So just a quick courtesy update for my copiers and followers. As predicted, the trades have started to turn in the right direction after one day and I am confident that we will still profit nicely from these two trades before the week is over. In all honesty, I’m hopeful that we can close them at a healthy profit sometime tomorrow and then open more trades before the end of the week.
The first half of this week has been bit frustrating for me, primarily because the trade I wanted to execute at the market opening were not possible due to the client failing (this cost us approximately 10% profit/300 pips as you can read on Mondays update) and in addition since I did not want to trade the euro whatsoever this week, it has limited my options somewhat (but that’s okay and I’m happy that I decided not to profit from the situation).
Now on a personal note there is something I wish to bring up. While it may seem that all you have to do is click the copy button and everything is automated, please remember the people that you are copying are human beings and they have feelings. I myself am particularly sensitive (for better or for worse it’s one of my character traits). As human beings we all can make mistakes. After all, none of us is perfect and it’s through making mistakes that we improve better ourselves. However, if you do want to give someone advice on how to better themselves, make it constructive advice. I find it extremely annoying or condescending when someone publicly starts trying to mock my intelligence or patronise me for no good reason at all. It is very easy to tell someone that they picked the wrong entry point when you have the benefit of seeing the economic data that comes out 24 hours later. People who think that doing this is a productive use of time or makes them sound clever need some guidance. If everything is so easy and so simple and you have all the answers, then please go and do these things yourself.
Please bear in mind that there are over 3500 people who read my wall. I really don’t need people trying to embarrass me on it or make comments about “Arab mentality” etc. You know who you are and you know that what you are doing is wrong. Everybody who sees it knows that it is wrong. There is a right way to criticise someone and then there is just trolling. From now on, I’m just going to try and ignore the trolls even though it is very difficult for me as I genuinely do take everything that people say to heart (once again for better or worse, this is one of my character traits).
Oh yes, two more things. Firstly, I have taken away forum access from three people who I felt were exercising the trade ideas without having read the guides on how to best use them. I have done this for their benefit as I did not enjoy reading about how they took my trade ideas went in with extremely high leverage and then got wiped out afterwards when things started to go in the wrong direction slightly. If you read someone posting that a certain pair is headed in a certain direction over the next week, it does not mean open a trade as quickly as you can for 400X leverage. If you bother to read all the posts I made on the subject, then you would have know this, but you couldn’t be bothered, you just wanted to rush and dive in. Since I don’t want to see people losing money by making silly mistakes, I am not going to give them access back until I am confident that they have actually read the instructions and know how to follow them. I’m not trying to be a jerk, I am just trying to protect their interests and I think that that is the right thing to do.
Secondly, I just wanted to show you as well that not only do the fundamentals support the idea that the cable is on the way down, but if you look at the technical levels (where the buyers and sellers are positioned with orders) it is apparent where the trend is going. Of particular note is the fact that this pair was unable to break above 1.5250 which says a lot about it given the fact that it has had multiple opportunities to do so over the last few days.
Thank you for your time and I hope things go well for everyone for the rest of the week,