by John Ingram Walker MD, and yesterday one line in particular

leapt out of the page at me…

You are what you do!!!

Only actions determine your value. To achieve your goals you need to act now!

Without action your goals are merely dreams and pretty worthless at best.

After I thought about it for a while it made total sense.

We can ‘think’ and ‘dream’ all we want,

but if we don’t take action then we are simply not going to achieve anything – ever.

Why is action so important?

Your activities become habits. Habits become your character.

Your character becomes your destiny. Doing the right things right minute by minute,

hour by hour, day by day develops strength of character that leads to success after success.

And no one can do that but you!

No ‘Guru’, professional trader or coach. Only you can take action.

You might need a guide to give you some direction overall,

but only you can determine your actions, and thereby determine your future.

Keep your eye on the prize!

Keeping your eyes on the dream will make your goals, activities and habits

a lot more enjoyable as well. You need to give your best to each activity,

but without a clear objective in mind these daily routines become

meaningless and boring and soon you lose direction altogether.

How do I do this? I have a daily” mantra”…

You are what you do; therefore do what’s right; do it well; and do it now!!!

Not sure if this will help you at all but I believe we need a plan to tackle each day.

If you are lacking a bit of direction then try repeating this for a week or two

and see how effective it is.

You quickly start to address daily ‘chores’ in a totally refreshing light,

and realise just how much time you waste ignoring what’s really important.

Also, check out James’s latest.

www.forex-science.com/50kchallenge.html

Now I know James tends to bore quickly himself, and move on to other projects

before he completes them, and the last few times he tried to get to 50k

he got to around 11k and then went off and started something else.

But, quite frankly if you get to 11k with him you would not have done half bad,

especially as there are no monthly fees this time around.

No doubt you will also be in a far more focused and meaningful place

then you might be right now, if you apply what you learn in context to what is outlined above.

So check out…

The 2011 $50,000 Forex Challenge at…

www.forex-science.com/50kchallenge.html

P.S. The zero monthly fee offer is limited to the first 100
traders. This year will be more exciting, more profitable
and more powerful than ever.

www.forex-science.com/50kchallenge.html

Cheers

Chris.

I hope this helps you in some way…

Update: Incredibly, the Euro has rallied almost 400 pips in the past two days in an impressive rally from 1.3000. It seems likely that we will move higher before the weekend, with the weekly reversal level at 1.3450 in near sight. We have also closed well above the last Fibonacci resistance level (the 78.6% level), which means there is only minor resistance at 1.3380/3400 above us. Still, strange things do happen in financial markets and it’s still possible that we may resume the downward weekly trend today or tomorrow. Watch and wait for a G7 entry signal, but be aware that selling into this powerful reversal is very risky.

GBP/USD:

Update: Sterling hasn’t been quite as impressive as the Euro, but we’ve still had a strong rally out of the choppy holiday range. Unfortunately, we haven’t had a chance to buy, as retracements have been shallow. We’ll continue to look for chances to buy into dips, with new support levels now at 1.5870, 1.5700 and 1.5640. The next few days will be VERY interesting, and may well determine the direction for the first trend of 2011 (we are overdue for a major trend)

Jan12th

IMPORTANT: This free report is not an express or implied recommendation, guidance or proposal that anyparticular Forex analysis or trade is appropriate to the particular investment objectives, financial situation or particular needs of any recipient.

EUR/USD

Weekly Trend direction:
Bearish

Weekly trend reversal level: 1.3450

Key G7 resistance levels:
1.3000, 1.3050/80, 1.3150/80, 1.3220, 1.3300

Counter-trend opportunities:

Strategy: Whilst below the weekly trend reversal level sell rallies to resistance levels after an entry signal.

Today’s trade suggestion:

After a long decline in the Euro during the holiday weeks, the weekly direction has turned bearish. This means that we are looking to sell the euro into rallies this week, whilst below the weekly reversal level at 1.3450. First resistance is at 1.3000, roughly where the price is currently hovering. However, there are no clear signs of reversal at this stage. Watch and wait over the coming hours. If 1.3000 doesn’t hold, expect the euro to move higher to 1.3050/80 and higher before reversing. As always watch for clear signs of reversal and a G7 entry trigger before selling. First target for short positions is 1.2850.

Summary:

Sell rallies to resistance levels after a clear G7 entry signal. Target 1.2850 and then 1.2700

GBP/USD

Weekly Trend direction:
Bullish

Weekly trend reversal level:
1.5350

Key G7 resistance levels:
1.5540, 1.5500, 1.5460/30, 1.5400/20

Counter-trend opportunities:

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

Today’s trade suggestion:

Last week, the pound formed an “inside week” in comparison to the previous week. This is viewed as a continuation pattern, which means that we remain bullish. This pair has really made a meal of it over the holiday weeks, with random fluctuations within a large range, making it difficult to identify clear support levels. Nevertheless, we have penciled in several black lines and a Fibonacci analysis and determined rough areas of support which we will be watching this week. Continue to look to buy into dips, but be aware that the chart is messy and potentially misleading. It is possibly better to remain sidelined until we see cleaner patterns and more direction on the chart. Support levels are listed above.

Summary:

Buy dips to support levels after a clear G7 entry signal. Be somewhat sceptical of the pounds intentions this week!

Daily Report 13th Dec

Enjoy

Thanks for all the great feedback on this- glad it helped so much.

I have placed them both on the same page so you can watch the video again before you put it into action.

Tradeplannersimple

Cheers,

Chris.

P.S. Just a quick heads up – you have less than an hour to get the TFD alert service. James is very close to full so Join the Forex TFD program now!

1. Analyze 5 simple criteria
2. Rate your probability set up from this on a 1-5 scale
3. Adjust your position size accordingly
4. Take unemotionally and with far greater confidence.

www.the-traders-mindset.com