Hi everyone,
In this month’s free market commentary I highlight the key areas to look for potential trades during the month of October.
The US markets have looked to sell off but have failed so far. There are two key areas to look at across the Dow, S&P and Nasdaq.
GBP/USD (cable) is showing clear signs of a down trend so it would be most likely short set ups for the trend trader and long for the reversal trader.
Gold is very close to a key area that can offer potential opportunities in both directions.
Thanks for watching,
Ian
Online training, support and resource portal for traders of forex, indices, commodities and shares. Real traders teaching their trading techniques while sharing their own live trades.
Alright… Not one of the most exciting subjects we have ever covered, but definitely one of the MOST important.
Risk management is something so many traders “think” they have locked down, but actually what they are doing is taking themselves down a road of no return.
Both for them and their account balance.
And what’s worse…
There is a group that simply overlooks risk altogether, or takes some one-time advice that is usually completely inappropriate for them and the way they trade!
So how do you make sure you not only know what to do when it comes to risk management, but you ACTUALLY do it?
First Off…Know Your Numbers
Yes, it’s a small bit of maths, but knowing the simple multiples can save your account balance!
Let’s say you are risking 10% of your cash pot per trade.
But that only requires a 5 trade-losing run to be the best part of 50% down overall.
Oh well, I still have half my money.
Hang on!
You now need a 100% return on that balance JUST to get back to where you were 5 short trades ago.
Let that sink in for a second…
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