THERE IS MORE THAN ONE WAYS TO PROFIT FROM THE MARKET
While we are still holding on to our trades for a bigger profit reward (both our EUR/GBP and GBP/USD trades are currently running at +195 pips with our final target of +730 pips), we managed to scalp the market for a $510 profit in the past five days.
What’s more amazing is few of the traders are profiting handsomely from EUR/CHF trade too – one of the 2018 Trade of the Year idea that we shared regularly during our meet up sessions since the start of the year.
If you have attended our free weekly profitable trades sharing session and traded on a lot size together with us, you would have a total of $3,750 (375 pips) running profit, with a much larger profit target.
More on that later. Let us turn our attention to the potential trade setups for now.
We are monitoring two trade ideas at the moment – the CAD/JPY and NZD/CAD pair. Refer to the video analysis below for more details of the trade ideas.
375 PIPS RUNNING PROFIT FROM LAST WEEK
We were just sharing the buy setup on GBP/USD and the sell setup on EUR/GBP earlier this week during the Traders Meetup session on Monday.
We saw GBP/USD moving correctively lower, giving us a nice 3-wave structure to take a buy trade higher. Similarly on EUR/GBP, we saw price developing into a corrective 3-wave structure to the upside, giving us a good reason to look for a short trade to the downside.
At the moment, these two trades are already running in profits with the protective stops shifted to ensure these two trades are risk free.
On top of that, few of the traders even managed to ride the move down on EUR/CHF, capturing more than 100 pips profit to date. (The current price on EUR/CHF is trading at 1.1600 at the time of writing this post.)
EVER THOUGHT ABOUT SCALPING THE MARKET?
In the past 5 days, we managed to profit $510 from scalping the market while riding on our swing trades.
The challenge to successfully scalp the market is not just about having the right knowledge and skills, but more importantly, understanding the trading psychology required to be a profitable scalper.
After a survey conducted among our readers and traders, we received much interest among traders who are keen to explore more about scalping. Thus here’s a little Lunar New Year gift for you.
We are having a trader’s profiling exercise for our coming Weekly Traders Meetup.
Join us this coming Monday, 5th February, from 7.30pm to 9.30pm to find out what is your trader’s profile and what trading style best suit you. And of course, we will be sharing on our market outlook as usual.
Don’t miss this opportunity!
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