Currency Strength and Weakness for Tuesday 6th May 2014

ahmer

Recruit
Messages
147
Hi,

I'm not sure where you get your results from as:

1. I don't post a stop loss here.
2. I am not saying what direction the pair will close the day in.


I am saying it is best to look for trades during the day on those pairs and in those directions.


- Andrew Mitchem
The Forex Trading Coach
30 minute a day "full time" forex trading?

Learn how I do it>>

Sir, You forgot to answer Post# 4
 
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Aslan

Recruit
Messages
2
With due respect Ahmer, I think you are missing the objective of this thread. Andrew is simply providing us a "tool" to assist us in our own analysis.

I've been reading his posts daily for several weeks now and found the information very useful in assisting to confirm or filter out certain trade set-ups.

He states clearly in every post that it's not intended to be trade call...from what I understand, Andrew does also provide that service with specific entry/exit points but that's certainly not going to be provided freely in an open forum. That information is reserved for those who pay for a subscription to his service ( as it should be ).

It is up to us to receive Andrew's posts in the manner in which they are intended. He's telling us the general strength weakness he sees in a particular currency and subsequently, the pairs that could be attractive to trade.

It's our job to process that information along with all our other analysis and make our own decision on if we want to enter a trade and at which price.

Personally, if there is major news shortly following Andrew's posts ( such as the RBA statement earlier this week ) then I will filter out his findings on any related pairs but that's simply an adherence to my own risk management rules.

Overall I have found his analysis to be incredibly useful, just don't expect to be spoon-fed trade signals. Use the information he provides as a piece of a bigger picture and you will begin to understand its value.

Cheers!
 

deadant

Private
Messages
10
Hi deadant,

I trade D1, H4 and H1 chart most of the time.

I'll trade 30m, 15m, 5m and 1min charts when I hold my live webinars for clients but don't really trade those short t/f charts outside of the webinars as they don't suit my personality. However many of my coaching clients make excellent returns from 5 and 15min charts.

A tight stop loss means nothing. There's no difference with a 10 pip stop and a 30 pip profit from a 50 pip stop and a 150 pip profit - they are identical.


- Andrew Mitchem
The Forex Trading Coach
30 minute a day "full time" forex trading?

Learn how I do it>>


True, as long as you do get the profit -- but I have been quite good at putting the stop just a few pips to tight and gotten stopped out. A wider stop (with smaller position to keep risk down) seems to work better for me but a smaller stop would still be (or at least make me fell) better, if nothing else to further decrease risk. Yes, I'm a wimp and like ultra low risk when trading :) )

Anyway, thanks for the answer! A few thousand trades of practice and even I should learn, I hope :rolleyes:
 
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ahmer

Recruit
Messages
147
With due respect Ahmer, I think you are missing the objective of this thread. Andrew is simply providing us a "tool" to assist us in our own analysis.

I've been reading his posts daily for several weeks now and found the information very useful in assisting to confirm or filter out certain trade set-ups.

He states clearly in every post that it's not intended to be trade call...from what I understand, Andrew does also provide that service with specific entry/exit points but that's certainly not going to be provided freely in an open forum. That information is reserved for those who pay for a subscription to his service ( as it should be ).

It is up to us to receive Andrew's posts in the manner in which they are intended. He's telling us the general strength weakness he sees in a particular currency and subsequently, the pairs that could be attractive to trade.

It's our job to process that information along with all our other analysis and make our own decision on if we want to enter a trade and at which price.

Personally, if there is major news shortly following Andrew's posts ( such as the RBA statement earlier this week ) then I will filter out his findings on any related pairs but that's simply an adherence to my own risk management rules.

Overall I have found his analysis to be incredibly useful, just don't expect to be spoon-fed trade signals. Use the information he provides as a piece of a bigger picture and you will begin to understand its value.

Cheers!
Everyone can see this is your 1st post at this forum. :p
 
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Andrew Mitchem

Special Consultant to the FPA
Messages
1,993
Everyone can see this is your post at this forum. :p
Ahmer,

I hope your not suggesting I'm creating a false name and posting here are you?

If you are you are very badly mistaken. I have no desire to do such a thing. Never have, never will do.

Please clarify as that is what your comment seems to be suggesting to me.

Andrew
 

ahmer

Recruit
Messages
147
Ahmer,

I hope your not suggesting I'm creating a false name and posting here are you?

If you are you are very badly mistaken. I have no desire to do such a thing. Never have, never will do.

Please clarify as that is what your comment seems to be suggesting to me.

Andrew
It was a typo, Just corrected that. I was not blaming you for that post.
 
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