In the Confessional Booth with ForexDiva, Volume 280310

Charts ahead... skip my je ne sais blah if you desire...

A few weeks back, I had a financial nervous meltdown that left me questioning my identity, my dignity, and just my life in general. It was then that I realised that my liquid assets are now higher than my liabilities. It was then that I realised that if I never lift a finger again in my career outside of trading, I would probably have a more impressive career/life than most people get to experience in a lifetime. It sounds so TETSOB, but it's kind of true, especially given my sob story of a childhood. Oh, it wasn't Poor ForexDiva... Daddy couldn't buy her a pony type sad. It was why did my Dad have to gamble away our future type frustration plus why did I have to get the blame type abuse. That's why I'm not into Chinese guys - because they always take miscalculated risks.

I had to recently force myself to watch Precious because I knew it would make me feel better about my own childhood and realised on some level, anyone could relate to that type of a scenario because people are just so cruel to one another. And I succumbed to the pressure of not having any more excuses and I broke down. What if there wasn't going to be more for me? What if this is it and I'll never do any better - never be any better? It's good, but it's not enough because when it comes down to it: why didn't I have more assets to show for my efforts? Anyway, I had another mini-nervous breakdown this week and there will be others to follow...

One of the reasons I actually dusted off my feather dusters and got back into trading was that I read an inspiring article by Boris Schlossberg: Better Never Than Late. It got me thinking about the whole flight vs. fight thing and I thought to myself... is my instinct flight or fight? Am I really going to be a FWF to myself, my portfolio, my financial future? Of course, the mention of Salvatore Ferragamo always gets my attention too. I want Hermes and a lifetime of it. For God's sake, I want Harry Winston!

So, I got back in gradually and I promised myself I would take it slow and opt for open relationships with all my investments. However, it was not slow enough. This recent GBP/USD trade I've been in left me more scared than I should be. I once again allowed my emotions to control me.

My forex trading account is so small that if I threaten to trade with another forex broker, my broker would probably roll out the red carpet and tell me: There is a God! Please don't let the retracements hit you on the way out. So why am I so scared about every little pip?

I've made so many mistakes on this GBP/USD trade, but the biggest one was doubting myself and then not admitting my mistake. No one wants to admit they've dug their own grave. When you make a wrong turn, it's easier to turn back right away than if you deny having made the wrong turn and keep driving in the wrong direction.

I knew that after FOMC, a long GBP/USD trade was going to be like a hot stove. You're not supposed to touch a hot stove, but I was bimbo and I tried touching it to see if it was really as hot as it looked. It was! Now, I got in because of a Daily chart setup. I noticed that the 1.48 area was a good level to buy, but I lost my discipline and I tried for pips at 1.5144. It flopped and it affected me emotionally. I was all needy and desperate again.

But I think for the first time in over a week, the bullish signals I'm seeing on GBP/USD are fact and not illusion. There are bullish divergences on the 15 minute MACD and RSI indicators together with a classic ascending triangle formation. Plus, on the Daily chart, there's an RSI bullish divergence. Here are the charts...

Will I be running some stops? Hopefully - and I apologise in advance! Let's go, Guys of London!! You guys look like you've been working out... So alpha... so Tall European Men... and hopefully so Toe-Curlin' Wake the Neighbours Type Smokin' Hot Profitable...

US GDP failed to please last week and we saw a close at about 1.49, so watch out for the UK GDP announcement on Tuesday, 30 March 2010. We're going to have some Happy Shiny Profit Taking - hopefully involving moi...

GBP/USD 15 minute...

GBP/USD Daily...