About

I’m Matt, and this is Matt’s Awesome Trading Blog.  I’m a currency trader guy who trades currency, and most of what you find here will relate to trading in one way or another.  I’ve spent a great deal of time figuring out how to make trading as easy for myself as possible.  As I share what I’ve learned along the way, it is my hope and intent that that you’ll be at least mildly entertained and just possibly, use something I’ve written here to make a little more money, lose a little less, or just have more awesome days.

10 thoughts on “About

  1. Dino Axeman

    help with taking profit:
    i tend to look for with trend entries, these take a while to reveal themselves (ex: i’m currently short Eur/Usd on daily chart) so i find it hard to rationalize taking profit (small lot size)
    would you recommend a take the money and run approach with re-entry (if/when) vs. hold until reverse “signal” appears

    Reply
    1. mlacoco54 Post author

      I tend to take profit when the behavior that got me into a trade changes. Personally, waiting for a reversal “signal” appears is just not my style. Sometimes they don’t appear until wiping out half or more of my unrealized profit, so I prefer to take it at the the early signs of slowing down.

      … Most of the time.

      If a trade has gone far enough in my direction that I’ve got some profit locked in and managing it on higher timeframes, I will give it more room and shut it off when I’m convinced that’s it’s now going the other direction.

      It all depends on what you’re after from a particular trade. I’m usually out well before a move is over, simply because I got what I wanted before price stopped. Knowing what I want before I get into a trade helps me avoid wondering what to do when there’s money on the line.

      If I had a more systematic approach however, I would endeavor to be consistent in the application of that approach. Meaning I’d want some sort of consistent reason for taking profit.

      Reply
  2. fxoutlier

    Matt I received my first email today 22 March was wondering if I’d missed any previous emails and if so could I gain access? Tried to reply to email but a spam filter blocked me, so excuse me for asking here.

    Reply
    1. mlacoco54 Post author

      No sweat! Today was the first… Sorry bout the spam nazi filter, I think it just blocks everything haha! There will be more to come as I publish more technique-centric content, be on the lookout!

      Reply
      1. Bill Walz

        Matt
        Do you work with traders at all? I primarily use grab candles to enter and use it on longer term charts. I would like to move to shorter timeframes and could use help tuning up my process!!!

  3. eric

    Hey Matt,
    Thanks for the blog, I have heard about you for years while listening to other people in the FX industry. I hope that I do not sound too direct or invasive, I am just curious.
    Do you use a specific trading method? The blog post I saw you had described breaking charts down from 4H to one minute and entering there once a 1 Hr signal was in play. I also saw where you described a quick exit upon entry and another where you mentioned no stop loss at all. Im new to your blog, and I’m very grateful for any insight that you may possess. Thank you for your time and effort in putting this blog together and I sincerely hope that fortune continues to follow your trading.

    Warm regards,
    Eric

    Reply

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