Earlier in the week, we spoke of shorting the NZDJPY and why we are doing so. Check out the YouTube video above for the breakdown…
Not only did we short the market Tuesday we did so again today in line with our strategy. This was due to our overall analysis and a bigger picture of the market.
Now typically when a new trader begins their journey they see a lot of currency pairs and believe it’s the right thing to do to look for as many opportunities as possible across all the currency pairs.
This is a quickfire way to losing everything.
It is more important to understand WHY a currency pair could move and where the key areas are to focus the attention. Once you do this you can look for the opportunities on that particular pair.
If you had just focused on the currency pair alone this week, you would have taken 3 trades and all would have been profitable.