PipStop

This is a much deserved form of self-promotion. Steve Croft, Trading Post's VP of Sales has been doing a terrific job with his Mind of a Trader podcasts. The subscription number just passed 600, and if you listen, you'll know why.

This session is the latest, entitled "Aim Small, Miss Small." Great job Steve, I look forward to these every week, and an increasing number of traders are expressing the same. If you haven't subscribed yet, you're missing out.

Mind of a Trader - Aim Small, Miss Small

I've followed Rich at ForexProject.com who has done an unbelievable job of putting his blog together with some interesting and helpful tools. He's traded for 2.5 years and is one of the very few who has admitted that he isn't successful enough in his trading to do it full-time yet.

Then today I see his most recent post of looking sideways at the stock market. Not to rag on Rich, but it has seemed to me that most Forex traders who are not successful don't have the requisite focus on their Forex trading. 
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Babypips offers a buy on the USD/JPY, DailyFX.com's Jamie Saettele offers perspective that the GBPUSD will explode higher, which sentiment Tony Juste also agrees with.

And just out of curiosity ITME is one who keeps a very interesting trading journal in the forum over at FXstreet, which just might be the most viewed area of that particular forum right now. Let's follow along with a trade set-up just posted ...

Thursday January 17 at 2:00 ET
Buy GBPCHF at 2.1582
Target is 2.1650
Stop is 2.1548
Reward / Risk Ratio is 61 / 41 = 1.488