This “house” isn’t your broker or the market
This “house” is the ForexFlow house, who was full of traders short USDMXN from last Thursday and beyond, and have all rang the bell on all or most positions now.
Once again, I’ve got to doff my cap as I’ve had an amazing trade in USDMXN on the back of analysis put forward by others in our trading room. Short Thursday at 19.63, final TP this morning at 19.20.
Add to that the counter trade in USDJPY longs put on after the NFP from 108.15 down to 107.90, which many in the room also jumped on.
I’m just awaiting the final TP at 108.70. TP now hit..
And I’ve not even mentioned the gold trades the room has been smashing recently, led by our very own Dubsly.
While other sites just write about what buyers and sellers have been doing after they’ve done it, we’ve been writing about what we are doing.
Is it all plain sailing? Of course not. Last week USDCAD broke long held support and cost me 26 pips over 2 trades. However, that was a drop in the ocean compared to the pips made from buying there over the last few months, and a much reduced loss due to analysing the price action and cutting the trade size and using tighter stops.
Trading in a community opens up so many possibilities and widens our scope for understanding markets and how to trade them. Personally, it gives me somewhere to share and question my own opinions, and to hear and factor in things I may not have thought of. It also provides a support platform for when trades don’t go well and that can help you realign one’s focus.
If you would like to know what our trading community can offer you, have a look here.