30th April - GBP falls


a good morning on the markets..........

the G8 changed dynamics just as london woke up

depending on how quick you realised that GBP was selling hard was the key .........and the second phase of selling cable 30 pips was easier than the first phase of 20 pips ........see chart below

i was on it from around 7.10-7.15 (phase 1) from other strengthmeter charts not shown .....cable is always my first port of call when i'm trading gbp .........easiest one and best spreads

GBP has continued as the weakest and usd has been the strongest currency all morning so far (luckily for me)...so cable is easily THE best play of all 28 pair combinations for London session so far

i rarely trade THE #1 currency pair trade for a session ..thats hard .....but i always aim to be in the top 3 pairs .....................thats all i need to make consistent money ...

now do you see why most traders lose ? ..........how are you doing by consistently choosing the top 10-15% of possible trades in the G8 at all times ? .....the Hell.....without strengthmeters.... traders dont even know if they are in the top tier or not !!

so remember ...each time you take a pair trade on the major 8 currencies you have JUST a 28/1 chance of picking the best one .......thats low low odds unless you are a good trader using the right tools

thats why using strengthmeter dynamics is sooo important ....to me anyway

N

what do i mean by 28 pairs ?...see the next Blog post


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