The two emails I looked at were to place an Income Generator Short trade on NZD/USD and AUD/USD. If you had placed the trades you would have gained profit. See the charts below for this morning – 240 charts.
Jane has asked the professional Forex traders who work at the Knowledge to Action Sydney office to each provide a list of the top 5 books they recommend for Forex traders for the newbies and “old salts”.
Knowledge to Action have released a free online video training website for people interested in Forex trading.
Over 5 hours of training is provided for FREE covering trading mindset, strategies both for intraday and spanning days such as the Income Generator (see more on that little baby below) and interviews on successful Forex traders.
If you think the unemployment situation is really bad right now read a few posts on the two blogs I stated above – it will shock you just how much the main stream media hides facts. I would recommend anyone who is an employee to start looking at other forms of income and stop relying on your day job.
I have traded against the trend, I have traded without checking the news first, I have traded without working out my risk/reward ratio, I have stacked trades on one currency pair thinking that it was a sure bet…
I noticed a few days back that the EUR/USD and AUD/USD pairs were heading south. I had a bit of a think about the AUD/USD and the positive vibes this currency pair has at the moment and decided to place an Income Generator trade Long.
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!!
Late last night I placed an Income Generator trade on NZD/USD short and by lunch time today I had made around $50.00 USD profit in my Micro trading account.
What I do know is that the Knowledge to Action strategies work – however! You need to practice, practice and practice more until you get a “feel” for the currency pairs you are trading. I also try and stick to the rules Knowledge to Action teach you as they help control the amount of loss per trade.
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.
Over the last week I have been paper trading using Knowledge to Action’s Income Generator strategy. The market is going sideways so much that I have decided to look at K2A’s “Forex Sniper Trade” which is an intraday strategy as I need to look at other options for trading.
I am right in the middle of my first paper trade using the Knowledge to Action Income Generator strategy that I was taught in the “Ultimate Forex” 2-day course.