With the recent launch of my Forex Mastery Program, and the special bonus live trading session we had at the start of the week…
I wanted to take a moment to discuss one of the trades we placed.
My hope is that you can see not only the benefit of Forex, but also gain a better understanding of how to place the trades going forward.
The trade we’ll be discussing, Gang?
The USD/CAD trade…
STEP ONE: USD/CAD Forex Mastery Trade
It’s one of the first of six trades that I set up for my Forex Mastery Members, and it was set up on the daily time frame.
Which means?
I’m looking for a move that will last days — perhaps even a couple of weeks if the trend resumes. This is important to me because I’ve always liked to give myself (and my Members) enough time to catch the trend and to take a breather. For me, it’s not necessary (in this market) to be in and out within minutes, Gang.
What’s the trend we’re catching for this trade?
It’s a long US dollar and short Canadian dollar trend. The entry levels posted were 1.4005 and 1.3885. And I’ve included a screenshot of the trade, so you can see its move:
Now if you’ll notice on the chart above, there’s multiple entry levels… why is this?
The idea of having multiple entry levels (up to three) is so that a Forex Mastery Member can “choose their own adventure” as I like to say for the risk of the trade.
STEP TWO: Risk Tolerance
After all, risk is not “one size fits all”. And oftentimes, risk is the challenge traders face when following setups and alerts.
I’ve said it time and time again in the Futures Live Trading Room, in Daily Videos, and in Countdown Trader. In fact, that’s one of the main reasons I decided to launch my Forex Mastery Program…
I want to let traders of all account sizes and risk tolerance benefit from trading Forex.
The trade also took a few days to trigger after the alert was sent, and this allows traders the time to learn and see the setup. As well as, put the order for the trade in on their broker’s platform.
The last thing someone learning how to trade a new market needs is to be rushed. Especially being rushed into a set up they don’t understand the risk of… and don’t have the time to put on.
STEP THREE: Profit So Far
This is why the alerts in the Forex Mastery are designed the way they are.
Like I said earlier, even after two decades, this is still how I like to put my own trades on, Gang!
Now for profit talk…
So far from the conservative level, this trade is up 200+ pips which is $1400 per full-size lot from the conservative entry. From the aggressive entry? It’s up an additional 85 pips and nearly $600.
Not bad, Gang.
