Forex Mentors

Plenty of pips available in the www.fx500club.com live online trading school this morning. There were at least 5 winning trades called live today in the www.fx500club.com trading academy. I started earlier than the forex mentors in the live trading room this morning and took my euro gbp trade based on my bunched up moving averages strategy.

There were no currency trading videos from the www.fx500club.com this morning but we had plenty of potential trade setups ready to trade should all the indicators become aligned correctly.

Euro british pound is a slow moving pair but having studied all my 5 minute charts this was the one I liked the most. EUR/GBP tends to go in the opposite direction to cable so I would be using this move up on EURO against the pound to take a short entry on GBP/USD as well.

I prempted this trade a bit and entered just as the 20 moving average crossed up over the 50 moving average, but at the 0.8586 level it meant I could have a very tight stop loss just 6 pips away below the obvious support at 0.8580.  I was trading into the daily and monthly pivits but I am aware that those pivot points also act as levels to be tested. Once I had moved 15 pips into profit I banked 75% and moved my stoploss to 0.8590 giving me a free trade and hoping it would carry on up.

With eur/gbp going north I was looking for breakout trades on the other pound related pairs, I got 25 pips on a cable short trade, the same on a euro/usd short and 40 pips on gbp/jpy short. All these trades and a few others were also called in the www.fx500club.com Live Online Trading School.

The Forex Mentors in the www.fx500club.com do send us currency trading videos regularly by email but only when there are clear trading setups available and predominantly on the hourly charts.

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Always Remember.

Keep your risk as a percentage of your capital low (1%), equals stress free trading.

Always work out potential losses before potential profits.

We are paid to take risks, if you aren’t in a trade you cannot win a trade!!

Buy off support and sell off resistance.

Bank partial profits early and move your stop loss to break even as soon as you can.

I am learning how to trade these setups and indicators across all time frames with the help of the fantastic team at the www.fx500club.com They have a live forex chat room and share their charts so that you can watch them find potential trades in real time.

They also have a school for learning how to trade longer term charts at www.fxmonkeyschool.com.

The fx500club and fxmonkeyschool, forex trading school don’t just trade charts and indicators alone, they teach us to use correlation of the whole market before entering a trade. It truly is the best place to learn how to trade forex properly, safely and profitably. It’s all about the pips and about protecting your capital.

Click Here to get a FREE days entry into the fx500 club live trading room