Update on the Forex Markets from London, England
In This Video:
01:09 Update on the Forex Markets
01:57 Trading on the Fly, Literally
Hi, well I’m coming to you with a “selfie” from London for this week.
Let’s talk about what’s happened in the currency markets and what I am doing over on this side of the world, so let’s get into that right now!
Hi Forex Traders, Andrew Mitchem here, the Forex Trading Coach. Today is Friday, the 30th of January, and I’m over here in London, as you can tell, the Big Ben up there behind me and Westminster Abbey over here; and I’m here for a trading conference that’s on Saturday, Sunday, Monday and Tuesday, this week. So, been on the 29-hour flight over from New Zealand over to London, and certainly a lot colder over here, being winter-time!
Really looking forward to catching up with a lot of people at the conference, at the weekend! There’s a lot of new products being launched to do with trading, in general, and, of course, the Forex market and here to catch up with some brokers as well and really find out what are the better brokers around so I can, then, pass that information on to you guys and my clients and everybody who follows me.
Update on the Forex Markets
In the markets this week, well, the Australian Dollar’s (AUD) continued to fall further. I actually recommended a sell-trade on the Aussie/US Dollar (AUD/USD) on the weekly chart, to my clients on Monday, before I left New Zealand. And that was a retracement order and it retraced absolutely perfectly. It went no more than five pips negative and when I’ve looked at my charts, just about an hour ago, that trade was up about three and a half to one (3 ½ – 1) risk-to-reward trade and still not hit full profit but going really, really well.
And, the New Zealand Dollar (NZD) has also fallen a lot this week and the US/Canadian (USD/CAD) has continued to rise. Of course, the Euro (EUR) continues to fall and the British Pound (GBP) has also fallen with some strength there in the US Dollar (USD).
Trading on the Fly, Literally
As I’ve mentioned so many times before, that the beauty of trading is that you can trade longer time-frame charts. All I’ve traded this week, myself, is the daily charts and weekly charts, as I’ve had quite a lot of travel to do this week, obviously.
But you can still make some great money – so far, this week. I’m still up around three percent (3%) for the week and I’ve spent most of the week on an airplane and now, so finally, on the other side of the world. So, yet again, another benefit of the wonderful market that is the Forex market and how you can travel, trade and not glued to the screen all day and not glued to a 9 to 5 job.
So, I’m off to meet some people now and get ready for the conference I’m going to, so I look forward to bringing you really good and useful information that can help you with your trading, this time next week, once I’ve attended that conference and been through that and picked up some more ideas and some more opportunities for all of us.
So, that’s it from London and the “selfie” video. I’ll still record another video from here next week, just before I leave. But that’s it for now – this is Andrew Mitchem from The Forex Trading Coach saying goodbye from a rather chilly and cold London.
Bye for now!