Another Great Scalping Day!
Today, Chief Trader Armando Martinez decided to stay out of the market as there weren’t many ideal opportunities to take trades. This time of year is notorious for being quite slow as the holidays approach and traders become more and more conservative in their trading to avoid shallowing out their accounts and to meet their annual quotas. We have, however, posted a trade from August 9th where the market was moving much more than that of today. In this particular active trade, Armando takes two fills on the GBP/USD currency as PMDs in the 1M Time-frame of the FxPM™ Matrix close in together and flip direction. After about two minutes, he exits his first fill for +11 PIPS of profit, then brings his stops closer before waiting for the price to meet a black PMD in the 1M Time-frame. He sees this level as a good level of support for the price and an ideal level to exit the position with +20 PIPS of profit, netting +31 PIPS of profit altogether! 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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