There were no trades for me this week. Regarding my 4 hour trading system (see right for more details), there were no decent set-ups on any of the major pairs, and I haven't used my early morning breakout system this week because to be honest I have preferred to watch the share price movements of Tomco Energy instead.
This is the only small cap stock in my portfolio and it has continued to soar higher this week, despite a little bit of selling today after the latest RNS. I have already decided that if this stock gets to 10p in the next few years (which I'm sure it will), I will probably give up forex trading and put this blog into retirement because I will have more than enough to live on. If it goes beyond that or gets taken out at a higher price, then I definitely will.
Forex trading is proving to be very tough right now with all the uncertainty surrounding the Eurozone, and I am finding very few decent set-ups as a result. In fact I'm seriously considering not trading any more this year whilst there is so much uncertainty around.
Filed under Blog by JamesW
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Permalink• Print• Email• CommentRelated EntriesWeekly Trading Update - 17-21 October 2011Weekly Trading Update - 24-28 October 2011A Review Of The Forex Markets In 2011Weekly Trading Update - 07-11 November 2011Stock Trading Nitty Gritty Review2 Comments on »November 6, 2011Managed Forex Accounts@ 6:38 pm:Great post! I like your blog.
Permalink• Reply November 7, 2011Leah Tsang@ 9:13 pm:Hi James,
It seems your stock TOM is doing really well. I watched it a few times and it's gone up a lot. I hope you don't retire your site because I really like to follow it. Your tips for a beginner forex trader is very helpful. You are right that the current market is very difficult to trade. I have just been observing lately with no trades.
Take care.
Leah
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