Let’s Talk Forex with Alison and Chris

How do you build a Forex trading plan that you can actually follow under pressure? In this episode, we break down a practical trading plan into five key areas: the markets you trade, your setup rules, risk management, trading hours and your review process.

We explain how to create objective entry conditions using context, location, triggers, invalidation and targets, and why your risk and position size should be defined before you place a trade. We also cover correlated exposure, daily loss limits, trading around major news events and why having a defined trading schedule can reduce unnecessary decisions.

Using a EUR/USD trend-continuation example, we show how these rules can be combined into a complete setup and why an “almost” valid setup should not become a trade simply because you don't want to miss the move.

Finally, we look at how to use a trading journal to review execution, identify rule-breaking and separate strategy performance from your own decision-making. The goal is to create a simple one-page trading plan that is clear enough to follow when the market becomes uncertain.

Watch the episode on YouTube here: https://youtu.be/jOETFCW1PFo

FxScouts Disclaimer

Forex and CFD trading involves significant risk, and you may lose money rapidly due to leverage. Make sure you understand how these products work and whether you can afford the risk of loss.

The information in Let's Talk Forex is for educational and informational purposes only and does not constitute investment, financial, legal, or tax advice. Past performance is not a reliable indicator of future results.

Support and resistance work better as zones rather than exact price levels. In this episode, we explain how to identify support and resistance zones, understand the liquidity around them, and distinguish genuine breakouts from false breakouts.

We look at why price often moves beyond obvious support or resistance before reversing, how clustered orders can create liquidity around key levels, and why a wick through a zone doesn't necessarily confirm a breakout.

We also look at how to assess candle closes, follow-through and breakout retests, use higher-timeframe context, evaluate repeated tests of a zone, and think about stop-loss placement without simply putting a stop beyond the most obvious high or low.

Watch the full episode on YouTube here: https://youtu.be/RX3QGGa83cs 

Try our Free Trading Journal here: https://bit.ly/3TRNNSN 

FxScouts Disclaimer

Forex and CFD trading involves significant risk, and you may lose money rapidly due to leverage. Make sure you understand how these products work and whether you can afford the risk of loss.

The information in Let's Talk Forex is for educational and informational purposes only and does not constitute investment, financial, legal, or tax advice. Past performance is not a reliable indicator of future results.

Forex trading psychology can have a major impact on how well you follow your trading plan. In this episode of Let’s Talk Forex, we look at four emotions that commonly influence traders: fear, greed, FOMO and revenge trading.

We explain how fear can lead to closing trades too early, why greed can change your risk and profit targets, how FOMO creates pressure to chase price, and why revenge trading can turn a loss into an emotional decision.

We also introduce the PAUSE framework, a practical five-step process for recognising emotional decisions before they become actions. We cover position sizing, loss limits, journaling, and how to distinguish a genuine change in your setup from a change in your emotional state.

Finally, we explain why good trading psychology isn't about becoming emotionless. It's about building a process that helps you make more disciplined decisions when those emotions inevitably appear.
 
Watch the full episode here: https://youtu.be/D2tlY9hTXbs 
And try our FREE Trading Journal Here: https://bit.ly/3TRNNSN 
 

FxScouts Disclaimer

Forex and CFD trading involves significant risk, and you may lose money rapidly due to leverage. Make sure you understand how these products work and whether you can afford the risk of loss.

The information in Let's Talk Forex is for educational and informational purposes only and does not constitute investment, financial, legal, or tax advice. Past performance is not a reliable indicator of future results.

Is risking 1% per trade enough to manage your Forex trading risk? In this episode, we explain why effective risk management goes far beyond choosing a percentage and placing a stop loss. We break down position sizing, stop-loss placement, risk-to-reward ratios, correlated exposure, daily loss limits and drawdowns, including how to calculate position size based on your stop distance rather than forcing your stop to fit a predetermined lot size. You’ll also see why a 2:1 risk-reward ratio doesn’t automatically make a trade worthwhile, how larger drawdowns become increasingly difficult to recover from, and why total account exposure matters when you have multiple positions open. Finally, we run through a practical pre-trade risk checklist designed to bring more structure and consistency to your trading decisions.

Watch the episode on YouTube here!

And please try out out Free Trading Journal here!

FxScouts Disclaimer

Forex and CFD trading involves significant risk, and you may lose money rapidly due to leverage. Make sure you understand how these products work and whether you can afford the risk of loss.

The information in Let's Talk Forex is for educational and informational purposes only and does not constitute investment, financial, legal, or tax advice. Past performance is not a reliable indicator of future results.

How do you read Forex market structure across different timeframes? In this episode of Let’s Talk Forex, we break down swing highs and lows, uptrends, downtrends, ranges and breakouts to show how price structure can help you understand what the market is actually doing.

We explain how to identify higher highs, higher lows, lower highs and lower lows, how to distinguish a trend from a range-bound market, and why breakout confirmation matters. We also cover multi-timeframe analysis and how higher and lower timeframes can show very different parts of the same price move.

Using a practical EUR/USD example, we walk through range breakouts, retests and invalidation, before covering some of the most common market structure mistakes traders make. You’ll also get a simple five-step process for analysing a chart more consistently.

Watch the episode on YouTube here!

And please try out out Free Trading Journal here!

FxScouts Disclaimer

Forex and CFD trading involves significant risk, and you may lose money rapidly due to leverage. Make sure you understand how these products work and whether you can afford the risk of loss.

The information in Let's Talk Forex is for educational and informational purposes only and does not constitute investment, financial, legal, or tax advice. Past performance is not a reliable indicator of future results.