Marc Walton on September 4, 2013
Hi, welcome to new members & welcome back to those. like me, who
were away in August. One of the big benefits of your membership is the
fact that you have access to full time pro trader Pierre AND lots of
experienced members in the forum.
Here you have the opportunity to ask questions, post chart set ups and
learn with those who have been where you are now. Forex trading can be a
very lonely past time and that isolation often leads to making silly
decisions. If nothing else it should help you stay focused and avoid
making bad decisions.On the subject of bad decisions I personally am going to leave the markets alone until next Monday except for a couple of possible yen trades as explained in todays short video clip.
Thursday sees UK & Euro interest rate decisions, press conferences and ADP news all of which can rock the markets and NFP Friday is forex at its silliest when price often races in one direction and promptly reverses. A great opportunity to lose your shirt! Don’t do it!
Our goal here at Mentor Pro is to find low risk, decent reward trades from analysis based on longer term charts. I for example do my analysis on a Sunday when the markets are closed. I first look at monthly charts and work my way down through weekly and then daily. I then make a plan for the week ahead and trade it. Many successful members do their analysis before looking at mine and it’s a good habit to get in to. Learning to see the set ups for yourself is what its all about with the added benefit that you may find things I have missed
Do it often enough and you will eventually hit the “Ah ha” moment where it all starts to click. Forex can be very confusing and over whelming at the start of the journey but every single successful trader that I know talks about the moment when it finally begins to click. Member Jeff had his “Ah ha” moment last week
“Thanks Marc, good analysis and great to have you back. The M2 system is really sinking in through my thick skull now. What looked confusing at first is now quite clear regarding our chart set-up. It’s so good to not be trading “willy-nilly” and having a sound system in place.”
If you are currently struggling, keep going. Go over the material in the Education section. Join in the forum. Do your own analysis and acquire the skills to give you an opportunity to make a substantial income trading and working from home.
New members please note: If I am looking to take a trade long, at for example 1.5000 , I place my order 10 pips above & 10 pips below for a short. This is because price often does not quite reach a major line and you need to allow for spreads.
We are NOT a “tipping service” our aim is to teach you how to trade for yourself. For more up to the minute updates do not forget to drop by the forum
Pierre, Vassilis (Capsmart), Raa, Omar, Mary, and other experienced members will be available in the forum to give you a more up to the minute assessment & whether they see any potential trades lining up in the next few days. Many members tell me this is the best forex forum there is (no back biting & bitchiness, nor spam, that spoils most forums) and all members are happy to help new visitors. Its a great resource, USE IT: Forex Forum