Forex Trading Review

8-09-2012

Hello All,

Today was a very slow day with a smaller than normal range in our major pairs. The AUD/USD had about a 27 pips range from 7:45- 9:45am. I ended up taking a AUD/USD short at 1.0562 with tight stop at 1.0583. The session was the type that can put anyone to sleep.  As the markets were dead we took the opportunity to learn some Forex Trading techniques. We ended up sharpening our understanding of some candlesticks and reviewed some basics on 5 period and 20 period moving averages as we were waiting for our trade to make a move. I ended up getting stopped on this trade at 1.0583 for a loss of -21 pips. This was the first losing day for the week. Well, in Forex Trading losing is part of the game. They say an important element of Forex Trading is to make sure you know how to handle the losing trades, this is more important than winning.

If you are interested in our  Forex Trading Room we provide two trading sessions per week, Monday through Friday.  Our strategies change as the markets change, as this is the only real way to be able to handle Forex Trading. See more info on our currency trading room page.  We now provide all the trades taken in our Forex Trading Room verified by a third party at a website myfxbook this website specializes in Forex Trading.

Regards,

Gerard (BT)