Currency Strength and Weakness for Wednesday 13th March 2013

Andrew Mitchem

Special Consultant to the FPA
Messages
2,089
Hi Traders,

I've just uploaded a new video for you here:

[video=youtube;HtR_q0NzbGs]
[/video]

I make my suggestions every day based on where I see the market heading over the next 24 hours. Use my analysis below to aid your trading and to help you keep on the right side of the market.

My suggestions are posted by 6pm EST each day.

The market was very quiet yesterday which makes the task of selecting trade strengths and weaknesses for the next 24 hours a more difficult task than usual.

Overall there is strength in the AUD.

Overall there is minor weakness in the NZD, EUR, GBP and USD.


Trading Directions I am favouring for the next 24 hours

Buy Trades – AUD/USD, AUD/NZD, AUD/CHF

Sell Trades – EUR/AUD, GBP/AUD


Don't forget to download your FREE copy of my MT4 Lot Size Calculator Trading Script. It's an amazing tool which will help you keep your trade risk consistent regardless of the pair, time frame chart and stop loss your take. Click on my signature below to access your own copy.


To Your Trading Success,
Andrew


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

Learn how I do it>>

 
Last edited by a moderator:

TheHacker

Recruit
Messages
1
Thanks for the strategy for today. It turned out that there were bad news for Australia after Home Loans report came up - indicating a fall.

So my question is... when situations changes against our original expectations, how do we deal with it? Do we cut loss and immediate trade the other way?

For me I have cut my loss quickly and spent the rest of the day watch prices and opportunities go by me. Not sure if that's the best approach.
 
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George Mcall

Corporal
Messages
89
I am a real fan of the idea of your trading calculator. I use a very basis and primitive method myself. I am not a great fan of metatrader 4 however I am running a demo account using metatrader 4. I am slowly learning it and I guess as I really start to get it know it, I will like it. I am having a problem uploading your calculator to metatrader 4. What would be good is if you were to do a video showing how to upload your indicator.

Also YouTube has very little on metatrader 4 apart from very basic stuff which I have already mastered. For example I really like Donchain Channels for determining breakouts and I do not know how to upload the indicator.
 

Andrew Mitchem

Special Consultant to the FPA
Messages
2,089
Thanks for the strategy for today. It turned out that there were bad news for Australia after Home Loans report came up - indicating a fall.

So my question is... when situations changes against our original expectations, how do we deal with it? Do we cut loss and immediate trade the other way?

For me I have cut my loss quickly and spent the rest of the day watch prices and opportunities go by me. Not sure if that's the best approach.
Hi,

I only trade when I see a suitable candle pattern and overall good setup. If the trade goes against me, I generally only exit early if there is an obvious reversal signal. However if the trade gets stopped out I would not simply enter in the opposite direction.

The news yesterday was not a problem as the AUD$ soon rallied against most of the currencies I suggested on yesterdays analysis.

I hope this helps.
Andrew


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

Learn how I do it>>

 
Last edited by a moderator:

Andrew Mitchem

Special Consultant to the FPA
Messages
2,089
I am a real fan of the idea of your trading calculator. I use a very basis and primitive method myself. I am not a great fan of metatrader 4 however I am running a demo account using metatrader 4. I am slowly learning it and I guess as I really start to get it know it, I will like it. I am having a problem uploading your calculator to metatrader 4. What would be good is if you were to do a video showing how to upload your indicator.

Also YouTube has very little on metatrader 4 apart from very basic stuff which I have already mastered. For example I really like Donchain Channels for determining breakouts and I do not know how to upload the indicator.
Hi George,

I'm pleased you like the idea of my trading calculator. When you downloaded the calculator from my site, you should have received an email with a link to a video I've made showing you exactly how to install the script.

If you didn't get that email, please send me an email and I'll send you the video link.

Andrew


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

Learn how I do it>>

 
Last edited by a moderator:
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