Forex-fxtrader

Hi. I have just posted a new article on the blog which deals with one of the most important rules in forex; that of risk versus reward (this follows on to last weeks money management article). You can find the article here; risk reward in forex


I mentioned in last weeks email that some tenants had trashed one of my rental properties and I had to go to England to sort out builders, the police and lots of other mundane things. I traded a little bit on monday and tuesday for a net loss of 45 pips. I had so much trouble with my new lap top and metatrader (think its me not metatrader )! I didn't bother emailing you. I do not wish to over load your in-box with posts about zilch.

I am of the firm opinion, if I have nothing to say, say nothing !

If you lost money or found this week difficult don't beat yourself up over it. The choppiness and false break outs were horrendous. I posted on twitter on friday "if you are not sure whats going on, take a few days off and wait for the markets to sort themselves out."

Often periods of uncertainty like this weeks is followed by explosive movements, thats what we are waiting for.

As metatrader wasn't working I tried a new software platform "etoro." To be honest I had never heard of it before and I also read some mixed reviews on the web, BUT this is an awesome, funky platform.

If you are new to forex and are looking for a free demo account, then I would certainly recommend giving it a try. The graphics are great and the style & explanation is very helpful to the newbie. The news and everything you need to trade is all in the one place which I found very helpful.

I demo traded it for a couple of trades, but can't vouch for its reliabilty with real money as i haven't tried it yet.

If you want to check it out there is a link on the blog home page.

I get lots of you asking me to recommend brokers. Its very difficult to know who are really good and who are sharks. You can find negative comments on the internet about ALL of them, but a lot of the time its new traders who didn't really understand what they were doing. Lost their money and then look for someone to blame. I have had quite a few of you (including some friends of mine) who recommend one of the smaller USA brokers, who are nfa registered. If anyone is interested let me know and I will send you the details.

My wife and I are currently in one of our favourite cities, Madrid. I will be back to the Islands in the next few days And will start to trade every day again. To be honest I have enjoyed the break, so we decided to make a small holiday of it.

I have received a number of interesting offers since I started the blog, including one to trade for a largish fund, requests to do a forex course (to sell for big $$'s) and one to make a daily video for an online forex tv site. I know that the daily analysis that I did here for a few weeks was very popular, so who knows I may be able to start it again.