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Hi. I screwed up yesterday. I thought I had sent the following to all of you. It only went to a part of the list. My screw up. Sorry.For those of you who did receive yesterday there is a short up date at the very bottom of the page.
I have some Free Forex training e-books for you this week as well as in-depth analysis for the week ahead. The markets have been VERY choppy this last week and have been very difficult to trade.
Thanks for all the positive comments re the new improved blog !
I have posted very detailed analysis of where the gbp/$ is
at the moment and things to look for in helping us to trade the coming
week. This is the result of 5 years+ trading forex. Do not worry if you don't understand all of it !
You can find it here on the Blog Detailed analysis for mondays forex markets
I sent my LMT followers an update mid week warning them not to trade until the markets settled down
and explanations of what to look for. I did think of sending it to all
of you, but I am always wary about bombarding you with emails.
If you are on the normal fxmillion list (only receiving weekly
updates) and would like to receive more detailed, especially emergency
advice and analysis, then email me and ask to be included in the lmt
updates (its ok you don't have to be an LMT owner).
My email address is : marc@forex-fxtrader.com
The Forex $1.000.000 Challenge starts wednesday 24th June
(daughter breaks up from school). As I mentioned before, my 15 year old
daughter, Charlotte is going to be leading the challenge. We will be
trading mainly off the 4 hour charts (we want to go to the beach for
the summer) ! and will publish resulLMT s, reasons for trades and updates.
Dean Saunders has kindly given me permission to release copies of this ebook free of charge to all my followers. The 1st one is here and is a good addition to your forex knowledge base;
Free Forex E Book "A Different Approach To The Pound" (great forex trading system)
download it here http://www.lmt-forex-formula.
com/bonuses/bigben.pdf
Once again check out the blog for this weeks detailed analysis that will hopefully
a) protect your capital
b) help you make big profits in the coming weeks ahead
c) teach you how to become a better forex trader
Have a great day,
Regards, Marc
LMT Followers: One gentleman got confused and thought yesterdays detailed analysis on the blog meant that the lmt was very complicated. Another thought it was a "buy signal" on the Gbp. I see now what they means ! Obviously Its not. The beauty of the system is its simplicity.Stick to the basic & advanced rules .
The extremely detailed stuff was me trying to show you how I try to judge direction and changes. There is over 5 years of forex knowledge crammed into that VERY detailed analysis. You do NOT need it to trade LMT. K.I.S.S - Keep It Simple.
LMT Trades for the week ahead: I said yesterday that i would TRY do you some analysis for the other pairs. I mentioned we were having a family day at the beach and it might not happen (its 90 deg in the shade here again today). I haven't time to do anything detailed. But there follows a brief outline of what to do this week. The gbp analysis from yesterday should set you thinking how YOU can learn to analyse in greater detail if you wish and apply this to other pairs.
General Advice:
- Wait until the markets open and see if things are settling down at all. It may still take a few more days for things to return to a more normal market.
- Some pairs will become more tradeable sooner than others. I will update you over the next few days.
- Dont be in a rush to trade (especially if you have just joined and are dying to try this out). Remember our motto "If in doubt stay out "
- If you are going to trade follow strict money risk rules and maybe halve your normal stakes until things become clearer
- A conservative trader would only take trades where the trend on the 4 hour is the same on the daily chart.
- Avoid the cad. It moved sideways all last week. Wait for a confirmed break out of the tight range (see the gbp analysis article from yesterday for how to trade break outs) - also the free dean saunders book above ison the same subject.
- Have a great week !
Marc
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