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Tag Archives: price action

Weekend Update. 15 Trades For 321 Pips. 2 Cable Short Trades Recorded Live.

2 Cable Short Trades Recorded LiveIts been a tough week, i have really had to pull out all the stops to get my pips this week. The price action has not been great so i am down a bit on what i normally bank.

Here are the trades i took this week.

Monday was a bit of a struggle but i did manage to get 2 trades for a total of 30 pips. I took AUD short at 10121 down to 10111 for 10 pips. I also took AUD long at 10383 up to 10403 for 20 pips.

Tuesday was again a quiet day with another 2 trades for 32 pips. I took Cable short at 15322 down to 15300 for 22 pips. I also took Euro short at 13096 down to 13086 for 10 pips.

Wednesday was a better day i took 5 trades for a total of 122 pips. I took Cable short at 15333 to 15310 for 23 pips. I took Cable short again at 15340 down to 15310 for 30 pips. A few people have asked me to try and record some of my trades, but its difficult to make recordings and trade at the same time as price action changes so quickly, and you have to be focused on your trading if you want to be profitable, but I did manage to make a recording of these 2 trades, so if you want to see the recording please click here.

Other trades for Wednesday were Euro Dollar short at 13120 down to 13096 for 24 pips. I also took Cable long at 15302 up to 15322 for 20 pips. And i took Euro Dollar long at 13065 up to 13090 for 25 pips.

Thursday was another struggle but i managed to get 3 trades for 65 pips. I took AUD short at 10580 down to 10570 for 10 pips. I took it again at 10577 down to 10552 for 25 pips. I also took Euro long at 13092 up to 13122 for 30 pips.

Friday was an OK day i took 3 trades for a total of 82 pips. I took one trade on Cable short at 15380 down to 15360 for 20 pips. I also took 2 trades on AUD. One short trade at 10534 down to 10502 for 32 pips. I also took it long at 10480 up to 10510 for 30 pips.

Total trades for the week 15. Total pips 321.

If you want to learn advanced price action trading please consider my Forex trading course. You will be blown away by what i can teach you.

A Recording Of Price Action Short Trade On Cable, That I took This Morning.

Price Action Short Trade On CableI have had a few people ask me if i would record some of my trades, so here is a recording of a couple of short trades i took today on Cable. Its my first attempt at recording a trade so please allow for that. 🙂

The recording does not talk about what i teach, its just a before and after recording of the trade itself.

The recording is in 2 parts. Please click on the links to see the recordings. Thanks. 🙂

Cable Short Trade Part 1

Cable Short Trade Part 2

If you have any questions about the recording please drop me an email or give me a ring.

Weekend Forex Trading Update. Cyprus Deal Done, Lets Make Some Money.

Weekend Forex Trading Update. Cyprus Deal Done, Lets Make Some Money.Well the Cyprus deal has been done, and the savers have been taxed, so hopefully next week we can make some money.

As i expected would be the case the account holders with deposits exceeding 100,000 euros have been taxed. Why upset the many when you can upset the few. It makes more sense to do it the way it has been done.

So now its out of the way, all as we need to worry about now is the rest of Europe. The Italian elections seem to be weighing on the Euro at the moment, so once that is sorted out we could have a bit of a rally in Euro, before the next sustained move down.

This week has been one of the worst weeks for trading i have seen of late. Monday was OK, Tuesday was pretty much a write off, and Friday was the same. No trading opportunities either Tuesday or Friday. A trade on EJ that i opened on Monday hit target in the Asian session, so that was officially a trade for Tuesday, but apart from that i had nothing.

Here are the trades i took this week.

Monday i took 3 trades for a total of 97 pips. I took EJ long at 12307 up to 12327 for 20 pips. I took it long again at 12033 up to 12090 for 57 pips. I also took Euro Dollar long at 12859 up to 12879 for 20 pips.

Tuesday i closed a trade automatically in the Asian session for 33 pips. It was an EJ trade that i opened long at 12111 up to 12144. Apart from that trade i had nothing.

Wednesday i took 4 trades for a total for 160 pips. I took EJ long again at 12055 up to 12575 for 20 pips. I also took Euro short at 12845 down to 12785 for 60 pips. I also took Euro long at 12756 up to 12776 for 20 pips. I also took EJ long at 12010 up to 12070 for 60 pips.

Thursday i managed 3 trades for 103 pips. I took EJ long at 11985 up to 12038 for 53 pips. I also took Euro long at 12757 up to 12777 for 20 pips. I also took Euro short at 12844 down to 12814 for 30 pips.

Friday i did not get a trade, this was mainly down to the fact that it was good Friday, and most traders were on holiday so the price action was non existent.

Total trades for the week 12. Total pips 393.

Learning How To trade Forex Using Price Action.

Learning How To trade Forex Using Price ActionI cannot stress enough the importance of learning how to trade Forex using price action. The majority of Forex traders are using indicators to give them trading signals which i believe is the wrong way to trade Forex. Its not only me that thinks this way, the statistics speak for themselves, and 95% of Forex traders do lose money over the longer term.

I get a lot of comments from people who cannot get their head around the fact that i have so many winning trades. Its not hard to get the same results as i am getting if you trade as i do. My trading style relies on the fact that i wait until the odds are in my favor before i trade. I class myself as a high probability trader. I take 2 to 3 high probability trades per day, and more often than not i am successful. I could easily take 20 or 30 trades a day, but i would not be getting the results that i am currently getting.

To be successful in Forex trading you have to have a complete understanding of the charts. You have to be able to look at a chart and know exactly what is happening and why. Only when you have this understanding can you be consistently profitable. Please don’t kid yourself into thinking that you know what is happening on the chart when you don’t. This is a fundamental mistake that a lot of Forex traders make. They cannot admit to themselves that they do not fully understand the chart. If you are failing to make money, week in week out, its not a bad run, or bad luck, or any other excuse you can find, its because you are not completely understanding Forex trading, and you are entering your trades at the wrong time. When you can to admit to yourself that you have a problem with your trading, you can then start to do something about it. Some traders will go on for years and years losing money, but not admitting to themselves that they do not know how to trade consistently.

Learning how to trade Forex using price action is all about the chart. I am not talking about stochastics or macd or trend trading or moving average crossovers, or momentum etc etc. I am talking about price action, and spotting the moves in the market before they happen. If you understand the price action as i do, you can take advantage of these moves by getting into your trades before they happen. This is what high probability trading is all about. Entering the market at the correct time before the move. This is the only way to make money from trading Forex. Forex trading is pretty much black and white, as far as i am concerned, you either know what is happening or you don’t. There are very few grey areas in how i trade.

So if you are reading this and thinking yes you are right, i am struggling with my trading and i need help, then you are on the road to becoming a successful Forex trader. If you cannot admit that you need help, then you will continue to lose your money.

If you are ready to admit that you need help with your trading, and you wish to take the next step to becoming a profitable trader, then please feel free to contact me. I offer Forex training to traders from all over the world. You can contact me on UK 07939 427000. Or drop me an email and i will call you back if you are in the UK. Have a great trading day. 🙂