Forex-fxtrader

It has not been the easiest of weeks trying to analyse the daily direction of the currency pairs that we trade. I posted,  very successfully I hope you noticed!! that cable (gbp/$) was due a fall/pullback this week.

You have all week end to look at as many pairs as you like. Pick the one(s) that look the most interesting and do a detailed study. Look at trend lines. Support and resistance lines. Fibonacci. previous highs and lows etc. If you have no idea what I am talking about, check out the free lessons section and ask for a copy of my template.

This is what I posted "The gbp especially leads me to believe that it may be on the way down for a few days at least. .....Price broke through, but failed to stay above the 1.6600 area, as per last weeks analysis. There was a very strong reversal candle on the 4 hour and price is currently at a 78.6 fib area. If it breaks down here it could be on its way back down to the 1.6200 area and even as low as 1.6000 area. Price fell 300+ pips to 1.5983.

I get dozens of emails every week asking me for advice about forex brokers. Which ones do I recommend. Do I know anything about this broker or that broker etc. Its very difficult to comment sometimes because for every good review you read on line there is a bad one. Sometimes you have to read the reviews very carefully.

Forex Brokers- How to find a good one.This could be the shortest article of all time!

http://forex-fxtrader.com/blog/forex-broker-how-to-find-a-good-one/

$1.000.000 Forex  Challenge

Unfortunately one of our relatives has a personal problem, so my wife & kids (including Charlotte) have had to go to England at short notice. I haven't been able to do everything by myself this week. So the challenge never really got going. What I will do for the week ahead is simply place trades based around LMT signals.

It has been a mixed bag of results this week, due to the choppy nature of the markets, but still very profitable when traded with care.

I will talk to my technical guy and find out if its easier then to post the results somewhere on the blog everyday or possibly the main site. I will let you know in this week-ends update.

I am also looking into the possibilty of posting videos on "you tube" to explain the trades so can learn what to look for yourself. Remember the point of the blog is to help you learn to trade forex by yourself. I have every intention of fully retiring in 2 years time, by then I want you all to be making good money.