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In this video:
00:25 Looking for some really good price action
00:35 Taking position on the Australian Dollar/US Dollar, Australian Dollar/Japanese Yen
01:08 Short position on the Euro/Canadian Dollar on the four hourly charts
01:41 Trust the Strategy; let the trade do its own thing
01:46 The set and forget approach’ mental effect on trade
02:16 Keeping risk low per trade

Hi everybody, Andrew Mitchem here, The Forex Trading Coach.

Today is Friday, the 7th of September 2012 and thank goodness it’s September!

The quiet month of August is behind us.

Now the European and the US markets are back after their summer holidays. We’re looking for some good price action. And we’ve finally seen some today!

I’m long on the Euro US dollar on a daily chart from yesterday, being Thursday and today I’ve taken a long position on the Australian Dollar/US Dollar and also the Australian Dollar/Japanese Yen. And right now, behind me those three trades are looking really good.

Yesterday I held my webinar, my fortnightly webinar for my clients. We had one hundred and six people on that webinar from all different countries around the world.

Really good webinar!

A lesson in it for me, was a lesson that I tell my clients and I forgot to do myself was let the trade do its own thing.

I’ll give you a really good example:

Yesterday I took a short position on the Euro/Canadian Dollar on the four hourly charts in front of my clients live on a live account. After the webinar had finished, the trade and was looking in really good profit.