Another Great Scalping Day!
Today, Chief Trader Armando Martinez takes entries on both the EUR/USD Currency and the AUD/USD Currency at the same time. Armando cautions that taking positions on multiple currencies simultaneously can be overwhelming and confusing, especially for novice traders and that it is not recommended. Both positions are very similar and he follows as the currencies are in parity. Both trades are advanced trades with active positions and he makes sure to protect himself immediately on both. He watches PMDs in the 1M, 5M, and 15M Time Frames to gauge a general direction of the market and ends up taking +7 PIPS on the EUR/USD and +8 PIPS on the the AUD/USD, all in less than 5 minutes! Learn how to consistently profit in the Forex market by identifying precise entries and exits with the FXPM™ Software and ForexSuccessfulTraders Online Training School.
Filed under: Daily Learning Moment
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