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Tag Archives: market

Weekend Trading Update. Great Week Of Training This Week.

GreGreat Week Of Training This WeekMorning all. This week has been a very busy week for me training wise, and i have not had that much time to focus on trading myself. I have taken a few trades, but not as many as i normally would. I did have a loser this week for -37 pips, but i still came out of the week with my 100 pips target intact. 🙂

Although i have not made that much money this week i am very happy with what i have accomplished. My new students are doing very well and are starting to see, and trade the high probability set ups that i am teaching them.

If you are a regular follower of my blog you will know that i have not been teaching for that long, but teaching is going to be a major part of what i do, and i get so much more out of that side of the business than i get out of trading. Trading is great, and i love it, but its a really good feeling when you are teaching traders how to trade profitably. Traders that have been trading Forex for a number of years and losing money, that are now understanding how the market works, and how to profit from it, and they are realizing that they no longer have to give their money to their brokers, and their days of losing money in the market will soon be over. Traders that have always dreamed of becoming profitable are now closer to their dreams and its all because of your training. It don’t get much better than that i can tell you. Can i just say thanks to the guys who have been giving me some great feedback this week, i really appreciate it, and i am looking forward to next week. 🙂

OK here are the trades i took this week.

Monday i had a great set up on Euro Dollar, but i had lost my news feed so i did not take the trade. I don’t trade the news but i like to listen to it to give me an idea of whats going on in the market. After that trade i did not get any other set ups. I think it was bank holiday in Europe so it was pretty quiet.

Tuesday, was not a great day. I entered Cable long at a key reversal level but price took another 4 hours before it reversed. It was one of those slow grinding moves lower that do not give you any opportunity to get out of the trade. Normally you will get some sort of pullback to enable you to get out, but on this move it just kept going. I decided to call the trade in at -37 pips. It went down another 10 pips before it reversed very aggressively, as i expected it to do when i got into the trade. It was an unusual move, and i should have waited for a better entry signal, but when you are trading off reversal levels you have to make the call to either enter at the bottom or wait for the reversal to start. I decided to enter at the bottom, but it was not the bottom unfortunately. 🙁

Wednesday i took Euro long for +30. I also took Dollar Cad short for +20.

Thursday i took one trade late on, on EJ long for 38 pips. I love trading EJ as you can get your pips really quickly.

Friday i took 2 trades very late in the day. I had a few hours off on Friday, and took my wife out for lunch. I was waiting for some key reversal levels to set up, and they came into play at after the UK session had closed. I don’t normally take trades at that time on a Friday, but i had been waiting for these trades since Thursday morning so i decided i was not going to miss the opportunity. I took EJ long for 39 pips and AJ long for 37 pips, which was a great bonus for the week.

Total trades for the week 6. 5 winners 1 loser. 127 pips profit.

I currently have one spot left for one to one training. When that has been taken its going to be 2 months before i can take on any more students. If you wish to take the spot please ring me on 07939 42 7000.

Weekend Trading Update. Its Been A Quiet Week Trading This Week.

Its Been A Quiet Week Trading This WeekThis week has not been a great week of trading for me. Its the first week back from my holiday and the trading opportunities have been few and far between. I have also been busy with teaching this week so i generally take less trades when i am teaching as i do not trade and teach at the same time.

I also like to take it easy on the first week back from holiday, as i have missed 2 weeks of news. Now although i don’t trade the news, the news helps me get a feel for how the pairs are going to react, and what news is expected by the market, and how it can affect the price.

Monday was a bank holiday, so trading volumes were low and i did not get any high probability set ups, so i did not take a trade on Monday.

Tuesday was OK, i took 2 trades for a total of 48 pips. I took Euro short at 13126 down to 13101 for 25 pips. I also took EJ short at 13034 down to 13011 for 23 pips.

Wednesday was a little better. 2 trades again for 54 pips. I took Euro short at 13127 down to 13107 for 20 pips. I also took Cable short at 15586 down to 15552 for 34 pips.

Thursday i took 3 trades for 63 pips. I took EJ long at 12981 up to 12997 for 16 pips. I also took Dollar Cad long at 10016 up to 10037 for 21 pips. I also took Cable short at 15580 to 15554 for 26 pips.

Friday
i took 2 trades for 39 pips. I took Euro Dollar short at 13010 down to 13001 for 9 pips. I also took a nice trade on AUD long at 9980 up to 10010 for 30 pips.

Total trades for the week 9. Total pips 204.

Great Day Trading Today. 4 Trades 139 Pips Profit.

I had a feeling we would have a good day trading today. The markets were nice and volatile so plenty of pips to be had.

We took an entry on Cable late last nite at 10636, with a profit target at 16058. The profit target got hit early this morning and gave us 22 pips to start the day. Its a shame we did not set a stop and reverse trade at 58, as 60 turned out to be the high of the day, and it was a nice steady move down for most of the morning, so we could have banked some nice pips on that move, but we take what the market gives us, and move on to the next trade.

I don’t hunt for big moves, that is not how i trade, if i do catch a big move then that is great, but my strategy is to take short term high probability trades based on price action.

Some of my students like to hold their trades for longer, and take advantage of a big move, but that’s their trading style. I can tell you with the highest probability where the market will stop and reverse, its up to you how long you want to hold your trade for. 🙂

Our next trade was an EJ long trade at 10622 up to 10658 for 36 pips.
We followed that with a Euro long at 12879 up to 12930 for 51 pips. Nice trade. 🙂
Our last trade of the day was Cable long at 15006 up to 16036 for 30 pips.

The EJ trade was over pretty quickly, but Euro and Cable tested my patience a bit, particularly Cable that just sat at just above 160 for 2 hours before it moved off. Came good in the end though.

OK, update for the week.

Total trades taken 17. 16 winners, 1 loser. Total pips made 355.

If you want to learn price action Forex trading please consider my Forex training course here.

Trading Update – The markets are not being very kind at the moment.

The markets are not being very kind at the moment, but we are still holding our own.

Yesterday we took 2 trades. First trade of the day was AUD short which we closed for a 5 pips loss. Yes you heard me right. I had a losing trade yesterday. I took a nice set up short on AUD which looked very promising until the Euro dollar and Cable dollar suddenly spiked to the upside. I had typically lost my news feed, which does not happen very often, so i quickly closed my trade in case there was some price sensitive news released. The AUD quickly followed the other dollar pairs to the upside by around 20 pips and then over the next couple of hours came back to what would have given me a nice 20 pip profit. 🙁

On the plus side of that spike, my pending short order on Euro got hit at 13070 which we shorted down to 13047 for 23 pips profit.

Today we had a much better day. We took 3 trades.

First trade of the day was EJ long at 10694 up to 10624 for 30 pips.
Second trade was Cable short at 16123 down to 16093 for another 30 pips.
We also took AUD short at 10477 which we closed for 5 pips. That trade did not really play out as i expected, so i closed it. AUD has been pretty strong all day due to the interest rate cut that was announced in the Asian session.

I think we will have a good day tomorrow. I am expecting some decent moves. 🙂