The following is the weekly review for forex strategies covered in the EURUSD Day Trading Course.
In the video below I look at the patterns that occurred during the week as well as the price action of the day and how that affects our trading decisions.
These strategies can be traded during the London session to the New York lunch hour, but the analysis will be focused on roughly 830 to 1030 am EST.
These strategies are based on a 1-minute chart.
EURUSD Day Trading Strategy Review
Here is the weekly review video. In this video I focus on:
- Price action, and how it affects our decisions while day trading.
- What stop loss size is acceptable on a volatile day, especially if the movement is way bigger than what we are used to.
- What to focus on as a new trader (because I discuss some simple and pretty advanced stuff in these vidoes, as each trader is at a different stage in their journey).
- How to fine-tune your own entries and trading based on your prior trades.
- The patterns and trades that occurred throughout the week during the early US session
Here are this week’s charts.
EURUSD Day Trading Strategies Results
My forex day trading is going to be more sporadic for the next little while, so I am not posting profits and losses. Rather I will simply highlight the patterns on the chart. Study the course for the basic entries, and then you can always improve on those entries based on your weekly and monthly review of your trades.
Here are the charts and trades for the last 13 months.
- January 2021: +63R potential
- February 2021: +78R potential
- March 2021: +76R potential
- April 2021: +76R potential
- May 2021: +94R potential
- June 2021: +91R potential
- July 2021: +67R potential
- August 2021: +38R potential
- September 2021: +51R potential
- October 2021: +46R potential
- November 2021: +48R potential
- December 2021: +53R potential
- January 2022: +39R potential
“R” in trading is a standardized risk amount. It could be 1% of the account, 0.5% of the account, or any amount you choose based on your position sizing method.
In other words, if risking 1% of the account per trade, 45R means a 45% profit. If risking 0.5% per trade, it means a 22.5% profit.
Want to learn how to trade like this? Check out the EURUSD Day Trading Course. It covers strategies for crushing the EURUSD in two hours or less, as well as mental game work and exercises to get in the profit-making zone and stay there.
By Cory Mitchell, CMT
Disclaimer: Nothing in this article is personal investment advice, or advice to buy or sell anything. Trading is risky and can result in substantial losses, even more than deposited if using leverage.