The Trend Is Your Friend & How to Profit from it

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#467: The Trend Is Your Friend & How to Profit from it

In this video:
00:26 – Trading the trend
01:15 – Why did I take this trade on Silver?
02:57 – Can you trade reversals?
03:45 – One of the best FX brokers is Blueberry Markets
04:57 – Ask me questions
05:25 – Follow my free daily strength & weakness analysis

The trend really is your friend, so how do you profit from it? Let’s talk about that and more right now.

Hey there, traders. This is Andrew Mitchem here at The Forex Trading Coach with weekly video and podcast number 467.

Trading the trend

You’ve all heard the phrase, “the trend is your friend.” It certainly is. But how do you trade the trend? How do you make it your friend? How do you profit from it? That’s the most important thing, isn’t it? So I want to give you some actual live examples.

I was just putting everything together to make this video for this week, and right behind me on our forum site someone about 10 minutes ago at the top of the hour wrote and said, “There’s a great looking sell trade on silver on the one hour chart. XAGUSD on the one hour chart.” Went and had a look at my charts, go absolutely this is an amazing trade, taking it. It’s over my shoulder here, it’s dropping right now and it’s in profit already and I only put the trade on a few minutes ago.

Why did I take this trade on Silver?

Why did I take the trade? Well, as I mentioned the trend is your friend and it really is. So for this week I’m looking at shorts on silver again