This week’s signals resulted in -119 pips loss.

The volatility in Forex changes all the time. But to make money, you need prices to move. Therefore it’s not such a bad thing.

Also, different currency pairs have different volatility.

The data is provided by your broker based on the interbank market and it can slightly differ between brokers due to spread differences.

There are many different tools in technical analysis designed for different purposes. Think of them as your toolbox. In real life you need different tools to perform different tasks and therefore you need a set of tools to complete a job. In pretty much the same way you need a set of technical analysis tools to develop a consistently profitable trading system.

It’s possible to build a house using only an ax but a much better house can be built using a variety of tools. The best results are achieved by using different technical analysis tools for confirmations.

For example, I find trade candidates based on the price action and use indicators and oscillators for trade confirmation.

The formula is pretty simple:
1. Learn theory.
2. Practice and experiment on demo.
3.  Develop your own trading system. You can use someone else’s system but you still need to adjust it to your schedule and personality.
4. Once you are consistently profitable on demo, start trading real micro account.
5. Work on your trading psychology and attitude but do not try to be someone else. Work around your weaknesses. If you are too emotional, use mechanical systems. If you like to take your time when deciding, do not trade 1-min. charts. And so on and so forth.

If my home garage is packed with different tools, that still doesn’t mean that I can build a house. Heck, that doesn’t even mean that I can hang a TV on a wall properly.

Tools are just that “tools”. They provide means for the job. Even knowing when and how to use your tools is still not enough to complete a job. You also need a plan and the right mindset.

I believe this to be true for any endeavor in life. If your plan is sound, you properly use right tools and control your emotions, I don’t see why you should fail. But you must follow your plan. For most people that’s the hardest part.

It depends on the trading system. When considering holding positions overnight, it’s important to take into account additional expenses such as interest, swaps, etc. charged by your broker.

This week’s total trading results was negative -123 pips loss.

The total Forex Signals results this week is a net profit of +182 pips.

Our USDCAD short trade today made +154 pips profit

We issued two signals today:

1. USDCHF short sell, result: break even

From: Dave Hughe <plainfx@gmail.com>
Date: Fri, Mar 11, 2016 at 9:02 AM
Subject: March 11
To:

USDCHF Sell 0.9838 SL 0.9875 P1= 0.9811 P2= 0.9801

Later the stop-loss orders were updated and triggered:

From: Dave Hughe <plainfx@gmail.com>
Date: Fri, Mar 11, 2016 at 10:09 AM
Subject: USDCHF SL BE
To:

2. USDCAD short sale, result: +154 pips profit

From: Dave Hughe <plainfx@gmail.com>
Date: Fri, Mar 11, 2016 at 9:26 AM
Subject: New order
To:

USDCAD Sell 1.3246 SL 1.3281 P1= 1.3206 P2= 1.3186