Free Forex Training Video - Possible Trade Entry Video GBP/JPY
Entering and exiting a trade is everything when trading. It's all about timing. Here is a great example of the forex market behaving as it always does. When I first looked at this chart the emotions kick in and it looks like a great opportunity. But then when my experienced eye kicks in I see that the move is almost over and I should not join the crowd. Instead my technical analysis tells me that it is time to wait.
I and you too should be doing a lot of waiting in the forex market. If you are waiting then you are trading. If you are always trying to make something happen, then you are a member of the heard.
I also mention in this video the difference between trading systems and trading methods. A trading system in a hard core set of rules that governs entry and exits, whereas a trading method is what an experience trader uses. A trading method is a method of trading based on special knowledge and experience, it understands that each situation is different and allows the user to make more accurate assumptions that a trading system can. A trading method is a living and breathing method whereas a trading system is not. A trading method is much better suited for the living, breathing markets.
I hope you enjoy the video looking at technical analysis of the GBP/JPY. Please contact me and give me your feedback, or comments.
This is a 25 min Video. Wanted to let you know before you dove into watching it.
*UPDATE* - since this video was created you can see that the support resistance zone was broken and the currency pair is headed down. I will continue to stay out of this pair on the short term until something more substantial starts to happen. I am anticipating something relatively soon, but it may be after the new years before anything really starts happening.
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-Mission
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