Monthly Archives: December 2012
What Is It With Me And Web Hosting Companies.
Can i just apologize to everyone for the downtime last night. The site was offline for around 2 hours due to a server migration at EUK host. A normal sever migration should not result in any downtime what so ever but EUK have a habit of messing things up so we did experience problems. They have sorted everything out now though so we are back to normal.
Because of this issue we could not give an update on yesterdays trading activities, but i will do that later today.
We also have an issue with Virgin and our phone number has been offline for a few days. This issue should be resolved today. If anyone has been trying to contact me please try my land line number, or send me an email and i will call you right back.
Have a good days trading everyone. See you later. 🙂
What 95% Of Forex Training Courses Don’t Teach You.
There are many Forex training courses available online, some are very good, but the majority are a complete waste of money.
So how do you know what is a good Forex training course and what is a bad one? The simple answer is you don’t.
You can do some research on the internet on the various courses available to get some feedback, but you will generally find some people will say great things about a particular course, and some people will say its rubbish. The only way you can really find out is to take the course.
Now if you are new to Forex trading you could take a course, but you would not know if it was good or bad, as you have no prior knowledge of Forex trading, so you have nothing to compare it to. You will only find out how good the course is, when you start trading, using the information you have learned. If you make a lot of money then the course is good, but if you lose a lot of money, then you will find out very quickly that the course is bad. Just on that subject, i prefer to teach traders that have had experience of Forex trading, as they can fully appreciate the benefits of what i am teaching them. Most of my students are totally blown away by my high probability trading and my market knowledge, but its always harder for me to convey the power of what i am teaching to new traders, as they have not had any experience of trading the wrong way and losing money. But i don’t mind, teaching is a challenge and i love challenges. 🙂
Here is a good statistic for you to contemplate. 95% of retail Forex traders lose money. Only 5% of retail traders will consistently make money week after week, year after year. Now if you assume that 100% of retail Forex traders have been educated to some degree, in the art of Forex trading, because lets face it, we all have to learn how to trade, trading is not a skill that you are born with. So assuming that 100% of Forex traders have been educated, can you then assume that 95% of the information available online, whether that is free information, or a paid training course, is going to lose you money? Yes you can. If only 5% of retail traders make money, only 5% of the Forex training information available, whether free or paid will give you the education you need to enable you to consistently make money. 95% of the Forex education information out there will lose you money.
Many people come to me after taking various Forex training courses previously, that have lost them money. So why does the Forex education taught by 95% of Forex courses lose you money? The reason for this is that they fail to deliver on the main objective. So what is the main objective of taking a Forex training course? If you said “to learn how to trade” then i am sorry but you are wrong. The main objective of educating yourself in the art of Forex trading is to make money. This is where 95% of Forex training courses fail in my opinion. They will all teach you how to trade, some to better standards than others, but they will not all teach you how to make money.
This is where my training course differs from all the other Forex training courses. I will not only teach you how to trade, but i will also teach you how to make money. This is why my website is called “trade Forex make money”, its not called “learn to trade Forex like 95% of retail traders do” :-).
I am in the 5%, and my training course will put you in the 5%. I will teach you how to make money trading Forex. Which is what 95% of Forex training courses don’t teach you.
For more information on my Forex training course please click here.
Great Day Trading Today. 4 Trades 139 Pips Profit.
I had a feeling we would have a good day trading today. The markets were nice and volatile so plenty of pips to be had.
We took an entry on Cable late last nite at 10636, with a profit target at 16058. The profit target got hit early this morning and gave us 22 pips to start the day. Its a shame we did not set a stop and reverse trade at 58, as 60 turned out to be the high of the day, and it was a nice steady move down for most of the morning, so we could have banked some nice pips on that move, but we take what the market gives us, and move on to the next trade.
I don’t hunt for big moves, that is not how i trade, if i do catch a big move then that is great, but my strategy is to take short term high probability trades based on price action.
Some of my students like to hold their trades for longer, and take advantage of a big move, but that’s their trading style. I can tell you with the highest probability where the market will stop and reverse, its up to you how long you want to hold your trade for. 🙂
Our next trade was an EJ long trade at 10622 up to 10658 for 36 pips.
We followed that with a Euro long at 12879 up to 12930 for 51 pips. Nice trade. 🙂
Our last trade of the day was Cable long at 15006 up to 16036 for 30 pips.
The EJ trade was over pretty quickly, but Euro and Cable tested my patience a bit, particularly Cable that just sat at just above 160 for 2 hours before it moved off. Came good in the end though.
OK, update for the week.
Total trades taken 17. 16 winners, 1 loser. Total pips made 355.
If you want to learn price action Forex trading please consider my Forex training course here.
Some Nice Moves Yesterday And Today
Quick update on trading.
There were some nice moves yesterday and particularly today. Dollar was strong this afternoon which saw a nice sell of in Cable and Euro.
Yesterday we took 2 trades. Euro short at 13126 down to 13097 for 29 pips. We also took EJ short at 10754 down to 10744 for 10 pips.
Today we took Euro long at 10347 up to 10378 for 31 pips. We also took EJ short at 10786 down to 10753 for 33 pips. We also took Cable short at 16115 down to 16085 for 30 pips. We also took a few scalping trades for around 20 pips in total. We had a good days trading today.
Should be a pretty volatile day tomorrow which should produce some nice opportunities.