{"id":215258,"date":"2019-03-11T12:44:44","date_gmt":"2019-03-11T12:44:44","guid":{"rendered":"https:\/\/www.forexmentorpro.com\/blog\/?p=215258"},"modified":"2019-03-11T12:59:00","modified_gmt":"2019-03-11T12:59:00","slug":"trading-not-gambling","status":"publish","type":"post","link":"https:\/\/www.forexmentorpro.com\/blog\/trading-not-gambling\/","title":{"rendered":"Trading Ideas & Trading Not Gambling"},"content":{"rendered":"

\"\"Hi, this is an example of the detailed analysis I share with members each week.<\/p>\n

I show them what I am intending to trade and why using our methods.<\/p>\n

Where ever possible I place orders at the market open and walk away.<\/p>\n

Other than that I trade mainly from the end of day candle closes.<\/p>\n

So if you are wanting to learn how to trade around a day job OR you just don’t like sitting at a screen all day, then check this out \ud83d\ude42<\/p>\n

 <\/p>\n

Well we wanted some movement and we got it!<\/p>\n

Well done to new member Justin for spotting a good set up on the Chf Yen.<\/p>\n

In the live session, Justin asked me to have a look at the technical side of the setup.<\/p>\n

He has been trading from a more fundamental perspective.<\/p>\n

I had a look for him and there were MULTIPLE technical reasons for the entry stop, risk reward and target. Hopefully, you caught it too! Technically & fundamentally it was a great trade.<\/p>\n

Try to get to the live sessions. We show in real time what we are looking to trade and are happy to analyse any setups you may have found.<\/p>\n

I also showed a Euro\/Cad trade that I had entered short, but that I had hedged the position rather than place a stop. In doing so I avoided a 1% loss and then won 1%. This is definitely NOT for rookies nor is it to be used in everyday trading. See the previous weeks recording as to how we do it. I will show you in the live session what I did.<\/p>\n

Trading Not Gambling<\/h3>\n

There was a lot of Aussie news last week this week less so BUT its Brexit again & this week is a potential D-Day scenario. See the video and this article for whats coming up,<\/p>\n

https:\/\/www.bbc.com\/news\/uk-politics-47482047<\/a><\/p>\n

It’s my birthday so shorter notes than usual, see the video for all my thoughts and ideas.<\/p>\n

Please note I recorded the video and these notes on Saturday, so any dramatic changes to the news on Sunday we will have to revise the plan.<\/p>\n

The key to successful trading is how MUCH you win, not how many.<\/em><\/strong><\/h4>\n

<\/h3>\n

Trading Week Ahead<\/strong><\/h3>\n

News<\/h4>\n

Brexit, brexit, brexit………….. You have been warned.<\/p>\n

As ever check the calendar before taking any trades:\u00a0https:\/\/www.forexfactory.com\/calendar.php<\/a><\/p>\n

Keep up to date with various news sites like\u00a0http:\/\/zerohedge.talking-forex.com\/live.html<\/a>\u00a0&\u00a0Bloomberg\u00a0<\/a>to name a few.<\/p>\n

This site is good if you are wanting to check Brexit updates before trading the Gbp\u00a0https:\/\/www.newsnow.co.uk\/h\/<\/a><\/p>\n

+++++++++++++++++++++++<\/strong><\/em><\/p>\n

Euro\/$<\/strong>: I said last week that thought it was more likely to drop after the ECB news and I would wait until price broke below 1.1250 which it has now done. I am interested in a pullback to short at 1.1300 but this is also affected by Brexit and I am struggling with where to place the stop.<\/p>\n

I said “If the news is particularly bad this could be on its way back to 105.00 and lower” and that remains the case. Any Brexit no deal could see it drop quickly.<\/p>\n

Any positive news re Brexit or more talk of a new referendum and it could just shoot up (same for the Gbp)<\/p>\n

Aud: <\/strong>I will be looking to short at 0.7200 Intraday watch 0.7150 but I need multiple reasons for the stop and don’t have them now.<\/p>\n

Aud\/Yen:<\/strong>\u00a0Keep your eye on the $\/Yen and Nikkei for clues- see the video. <\/strong><\/em>It broke the lower channel line. 79.30 to 80.00 is the “area” I am looking to short<\/p>\n

Aud\/Cad:<\/strong>\u00a0I feel more confident to short at 0.9590. Watch 0.9550 intraday.<\/p>\n

Nzd\/$ Still the same. Currently stuck in a 200 pip range. <\/strong>Intraday look for shorts at 0.6900.<\/p>\n

You could counter trend long the bottom of the range at 0.6720 until or unless it breaks the range, but it’s riskier now after last weeks trade figures.<\/p>\n

$\/Yen: <\/strong>Pulled back If it pulls back to 110.20 I am interested to long.<\/p>\n

Euro\/Yen:<\/strong> Broke the channel. 125.00 to 126.00 is the area<\/p>\n

$\/Sgp:<\/strong>\u00a0I said last week “Interested to short at 1.3600” I did, looking to take it again.\u00a0 If it breaks and closes above there on a daily it’s a possible inverse head and shoulders pattern (thank you, senior member, Nieta \ud83d\ude42 – so then we think of an M2 pullback to long!<\/p>\n

Cad:\u00a0<\/strong>Keep your eye on oil prices for clues. I am interested to long on a pullback to 1.3150 and also will watch 1.3260 another strong area.<\/p>\n

Nzd\/Cad: An M2\u00a0<\/b>break and close below 0.8900 or if it moves back up is a short at 0.9250 a \u201cposition trade\u201d short.<\/p>\n

Euro\/Aud:\u00a0<\/b>Position trade short again at 1.6340, long at 1.5200. intraday watch for price to slow down\/long at 1.5750<\/p>\n

Euro\/Nzd<\/strong>: Looking to short at 1.6880<\/p>\n

Euro\/Gbp:\u00a0<\/strong>Its messy with Brexit but 8830 is a major area from last year and multiple reasons now for a possible short<\/p>\n

GBP\/$: <\/strong>Leave it alone and all gbp pairs for the next few days.<\/p>\n

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 \u201ctipping service\u201d our aim is to teach you how to trade for yourself.<\/p>\n

For more up to the minute, updates do not forget to drop by the forum in Pierre\u2019s corner.<\/p>\n

Watch the video for more detailed explanations of this week\u2019s detailed analysis and trade plan.<\/p>\n

Click on the square button bottom right to watch in full-screen mode<\/p>\n

 <\/p>\n