How To Trade Forex
Good day to you fellow Traders
What a beautiful start to the second half of the trading year, let us look at some of the basic fundamentals of how to trade forex today. Our first LTA after the summer doldrums with profits banked and stop at break even. Chart provided explaining exactly why we were looking at the trade from the fundamental and technical perspective. SMS text sent out to our clients, order set along with an alert set – 15 to 20 Pips before the level.
- Short term shift in Governor Stevens comments giving us a fundamental bias
- Perfect chart
- Perfect entry level
Here is what was written on the live trading floor along with chart provided ahead of time
“TRADE A) Long AUD/USD @0.7350 or nearest buying zone with 35 pip stop, target will be 0.7580
Now do we need to do anything more than this? Where looking at a 230 pip trade; now believe me, we are going to be doing this on a regular basis for the remainder of 2015. Trading bank supply and demand levels is a very lucrative way to trade when implemented correctly. The understanding of how the markets function and why certain price levels are important is a crucial part of trading success. Learn more about this in our Forex Trading Courses at Platinum Trading Academy.
We have caught the very bottom of what is potentially the right shoulder of a reverse head and shoulders, this is called presumptive trading and something retail traders struggle with. The Majority of Forex traders will wait for the right shoulder to form when the professionals are already in the trade and banking Pips. All our analysis is prepared Sunday with the charts drawn ready to be published Monday morning
We plan all our trades on Sunday when the markets are closed and post early Monday morning, now how many of you plan your trades Sunday afternoon or even plan them at all. Professional trading is about pre-planning and when our plan created ahead of time falls it to place we execute with such confidence and clarity there is no second guessing. Most retail traders open the charts and then hunt for a trade, ultimately this type of trading ends up with inconsistent results because they have no plan, no methodology and have no understanding or presumptive trading, planning the trade ahead of time.
Please watch our trade of the day video from yesterday to gain a greater understanding of the trade an to learn how to trade forex.
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The information you’ll find in this article is for educational purpose only. We make no promise or guarantee of income or earnings. You have to do some work, use your best judgement and perform due diligence before using the information in this article. Your success is still up to you. Nothing in this article is intended to be professional, legal, financial and/or accounting advice. Always seek competent advice from professionals in these matters. If you break the city or other local laws, we will not be held liable for any damages you incur.