Challenging Market Conditions But...


CHIN UP - Yes. It sucks. At no point in my career has it been this difficult. But I love it and will push through. As bad as it's been, and it's been a brutal run since May, the gains from January through April have managed to offset. This has been an exceptionally challenging environment and yet, again, this is the way things go.  I am frustrated of course, but I am not discouraged and am simply looking forward to getting back into the groove and looking back at this block of time a few months out. 

LOW LEVERAGE - More importantly, I'm looking forward to showing you how important it is to believe in yourself and push through. When you might think it's the end of the world, it isn't.  Things have a way of turning around awfully quick and all of a sudden the sun is shining again and it wasn't all that bad. That's the special stuff and that's where we really learn about who we are. Additionally, the fact that it has been a nightmare on the trading side and we are flat this year is also a good lesson that trading with low leverage is imperative. It is a MUST! They may not happen often, but there will be periods like these where it just won't go your way. If you are leveraged too much, you will be done!

Many of those US Dollar stops that were sought out were finally cleared on Wednesday. Via @joelkruger

CLEARED OUT - I had written in the Wednesday piece how nothing US Dollar supportive would come from the Fed decision and that's exactly how it played out. The market wants to keep slamming the US Dollar and both the Fed and US government are fully supporting this trend. I believe there are external factors that will inspire a reversal in the US Dollar's favor and I believe these technical readings will also help to produce this result. After the Fed, we saw many critical levels taken out that should at least satisfy those who have been selling US Dollars to trip up those stops that are finally out of the way. The Euro cleared its 2015 range high at 1.1715, AUDUSD broke through 0.8000, NZDUSD pushed up above 0.7500 and USDCAD sunk below the 2016 low at 1.2460. So that case for reversal is even more compelling now.  


Euro Battles around 1.1700

The Euro keeps dipping below 1.1700 but has refused to breakdown thus far. 

PRO

JKonFX Journal Performance 2016

+59.18%


+25.46% (2015) and +8.94% (2014)


Learn how to trade the Forex market.

Take a Tour

Choppy Waters Out There

When one time frame isn't showing a clear trend, change the time frame until ...

Read & Watch