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Upcoming SO FX Masterclass

Upcoming SO FX Masterclass
The date for our next trading masterclass is London is fast approaching, we still have 18 seats left.

We will be heading back to London on the 20th May for a further Two days of Live forex education and Live trading.

Our latest Masterclass in March saw us filling a Trading floor in London with students travelling from as far as California, US to join us. This masterclass was a huge success, on day Two (Live trading) between 09.00 and 15.00 we banked a massive 211 pips, One student banking a cool 9% of his account in just 6 hours of trading.

After the successful course in London we now have a VIP trading group where all our students are now sharing Daily analysis and trades, these trades ranging from 1 hour to 1 week with huge success using the Two trading strategies they learnt on day One of the masterclass. From 21st March the minimum amount of pips our students have banked using the strategies is 500.

On the back of the trading masterclass in March we offered students Three forex mentorship courses ranging from 3, 6 and 12 months. These mentorship courses have been very popular, it includes one student embarking on a residential Trading course at the London Stock Exchange for 5 days of intense learning, he has also received a £50,000 trading account.

We look forward to teaching another 50 students in London next month, the Masterclass starts at just £499 or we offer the option for current clients and students to join us on day Two for live trading at just £249.

Get in contact with a member of the team Today to secure your seat.

Learn. Trade. Succeed.

SOFX Weekly Preview 22-26 January

Good Afternoon Traders exciting week ahead for all at SOFX as we host our first ever Trading apprenticeship on Wednesday, this is going to be good! WE would like to thank you all for your support as we sold this out in just 9 days. If you did not get a place don’t be disappointed because we have already released a date for February, 21/2/2018 put it in your diary and get your place secured!

Lets take a look at the week ahead on the Forex market.

USD (DXY)
Dollar index continued its Bearish run when printing new 3 year lows, It looks to be finding some sort of Support around the 90.00 level. With some important Fundamentals being released in the week ahead regarding the USD I would recommend staying clear of USD pairs until the dollar can find some Strength or we break the attempted Support.


I will be treading careful with what Pairs I Trade this coming week but below is One Trade set up I particularly like the look off;
GBP/NZD;
I have highlighted the reasons I like this Trade on the Image below but I will write them out so you can understand, We have this Ascending  Trend line holding from August 2017 that we have respected 3 times.
We have had a wedge forming since Mid December and we can see the Breakout on this Daily chart.
The red highlighted region is Resistance turning support which helps with continuation of the Bullish trend.
Targets;
LONG with 1st Target at 1.92310
2nd target at 1.94343


Good luck with your Trading in the week ahead and I look forward to working with all of our new SOFX Apprentice’s

5 Things you must Check before Entering EVERY Trade

You’ve Done all the Hard work, You’re just about to Enter a Trade so ask Yourself what do I need to check before Entering?

Would a Pilot Fly a Plane before doing Their Pre-Flight checks? Most Definitely Not.
Would you Drive a car on a Long Journey before doing Pre-Driving checks? Most Definitely Not.

Entering a Trade on the Forex market should be no different, You need to make sure you and Your Analysis are in the Best Condition before entering the Market.

Below I have Discussed 5 Easy Steps to Check before you Enter your next Trade.

1 – Are you Approaching any Key Levels?

Have you started your Analysis on the Monthly or Weekly time frame and identified Key Monthly levels?
Sometimes on the Lower Time Frames Key Levels are not so Clear so Always make sure You start on the Higher time Frames and mark any Support or Resistance Zones.



2 – Have you got Confluence of Factors?

You’ve spotted a potential Trade on the Charts and it seems pretty Obvious and Straight Forward, Right? Wrong.
You need more than ONE Indication that the Trade is going to go the way you Predict.
Have you had Rejection from a Key Fib level? Have your Moving Average’s crossed? Have you had a False Breakout? Is RSI Overbought or Undersold?
The more Confluence’s you have for One Trade the better chance you stand of making Pips.

3 – Are you in the Correct Mindset to Trade?
Probably the Single most Important Factor to being a Successful Trader is YOU.
Are you Stress Free? Does the Trade have your Full Focus? Have you Forgotten about Your Last Trade? Then you may be in the Correct Mindset to Enter your next Trade. Only You will know the Correct answer, you need to be Honest with yourself.
Why You shouldn’t enter a Trade, Are you stressed? Are you under the Influence? Are you Over Confident from your last Trade? If you are any of these then Do Not Enter any Trades, being over Confident from your Last Trade can increase Risk. Being Clouded by stress or Worry can cloud your judegment.

4-Have I got the Correct Risk to Reward scenario?
Is Your Risk to Reward Ratio a minimum of 1:1? Ideally you want to find Trades with a Risk to Reward Ratio of 2:1 or more. You need to make sure both your Stop Loss and Take Profit are set at the Correct Levels i.e Stop Loss is at the end of a Wick on a Pin Bar and Take Profit is at a Key Resistance Level.




 

5 – Are You using the Correct Lot size?
Have you worked out what 1% of your balance is before Placing the Trade? Or are you looking for a Longer Term Trade with a 3% Risk?
You then need to know what Lot size You should be Trading with each Trade. Once you known a safe Lot size for your Account balance you need to work out if it fits with your Risk:Reward, how many Pips can you afford to Lose in One Trade?
Below is an example:
Account size - £1000
1% = £10
Trading at 0.01 Lot size this will give you a Large 100 Pips Stop Loss.
Trading  0.1 this will give you 10 Pips Stop Loss.