Hi, this was a short video and supporting notes showing Over 400 Pips Of Winning Forex Trades profits in just a few hours that I made for members a few days ago.
During our weekly live training session I had shown the possible setups and how to trade them.
On Wednesday we had one of those special trading days when everything fell into place and there were over 400 pips up for grabs in just a few hours trading. That’s it, job done for the week 🙂
These have been as a result of using the combination of my M2 and Pierre’s Earth & Sky as per lots of recent blog posts and yesterdays live training session.
Usually,I prefer to trade from weekly and daily charts, but as the currency markets have been so volatile recently and I need to make a living I have combined a number of methods. It’s more time consuming and day trading has different challenges, but its successful.
At the time of writing these were the scores on the doors 🙂 a lot of pairs went further, but are now pulling back.
Remember this is day trading, the pro trader has taken his money for the week and now left the building.
If you are trying to catch a big one and stay in then at the very least get your stop to entry. I prefer to then take some profit and leave the balance to run IF I feel it has further to go. By having the stop to entry + 2pips (for the spread) you will at the very least avoid seeing a winner come back and lose. This all depends on your risk tolerance and psychology.
You can not of course, take them all, but these are the total moves (so far) on the pairs I was watching:
Cad: + 130 pips
Aud: +70 pips
Aud/Yen: +70 pips
Euro/$: +25 pips
Chf: +25 pips
Cad/Yen + 85 pips
Gbp/$ +80 pips
As ever it’s not been all plain sailing. The Aud short from yesterday took me out for a loss overnight by a fraction of a pip, because of the spread, and this morning dropped 130 pips 🙁 🙁 forex is THE most frustrating thing you will ever do!
I show in the video those I took, those I left and why and how I am managing the Cad. It is currently over 100 pips in profit and trying to stay above the major 1.4000 area. There is US retail sales news at the New York open, then this afternoon at 15.00 London time, Cad interest rate release, statement and press conference. I am going to take some profit off and leave the balance to run through the news. It should be risk-free and if the Cad news is really bad we could see a BIG surge back up.
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 members-only forum.
Watch the video for more detailed explanations of this week’s detailed analysis and trade plan.
Click on the square button bottom right to watch in full-screen mode
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