Hi, after the slow summer period when we only found a few trades a week (most were winners tho :)- this week a load turned up at once.
Just like waiting for a bus,
none for an hour,
then 3 arrive at once!
Pierre had 14 possible trades to consider this week,
So how to trade so many?
Which to take, and which to leave.
I shared in this live session how to trade correlated pairs. This was recorded on Tuesday 1st September 2020
You can find all forex pairs here: forex correlation
I also showed some of the newer members how to use Fibs. If you are not sure see the video or this unit in the free course: Fibonacci
I was asked where I placed my stop on the Cad long that I planned right from June when I first pointed out the potential 1000 pip short Cad move- THAT worked to the pip today!.
Now I have longed it at the bottom as per Sundays and previous weeks analysis. At the time of writing the trade is currently +40 pips in profit. I have moved my stop nearer, to reduce the risk, but I want to give it a little more room to “breathe” as I feel it could be a decent move up.
Thanks not 🙂 to Surinder who pointed out I had screwed up and by mistake, I then closed part of the Cad trade 🙁
New Member Ashley accepted to trade on a funded account.
I will write a more detailed account of Ashley’s success. He is 25 years old and only started trading forex back in February and yet last week he was accepted to join the funded program. He did it by focusing on education and applying and following strict rules.
He has been a pleasure to teach as he always does the “homework” and preparation between sessions and applies what he has learned.
Recently we have been contacted by a lot of “get rich quick” folks who want to know “which system will give me a $1000 a week.” If you want to be successful as a trader you need to have realistic expectations. You will NOT get rich trading a $1000 account and in reality, you are more likely to lose it all if you start trading real money before you know what you are doing.
If you want to trade like a professional and be funded, then share in the profits then you need to act like a professional.
Here are the details for those who wish to become successful, consistently profitable traders:
Build these rules into your trading plan and make it part of your trading DNA.
New members, please note: If I am looking to take a trade long, for example, 1.5000, I place my order 10 pips above & 10 pips below for a short. This is because price often does not quite reach a major line and you need to allow for spreads.
We are NOT a “tipping service” our aim is to teach you how to trade for yourself.
For more up to the minute, updates do not forget to drop by the forum.
Watch the video for more detailed explanations of this week’s detailed analysis and trade plan.
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