Once we have the currency pairs that we are going to monitor/trade, we need to have a trading plan for each one of them. In this video I show you how to create a trading plan, the exact rules to apply it, and more.
Here is the trading and analysis session of today, we talk about the best trade opportunities there are today.
In this session we look for trade opportunities and analyze a few of the clearest currency pairs to trade right now.
In this video we discuss the rules that you need to follow in order to choose the right currency pairs to trade.
We discuss the exact rules that you need to use to draw effective support and resistance levels on both, the short term charts and the long term charts.
We discuss several trade opportunities using the price action methodology.
Here is the recording of the first coaching session, we just talk about the way we are going to be working together, what to expect from the coaching program, about the strategy and more.
Hey traders, what are you up to?
I just wanted to ask you about the currency pairs are you currently trading?
There are days that is kind of difficult to find trade opportunities, on those days, we need to trade the least we can. Because our job is not to trade everyday, but to trade only when the odds are on our favor.
But today is different, there are plenty of opportunities out there, both, short term and medium term opportunities.
I’m going to focus only on the short term charts, but as you already know, the most important aspect of trading is how you choose the instruments you trade.
Get that right, and you’ll have 80% of the job done!
So I’ve already done my long term analysis on each one of the opportunities below, but in this article, I’m just going to focus in the short term charts.
Hey trader, how is everything?
I believe that the most important aspect of trading is how you choose the currency pairs to trade and when to trade them.
You determine what currency pairs to trade by using the long term charts, and you choose when to trade by using the short term charts.
So at the end, its a combination of the long term and the short term charts.
But there is also the possibility to see for instance, clarity in the long term charts, but you need to wait for the short term charts to clear up a bit, or wait for clearer levels, or wait for the market to break certain levels, etc.
On the other hand, when you see both timeframes in line its time to open your trades/orders. That’s our main goal, we need to trade only when the odds are on or favor, and you know when that happens right? When both timeframes are in line.
Now, I’d like to share with you a few guidelines about the way I do my analysis and how to follow it.
How is your trading going lately?
You know what is what I like most about the Forex market?
There are plenty of currency pairs and most of the time, you’ll find a few good opportunities.
And if you have been following me for a while, you know that the key to get good results on any market is how you choose the instruments to trade.
You could be using the best entry system in the world, but you are trading the wrong currency pairs, the market will move against you.
On the other hand, if you have an average entry system, if you are trading the right currency pairs, sooner or later, the market will move on your favor.
That’s the reason I think you should spend at least 80% of your time analyzing and choosing the best currency pairs to trade and only 20% actually looking for your signals.
Remember that: 80% analyzing, and 20% actually trading.