Let’s Talk Forex with Alison and Chris

Flexibility is crucial in forex trading due to the dynamic and unpredictable nature of the currency markets. Prices are influenced by several factors, including economic indicators, geopolitical events, and market sentiment, which can change rapidly. In this episode, Alison and Chris discuss why flexibility is so important in Forex trading and how you can achieve it without taking unnecessary risks. Link to the Pivot Point video as discussed in this episode: https://youtu.be/jB7dhCn8TBI FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

Losing his job was the trigger that propelled Neal from beginner to trading coach. Like others in the travel industry, Neal Bateman’s job was put on hold during the pandemic. Seeking ways to make up for the loss of income, he came across Forex trading. Through big wins and hard losses, he stayed the course, educated himself, found a trading coach, and became a full time trader. He now coaches others through their own trading journeys. Neal’s story shows how with determination and hard work anyone can become a successful trader. You can get in touch with Neal via email: neal@tradingangel.com A few useful links and a promo code from Trading Angel! Instagram: https://www.instagram.com/trading_angel?utm_source=ig_web_button_share_sheet&igsh=ZDNlZDc0MzIxNw== YouTube: https://www.youtube.com/@Trading_Angel FX Replay: https://fxreplay.com/?via=tradingangel with monthly 15% discount code: "TradingAngel" FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

Known as the “commodity currency,” the Aussie dollar has long been recognised for its strong positive correlation with gold. In this episode, we take a deep dive into the correlations of gold and a basket of currencies, and show why through understanding these relationships, you can increase your profit potential, and also hedge your trades effectively. We also cover why the price of gold has sky rocketed in recent months and what its future may hold. Read this article for more information: https://fxscouts.com/news/whats-driving-golds-meteoric-rise-and-how-long-can-it-continue/ Find a well-regulated gold broker here: https://fxscouts.com/gold-trading-brokers/ FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

A breakout occurs when a currency pair's price moves outside a defined support or resistance level with increased volume. It is a popular trading approach used by traders to take a position within a trend's early stages. This strategy is often the starting point for large price moves and increased volatility. In this episode, Alison and Chris discuss how you can identify a breakout, how to confirm that they have occurred, and how to manage your risk. Link to YouTube short on Trading Breakouts: https://youtube.com/shorts/G46GV4PYn0c?feature=share FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

The world of trading has changed dramatically over the past few decades, and with the ability to trade online, many Forex trading tools have been developed to help traders analyse the markets. Many brokers offer these tools free of charge or they are integrated into the brokers’ trading platforms. In this episode, Alison and Chris discuss four different types of trading tools: For more information, check out the following pages: https://fxscouts.com/forex-tools/ https://fxscouts.com/economic-calendar/ https://fxscouts.com/forex-education/technical-analysis-vs-fundamental-analysis/ FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

It's another special episode as Alison and Chris sit down with Tom Salmon, MD of Spreadex Trading, one of the UK's largest trading firms. In this wide-ranging conversation, Tom talks about the advantages of spread betting over CFD trading, why Spreadex linked up with TradingView, the state of the markets in 2024, and how traders can better manage their risk. Episode links: Learn more about Spreadex: https://fxscouts.com/broker/spreadex/ Listen to our episode on TradingView: https://open.spotify.com/episode/4KaeMjhGQiJwQbaOPZIVbm?si=792c9717f24f4b48 Alison's TradingView Tutorial: https://www.youtube.com/watch?v=rcUK70BoZ3g&t=35s FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

So many traders get caught out trying to predict where the market will go next. This approach is risky and often leads to losses. Trend following is a time-tested strategy that helps traders capitalise on directional market moves and increases your chances of profiting. In this episode, Alison and Chris discuss how to identify a trend and different trend trading strategies. Link to YouTube video mentioned in this episode: https://www.youtube.com/watch?v=QiS9P6ya_Pg&t=6s FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

Forex trading is a 24-hour business, but it's divided into the four main sessions. This week Alison and Chris discuss why it's a bad idea to try and trade them all and how to know where you should focus your energies. Lifestyle, sessions crossovers, assets and data releases all play a major part in this decision so tune in and find out which trading session will suit you best. FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

This week Alison and Chris preview a week full of interest rate decisions from some of the most important central banks in the world. But the focus is on the US Federal Reserve’s meeting on 20th March 2024 - there’s almost zero chance of a rate cut, but what will the Fed’s forward guidance mean for the EUR/USD and other major pairs? And will it restore some much-needed volatility to the market? Links as promised: Why are Forex trading volumes so low?: https://fxscouts.com/news/why-are-forex-trading-volumes-falling-in-2024-and-why-is-it-all-the-feds-fault/ Stay on top of central bank decisions with our economic calendar: https://fxscouts.com/economic-calendar/ Our episode on fundamental analysis: https://open.spotify.com/episode/7uEAJytIZAsJsrtat3zyxr?si=98e5b6cf893640b6 FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

A truly inspiring episode this week as Alison and Chris talk to Caroline Rundell, aka Trading Angel (links to her YouTube channel below). Caroline started her trading journey in 2015, with zero knowledge but plenty of hope and determination. Now she’s a professional trader, trading coach - and soon-to-be qualified financial adviser. In a world where the reality of trading is often obscured by social media “experts” with flashy cars and get-rich-quick schemes, Caroline’s story shows how anyone can become a successful trader with hard work and education. Trading Angel Trading Coaching: https://tradingangel.co.uk/ Trading Angel on YouTube: https://www.youtube.com/@Trading_Angel Trading Angel on Instagram: https://www.instagram.com/trading_angel_caroline Trading Angel on Tiktok: https://www.tiktok.com/@trading_angel And send me Caroline an email if you’d like to sign up for coaching Info@tradingangel.co.uk FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

This week Alison and Chris talk about market sentiment and why it can be a confusing indicator for many beginners. So, if you find yourself trading against market sentiment, don't panic! You're probably right... But listen in to find out why and how you can use sentiment analysis as part of a successful trading strategy. Links: IG Client Sentiment Report: https://www.dailyfx.com/sentiment-report COT Report:https://www.cftc.gov/MarketReports/CommitmentsofTraders/index.htm Long term trading strategy with the COT Report: https://fxscouts.com/forex-education/long-term-trading-strategy-with-the-cot-report/ DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

This week, Alison and Chris take a close look at XTB and Pepperstone, two of our highest-rated brokers, and ask which one would work best for you. Both are well-regulated with low trading costs - but once you start digging, it’s obvious that they are suited to different types of traders. Listen in and learn why we rate them so highly and which one you might want to consider if you’re thinking of switching broker. Links as promised in this episode: Pepperstone Review: https://fxscouts.com/broker/pepperstone/ XTB Review: https://fxscouts.com/broker/xtb/ Trading Angel on YouTube: https://www.youtube.com/@Trading_Angel Previous episode with Chris Weston from Pepperstone: https://open.spotify.com/episode/0K6eQp8wmidtDHhf3CQ3sh?si=6765abee5d654445 FxScouts Annual Broker Awards: https://fxscouts.com/forex-awards/ DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

This week Alison and Chris discuss mobile trading apps and whether mobile trading should be part of your trading plan. Mobile trading is everywhere these days, and there are some real benefits to trading apps. But does that mean it should be your primary trading tool? Listen in to learn about the pitfalls of trading on your phone and how to use your trading app effectively. DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

This week Alison and Chris take a closer look at TradingView. What started out as a charting application with social elements has evolved into a fully-fledged trading platform. It’s modern, easy to use and packed full of useful features - but the free version is very limited, so we also discuss whether the premium versions are worth the cost. The best brokers with TradingView integration: https://fxscouts.com/forex-brokers/tradingview/ DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

Technical indicators can seem a bit overwhelming at first, so this week Alison and Chris take a closer look at the most popular technical indicators used in short-term Forex trading and discuss how to use them effectively. Also discussed are how to know when to use the right indicator, and how to avoid the common mistakes traders make when using them. Links: How to use the 200 day Moving Average: https://youtu.be/r-zo-3sRr64 What are Moving Averages: https://youtu.be/DOtRb7CQ8ms What is the Relative Strength Index (RSI): https://youtu.be/6f2nkM_s2i4 Average True Range: Measure volatility and minimise risk: https://open.spotify.com/episode/76ojbdBS96CmjC3AvV9TpB DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

This week Alison and Chris discuss the difference between trading Forex and trading stock CFDs. While there are some superficial similarities, if you dig a little deeper you find differences in trading hours, leverage, analysis, costs and the risks involved. All this and more is discussed with recommendations for which form of trading might suit you best. DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

The Forex market is the most active financial market, trading over 7.5 trillion USD per day. Given the level of activity and volatility in this market, a well-planned trading strategy is required to make the most of these opportunities. However, building such a strategy can be challenging for beginners. The 5-3-1 forex trading technique simplifies that. It helps traders develop a clear trading plan for the forex market. Unlike other techniques that focus on trading mechanisms, chart patterns, and indicators, the 5-3-1 technique allows traders to narrow down the Forex pairs they would like to trade, the trading strategies they want to use, and choose a time of the day to trade. In this episode, Alison and Chris outline how to define which currency pairs you should choose, how to choose trading strategies that suit your risk appetite and trading style, and how to figure out which time of the day will create the best trading opportunities. Links as promised in this episode: https://youtu.be/ZLWvIA-4-O4 https://youtu.be/040sujxN7IE https://open.spotify.com/episode/4T895k6O7bV3cNVFRjTSDV?si=245bbcab0f774f1f DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

Forex trading is a high-risk venture and good risk management is the key to success, but could an over-cautious approach lead to larger losses or prevent you from progressing in your trading? In this episode, Alison and Chris discuss scenarios where traders hold back, only to realise larger losses in the long run, causing untold frustration and damaging their trading psyche. They also discuss ways to manage your trades effectively while risking enough to make them worthwhile. Links to educational YouTube videos as promised in this episode :-) https://youtu.be/ZLWvIA-4-O4 https://youtu.be/qH5HAUlqSwI DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

In most other areas, the gender gap between men and women is closing, but in the finance sector, the disparity is the largest. Recent data shows that only 16% of new Forex trading clients are women. In this episode, Chris and Alison delve into the reasons behind these surprising statistics and provide some tips for how women can successfully enter the Forex trading space. Women in Trading: https://www.youtube.com/@MindfullyTradinghttps://www.youtube.com/c/Finpact And check out our YouTube channel: youtube.com/@fxscouts and our education pages: https://fxscouts.com/forex-education/ DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

In the final episode of 2023, Alison and Chris look back at some of the year's biggest Forex trading scandals. From hedge fund bosses trying to manipulate the South African Rand, to prop trading firms fleecing their own traders - there's always someone willing to cheat in order to make more money. We'll be back in the second week of January, so wishing you call a wonderful festive period. To avoid being scammed or to learn what to do if you think you have been scammed, please read mroe here: https://fxscouts.com/report-a-scam-broker/ DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.