{"id":215494,"date":"2020-01-03T11:58:55","date_gmt":"2020-01-03T11:58:55","guid":{"rendered":"https:\/\/www.forexmentorpro.com\/blog\/?p=215494"},"modified":"2020-01-05T12:14:25","modified_gmt":"2020-01-05T12:14:25","slug":"live-session-forex-trading-ideas-for-2020","status":"publish","type":"post","link":"https:\/\/www.forexmentorpro.com\/blog\/live-session-forex-trading-ideas-for-2020\/","title":{"rendered":"Live Session: Forex Trading Ideas for 2020"},"content":{"rendered":"

Hi, in yesterdays live training session I explained why Pierre & I are waiting until Monday before starting to trade.<\/p>\n

This exact day last year there was a BIG spike on a lot of pairs including a 400+ pip one on the $\/Yen.<\/p>\n

This often happens when there is thin liquidity.<\/p>\n

As there are a LOT of traders still on holiday so things are not likely to improve today, in fact it could well be another wild ride today.<\/p>\n

The $\/Yen has this week, broken a major trend line and is dropping now, so there is a chance that history may be repeating itself!<\/p>\n

This screenshot is from the 3rd January 2019:<\/p>\n

\"\"<\/p>\n

Over the holiday period, I cautioned against getting sucked into buying or selling breakouts, particularly the Aud & Nzd, both of which have turned back down. Hopefully, that kept you out of losing trades.<\/p>\n

In the session I explained my bias remains the same on most pairs, for now at least: I still only want to sell the Aud, Nzd, Euro\/$, Euro\/Gbp etc as nothing has changed technically nor fundamentally when compared against the Usd.<\/p>\n

Often the direction for the year ahead does not become clear until after Martin Luther King day in the USA which this year is on the 20th January.<\/p>\n

In the meantime make a plan for the year ahead. If you are currently losing or not making a great deal then review your past performance. If you are doing great this still makes sense, all of us have bad habits and there is room for improvement and development.<\/p>\n

What you did right and wrong in 2019 and then make a plan to move forwards in 2020.<\/p>\n

Last week I posted a checklist for you to follow to help you with this: https:\/\/www.forexmentorpro.com\/blog\/trade-the-plan\/<\/a><\/p>\n

There is also my usual advice in the members area for treating trading like a business and the steps you need to follow in the “Preparation module”<\/p>\n

Finally, you need some trading rules and a clear structured plan and routine to follow every week. That is what all professional traders do, including Pierre and myself.<\/p>\n

Create a plan, structure and clear rules, weekly analysis, trade the plan. Rinse and repeat, it’s no more complicated than that, BUT you need to do the preparatory work and then apply it!<\/p>\n

I will be back with you on Sunday with my detailed analysis for next week, in the meantime get making those plans for a successful trading year!<\/p>\n

regards<\/p>\n

Marc<\/p>\n

If you would like to learn how to trade like a professional check out our 5* rated forex mentor program, RISK FREE; by clicking on the \u201cGet Started Today\u201d Button below<\/strong><\/p>\n

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