In this video:
00:29 Had massive strength continue in the Euro once again
01:14 Seeing some strength on the CAD/JPY
01:25 US employment data coming up at 8:30 on Friday – American time
02:06 CAD/JPY on a buy trade looking to continue upwards
02:13 Up about +1.3% earlier in the week
02:25 Had some fantastic feedback regarding the free training webinars
03:36 Annual return from trading just ten minutes once per day
How much would you like to earn this year from trading for just 10 minutes per day?
Hi traders Andrew Mitchem here the Forex Trading Coach.
Welcome along to another weekly video.
The EUR Strength continues
Well everything that I said last week has come through. Remember last week I was talking about the Euro strength: will continue? I said probably it was going to. And of course this week we’ve had massive strength continue in the Euro once again. And I also said about the weakness in the JPY and that’s continued again this week with all currencies heading upwards against the Yen. So we’ve had the EUR/JPY, the GBP/JPY, AUD/JPY, NZD/JYP, CAD/JPY, the CHF/JPY and USD/JPY – all of them have increased against the JPY. So huge weakness there, and remember I said that on last week’s video.
A weak AUD$
I also mentioned at the end of last week’s video that the Australian Dollar was looking weak and you'd have noticed that has come through as well this week with AUD$ being fairly week. Interesting that the NZD$ has been relatively strong and today I’ve also taken a buy trade on the CAD/JPY so I can see some strength in the CAD/JPY today. And that’s open behind me right here going very nicely at this stage.
US Non Farm Payroll's today
Remember also today is the Non-Farm Payrolls. So that’s the US employment data coming up at 8:30 on Friday – American time. So for those of us this side of the world, that’s around 2:30 in the morning in New Zealand. So 8:30am US time American time in New York – Non-Farm Payroll.
Close out your open trades
So at that stage, make sure that you close out any shorter time frame trades before that news announcement. With the longer time frame charts like the daily chart, say if you have weekly trades open, you could probably keep those open going through the announcement but anything from let’s say a four hour chart and lower, definitely close that before the employment data comes out.
Buying CAD/JPY today
I’ve taken just the one trade today. Like I mentioned, the CAD/JPY on a buy trade looking for that to continue upwards.
This week's profit
I was up about +1.3% earlier in the week on my account for this week. Just come back slightly I had a few losing trades yesterday but still it should end up being a good week overall.
Free Forex Trading Webinar – register
Had some fantastic feedback from people regarding the free training webinars that I offer. So if you haven’t seen that yet, make sure you sign up to that on the website here and for those of you who do attend that I’ve got a really special offer near the end of the one hour presentation. So make sure you jump on those free training webinars. I’m holding them twice a week. So regardless on where you live in the world there’s one that you can watch.
A Question for You
And then lastly, just wanted to talk about, yeah the poll I was going to ask. I was going to get a poll out to people but I thought I’d ask you on this video instead.
“How much would you be happy making in one year with really low risk by trading just ten minutes once a day?”
If you’ve got a figure in mind and make it a sensible figure that you’d be genuinely happy with. Email it through to me if you could. So email it through to [email protected]
I'd be really interested to know what your thoughts are. So I’m looking for an annual figure.
What amount would you expect, or to be comfortable with? What would like to have as an annual return from your trading if you were to trade just ten minutes once per day?
And that’s it.
And risking around let’s say half of 1% per trade (0.5%), how much would you be happy with?
Email it through to me. I just being interested to know because I’m putting together something in the next week or two that could have a bearing on the results that I get.
Just interested to see what you think.
Email it through to me. I’d love to hear from you. Thanks for helping out.
Talk to you this time next week.