I actually remembered to capture some screenshots for you yesterday from this easy EURUSD trade. Quite simply this was a great location for the potential of a turn up on the Daily chart, there was a few confirmations of the area and the trade was quite obvious. Now; this is not yet confirmed enough to be the Daily wave but we sure did enjoy several long trades on the EURUSD yesterday while we wait for it to decide. This is the beauty of WavEFX trading, safe trades and trades everyday of you want them!

Some more before and after images for you to see how simple WavEFX Trading really is. In this example we were following the short term trend of the counter-trend daily wave for a straight 1:1 risk:reward outcome. As you can see this trade worked out just fine and at a good intra-day pace. With all the tools here at ElectroFX we have managed to make trading as simple and as emotionless as it could possibly be. Some very basic understanding of the mechanics will allow you to profit from the Forex market using only minutes of your day.

I took these images last week and then completely forgot to post them for you. It’s just an example of how simple trading the ElectroFX VIP WavEFX way really is. In this image we have a simple Trend Continuation Trade on the GBPUSD. As always the 3 simple rules of WavEFX are followed, good location of support / resistance, solid entry trigger, and intelligent risk:reward potential. In this case we have an area of Support that was broken and then returned to from the other side where it then acted as Resistance. This was drawn in for you on the chart as you can see.

Just a little more insight into how easy I have managed to make WavEFX to follow. If you click this screenshot and enlarge it you will see 2 classic WavEFX trades, a trend continuation and a first confirmed wave turn. These were the first 2 trades of the day on the GBPUSD for January 22nd, 2013, let’s analyze them.

Trading robots have a bad name because most of them simply don’t work, or they were designed specifically to work with only the current market conditions in mind. The internet is riddled with these “amazing creations that cost only $300 and will make you fortunes” right? I’m sure you have seen them in numbers. What most people seem to neglect is that the market is organic in nature; it is driven by human emotions and reactions, volatility varies and it is not possible to create a mechanical trading machine that will work consistently on an ongoing basis unless it can adapt and react.

This certainly warrants a post, so many Forex Scams out there, so many people getting ripped off. When I say ripped off I am even talking about valid Forex courses that are overpriced, like you are being given the World or something. You will be warned about Forex Scams all over the Web but I write this article based on feedback from my VIP Members and a recent reminder that I witnessed for overpriced Forex courses.

There is a paradox within trading itself but when using common knowledge that applies to other jobs there is also a paradox about trading as a job. I want to talk mostly about the latter because I can summarize the prior quite quickly. With little thought you will realize that when some traders have their entry triggers to sell others will have entry triggers to buy and both can be profitable overall if they have a solid trading plan. Even that sounds like a paradoxical statement!

This common mistake can actually be broken down in to two sections. The first one being an amplification to fear of loss by trading with money you can’t afford to lose. The second being the personal fear of failure and/or the fear of letting someone in your life down. A whole lot of fear as you can see and to take a quote from a movie “Fear is the Mind Killer”. These psychological elements all need to be addressed before you start because they will have an effect on your results.