October Review

EUR/USD DAILY 10/29/10

The forex coach sees that most of September we had a trend, and most of October we were bouncing back and forth. Click on the chart for a larger view of this currency price action.

If you had some trouble holding your own in October the lack of a trend had a significant affect.

In November we will be hoping for a trend to develop, but we will be taking various actions to insure continued profits should the market vacillate back and forth as in October.

1. November is place no trades before 11 PM month. (Except on Sunday and if the market is really moving.)
2. In November trade only with the trend of the day
3. Cover trade to break even as soon as you are up 10 pips.
4. Go to the minute or tic charts for entry after drawbacks for entry.
5. Expect consolidations or reversals after big moves.
6. Do not trade reversals unless other markets or 5:30 and midnight birds are signaling.