Forex Trading Room September 10, 2020
Here’s today’s recording Forex Trading Room Session.
In today’s trading room session, We scanned the markets and took trades on EUR/USD, USD/CHF, and USD/CAD. 3 winning trades and 1 losing trade.
Enjoy!
Part 3 Scalping Forex Webinar - High probability retracement technique and Price Action Confirmation
The last part of our Scalping Forex Webinar - High probability retracement techniques and the only Price Action Confirmation Chart Pattern you should know.
The markets are ever-changing. Every day the market adopts different behavior characteristics. Trading the daily bias allows traders the agility for fast updating the market view due to its impulsive changes.
Besides analysis and bias, day trading has many more advantages. Being out from the market at the end of the trading session, has a positive effect for the trader’s lifestyle, in terms of less pressure, defined working hours, faster learning and improvement curve, and much more.
What You Should Know About the Canadian Loonie Dollar (CAD)
A Close Look at the Canadian Dollar
Although the Canadian economy according to GDP is only the 10th largest in the world, the Canadian Loonie Dollar is the 6th most held reserve currency. Just 8 currencies make up 80% of all trades in the forex market and the CAD is one of them. It’s fair to say that the Canadian dollar punches above its weight.
This outsized power despite hailing from a relatively small population makes the Canadian dollar a favorite for many traders in the forex market.
If you want to trade the Canadian Loonie Dollar (CAD), this article will make you some order regarding the Canadian currency and economy
For the full article
Supply & Demand Advanced Trading Techniques, Part 1 - The basic
In trading, we are looking for more precision and high-reliability levels to trade from. Introduce yourself to the Supply & Demand trading theory. It is straightforward to understand, easy to read, very visual, but most important, it is a timeless concept.
For the past decade, Supply & Demand had bought a high reputation as an advanced and accurate price action trading methodology. Supply & Demand is a naked chart reading study, which maps areas of high or low resistance due to the accumulation of order flow balance.
Once you grasp the logic and reasoning at the base of the Supply & Demand concept, reading charts for spotting high probability trading levels becomes easy and straightforward.
In the series of webinars, we will dive deep into the core of the Supply & Demand theory and practice. We will study the anatomy of the price action according to the rules of Supply & Demand. We will least now easily spot high probability entry levels, time our trade for precision, plan and manage risk.
I agree that when you want to maximize your trading performance, you need perspective, high quality preparation, self-motivation, personal awareness, and mental awareness.
1 Like
Supply & Demand Advanced Forex Trading Concepts Part 2
Supply & Demand Advanced Forex Trading Concepts Part 3
What Financial Traders Can Learn From the Game of Golf
Golf and Trading - This post describes parallels between golf and financial trading. it will give you insights to help improve your trading performance.
This post aims to describe parallels between the game of golf and financial trading. I hope it will give you some insights to reflect on and key takeaways to help improve your trading performance.
So, it’s happened… I’ve taken up golf. Yes, being middle-aged, I realize it is a cliché. But, like hundreds of others forced into isolation during the COVID-19 pandemic, golf was for some time one of the only sports that could be played outdoors.
I paid for a few lessons with a golf pro, and some of what he said to me has really resonated with my trading. I found there to be many parallels which I thought it would be insightful to explore and share.
For the full article
Dominating the World of Risk – How to reduce your trading risk
How to reduce your trading risk?- In a market environment full of uncertainty, those are the tools that will help traders dominate risk.
Without a crystal ball or some other clairvoyant lens into the future, you can’t expect all (or most) of the changes in the market. Still, you have to be providing a steady income and reduce your trading risk, if you want to make it as a professional trader.
In a market environment full of uncertainty, what tools can we give traders to dominate risk?
Eliminate the gambling factor
The first step in dominating risk is to accept that it will always exist and that it needs to be managed. Risk management will greatly help you reduce the gambling factor from your trading and ultimately give you a better edge in how you operate in the turbulent uncertainty of the market.
For the full article
Supply & Demand Advanced Forex Trading Concepts - Confirmation Price Action. part 4
Four Ways To Detect Trends In Forex Currency Pairs
This guide will explain different ways to detect trends in forex currency pairs, a trading strategy that research proves it can be very profitable.
Trends In Forex Currency Pairs - There’s an old saying “The trend is your friend, until the end when it bends.”
In a trend, a move from one price to another leads to profits and losses for the trader. Generally, there are four significant factors that can trigger these trends. These include supply and demand, a change of government policy, speculation and expectation, and international transactions.
Let’s say we’ve developed an edge that involves paying attention to the economics and politics in country X and we’ve formed an opinion on the future direction of country X’s currency.
To do this, we’ll probably have an understanding of all four of the above factors, and now we want to take advantage of the change of what we think will happen. We can do this either on a swing trade or long term basis.
How then, do we spot a trend on the charts?
For the full article
The Difference Between Supply and Demand and Support & Resistance
Supply & Demand Advanced Trading Concepts Confirmation Price Action part 5
Hi, can a funded trader hold more than one account with the 5%ers? Thanks
Hey @Paulscaff1
You can register for up to 3 different evaluation programs, which allows traders to get more funds to trade, up to $3.84 million.
Thats great, thanks for your reply 
Also with the scaling plan, can you still withdraw all your monthly profits and still benefit from account scaling?
Or does there have to be 10% profit sitting in the account at the time of the scaling up?
Thanks
Hey @ Paulscaff1
This is one of the attractive things about our programs
If you managed to earn 5%, you can withdraw them, but it counts for you, meaning you only need another 5% to double the account.
That means you get paid for profits, while keeping your account growth.
Best…
Do you really have what it takes to be your own trading boss? - This article will help you be an independent Forex trader.
Imagine the freedom of being your own trading boss. You get to work when you want, how you want, and where you want. You’re free to take risks and chances without the peripheral gaze of overbearing authority. Everything is planned, implemented, and followed upon by you. But while this is true, it might not be as glamorous as you imagine.
The reality is many people who become their own bosses as traders, immediately fall into a well-laid trap. The most successful and disciplined traders have devised effective plans to work for themselves but the truth is, most of us don’t have what it takes to self-discipline, self motivate, and self-correct in a profession that can be incredibly lonely and unsure. No other skill job would require its occupants to go it alone without coaches, trainers, and experts to constantly rely on. But trading is different and exceedingly lonely. It doesn’t take much for ill-prepared traders to end up lost in their own heads and ultimately failing.
For the full article
How the Results of this US Election may Affect the US Dollar
Historically, US economic performance tends to improve under a Democrat candidate, Will the election results affect the US dollar similar this time as well?
While accounting for the ongoing worldwide impact of coronavirus, the one news item that has dominated the global agenda during Q4 is the US Presidential election. Even now that Democrat candidate Joe Biden has been declared the winner of the election, the protestations of the Trump administration have meant that transition of office has not been as smooth as in previous years.
This has only served to exacerbate the uncertainty being faced by both domestic and global financial markets, with the US Dollar (USD) particularly vulnerable to the election and its macroeconomic impact.
Of course, the election of Biden may cause even more market volatility in the short-term, particularly given his apparent desire to hike taxation for large corporations. Trump’s refusal to accept his electoral college defeat also exacerbated uncertainty in the markets, despite the lack of success for any of his legal challenges to date.
For those watching and waiting on the eventual outcome, it’ll be an uncertain period of time, not least for traders and investors looking to plot where USD moves next in response. But how will Biden’s win impact the US economy and the greenback?
For the full article
1 Like