Forex You Say?

12 06 2008

Several of you were asking to see some more forex trading with the UMT Simple Plan. You asked, and we’re providing. This video covers the forex trading for today, actually the last couple of days. The movement has been great on forex so we’re seeing good trading. We discuss in this video some of the type of timeframes we like to use – for example, when day trading we are very partial to “tick” charts and not “time” interval charts. We’ll tell you why – and it will make a significant difference for you.

The buy and sell set-ups are the same whether it’s stock, forex or futures. Once you learn the method, which by its name is “Simple” to learn — then you’ll be able to apply it wherever you’d like. Everyone’s personality is different but this is a highly adaptable trading strategy so it can fit just what you are wanting to trade – both markets and timeframe.

Forex Trading the UMT Simple Plan Thursday, June 12th

Please review the trading disclaimer so you understand the risks




2 responses

13 06 2008
Paulo Gomes

The video doesn’t load.
Instead, the error “Page Not Found. Error 404” comes up.

NetPicks Reply: You should be all set now – video may have still been uploading. Thanks!

13 06 2008
greg wakefield

how did it work this week with the gbp/jpy. it was very flat this week and i was wondering if your tech. got wipsawed, gave no trades or what ? thanx, greg

Greg: Good question. You’re right, GBPJPY was flat for much of the week compared to almost everything else that was flying at times. I did look at Monday – nice session – 100+ pip move. We have two entry strategies we teach so as I move forward on the week there are some differences. Tuesday caught about a 50 pip move then had a loss for about 48 pips. Late trade that ultimately went about 90 pips. Wednesday our “safer” entry had no trades – more aggressive would have stopped with 31 pips and 40 pips. Thursday nothing for either. Friday the conservative entry again no trades – did a nice job filtering out while the more aggressive had one break-even and one loss of 34 pips. Overall, given the chart fairly pleasing outcome – you’d almost have to bet that next week we see some real movement again (like earlier in the week) – thanks for the question!

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