FX Live Day Trading Live Forex Trading Room Results | 02/07/2013

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Today we went over several things we learned over the last week – Non Farm Payroll takes no prisoners so it was important to know your risk before you had any trades. It is important to use Money Management, Risk Management, Stops, Lot Sizing, how much risk you would like to apply to a trade will depend on your risk appetite, we discusses the ability of certain large money pools to effectively move the financial markets with sentiment. Having a trading plan is another topic we discussed. Once you determine your risk then you must develop a plan and goals like any other business.

Once you have your plan and goals set then it is important to combine money management with technical analysis to gather a good trading system. The last thing you want to be doing is taking trades on a whim and waiting to see if the trade works out. we call this trade praying. Taking a trade and then praying that it goes your way is no way to trade.In our live forex day trading room you will learn how to apply the proper plan and learn to gain an edge in trading.

These are the fundamental blocks in our Live Forex Trading Room – I will add some videos next week and discuss some more setups.

See more info at http://fxlivedaytrading.com