Peter Bain Forex Trading Commentary for Thursday August 17, 2006
Since I will be on holidays until August 22nd, I have asked some of our Forexmentor members to fill in for me on the AM Reviews. Today's AM Review is by Seth Gregory who is not only the man behind the PM Preview and the Know Where You Live Risk Managment Toolkit but also manages a forex managed fund. Please read his thoughts with care and I will see you when I return. Good luck with your trading.
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Forexmentor.com Forex Trading Price Action
I am happy to report that mama and baby are both healthy and doing well.Thank you for all of your supportive emails, prayers and considerations.
Even though I posted some information in the PM Preview Blog earlier in the week that worked out nicely- I did not trade it. Even when you can see the market clearly does not mean that you should always trade it. I received a call that my wife was on the way to the hospital to give birth to our baby girl as I was finishing up the Blog posting.
Had I entered the trade do you think my focus would have been where it was most important? - No! That would have been bad for my family, which would have been bad for my trade. Even when you see a great trade and a great entry for it- trade management and money management are key to making it successful and they require a very large amount of focus. I would not have been able to effectively focus on them if I entered the trade and may have damaged my family life. Yes, I missed a beautiful 150+ pip run but I did not miss anything about the birth of my beautiful baby girl - please always keep the important things in life in their place.
See today's chart at: http://www.forexmentor.com/campaign/aug1706.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
Seth Gregory
(filling in for Peter)
forexmentor.com
***********
Forexmentor.com Forex Trading Price Action
I am happy to report that mama and baby are both healthy and doing well.Thank you for all of your supportive emails, prayers and considerations.
Even though I posted some information in the PM Preview Blog earlier in the week that worked out nicely- I did not trade it. Even when you can see the market clearly does not mean that you should always trade it. I received a call that my wife was on the way to the hospital to give birth to our baby girl as I was finishing up the Blog posting.
Had I entered the trade do you think my focus would have been where it was most important? - No! That would have been bad for my family, which would have been bad for my trade. Even when you see a great trade and a great entry for it- trade management and money management are key to making it successful and they require a very large amount of focus. I would not have been able to effectively focus on them if I entered the trade and may have damaged my family life. Yes, I missed a beautiful 150+ pip run but I did not miss anything about the birth of my beautiful baby girl - please always keep the important things in life in their place.
See today's chart at: http://www.forexmentor.com/campaign/aug1706.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
Seth Gregory
(filling in for Peter)
forexmentor.com
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