This month's ProAct Traders “Pay Your Mortgage Trade” idea is found in the AUDJPY pair.

I see that we have just finished a 4^th corrective wave and anticipating the 5^th wave to the up side. We already are under way after the bounce @ 83.79. The size of the range (84.93 – 89.86) is 493 pips. It may correct a little here to the R3 @ 84.50 that could add an additional 43 pips to the total.

How to trade it? You will need to wait for your set-up to show up, for London & New York traders, that will mean waiting for the bounce if a correction @ either the 84.57 or 85.90. Take your first entry and use the respective risk reward ratio to start trading this currency pair. Wait for dips to add to this position. DO NOT TRY AND CROWD THIS PAIR WITH TIGHT STOPS. Remember the “pullback is your friend” in route so use those to add to the position. The pair typically has pullbacks in the 125 pips range so every pullback could add an additional 125 pips to the trade with another position. Currently the ATR (180 Day - Average True Range) of the currency is 96 Pips per day, so this might take about 2 - 3 weeks!

Our trading methodology is based on proprietary technical indicators. We pay attention to what the big banks are doing in the markets (the Big Boys) and specifically look for opportunities that have a high opportunity and low risk. We always identify our target before entering a trade, and we focus on the risk of the trade instead of the reward. We have (and follow) rules, and we press our winning trades without exception.

Remember that we recommend that you always trade with stops. And if you don't trust yourself or think you'll get cold feet in a long trade like this, then place the trade and walk away. Better to get taken out by a stop or target than to second guess an active trade and take yourself out. Do your research before you place your own trade. Trust your research.

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.