Forex Education: Trade update 6th of Feb 2008

Hey guys

Another great trade on GBP/JPY! If you checked out the weekly analysis at the start of week you would have seen me mention the 208.80 line. I said a good trade would be a scalp based on the break of that line. Well that line was broken and the trade worked out. Check out the vid below for a detailed explanation.

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8 thoughts on “Forex Education: Trade update 6th of Feb 2008
  1. great nick I got 70 pips their , I know you said a scalp but I was trading at the hour it hit the 208,80 line so I trade it manually thanks alot

  2. In this update you say that you didn’t actually trade it, and you spoke as though viewers might think “yeah that’s easy to say after the fact” and so I will add some info here for the benefit of those who are ever reading these comments.

    There were several people in the chatroom when this line broke who took the trade. Had anyone been in the chatroom they could have seen the discussion of this trade going on in real time, and several people did make right exactly 70 pips.

    I am going to go over into the forum and elaborate, for those interested in the specifics. But this was a trade I was watching for for a day and a half, and when it happened I took it as planned.

    And now Nick I want to thank YOU for this analysis, because it helped ME. I am not yet experienced enough that I would have seen this one on my own, but with you laying out the REASONS why to take this, I knew what I was looking at when it happened, and now feel at least a LITTLE more comfortable that I could spot this setup again on my own. The LEARNIG is taking place, because you put the TEACHING here, and I for one wish to give my gratitude.

    Jeff

  3. Hi Nick,

    Thanks for the analysis/update. This is my first week actually trading. I made 31pips off of your recommendation for this trade, mainly thanks to a sticky entry. It’s been an educational week. I’ve given the pips straight back to the market already. Oops. I’ve been reading your forum for about six weeks now and it’s a great source of information that’s easy to digest. So I for one will be posting from here on in. This is the first blog I’ve ever written a message on. So that’s a start.

    Cheers, Dogbaron

  4. Thanks Nick for taking the time to help us out. I find your style and methods to be the most beneficial for me so far. Just started trading this year and I hope that by the end of the year I can be a third as good as you are. Hope to meet you one day. Maybe on your training cruise. ALso, I hope you don’t decide to delay the weekly analysis for too long :)

  5. Hi Nick,
    Yes, I enjoy your weekly analysis . I regret that you are not doing them any more.

    I personally view your analysis as educational. I believe if I keep watching your videos, your way of trading will become second nature to me. keep up the good work
    Your Blog is first class!

  6. thank you again Nick, i awoke last night to my alert going off for the scalp line, i jumped in and about 10 mins later i went back to sleep happy with 56 pips.

  7. Thank you Nick for your videos. I learnt a lot from you especially about support resistance lines. I use it all the time in my trading now. Thanks.