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Analyzing Your Bad Forex Trades

Last week, the week of July 25th, 2016, I got my teeth kicked in on my trades. Out of 18 trades, only 3 was profitable, that is a terrible result. Because of that result, I decided I needed to find out why my Forex trading results were so bad, especially since I'm usually very successful in my trades and the week before, the week of July 18th, 2016, I banked around 1250 pips. This week, the week of August 1st, I have just today, August 3rd, 2016, banked over 200 pips, the main reason is because I'm following my trade setup, my chart setup and my entry criteria. As you will see from my video that shows how I analyzed my trades from last week, they key is to follow your setup, your trading criteria's and don't take a trade if it doesn't fit your trading criteria. Additionally, I have noticed that the 3rd week of each month is absolutely garbage, it is the cash out week, it is like the month end closing of a car dealership and anything goes in order to bank pips by MM (Market Movers). The best way to trade the 3rd week of each month is small TP (take profit) goals, 15-20 pips, cash out, get back in, don't forget to ALWAYS set your SL (stop loss). Ok, enough of this chatter, now to my video, review and let me know what you think. Hopefully you can take away something from this Forex analysis video. I tried to play a video in the beginning of my video but the sound didn't make it, here is a link to the video and it shows a guy who loses $1500 in about 3 minutes, try not to laugh 🙂 CLICK HERE TO SEE https://youtu.be/o413ojfAAms

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Last week, the week of July 25th, 2016, I got my teeth kicked in on my trades. Out of 18 trades, only 3 was profitable, that is a terrible result.

Because of that result, I decided I needed to find out why my Forex trading results were so bad, especially since I’m usually very successful in my trades and the week before, the week of July 18th, 2016, I banked around 1250 pips.

This week, the week of August 1st, I have just today, August 3rd, 2016, banked over 200 pips, the main reason is because I’m following my trade setup, my chart setup and my entry criteria. As you will see from my video that shows how I analyzed my trades from last week, they key is to follow your setup, your trading criteria’s and don’t take a trade if it doesn’t fit your trading criteria.

Additionally, I have noticed that the 3rd week of each month is absolutely garbage, it is the cash out week, it is like the month end closing of a car dealership and anything goes in order to bank pips by MM (Market Movers). The best way to trade the 3rd week of each month is small TP (take profit) goals, 15-20 pips, cash out, get back in, don’t forget to ALWAYS set your SL (stop loss).

Ok, enough of this chatter, now to my video, review and let me know what you think. Hopefully you can take away something from this Forex analysis video. I tried to play a video in the beginning of my video but the sound didn’t make it, here is a link to the video and it shows a guy who loses $1500 in about 3 minutes, try not to laugh 🙂 CLICK HERE TO SEE

About Chris

Chris Wittusen started trading in early 90's, mainly in stocks but is now mainly trading in Forex (currency trading). He also manage a successful Forex group on Facebook, where he shares his knowledge to other people that want to learn more about how to trade in Forex. His technique still applies to both Forex and Stocks due to his style of naked chart trading along with box trading.
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