Currency Strength and Weakness for Monday 2nd June 2014

[ahmer]

Hi Ahmer,

Maybe Forex trading is not for you then?

I agree it is very difficult but like anything that's good in life, it generally takes some dedication, commitment and a few hard times before it comes good. Most people don't have this dedication which is why the rate of those who lose money is so high.

As for yesterday's trades, I disagree. There were some great setups on the AUD pairs yesterday following the AUD news (which I predicted would be weak for the AUD) - AUD/CHF, EUR/AUD, EUR/CAD, GBP/CAD and CAD/CHF for instance - all in the directions I anticipated. I didn't see any good setups on the EUR/USD or USD/CHF.

However, for a Monday which can often be quiet, it was a really good start to the week.

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- Andrew Mitchem
The Forex Trading Coach
30 minute a day "full time" forex trading?
Learn how I do it>>

I am particularly trading Futures and learning forex. I trade with 0.01 lots and trying to achieve consistency.
When did you post AUD trades.
You were quite confident to buy EUR/USD and selling USD/CHF. Your weakness analysis of USD was the main reason for failure of both setups.

btw, You decreased the time period from 90 days to 60 days, I hope it will not come down to 30 days in future.

 

[Kyle Chua]

DISCLAIMER: Trading in the Foreign Exchange market involves a significant and substantial risk of loss and may not be suitable for everyone. You should carefully consider whether trading is suitable for you in light of your age, income, personal circumstances, trading knowledge, and financial resources. Only true discretionary income should be used for trading in the Foreign Exchange market. Any opinion, market analysis or other information of any kind contained in this website is subject to change at any time. Nothing in this website should be construed as a solicitation to trade in the Foreign Exchange market. If you are considering trading in the Foreign Exchange market before you trade make sure you understand how the spot market operates.


Why don't you show RISK WARNING DISCLAIMER in your videos ?

It is better to do nothing then to make something into nothing.
Saving account in a bank has Zero percent risk of loss as compared to 100% risk in forex. Generally speaking, Forex Trading is a most stressful and difficult business on earth. 95% traders lose money in this game. Ask your broker for statistics.

A verified track record of 6 months trading generally considered minimum criteria to identify a successful forex trader.

Btw, your strength and weakness analysis for 2nd june was completely failed.

I believe you are the wrong one. First and foremost, Forex trading has no 100% risk, there's still some traders gain money because they put their efforts on researches and analysis! The rest who lose all their money were those who never put their efforts, and the are gambling with the currencies. On the other hand, saving your money in bank is the real 100% risk, regardless to the fixed deposit savings! Assume that the current inflation rate is 1 to 2% and even higher in certain countries, while the normal deposit interest rate that's offering by most bankers are less than 1%! So you are more to losing your money than saving it in term of inflation!

Invest the money is always the best choice, and every investment comes with risk! If you can't bear the risk, then just save your money in bank and losing its value when the time passed.