Day Trading Room Results | March 21, 2013

Looks like this week will be another great one in our day trading room. You can see some a complete compilation of my trades on two different websites click on your choice below:
Verified Forex Day Trading

Our current trades taken in our U.S. session are tracked and verified by myfxbook.com, and MT4i.com

Feel free to view our trades:

* Past results are not necessarily indicative of future results

MT4i.com

*Past results are not necessarily indicative of future results

Day Trading Room Topics This Week

We covered several topics this week in our trading room. The important topics we always review before any new ones are discussed is Money Management and Mental Focus. We are constantly discussing the importance of improving habits each day you trade.

Any type of a written plan is better than nothing. We feel it is very important to take notes each day as you day trade. When a trade uses proper risk management, sets goals properly and visualizes on a daily basis they tend to gather the needed 'trading edge' sooner than many other traders. In our Day Trading Room we cover these topics and more.

Many traders are focused on winning trades, taking setups, looking for signals. How many traders do you know who school themselves on losing? Let's face it we are going to lose, as traders we need to lose in an organized fashion one where our emotions are under control, this prevents emotional trading. Often traders trade with their Ego, they do not want to admit that they are wrong on a trade so they tend to stay in the trade. In our Day Trading Room we teach effective ways to deal with loses mentally and effectively.

Today in our trading room we covered several key areas on the EUR/USD, many of these levels are the same we have been seeing most of the week. The tight range and choppy spikes are making for difficult setups on lower time frames. I expect the Cyprus news to give us our well needed direction in the pair. I will post later tomorrow on the EUR/USD possibilities and how I may be handling certain levels.

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