts , lol, so it will take time, for the market to get to where its going. With a genuine edge on the market that puts the odds of winning in your favor, all time is a good thing, the longer the trade lasts, the better. Once you get a good plan, and patience to go with expected results, and the will to wait , see, execute, and participate, you can't lose.

A few things that will kill you.

1. Taking trades that your strategy has not sanctioned.
2. Being greedy based on price action.
3. Not embracing fear.
4. Not taking trades that your strategy has sanctioned. Missing out hurts.

Thanks for reading, and the next time you work on your strategy, take some time out and create a little virtue for your patience.

Reviewing MY EUR/JPY Long

noreply@blogger.com (Viz Fact) — Mon, 29 Dec 2008 06:51:00 +0000

136.16

That just has to be where its going. I have been long (In at 125.81) for a week (which is why I love the holiday trading periods, things happen) and when I start to look for targets, my targeting techniques have me looking for 136.16 front and center.

I guess I need to prepare myself for the probability of a massive rejection from 131.00 (resistance) but then the rebound should clear it out for further gains, If I am right about that prediction. I don't "do" predictions but that's just what comes to mind when I review my charts.

I doubt I will make it to 136.16 in this single trade, but the next long should be from around 130-something if it doesn't make it in this trade and the strong uptrend remains apparent.

Selling USD/CAD

noreply@blogger.com (Viz Fact) — Mon, 29 Dec 2008 06:44:00 +0000

Looks Like USD/CAD is about ready to take that trip to the downside. I seriously think we could go all the way to 1.1250. But My target isn't to that extreme but I would be happy if the market justified it.

Current Price is1.2107.

Staged Perfection

noreply@blogger.com (Viz Fact) — Sun, 28 Dec 2008 22:27:00 +0000

Yes , that's what I call it, "what" you may think, my strategy I must say. Well its more of a mental conditioning trick to keep me from being my own worse enemy in the market. My strategy is awesome. End of story. Only over the past year or so I have been holding my self back with fear.

Fear of missing moves, or fear of losing, or fear of missing a trade.

Only recently I have realized and embraced fear. With that in mind, If I just do my job perfectly, I know how many losses to expect and how many glorious victories to look forward to.

With this matured enlightenment of simple apocalypse, I have been doing quite well since the revelation.

It is now week 4, I have made no mistakes, I have been sticking with my forex trading plan, I am up 2500%, that (the 2500%) wont happen all the time, I saw some opportunities and I took em.

But to sum up, one must know himself, in order to ensure approaching FX correctly.
Learning to approach FX with the right mental approach is 90% of the job of learning to trade forex. The other 10% is clicking the mouse & whatever your strategy is.

Time and Space must be taken into account. Staged Perfection is all about planning in advance to not make any mistakes.