Forex Trend Alerts: 04/21/09

EUR/USD:

Short at 13150 (04/17) L/Closing: 12904 Floating: +246 pips

Hold Short and move stop lower to 13220 on close

GBP/USD:

Stopped out old position at break-even.

Reversed to Short at 14750 (04/20) L/Closing: 14481 Floating: +269 pips

Hold Short with 14830 stop

AUD/USD:

Stopped out at 6980 (04/20) Realized Profit: +410 pips

Reverse Short at 7000 or higher with closing stop at 7280

USD/JPY:

Stopped out at 9800 (04/20) Realized Profit: +60 pips

Reverse Short at 9800 or higher with closing stop at 10040 on close

USD/CHF:

Long at 11500 (04/17) L/closing: 11700 Floating: +200 pips

Hong Long and move stop higher to 11440 on close


Golden Words for Traders:

"95% of Forex traders underestimate how important preparation is for success, they show up to the battlefield totally unprepared and unprotected. When it is time to trade, you must think before you act. If you act before you think and make mistakes, your subconscious mind will take over and record all your ignorant actions and subconsciously create bad trading habits. This is how 95% traders start to lose money or just get by in trading. Successful traders think befoe they act to execute successful trading habits. They have a trading plan to setup the trading strategy before trade and the discipline to follow through their plan."