(FxPM) Forex Price Movement: Trade of the Day

Today, Chief Trader Armando Martinez talks about EUR/USD and explains a possible trade where he sees strong support with that currency pair. Armando passes on the trade and explains why, but cautions traders that do choose to take the trade to use a very tight stop since the price action was very slow coming down to the support level. In the live training room a few traders did take +20 PIPS from the suggested area using very tight stops that Chief Trader Armando encouraged traders to use. Learn how to generate consistent profits and emotion-free trading in the Forex market long-term with the FXST Trading System.

Today, Chief Trader Armando Martinez takes a passive Power-V trade on the EUR/USD. Armando planned his entry where he saw strong support and quickly placed his very tight stop-loss right below the entry level. Chief Trader Armando took a quick profit of +8 PIPS in less than a minute! Learn how to generate consistent profits and emotion-free trading in the Forex market long-term with the FXST Trading System.

Today, Chief Trader Armando Martinez talks about how important it is for traders not to set daily goals in dollars and not to force themselves to make trades everyday. He explains that it is the wrong mindset to have in trading and that the right goal to have everyday is to protect the capital. Armando says it's best to capitalize on the right opportunities when they present themselves. Armando also tells traders that opportunities will present themselves that fit their comfort and don't have to force to make a trade everyday. Learn how to generate consistent profits and emotion-free trading in the Forex market long-term with the FXST Trading System.

Today, Chief Trader Armando Martinez talks about how important it is for traders to be patient and why not to trade the slow market conditions. Armando says that it is best to be out of the market during these times because it is easy to get caught since the market can go either way with these conditions and that the risk to reward isn't worth trading. Learn how to generate consistent profits and emotion-free trading in the Forex market long-term with the FXST Trading System.

We experienced some technical difficulties as the recording for today was corrupted. Fortunately, we have posted a trade from May 03rd, 2012, where Chief Trader Armando Martinez takes a passive buy position on the EUR/USD using a PIP-ONACCI Wall trade setup. Armando takes a buy position from a very strong 4 hour support level as it hits a buy signal on the FXPM Matrix software and uses that to determine his entry. In less than a minute Chief Trader Armando takes a quick +15 PIPS in profit! Learn how to generate consistent profits and emotion-free trading in the Forex market long-term with the FXST Trading System.

Today, Senior Trader Matt Miller takes a passive buy position on the EUR/USD where he sees strong support. Matt based his decision on a PIP-ONACCI Wall trade setup. Senior trader Matt collects +10PIPS and displays good position management in his trade! Learn how to generate consistent profits and emotion-free trading in the Forex market long-term with the FXST Trading System.

Today, Senior Trader Matt Miller takes a passive buy position on the EUR/USD where he sees strong support. Matt based his decision on a PIP-ONACCI Wall trade setup with a combination of using the previous day low which was at 1.2515 to plan his entry. Senior trader Matt collects +9PIPS with a few seconds! Learn how to generate consistent profits and emotion-free trading in the Forex market long-term with the FXST Trading System.

Today, Senior Trader Matt Miller takes passive buy positions on the EUR/USD and AUD/USD where he sees strong support. Matt takes his first trade on the EUR/USD at the low of the day where he sees strong support and using the PIP-ONACCI Wall trade setup. Senior trader Matt Miller quickly collect +8 on half of position and the rest at +11 PIPS! Later in the session during the London close Matt Miller takes buy positions on AUD/USD using a PIP-ONACCI Wall trade setup where he sees strong support. Senior trader Matt collects +7 on half and +11 PIPS on the rest of his positions! Learn how to generate consistent profits and emotion-free trading in the Forex market long-term with the FXST Trading System.

Today, Some of the FXST community traders took passive buy positions on the EUR/USD where they saw a strong support level. The traders based their decisions on a PIP-ONACCI Wall trade setup where there was strong support. The trades were taken with very tight stops and most members in the community collected +10 PIPS in profit! Learn how to generate consistent profits and emotion-free trading in the Forex market long-term with the FXST Trading System.

Today, The main trade on EUR/JPY that was taken in the room wasn't able to be posted due to projection error. Due to the problem we posted a trade that some of the FXST community traders took on the EUR/USD where they saw a strong support level. The traders took buy positions and based their decisions on a PIP-ONACCI Wall trade setup where there was strong support. The trades were taken with very tight stops and most members in the community collected +7 and +14 PIPS in profit! Learn how to generate consistent profits and emotion-free trading in the Forex market long-term with the FXST Trading System.

Today, Senior Trader Josh Wilson warns traders to take extra caution during the non-farm payroll numbers. Josh takes a extremely passive buy position on AUD/USD off of a PIP-ONACCI Wall Extreme trade setup where he sees very strong support. Senior Trader Josh displays how he manages his trade from entry to exit. Josh collected +7 on half, +17 on 25% of the remaining, and +37 PIPS on the rest of the position! Learn how to generate consistent profits and emotion-free trading in the Forex market long-term with the FXST Trading System.

Today, Chief Trader Armando Martinez explains to those that like to trade breakouts and how to best trade them. Armando points out that it's best to trade them at good levels with good replacements. Armando says that by trading good levels you don't have to have big stops and you can minimize your risk. Learn how to generate consistent profits and emotion-free trading in the Forex market long-term with the FXST Trading System.

Today, Chief Trader Armando Martinez shows traders in the room how market makers think using EUR/JPY as the example. Armando shows traders why it's always good to collect profits and set the stop-losses of the rest of your positions at break even or with trailing stops. Chief Trader Armando shows how greed can wipe out your account with these type of moves. Learn how to generate consistent profits and emotion-free trading in the Forex market long-term with the FXST Trading System.

Today, Chief Trader Armando Martinez takes an active buy position on the GBP/USD pair. Armando takes a buy there because it is where he found strong support that the price would hold. Armando uses the 1 minute PMD's to plan his trade and for the them to turn into a RE-FUEL trade. Chief Trader Armando sets a -10 pip stop-loss! Armando had set his limit and the price reached it making +20 PIPS in profit! Learn how to generate consistent profits and emotion-free trading in the Forex market long-term with the FXST Trading System.

Today, Senior Trader Matt Miller takes a passive buy position on the EUR/JPY pair. Matt takes a buy because it is where he finds strong support and reminds traders to be cautious as the Fed Chairman Bernanke was speaking. Senior trader Matt collects +9 pips on half and later +16 PIPS on the remaining of his position! Learn how to generate consistent profits and emotion-free trading in the Forex market long-term with the FXST Trading System.

Today, Chief Trader Armando Martinez takes an active buy position on the EUR/USD pair. Armando uses the Re-Fuel trade setup where finds a good support level and a shift in the short term momentum. Chief trader Armando uses a very tight stop and displays how he manages his trade. Four minutes into the Armando collects +7 PIPS! Learn how to generate consistent profits and emotion-free trading in the Forex market long-term with the FXST Trading System.

Today, Chief Trader Armando Martinez takes an active buy position on the EUR/USD pair and suggests the trade to members in the Live Training Room. Armando uses the low of the morning with a combination of using a 5 minute PIP-ONACCI Wall where he finds a good support level. Chief trader Armando uses a very tight stop just below the low of the morning and collects +11 PIPS! Learn how to generate consistent profits and emotion-free trading in the Forex market long-term with the FXST Trading System.

Today, Chief Trader Armando Martinez takes a passive buy position on the EUR/USD pair. Armando practices patience and uses the PIP-ONACCI Wall trade setup where he finds a very strong support level to enter his trade. Chief trader Armando uses a very tight stop. Armando collects +7 PIPS on half and +10 PIPS on the remaining of the position! Learn how to generate consistent profits and emotion-free trading in the Forex market long-term with the FXST Trading System.

Today, Chief Trader Armando Martinez takes an active buy position on the EUR/JPY pair. Armando uses the 5 minute PIP-ONNACI wall trade setup where he finds a good support level. Chief Trader Armando uses a very tight stop and sets his limit. Twelve minutes later Armando's trade hits the limit for +10 PIPS! Learn how to generate consistent profits and emotion-free trading in the Forex market long-term with the FXST Trading System.

Today, Chief Trader Armando Martinez takes an active sell position on the GBP/USD pair. Armando uses the 1 minute PMD's and anticipates a Refuel trade setup. Chief Trader Armando uses a very tight stop. Four minutes later Armando collects +9 PIPS! Learn how to generate consistent profits and emotion-free trading in the Forex market long-term with the FXST Trading System.