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We are all familiar with the terms Fear and Greed, or at least we should be. We hear about them all the time. Everyone is always preaching to us about the dangers of these two powerful emotions. But do we actually realise just how powerful they are? And more importantly, how influential they are? After all, they alone are responsible for moving trillions of dollars a day. Now that’s real power.

Yes, these two little old emotions are just not given their due.

The good news though is that once you actually understand how they work, and no longer just “know” that they exist, then for the very first time, you will be able to take control of your trading future.

These are the two emotions that single handedly drive the entire currency market…yes…you read it right…emotions drive the price action, not some mysterious force,

Weekly Trend direction: Bearish

Weekly trend reversal level: 1.3340

Key G7 resistance levels: 1.2900/20, 1.2960, 1.3030, 1.3100

Counter-trend and scalping opportunities:

Strategy: Whilst below the weekly trend reversal level sell rallies to resistance levels after an entry signal. Today’s trade suggestion: A sudden reversal of fortunes for the Euro has created a large bearish weekly candle and a drop below last week’s reversal level. That means we are bearish this week, whilst below 1.3340, a long way above us. Remember that August is traditionally a tough month to trade due to thin markets creating sudden swings in both directions. The two hundred period moving averages are around about the first resistance levels between 1.2900 and 1.2960, and these are the first levels where we’ll look to sell. Targets will be back down at 1.2750 and perhaps lower.

Update: Pretty much ranged since the start of the week. The strategy remains the same – sell into

Weekly Trend direction: Bearish

Weekly trend reversal level: 1.3340

Key G7 resistance levels: 1.2900/20, 1.2960, 1.3030, 1.3100

Counter-trend and scalping opportunities:

Strategy: Whilst below the weekly trend reversal level sell rallies to resistance levels after an entry signal.
Today’s trade suggestion:
A sudden reversal of fortunes for the Euro has created a large bearish weekly candle and a drop below last week’s reversal level. That means we are bearish this week, whilst below 1.3340, a long way above us. Remember that August is traditionally a tough month to trade due to thin markets creating sudden swings in both directions. The two hundred period moving averages are around about the first resistance levels between 1.2900 and 1.2960, and these are the first levels where we’ll look to sell. Targets will be back down at 1.2750 and perhaps lower.

Summary: Sell rallies to resistance levels, starting at 1.2900, after a clear G7 entry signal. Target 1.2750 and

OK, so it’s Friday 13th, and just like any other day, the sun will rise, the coffee will be hot, the traffic will be sh*t and we’ll all go out for drinks after work…

Problem is, the markets don’t know that everything should be normal today. Some of the dice rollers at the top of the food chain will believe that today is either lucky or unlucky (depending on what their grandmothers taught them)

Superstition does strange things to markets. And we are in the middle of the vacation period, so things are jittery enough already.

Combine superstition with thin markets and Friday afternoon drinking, and you get a nasty trading market. On top of that, the euro and the pound have reversed their weekly directions, and are theoretically “no-go zones”

I am already way over my monthly target for August – surprisingly, as August can be crappy – and I won’t be trading

This is one of the most important and most overlooked parts of trading. Many traders take huge risks with their capital in the hope that they will “get rich quickly” or recover previous losses with one good trade. We would like to suggest some simple guidelines for managing your trading account with our G7 system, which will help you to reduce risk and maximize returns.

There is lots of additional information on money management on The Traders Club website, in the video library and other sections of the site.

• This means that for every dollar in your account, you should not trade more than 5 dollars per trade positions. For example, if your account size is $5000, you should trade no more than $25000 per position. This is 2.5 mini lots (a mini lot is worth $10,000)
• We prefer to leverage even lower

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.3040

Key G7 support levels: 1.3100, 1.3040/50

Counter-trend and scalping opportunities:

Strategy: Whilst above the weekly trend reversal level buy dips to support levels after an entry signal.

Today’s trade suggestion:
August chop already seems to have set in, with Friday’s NFP gains already wiped out, and nasty swings yesterday. We haven’t managed to get into any Euro trades this week so far, and just as well – bullish attempts would have been stopped out. For today, we’ll look to buy the euro into dips with just two support levels left beneath us: 1.3100 (yesterdays support low) and 1.3040/50 (the weekly reversal level and the 78.6% retracement of the last swing rally) Be careful of whipsaw, and don’t be in a rush to enter this market today. With over 300 pips in the bank already this month, I am willing to be

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.2860

Key G7 support levels: 1.2960/80, 1.2920, 1.2660/70

Counter-trend and scalping opportunities:

Strategy: Whilst above the weekly trend reversal level buy dips to support levels after an entry signal.

Today’s trade suggestion:
A messy old day on Friday (as expected on the last Friday of the month) saw some nasty whipsaws leaving the price essentially unchanged since Thursday. This week we are bullish yet again, with weekly support at 1.2860 and various support levels above there at 1.2960 and 1.2920. The strategy remains unchanged – but the euro into
dips after a clear g7 entry signal with a target of 1.3100 and perhaps higher. A word of caution – the price has reached just shy of the weekly 38% retracement level (see weekly) chart, and the euro is more overbought than it has been since October 2009. This means we are possibly due for a sharp correction,

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I managed to get this article and videos from Brian at Inside Out Trading and I think they make a lot of sense…

Brian here with 2 extremely critical “Best Practices” for traders that you really must not neglect, or your trading will suffer.

In my Quality Engineering days, we always sought to establish Best Practices wherever possible because it had a measurable effect on the bottom line, plus numerous other aspects of the business.

Now in trading there are Best Practices which will definitely benefit you and if you neglect them, your performance and your results are almost certain to suffer.

The First Best Practice

Highly successful businesses don’t just ‘happen’ by accident or by themselves.

…and you do want a highly successful trading business, right?

I mean you’re not in this for mediocrity or just something to do, are you?

No, you want a trading business that is consistent and most of all RELIABLE.

You want the

I want to share a recent conversation I had with a client last week,as it is a lesson I repeatedly keep trying to get across…

“Hi Chris,

Thanks for this I found it really interesting as although I’m not going to take up your great offer it re enforced to me exactly how I trade FX 10- 20 pips targets per day 5 lots at a time I’m in most trades for no more than 20 minutes, which has and is producing really well for me and I average around 400 pips a month total working for a couple of hours a day, this concept is exactly how I view the markets, get in get out enjoy your life.

So if it isn’t broke don’t fix it.

I spent a good couple of years trying to be in everything checking the markets all the time feeling like I missed out etc. now