Learn How to Trade the Pound against the Japanese Yen using the www.fx500club.com methods

Sorry for the infrequent post here but I am so busy making trades that I am struggling to keep up with posting, as I have mentioned the reason for making these notes was to improve my understanding of the charts, well it’s working and I heartily recommend anyone learning to trade does the same. 

This trade was a pure gimme, it just begged to be taken. Zak, Dan, James  and Anders would be proud of me. There was a descending trendline from the four hour chart acting as resistance with four points of contact. It was testing daily resistance 1 and the psychological round number 142.00. It was also oversold on the 15 minute chart and ready for a pullback. I shorted it at 141.80 with a stoploss above 142.25. It dropped like a stone. Yippee, thankyou the www.fx500club.com I love you guys.

Always Remember.

Keep your risk as a percentage of your capital low (1%), equals stress free trading.

Always work out potential losses before potential profits.

We are paid to take risks, if you aren’t in a trade you cannot win a trade!!

Buy off support and sell off resistance.

Bank partial profits early and move your stop loss to break even as soon as you can.

I am learning how to trade these setups and indicators across all time frames with the help of the fantastic team at the www.fx500club.com They have a live forex chat room and share their charts so that you can watch them find potential trades in real time.

They also have a school for learning how to trade longer term charts at www.fxmonkeyschool.com.

The fx500club and fxmonkeyschool, forex trading school don’t just trade charts and indicators alone, they teach us to use correlation of the whole market before entering a trade. It truly is the best place to learn how to trade forex properly, safely and profitably. It’s all about the pips and about protecting your capital.

Dan Armitage and the team at www.fx500club.com and the www.fxmonkeyschool.com have been concentrating on teaching us how to trade the hourly charts using the daily and 4 hourly to determin the direction of the trend. This is great for me because it really helps me understand how to trade the shorter pullbacks and retracements on the 5 and 15 minute charts.

I Learned how to trade these setups and indicators across all time frames with the help of the fantastic team at the www.fx500club.com They have a live forex chat room and share their charts so that you can watch them find potential trades in real time.

They also have a school for learning how to trade longer term charts at www.fxmonkeyschool.com.

The fx500club and fxmonkeyschool, forex trading school don’t just trade charts and indicators alone, they teach us to use correlation of the whole market before entering a trade. It truly is the best place to learn how to trade forex properly, safely and profitably. It’s all about the pips and about protecting your capital.

Traded short because it was looking overbought and deffinately ready for a bit of profit taking. The cci trigger crossing zero along with the stocastics being above the 80 made this look good to the downside. It eventually ran out of steam to the downside at 145.80, 500 pips away from my entry. I still think this is a retracement on the 4hour up trend so this could drop to the weekly pivot around the 143.80 area before turning back up, we’ll see.

Dan Armitage and the team at www.fx500club.com and the www.fxmonkeyschool.com have been concentrating on teaching us how to trade the hourly charts using the daily and 4 hourly to determin the direction of the trend. This is great for me because it really helps me understand how to trade the shorter pullbacks and retracements on the 5 and 15 minute charts.

I Learned how to trade these setups and indicators across all time frames with the help of the fantastic team at the www.fx500club.com They have a live forex chat room and share their charts so that you can watch them find potential trades in real time.

They also have a school for learning how to trade longer term charts at www.fxmonkeyschool.com.

The fx500club and fxmonkeyschool, forex trading school don’t just trade charts and indicators alone, they teach us to use correlation of the whole market before entering a trade. It truly is the best place to learn how to trade forex properly, safely and profitably. It’s all about the pips and about protecting your capital.