About Pick of the Day

Each day, I will try to find what I believe is the best looking short term trade setup for the upcoming trading day or week. If you're a forex newbie, it can be tricky in the beginning trying to figure out how to look at charts and draw lines. My goal is help you understand the psychology of price movements so you can learn to analyze your own charts and trade on your very own. I will post my ideas and/or reviews through out each session right here, on Twitter and on Facebook.

Read First: My Trading Framework!!

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April 2006

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Trade Review: GBP/USD

Posted 20:08 26 April 2006 | Comments

Well, we had our first big losing day in April...hopefully it won't be a recurring thing! As expected, UK GDP came out as expected at 0.6%. We saw a move in the pair and it triggered our short entry. The position was up as much as 20 pips before it reversed and stopped us out. - 40 pips! Shake it off and on to the next trade.