Trapped Traders®: #NFP, #USDCAD, #NZDUSD

Many years ago, there was a book called “The Rat Trap” written by a Swedish writer Selma Lagerlof. It’s an interesting story that reads like a fairy tale.

The rat trap seller was a homeless tramp, who stayed the night as a guest in the cottage of a farmer. The lonely farmer entertained his guest like a trusted friend, but the next morning, the peddler came back, smashed the window and stole the farmer’s money.

This story reminds me of a common problem we face as traders.

Why it is that when you take a breakout trade, price always seems to reverse against our positions? We either get stopped out or even worse, lose lots of money.

It’s almost like getting caught in a rat trap.

Trapped Traders® is a daily publication designed by Forex Traders Daily all rights reserved. We encourage traders/investors to review Mark Chapman’s trading methodology; Trapped Traders.

José Ricaurte Jaén is a professional trader and Guest Editor / community manager for tradersdna and its forum. With a Project Management Certification from FSU - Panama, José develops regularly in-house automated strategies for active traders and “know how” practices to maximize algo-trading opportunities. José's background experience is in trading and investing, international management, marketing / communications, web, publishing and content working in initiatives with financial companies and non-profit organizations. He has been working as senior Sales Trader of Guardian Trust FX, where he creates and manages multiple trading strategies for private and institutional investors. He worked also with FXStreet, FXDD Malta, ILQ, Saxo Bank, and AVA FX as money manager and introducing broker. Recently José Ricaurte has been creating, and co-managing a new trading academy in #LATAM. During 2008 and 2012, he managed web / online marketing global plan of action for broker dealers in Panama. He created unique content and trading ideas for regional newspaper like Capital Financiero (Panamá), La República (Costa Rica), Sala de Inversión América (Latinoamérica) and co-developed financial TV segments with Capital TV. He is a guest lecturer at Universidad Latina and Universidad Interamericana de Panamá an active speaker in conferences and other educational events and workshops in the region. José Ricaurte worked and collaborated with people such as Dustin Pass, Tom Flora, Orion Trust Services (Belize) and Principia Financial Group. Twitter Linkedin