Archive Monthly Archives: June 2017

A Live Forex Scalp Trade And A Lesson In Trade Management

One of the most valuable skills you can learn is trade management. I’ve said many times that it can be THE difference between profitability…or not, and that is certainly true. So…

I have another live trade for you this week – a scalp on the EUR/USD pair, where I walk through exactly how I managed the risk on the trade. I hope this gives you some pointers on effective risk management as it relates to the time frame that you’re trading (in this case, a very short-term scalp).

Live Forex Scalp Trade USD/CAD and…An Announcement!

Finally…next week we will be launching our new Forex Scalping Strategy Course!

So…for this week I’ve recorded another live trade for you, so that you can see the basic methodology behind this approach. You’ll see exactly what I did and why – where I entered, my pip risk, how I managed the trade, and where I took profit.

NOTE: Price moved very quickly off of the level I entered at, and the recording was started a few minutes late, however my target had still not been reached, so you’ll still see the progress of this trade.

Live Forex Scalp Trade: What To Do When It Won’t Go

I’ve recorded another live trade for you – a counter trend trade that was taken as a scalp (FYI, our Scalping Course is slated for release near the end of this month).

Trades are never a problem when price moves in your favor quickly. But what do you do when price just won’t get going? This gets down to trade management, which is one of the most valuable skills you can learn.

In this video, I’ll show you how I handled it (I ended up making a whole 2 pips!) But it’s not about the pips. It’s about reading conditions in REAL time…not after the fact. In real time, decisions need to be made based on environmental factors, contextual information, etc. We trade to make a profit, but we are never guaranteed of anything, so capital preservation is of paramount importance.

Forex Scalping At The Extremes

When I show a trade in these weekly trade examples, it might cause you to “raise your eyebrows” a bit when you see us sell near the highs of the day, or buy near the lows of the day. But…there is a process to doing this, and you can learn it.

Trading at extremes can be done on any time frame, but no matter what time frame you’re trading, when you can get a qualified trade setup with super small risk, you have the opportunity to capture a very nice reward/risk without price having to move very far!

This is what we’re going to be showing in our upcoming Scalping Course, which will be out later this month (apologies, it was supposed to be out last month).

Today, I’ll show you a couple of trades (actually 3), that will illustrate the concept of small risk and big reward.

Forex Trader Interview: How Alex Has Transformed His Trading

This week I had the pleasure of interviewing one of our Coach’s Corner members, Alex, who is just a shining example of the power of developing and following a game plan.

Alex has gathered information and insights gained from within the CC (including the use of other successful CC members as role models, as you’ll hear) to come up with a trading approach that works for him. After a very good year last year, he is on track to surpass those results in 2017.

I very much enjoyed interviewing Alex, and I hope you find the story behind his developmental process helpful for your own trading. You can hear the full interview right here:

 

CC Member Trade USD/CAD With Full Analysis

For this week’s trade example, I have a trade to show that was taken by one of our Coach’s Corner members, Rob, from Australia. Great analysis and setup (which I show in detail) on the USD/CAD pair, for a nice reward/risk trade, in this 3 ½ minute video.

What I particularly liked hearing from Rob was that this was the first trade he took this week, as he didn’t see any setups that suited his game plan before taking this trade. The patience part of this game is so terribly important, and it paid off nicely for Rob!