Learn how to trade forex while travelling

by Marc Walton | Jun 22, 2023 | Forex Analysis

Travelling

Hi everyone,

You need to learn how to trade forex while traveling. It is an essential skill that will help you to continue trading even when you are not watching the charts.

Im traveling to Spain today and going to be on a bus journey for about 3 hours. So if I was going to have any trades or forward orders I would need to make a plan in advance so I’m comfortable and not worried about it while Im traveling.

When you are traveling you need to make sure you do not have too many forward orders. If there is Red flag news and most of them fire all at once, you will risk more than the original account size. This is not good if the positions are going against you and will lead to damaging your account.

I have shown you how I have managed my winning trade on the NZDCAD. It is currently 135 pips in profit, ill be looking to take some profit as I do like scaling out of trades. I have already moved my stop locking in most of the profit as I have shown in the video. So the rest of it is free chips in a casino.

On the other hand I took a short on the USDCHF, I explained in the video I didn’t have multiple reasons for the stop, but I had taken it based on the 4 HR. There is CHF news tomorrow and I’m traveling so I didn’t want to leave that position open. Also, I didn’t feel like it was an A-grade set up and it is just consolidating, So I closed the position. No point trading something when you are not sure. When in Doubt clear it out!

The YEN pairs are too far away so not touching those for now.

Also, you have the GBP rate statement tomorrow so make sure not to enter any GBP trade until the news and gov Bailey speaks. All the indicators on the CPI came in higher than expected today which is not good for the GBP. I wouldn’t be surprised even if BOE raises the interest rates by 50 bps instead of 25 bps. They still have much work to do to control inflation and recent data shows they have not done enough.

If you haven’t done so please like share and subscribe to my channel to get more tips and tricks on forex, that would be very helpful 🙂

Kind regards,

Marc

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