Here today’s video, we took a few trades on the GBPCAD, EURAUD, EURCAD (this one didnt work), and have another order open on the NZDJPY.
Look traders, the moment you think you have finally figured out how the market works, it changes its behavior…
And that’s the reason we always need to be adapting to the market conditions.
In fact, I believe that it is the single most important aspect of trading, not only forex, but all other markets.
So we always need to be evolving, looking for signs about how the market is behaving, and how it is likely to behave in the following days/weeks to come.
We need to gather that information and use it to our advantage.
Let me show you for instance a few charts:
In today’s video we fin a few signals in the EURUSD, GBPCHF, CADCHF and other crosses.
We always talk about strategies, indicators, whether we should go long or short, fundamental releases, etc.
But we never seem to care about the tools and equipment you need to actually take your trades.
And that’s what this article is about… to help you set up a trading station that will actually help you feel more comfortable with your trading.
Here we go.
1 – Monitors
How many monitors do you need to trade?
Today we are trading the GBPCHF (same short as yesterday), the EURGBP and the CHFJPY. We are also waiting for other pairs to trigger our signals.
We are still trading a few of the GBP crosses, including: GBPCHF, GBPUSD and EURGBP. Other pairs also have clear conditions.
Today we are being careful because of the FOMC Statement later today, the market might go like crazy later today.
The markets are very slow today, and trading in a very tight range ahead of the FOMC rate statement later this week.
We are trading the GBPUSD and the EURNZD… both of them are trading in a very clear market condition.
We are still trading GBPAUD, USDCAD and looking for trade on othe crosses.