Forex Trading Training EURUSD 2

More Forex trading training today on the demo account. This setup on the EURUSD currency pair was based on a combination the Golden Cross and one of the video forex strategies in the Forex Signal Mentor Forex trading course.

This was on the 15 minute time frame chart. Once the signals had developed I entered a short trade at market price. When you get into trades based on a couple of Loz’s strategies aligning together you don’t usually have to wait long for the take profit targets to be hit In this case I had got my daily 20 pips in about an hour.

You can have a look at this trade in the image below:

forex trading training

I have had some good success recently with this currency pair. I always double check the immediately higher time frames to where the signals have appeared to make sure I am not going to enter a trade against a strongly prevailing trend. Remember the trend is your friend

These last two trades I made on this pair really have been stress free positions because they went into profit extremely quickly. Now on this one I could have booked in some more profits by moving my stops however I had to go out so I just set my order up to be conservative – I am just going for 20 pips per day on these set ups. So while there was more mileage in the trade I hit my quota with about 10 minutes analysis on the charts. When I first started trading I would often beat myself up about leaving money on the table but the problem with this approach is that sooner or later I would start to get greedy and end up losing whatever profit I had made. One of the things Loz talks about constantly is patience.

Anyway hopefully this was interesting – check back again tomorrow as I will have more trades (winners and losers) posted.

You can find out more about Forex Signal Mentor by clicking this link.