Forex Day Trading Room Review 3-16-2016

Today was a nice trade as I grabbed 97 pips from the FOMC announcement. Today was another example of a good Forex Day Trading Experience when you wait, and do not get overconfident in your trade. We took a nice EUR/USD long trade with the assumption that we may see a move off our key level into FOMC. The trade was taken live in the Forex Room.

What happened was to our delight. Almost to the exact pip.. we saw a very nice move higher. This is an indication that when you focus on your plan, you have a trading edge. Working hard is the only way to summarize success in day trading. Many people will over trade and use a large amount of leverage when they experience losing streaks. This is the opposite of what we want to do when we are not trading our best. I use a very simple strategy when I have a losing streak. Trade small, and trade less. We can always increase our leverage once we begin to get back on the ball with our Forex Trading.

Forex Live Trading Room Video Review

Good Trade Analysis - Planning Your Day Trade

We must understand that good trades are planned , they do not just happen. We have been discussing this trade now for days. The fact that the chart was ripe for a move is another good example of a clear technical signal. As far as a fundamental signal, we must understand that the USD has been falling back as we have received worse than expected numbers these past few weeks from the USA. The fundamental assumption at the beginning of the year was to expect the USD to continue its move higher as the FED raised rates. Well.... so much for that. At fxlivedaytrading we are on top of our fundamental game, as well as our technical game. We also understand that more is not better with trading.

Why A Forex Trading Room?

We feel its important to see trades live in real time since this is the best way to learn Forex Day Trading. After all, if you had a good mentor of any kind isn't the proper way of learning typically followed by  a 'hands on' approach. When a Medical Doctor gets out of Medical school this is only the beginning. He or She must do an Internship at a hospital for an average of seven years. Since Day Trading is one of the most lucrative and competitive careers in the world why would we think a month or two of learning from a mentor is a Career solution? This does not make sense, yet time and time again we get emails from student candidates asking us if two or three months is enough to learn how to day trade. If you are serious about learning we feel its best to invest properly. Our Forex Trading Room is geared for serious traders who are looking to one day trade full time if they are not already doing so.

If you are interested in joining our Forex Trading Room please see our service page.