Archive Monthly Archives: December 2016

Forex Trading Reflections 2016

Can you believe that another year is almost over? This is a time that we all tend to reflect on different areas of our lives, where we are, how last year turned out, and changes we are committed to making for next year.

I hope that this video will inspire you to take the action necessary to make the changes you want to see when it comes to trading the forex markets. In this video, I cover 2 emails that really get to the heart of trading, and what we do in the Coach’s Corner. I think these are excellent in terms of getting you to contemplate your own trading. Take a look:

It’s never enough to “wish” for something to change, or to “hope” it will change. It always takes committed action of some kind. I really hope that this video inspires you to at least consider the gap between where you are with your trading at this point, and where you want to be. If you’re ready, we can help you fill that gap as we have done for so many others.

I also want to thank all of you for taking the time to listen to my forex videos each week (and the ones that Sarid has done too)! We truly hope that they help you in your development as a trader, and look forward to providing more weekly videos in the New Year

How To Increase Your Forex Reward/Risk Potential

If you have 4 ½ minutes to spare, and you want to know how you can ramp up your account size more quickly, this week’s video is one to watch!

My Coach’s Corner partner, Sarid Harper, will walk you through the process of price analysis, and illustrate how you can greatly increase your reward/risk potential by learning how to reduce your pip risk…quite easily.

The advantage of taking on a trade with less pip risk is that you can trade more lots with the same account risk…hence the potential for a more rapid account growth.

[Coach’s Corner] Discover the latest Pipnotic Software Features withMyFXBook Results…

Our Coach’s Corner service continues to improve year after year, and this past year was no exception. At the beginning of 2016 Sarid Harper became a co-host of the CC and he has really made some great contributions to our trading community.

On Wednesday December 7th, we be provided an update on the latest enhancements to the CC service, and presented those updates in a free webinar. You can join listen to it here:

As an expert in software development, Sarid has come up with some very cool new features to the Pipnotic Supply/Demand software, the latest being an automatic trend line drawing function, which he illustrated at the webinar, showing how it works, but most importantly, how you can use it to find high odds trade setups.

In addition, we tell you all about our Myfxbook account, where we post all of our trades – in advance – for our CC members, and we show you what that looks like.

There are so many other benefits to being a CC member, and we hope that this webinar will help answer any questions you might have if you have been thinking about becoming part of our like-minded community. However, if you still have any questions…all you need to do is ask!

http://www.forexmentor.com/vid.php?v=/webinar/120716

What is the Best Way to Manage Your Forex Trades?

I can’t emphasize enough what an important factor trade management is. How you manage your trades once you’re in them can make all the difference. It can literally turn your trading around to the positive.

This past week, one of our Coach’s Corner members (who is a very good trader) did an exhaustive study, where he tested various ways to manage trades, and in this week’s video I’ll talk about his findings, which were really quite interesting, and I think you’ll find them very helpful.

Do You Have a Forex Trade Management Strategy?

You constantly hear about the importance of consistency in your trading approach. An “approach” encompasses a lot of different things, but one of the very key elements in your approach is consistency is how you manage your trade positions. Are you, indeed consistent? Or do you tend to flip around from one way to another? How do you handle news events? Do you know how different trade management strategies compare to one another?

In today’s video, I’ll go over some of the questions surrounding forex trade management that you should be able to answer. If you can’t, then you need to spend some time on this. It’s really that important.

Planning Your Forex Trades in Advance

During our last Coach’s Corner session, one of our members, Darko Ali, showed us 3 trade setups, well in advance. The one in this video (AUD/USD) was identified about 12 hour prior to being filled. This slows things down and gives you lots of time to properly analyze what you’re going to do…and why. (I’ll show you the other 2 setups as well).

This 4 minute video (and don’t be fooled by how short it is), is a great illustration of the power of not only having a game plan with your forex trading, but of advanced preparation.

By the way, we also took this trade in our “Myfxbook” account. We post these trades well in advance, and our CC members have access to all pending orders, as well as trading results, making it totally transparent. We go through a complete analysis for our members and show exactly where we are planning to trade, and why.

Pipnotic Forex Trading Software: Simplifying the Process

This week I have what is (hopefully) a very clear illustration of exactly how we use the Pipnotic software to easily identify high odds trading levels. You’ll even see how we use a Recurring Forex Pattern for further confirmation of a trading level.

Listen…ultimately it’s not some software, or even the trading “system” you use that will determine your success or lack thereof but…as you’ll see in this 5 minute video, having the S/D software makes the job so very much easier.

 

Trader Interview: How This Successful Forex Trader Keeps Doing It

Last June Sarid Harper and I conducted an interview with one of our Coach’s Corner members, Darko Ali, who was clearly displaying the trading qualities that result in consistent, long term forex trading success.

Darko has continued to maintain an unwavering commitment to his approach, and this past week we chatted again. In this interview, you’ll hear about the things that have truly made a difference for him. You don’t need to re-invent the wheel: just listen to what he has to say (and check out his track record).

We feel very fortunate to have Darko in the CC, as he is a great role model for others, not just in his technical trading approach, but most importantly, in his trading mindset.

In this interview, you’ll learn about the key ingredients that have contributed to making Darko the successful forex trader that he is.

Watch How We Pick Precise Levels to Trade

Last week I mentioned that we are now providing our Coach’s Corner members with trading levels, well in advance, in order to help those who simply don’t have the time to be at their computers. It also gives our newer members a good starting point to help them get up to speed more quickly.

This week my CC partner, Sarid Harper, who developed the Supply/Demand software that we now use in the CC, will walk you through the process that we use to identify these levels. In this 7 minute video, you’ll see exactly how it is that we can pinpoint trading levels that offer exceptional reward vs risk opportunities.

If you are unfamiliar with the software, you may find it necessary to go through the video several times (which would be well worth your while).

Like anything, practice makes perfect, and once you work with the software for a short period of time, you’ll have a very good understanding of how it works. You can view the video here:

In the Coach’s Corner, each session we go through this process live with our members and identify levels we might trade at, then post them to our Myfxbook account, which our members have full access to within the CC member’s site.

NOTE: These are not trade recommendations! They are price levels we observe, and it is the full responsibility of the trader as to whether or not they take the trade.