The Forex coached trading strategy is an intra-day strategy using methods of identifying trades adapted from some of the best traders and educators in the industry. At the core of the current strategy are trades based on a specialized way of executing “pivot trades”, break out trades, and a method of trading at the time of economic news announcements that was developed in-house. These techniques are simple to follow, have a good success ratio, and are commonly used by banks, financial institutions and professional Forex Traders alike to trade currencies on the foreign exchange.
By intra-day we mean that it will be only rarely that a trade will extend beyond an 8-10 hour trading session. Since most of the trading volume occurs in the 4 major currency pairs we will concentrate on those, with occasional trades in usdcad, and audusd. Also, since the major currencies tend to move at the same time in the same “dollar moves” we will pick the currency pair which is leading the move and trade that pair rather than make a flurry of calls with each move. This will keep trading simpler and easier to manage.
Our ‘Trading Results’ page shows the actual results generated by performing one trade in a major currency move at one time. Although currency moves are reflected in other currencies simultaneously, Forex philosophy is to provide focused real-time coaching by determining the currency leading the move and entering one trade at a time because this approach enables more trading manageability and greater risk management for our subscribers. Profits may then be further increased, at the subscriber’s option, by simply trading more lots in that one trade.
Research shows that the average move for a currency during a session is reasonably large (76 pips for EurUsd) and quite consistent. A trading goal then will be to identify the direction of the major move for the session and find the safest possible entry point to catch as much of the move as possible.
In our own trading we use very stringent risk management protocols and encourage subscribers to do the same. To that end, we offer a free coaching session to any member subscriber who wishes to develop or obtain feedback about their own risk management strategy.
Due to the nature and time frame of trader coaching on a Live Platform, several types of trades are not suitable to be called even though they offer excellent trading opportunities. Our Private Coaching or Training Seminarshowever do teach these other trading concepts as quick 10-15 pip in-and-out trades, opportunities created by spikes, trading Yen, higher risk/reward trading, mirror-currencies trading, long-term trend trading, range trading, additional pivot point techniques, and more.
The trade that you see on the chart below was plotted using the trading strategy described above. Here you see the Pivot Point Strategy chart used in an actual trade that occured Friday, Nov. 28, 2003 where EURUSD was traded for a 76 point profit.
Pivot Point Plotter by Forex-Advisor
Friday, Nov. 28, 2003 Trading Strategy :
The trade was entered at point “A” on the chart buying EURUSD at 1.1904 with a target price of 1.1980.
Later at point “B” half of the trade was closed at 1.1936 for a 32 pip gain and the stop loss was raised to break even to protect the second half of the trade.
When the price reached our target of 1.1980 at point “C” the second half of the trade closed automatically with a 76 pip gain.