Forex education: Weekly wrap-up for week starting 17th Feb 2007

Hey,

Ok we had no trades this week, is that a bad thing? of course not! People seem to their their job as a trader is to be in the market, I think my job as a trader is to be in the market when there is a good trade to be taken. So I do not see weeks like this week as bad I see it as a part of trading and any week with 0 pips loss is a good week in my books. Anyway I obviously do not have any trades to talk about in this video but somehow I manage to ramble on for over 5 min…. enjoy!

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6 thoughts on “Forex education: Weekly wrap-up for week starting 17th Feb 2007
  1. Hey nick, I have a question for you, I did ask it on the forum a couple of weeks ago but I did get a reply. I think you havent seen it I know you are busy.

    Lets say you have a strong line and price breaks it, as it breaks price action indcats good momentum as it moves down through the line so a trade is entered. Not long after you enter the trade price reverses and creates a long wick.

    Would you close this trade at a small loss or see it through till it hits your stop? Or would you wait for the candle to close as a long wick before deciding?

    And one another question.

    I have noticed that you often enter a trade before the line is broken, when you do this are you judging the momentum before price hits the line or are you just trying to get a better entry?

    Thanks