Today’s Forex signals:

From: Dave Hughe <plainfx@gmail.com>
Date: Tue, Dec 16, 2014 at 7:19 AM
Subject: December 16
To:

GBPAUD Buy 1.9106 SL 1.9039 P1= 1.9138 P2= 1.9158

EURCAD reached the 1st profit target but hit our stop-loss order at the break even point before resuming its uptrend. Therefore the total result for this trade is +26 pips.

Today’s Forex signal has reached its first profit target (see the actual signal below):

From: Dave Hughe <plainfx@gmail.com>
Date: Mon, Dec 15, 2014 at 7:38 AM
Subject: December 15
To:

EURCAD Buy 1.4427 SL 1.4368 P1= 1.4453 P2= 1.4477

Answer by Dave Hughe:

It's impossible to succeed in trading without the correct psychology and mindset.

Discipline is the one most important factor in any trader's success.

You can have the best strategy in the world and lose money if you don't follow that strategy to a tee.

The majority of traders lose money because they get overpowered by emotions. Greed and fear are the two enemies which every trader has to deal with daily.

It takes confidence and courage to keep trading the same system after a string of consecutive losses or to take profits off the table when the price is moving in your favor.

There are different methods to control emotions. Among others are meditation, breathing exercises, sports, yoga, etc. Unfortunately, none of them is universal and results will depend on your personality.

A proper risk management will save you a great deal of emotions. Always make sure that you don't risk too much money on any single trade and that the combined risk for all open positions is not overextended.

How should one prepare mentally for trading(financial markets)?

Our Forex signals generated +206 pips of profit this week.

There were no signals today and therefore the total trading result for this week is +206 pips of profit.

As mentioned in the previous post, our USDCAD trade today reached both profit targets and the third unit was stopped at 1.1519 for +74 pips in total profit (see below)

USDCAD Buy 1.1503 SL 1.1459 P1= 1.1527 P2= 1.1537

Our Forex Signal this morning:

From: Dave Hughe <plainfx@gmail.com>
Date: Thu, Dec 11, 2014 at 7:32 AM
Subject: December 11
To:
USDCAD Buy 1.1503 SL 1.1459 P1= 1.1527 P2= 1.1537

As you can see, both profit targets have been reached already.

Both trades hit their stop loss orders for +132 pips of profit:

AUDJPY short trade: Sell 98.99 SL 99.61 P1= 98.68 P2= 96.48 (+112 pips)

USDCAD long trade: Buy 1.1471 SL 1.1429 P1= 1.1491 P2= 1.1509 (+20 pips)

Two Forex signals issued today. Both profitable:

From: Dave Hughe <plainfx@gmail.com>
Date: Wed, Dec 10, 2014 at 7:49 AM
Subject: December 10
To:
AUDJPY Sell 98.99 SL 99.61 P1= 98.68 P2= 96.48
USDCAD Buy 1.1471 SL 1.1429 P1= 1.1491 P2= 1.1509

There were no signals on Monday and our Forex signal issued on Tuesday was not triggered.

Our Forex signals made +154 pips of profit this week.