In these videos I will introduce my current trading style and how I set the charts up using basic indicators found on most platforms. This is hopefully a chance for you to gain professional trading knowledge and increase your success no matter what level you are at as a trader.
See the next post for the video on Strategy Technique #1
I made this video in response to a question I received from one of our members. The main point I’m trying to get across is when trading I will take a few minutes to back test the strategy on the chart that I’m looking at to validate the “trade – ability” in the recent history, looking to see what the win to loss ratio for the last few trades were.
Things change all the time in the markets but there is a truth to the concept that history repeats itself. If the strategy is working on a certain market I go with that one.
This week the USD/CAD and CAD/JPY are on my watch list.. Possible short trades on CAD/JPY if the current up trend continues to deteriorate. USD/CAD may bounce off it’s current top and head down but it is looking a little if-ie.. : ) Seems like it wants to break out toward the up side. Will see what happens.
This week we are doing a quick review of the EUR/CAD and GBP/JPY. EUR/CAD is currently in a bullish channel having made a reversal signal in the price action after a bounce off support I’m looking for buys on shorter time frames. GBP/JPY is a bit of a mixed bag but still looking for possible trades to the down side short term. Will see what happens. Check out the video below for more details.
In my opinion the more you can learn about analyzing and assessing the markets direction the better trader you become. It is 1 of the major keys to successful trading!