Don't You Hate it When This Happens!

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Oh baby!  The Dow down 500 points today with oil under $100 per barrel for the first time in awhile.  Markets are definitely moving and should give us forex traders some great trading opportunities.

Speaking of which, check out this chart.  I had the box lined up and everything but I couldn’t pull the trigger.  I was staring at it right after it broke out of the box and was considering going long.  Then in the next 10 minutes,

the price proceeded to jump 50 pips, then 100 and now as you can see I would have been up about 400 pips if I had taken the trade.

I guess this goes to show that I need more practice on this squeeze box trade to get comfortable with how it sets up and sometimes breakouts that don’t look the best, in fact have some of the best results.  I just have to trust the signal.  One reason that I was apprehensive on this trade was that the price was nearing monthly highs.  Look at this thing…textbook!

Damn it!  One good thing that I can take away from this is that I am spotting the setups.  I now have to learn to pull the frickin’ trigger!

In other news, I got my Trader Monthly magazine today!  It is always fun to read.  This is the 30 under 30 issue with John Chiang and friends on the cover.  It’s the ‘Token Asian’ issue.  Don’t worry, I’m Asian.  Somehow that term always amused me.

Anyway, it is a fun issue as usual with plenty of toys and exotic destinations to look forward to.  These guys are amazing though, under 30 and just killin’ it!  Definitely motivating.