This was another great session with the master. Loz took us through a bunch of currency pairs and did his analysis of if he was seeing trade setups or not and where/why/how we should set up our entry points. I know for me personally this was welcome as I am pulling all the concepts together well and can see a lot more setups than I could just a couple of weeks ago. However, the whole area of when to jump in exactly when you are getting conflicting info from the different time frames is something I look forward to seeing more of as it is still a sticking point for me.
As someone, I think Mike, said in the Skype chats, we are not seeing rocket science here, but to folks who have never been exposed to this it is amazing to sit and watch a professional at work. I think as more webinars come and go and we see Loz repeat his analyses we will get even more comfortable doing them on our own.
We also covered when to get out of a trade which is probably just as important as when to get in. The discussion got a little lively here as Loz proceeded to 'sternly admonish' (I'm presuming this a PG rated board so I won't use the term he used! ) one of the group on a lack of discipline in exiting a trade. We analyzed the trade and where would have been a good point to exit. It was evident even in his 'stern admonishing' Loz actually cares and genuinely wants people to do well. This session was well worth the price of admission and I look forward to the next one!!
Aside from a few technical difficulties, today's webinar was very good. Loz detailed how to determine the best entry and exit points for trades and provided real time examples. We watched as he opened a live trade and set stop loss and take profit levels. The trade was in profit and gaining before the webinar concluded. Some good questions were asked by the participants and Loz, as always, took whatever time was necessary to answer them all to their satisfaction. We also went over the ADX and IMACD indicators and gained a deeper understanding of convergence/divergence.
There were a few techical problems. The sound would cut in and out at times and there was also a very bad echo effect for a while. We were not sure if it was a problem with the Dim Dim transmission or with Loz's mic. But other than that, this was another super webinar. I always come away from these with a fresh outlook and more confidence.
Loz thnx again. Not sure if you know of that tv series 24 however Day 8 has just started here in the UK and your webinars draw a parallel with it. Each episode is as good or better than the previous. Today I didn't get to listen in on all as I take whatever time I can while at work and it was tough going. I was however present for the tuition on how to use the fibo lines to determine reversal or continuation of a trend. I thought that was very informative and a great lesson. Thanks again bud and take care.
Another great webinar Loz. I am fortunate to have good internet access so did not experience some issues that others had. I need to download the recorded version so I can go back over all that you showed us. Also, thanks for the tips on using the forex software, that alone has been a learning experience! My demo account is now up 150 pips after 5 trades! With your training and doing my own reading on how the forex works, I will be opening a real account in a couple weeks