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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May 2006

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Trade Review: GBP/USD

Posted 22:45 16 May 2006 | Comments

As you can see by the chart we saw some volatility push the pair down to hit my short trigger and then bounce back up. Doh!!! Seems like I know how to pick reversal points, eh? Well, today was another loss. Hopefully we will do better with the next pick!

Lot 1: -40 pips

Lot 2: -40 pips

Total: -80 pips