Monthly Archives

October 2017

What a great day in the LIVE trading room lloks like!

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  1. News trading system sold GBPUSD at 1.3262 with a 30 pip stop following the UK CPI data. GBPUSD declined 100 pips!

 

 

 

2. BOE’s Ramsden and Tenreyro testified before BOE Governor Carney and both of them were dovish. Decided to sell GBPUSD when Carney began speaking; the thinking was if his two underlings and talking dovish is likely Carney will as well; and when the market hears it :from the horses mouth” the GBP will timble; which it did; it dropped 96 pips!

 

 

3. The daily TRADFINDER trad idea was to buy USDCAD; USDCAD opened 1.2518pair reached its 1.2581 daily target

 

What Smart Forex Traders Do

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What Smart Forex Traders Do

  1. Bet enough to make their winnings meaningful
  2. Get in on news that moves the market
  3. Tweak their systems to allow for one time market peculiarities
  4. Take action and make money when they have a good trade idea

 

Bet enough to make their winnings meaningful

If your trading account is $1,000 you can’t limit your losses to 2% of your account because that’s only $20; how much can you realistically expect to win (profit) from a $20 bet?

A bet size of $50 would at least give you a chance to make a meaningful profit.

 

Get in on news that moves the market

Market moving news offers outstanding opportunities to risk a little and make a lot. The trick is to not be afraid to get in right away even if the pair moved a lot in the first few seconds following the news.

 

Tweak their systems to allow for one time market peculiarities

The attractiveness of exact trading systems is understandable; what’s not understandable is letting a great trade get away because it’s a pip or two outside your systems parameters.

 

Take action and make money when they have a good trade idea

Just do it. If you’ve done the research and analysis and everything looks good don’t let it get away by making excuses for inaction.