As we are looking to launch our forex scalping course toward the end of this month, I thought I’d record another live scalp trade for you, and hopefully these examples will give you an indication of the kinds of trades we’ll be looking for on a daily basis, and…if it’s an approach that might be suitable for you.
This trade is on the EUR/USD pair from earlier this week, and you’ll not only see how the trade progressed, but you’ll also hear my comments regarding trade management, which is so important.
As you may know, we will be coming out with a course on short term trading (scalping) in the forex, later on this month. So for this week’s video, I recorded a live trade for you…which was also a qualified London close trade.
One of the most important things in this video is how the trade was managed. As with any trading approach, trade management can be all the difference between success and failure. Since we never know what price will do once we’re in, it’s critical that we make appropriate adjustments as the trade progresses.
“However, if a new trader believes he can visualize being a great trader having no trading plan, it simply will not happen”.
– W. C. (Has more than tripled his account during the past 9 months)
This week I have a great video for you, showing an AUD/USD trade that a couple of our Coach’s Corner members took. Both of these trades required very small stops (the perfect kind of setup we look for when scalping).
However as you’ll see, these trades turned out to be much, much more than a scalp!
Additionally, this trade was a perfect pattern #5, divergence trade, from our Recurring Forex Patterns course.