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Thursday, 14 June 2012

No Trading today


I am strong believer that as traders in the end its your money, your learning and your decision. I also believe that its important that if we are going to coach, mentor and help you we need to offer our views clearly and responsibly.
So....
In My humble opinion from now until lunchtime Uk on Monday is a time when only experienced, successful traders should be in the market. If you have positions in the market you should consider closing them today, especially on Majors and Minors.
Its indeed possible position sizing for, and the eventual Greek re-elections will bring us nothing of note, but its also possible over the weekend we will see one of the biggest moves in the history of currencies. If this happens everything we know about trading will be different, stops will be slipped and most S and R levels will provide little impact.
I traded through the collapse of Lehman Brothers and the moves and retracements were instant and dramatic, they are potentially nothing compared to this.
If you want to have some fun, trade this on a demo and see what its like...
At this point i need to point out these are solely my opinions and are of a general nature only, you should get specific advise on all matters financial, and no liability is accepted

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