Here are some notes from today's webinar, 3 Classic Steps to Forex Trading:

-Raghee trades the majors
-If USD is strong, CHF is strong and EUR is weak; EUR pratically moves tick for tick opposite of USD; CHF moves tick for tick with USD

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Momentum vs. Swing : momentum trades are performed in a sideways market or 3 o'clock on wave; also look for triangles and rectangles; this consolidation happens while traders are waiting on the market to make a choice; with momentum trades, you wait for breakout or breakdown of support levels

With momentum trades, here are her 4 steps:

1.    wait for a wave break
2.    wait for a trend break
3.    wait for MACD confirmation
4.    not totally necessary but another confirmation is to use USD index 

When trading, Raghee compares same time frames; she does not use multiple time frame confirmation; each chart is treated as a separate market

-30 and 60 minute charts are better for smaller traders looking for less risk but will also get less reward
-longer timeframes offer larger risk and larger reward 

Calculate risk/reward by taking the entry price and comparing it to the stop/loss and to the profit target.  Determine ratio of 1:1, 1 1/2:2, 2:1, etc 

Swing trade when "The Wave" is at 12-2 or 4-6 o'clock;  When swing trading, Raghee focuses on the WAVE only!
Out of 10 setups, only 2 might be swing trades  

With swing trades, wait for pullback to first wave line, set the stop/loss 3-5 pips over or under the line furthest away; set profit targets using fibonacci

Entry is totally different for Momemtum and swing trades, but exit is same.  Use psychological and fibonacci levels for exit

Raghee trades usually from 7 a.m. EST until lunch and likes her sleep :)