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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February 2006

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Week in Review

Posted 23:38 19 February 2006 | Comments

Since the US markets are closed this Monday due to President's Day, I'm just going to review my past week's activities.

I only picked out two trades for the week. I went for just ten pips on both, but I also picked out an aggressive profit target for each pick. Now if you went for just the ten pip targets you would have netted 20 pips for the week. If you had gone for the aggressive targets then you would be -18 pips for the week. Not a spectacular, action packed week of trading, but then again there was so much volatile news and choppiness. A really difficult week for many traders, but that's how the market is sometimes. Be on the look out on Monday night for a new Pipcrawler pick of the day.