EUR/USD is by far the most traded currency pair when looking at the 2004 Bank for International Settlements (BIS) survey of the Forex market.
Of course each rule was stated in the Knowledge to Action course but like most males who think they know better than the experts I ignored these rules and decided to take a punt. Always – always I lose money when I do this!!
I just lost 100 pips overnight on a GBP/USD trade going Long that in fact went south (Short).
Last week using the Knowledge to Action Income Generator and Pivot strategies I made around $50.00 USD!
The strategy is not dependent on a specific time of the day as there are always price movements in the Forex market to take opportunity on. However I am slowly working out that looking at the market around 8am NZT and after 9pm NZT allows me to take benefit within the overseas sessions.
I decided to take a look at the 2nd strategy for Forex trading called “Forex Pivots”. The strategy is intraday (meaning trades are opened and closed during the same session) and is a great way to collect pips! I tried the Forex Pivots last night on the Cable and got myself $15.00 USD for about [...]