I made a weeks profit from a few hours research and a couple of hours managing trades this week. In my previous business it took me over 50 hours and 25 employees, ie lots of stress to make the same amount! Forex can be very frustrating but you have to love it when a plan comes together.

This is a copy of the results achieved this week from analysis given to members of my forexmentorpro.com service. If you look back at this post I explained what I was looking to trade and even more importantly WHY.

If you want to learn how to do this for yourself you need to understand what is going on in the markets and how to analyse where you intend to take trades.

This is a copy of the post and short video:

Hi, as you know I am not one to blow my own trumpet, ok well maybe occasionally 🙂 but I explained on Sunday that my plan was to be finished by Wednesday. You can see my original plan, video and notes here: CLICK HERE

I use a “top down” approach to my analysis. I start with monthly charts, then weekly & daily. My ideal goal is if I can find trades before the markets open. Place forward orders and walk away. This week was a good example of that plan coming to fruition and made my life very easy, combined with the gap trading strategy that I use

I show in todays very short video how the plan worked and you can see it below.

I showed where and WHY why I planned to enter the Cad for the 3rd winning week in a row, currently +80 pips as I write this.

I showed you where and WHY I was looking to take a counter trend long on the Chf – currently + 50 pips

I showed you many times how I trade gaps at the market open, there were 2 beauties at the open, unfortunately I only got half of 25 pips on two pairs as price came back, took the second half out and then went 150 pips on one of them 🙁

I also explained why I didn’t fancy the Aud, but it worked shorting at 0.9400 ( I didn’t take it, currently + 60 pips)

Finally the Gbp/$ I showed how if it broke above 1.6150 I would look for a pullback to long, missed my entry by a few pips this morning, that’s it for me for the trading week. Euro interest rate and press conference today Update price raced up 100 pips due to the press conference, yes you may have won on this occasion, but its impossible to plan for) + other red flag news and NFP Friday that I definitely wont trade.

If you would like to learn how to trade forex from technical and fundamental analysis using a very simple strategy then CLICK HERE to access the 100% FREE video training course.

Catch you later,

Author: Marc Walton