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Tag Archives: price

The Secret To Successful Forex Trading

What does the market do everyday?

If you think about it logically the market can do 3 things every day. It can go up, it can go down, it can go sideways, but it always does something. The market does not stay at the same price for 24 hours, its always moving, it never stays still, and if its moving, its moving for a reason, and if you understand why its moving, then there are opportunities to make money from those moves.

what does the market do every dayMost traders fail to understand why the market moves as it does.

They think price goes up because people are buying, they think price goes down because people are selling, and they think the market goes sideways because people are not buying or selling.

That can sometimes be the case, but its not always the case. Most traders react to what they see on the chart, if they see prices going up they buy. If they see prices going down they sell.

So why is it that 95% of traders lose money, if they are doing what the chart is telling them to do?

Why traders lose money in the market.

The reason most traders lose is because they buy when they should be selling, and they sell when they should be buying. The reason they lose is because they buy when prices go up, but because they don’t know why the price is going up, they don’t know how long to hold the trade for, when prices then reverse they get stopped out. The same applies if price is going down.

why do traders lose moneyHow much money would you be able to make if you knew why price was going up or down, and you knew how long you could hold your trade for to make maximum profit. Not because of buying or selling, but because of some other factor that’s making price move.

So you have had no success with buying or selling into a move, so you try to catch the bottom or the top of a move. Prices start going up, so you sell. Prices start going down so you buy. Prices keep going so you add to your losing trade, and prices still keep going. When you have been stopped out prices then reverse.

Why did you lose your money? For the same reason that you lost it before. Because you were buying when you should be have been selling, and you were selling when you should have been buying. Whether you are trend trading, or counter trend trading you need to know why prices are moving, and whether you should be buying or selling.

Its not just as simple as buyers or sellers. Prices move for many reasons, and you need to know that reason before you enter a trade, so you are on the right side of the move.

Understanding the Forex market.

understanding the forex marketI get a lot of calls from traders that think i have some sort of magic formula for trading the markets. A holy grail, or a guaranteed method for Forex trading success. Well guys i have to confess that i don’t have such a thing, as such a thing does not exist. No one knows with a 100% confidence what will happen next in the Forex market. But if you fully understand what is making prices move, and take high probability trades based on that understanding, then you can be a successful trader.

I am not the master of the market, or a Forex trading guru, and i cannot promise you untold riches by enrolling on my training and mentoring program, but what i can promise you is that i will teach you what you need to know in order for you to be successful, and if you devote the time required to learn what i teach, then you will be a consistently profitable trader.

Embrace new ideas and beliefs.

How i trade, and what i teach is very unlike what you may have come across before, and it can take some traders longer than others to fully embrace what i teach, and adapt their trading strategies accordingly. It can be a struggle for some traders to get in the mindset of how a professional Forex trader thinks, and how he trades.

the truth about ForexIf you have been trading for a number of years and losing money all that time, it can be hard to let go of your learned behavior, and look at the market in a different way. Some traders however, will see my stuff as a light bulb moment in their trading journey, and my teachings will literally transform their trading overnight.

So to any prospective students reading this, if you are considering coming on board with me, please have an open mind, and be prepared to embrace new ideas and thought processes about how the market works. What i have to say will turn your understanding of the market on its head, so be prepared for some shocking revelations.

Use your understanding to trade with confidence.

I trade Forex with confidence and an unrivaled understanding of the forces that drive the market. My entries and exits in the market are based on high probability reversal points.

trade with confidenceSome of my entries and exits are so precise, that it does sometimes seem like the market is dancing to my tune, which has prompted some of my students to ask me if i have a contact on the inside, someone feeding me information on where to enter and exit the market. 🙂

It does sometimes look that way, but i can assure you i do not have a contact on the inside, and there is no slight of hand involved.

Everything i trade and teach is based in what the chart is telling me to do. I am not going to go into detail about how i trade, and how i teach, but its all based on market knowledge. All the information you need to do what i do is contained within the chart.

Don’t waste time and effort with free education.

free forex educationThere are many Forex training companies, or individuals that will give away free information, or make videos of how you should trade the market. There are 1000’s of free videos on You Tube that you can spend years trawling through. I respect those people for taking the time to put together training videos to help people learn how to trade Forex. But the sad fact is they are a waste of your time and effort.

You have heard of the saying you don’t get something for nothing, well its true 99% of the time. You can spend a few years going through all this stuff on You Tube, and don’t get me wrong, its entertaining stuff, and you will learn a lot of the basics, but as far as making money goes, there will be very little in there that will help you in that regard.

The secret to successful Forex trading.

I am going to give you something now that will help you in your journey to becoming a profitable trader. This is a very important part of what i do, and in my opinion is the real secret to successful Forex trading.

the secret to forex trading successMost people think the Forex market is random, but its not. I have been in this business long enough to know that no matter how random it looks, its not random. The market is very structured. The same things happen, time and time again in the market, and when you understand the market as i do, you can easily pick up on these recurring events, and use them to make a profit from the market.

This is what i teach you in my training course. I teach you to recognise the recurring events in the market, and how to profit from them. And i am not talking about chart patterns, like head and shoulders. Although head and shoulders are a very good pattern, if you know how to trade them correctly.

I am not talking about buying and selling at trend lines, or support and resistance levels. I am not talking about Elliot Wave, or Harmonics, or Moving Averages, or MACD or Bollinger Bands or any other indicator that you can find to give you trade signals. What i am talking about here are the guaranteed moves in the market that happen every day.

Use what you know about the market to make money.

what-do-you-knowThis may seem like a strange statement, but try and think about what i have just said.

Use what you know about the market to make money. Think about what you know about the market, and what makes price move. What do you really know, with the highest probability? Work out what you are most confident about, and trade based on that.

If you are unsure about how price is going to move then don’t trade. You need to focus on probability to be successful. Be proactive in your trading not reactive. Analise the market for probability, and trade when the probability of a successful trade is most in your favor.

Thanks for visiting my site, and have a great day. 🙂

Ozzy Dollar Hits My Target. Cable Weakens. Euro Moves Higher.

Ozzy Dollar hit my price target yesterday so i took it long. Well it actually hit 10226 and my target was 10225 so i was out by 1 pip. 🙂

If you have been reading my posts over the last few updates you will see that I had been targeting this area as a possible long trade for a few weeks now, and it finally hit on Tuesday. I actually entered the trade a little early at 10227 just to be safe, as i knew this was a strong demand area and it may not hit my 25, and that turned out to be the case. The price quickly moved away from that area so i knew it was a good trade, so i let it run rather that taking a logical exit.

Ozzy had been moving down towards that area for a while now, so a big move up was on the cards. As i had waited for the trade for a while i let it run overnight to get the full benefit of the move. I don’t mind holding Ozzy longs overnight as i get paid a good chunk on the rollover. I would not hold a short position overnight though unless it was unavoidable.

I closed the trade earlier today as the move seemed to have stalled a little, but i managed to get out at 10354 for 127 pips. I don’t mind waiting for a week or so for a move like that. I think it could have a bit more left in it, but i am very happy with my pips.

Cable has been moving down since Monday, and was punished further today by Mervyn King who gave a Draghi like press conference on the state of the UK economy. I have a price target on Cable of 15270 so its got a bit further to go yet. I think we will see a bit of a rally first though, before a move down to that level.

Euro has been recovering some of its losses since the Mario Draghi press conference, and peaked today at 13518. I took it short at 13506 so i missed the top by 12 pips, which is a pretty big miss by my standards. The move down was helped by some Euro negative news by the ECB saying Euro strength will hurt the recovery of the smaller countries in Europe. I took it down to 13468 for 38 pips. I re entered the same trade at 13485 down to 13440 for another 45 pips.

Euro Yen has been up and down this week trading in a nice range. We have had a couple of nice trades on that this week. First trade was on Tuesday at 12680 down to 12560 for 120 pips. We took it short again today at 12620 down to 12570 for 50 pips. The good thing about EJ at the moment is it does yield a lot of pips when you manage to trade it. You need to have a larger stop though on that one at the moment, as its very volatile, so you can get stopped out if you are too tight.

I will give a full update on the weeks trading activities at the end of the week. If you are trading this week have a good one. 🙂

Don’t forget, if you want to learn how to trade Forex the right way, please consider my Forex training course here. It will be the best investment in the Forex business you will ever make, i can guarantee that. My training is not cheap, but you get what you pay for and its worth every penny. What i can teach you will totally transform your trading and change your life. I will teach you something that 95% of all other courses do not teach you and that is how to make money from Forex trading.

Understanding Forex Trading – Learn Price Action

Forex trading is a big mystery to a lot of people, even Forex traders that have been trading for years struggle to understand price action, and how to profit from it.

So what do you need to know to be successful in Forex and consistently make money? The answer is very simple. You need to be able to read price action on a chart. All the information you will ever need, to enable you to be successful in Forex trading, is contained within the chart. Let me just say that again in case you missed it. All the information you will ever need, to enable you to be successful in Forex trading, is contained within the chart.

I cannot stress this enough. Forget about fundamentals, and news, and market sentiment, and what they are saying on CNBC, its all irrelevant. The only thing you need to be able to do, to be successful in Forex, is to be able to read price action on a chart. The chart will tell you where to enter, the chart will tell you where to put your stop loss, and the chart will tell you where to exit, and that is all you need to know.

Despite what a lot of traders say a Forex chart is not a random pattern generator. Forex trading has a very structured format.

Have you ever looked at one of those magic eye pictures like the one on the left. Somewhere in that picture there is a duck, some people can see it some people cant. A Forex chart is very much like that. There is a picture in there somewhere, you just have to know where to look.

Now you can spend weeks, months, years, staring at a chart, or a magic eye picture and trying to see through all the confusion, or you can take the quick route and get someone to show you how to do it. Now if you think back to the moment when you first saw the empire state building, or the statue of liberty, or whatever it was in the magic eye picture, how easy was it to look at any other magic eye picture and see the image within. A Forex chart is just the same. When you know what you are looking for, you can apply the same skill to any chart, and see what is really hiding within it.

When you are skilled at reading a chart you will be able to see the structure of it, and profit from the fact that you know what is going to happen next. Well that’s not 100% true, you cant know exactly what is going to happen next, but you can predict with the highest probability what is going to happen next, and trading Forex successfully is all about high probability trading.

This is what i do, and this is what i teach. I look for, and enter, high probability trades, and i teach my students to look for, and enter the same high probability trades. I don’t trade for fun, or because i am bored, i trade to make money, and the way i make money is by knowing what is going to happen to the price with the highest probability possible, and then by waiting for the optimum time to enter the trade. I then manage the trade, and take my profit when the chart tells me to take it. Its a pretty simple formula, but it takes chart knowledge to make it work successfully.

If you want to be a successful Forex trader, and learn my high probability Forex trading strategies, please consider my Forex training and mentoring program here.

Thursday And Friday Trading.

We have had a couple of good days trading. As i mentioned yesterday we had a nice trade on EJ that triggered in the Asian session.

We went short at 10382, and closed at 10339 for 43 pips. I don’t generally like setting trades up while i am not at the PC, as i like to manage them rather than set entries and take profits, as the market is constantly changing, and i like to take full advantage of the situation. But this trade was too good an opportunity to miss so i set a pending short order with my broker, which i then managed Thursday morning.

We also had an AUD short yesterday. Another great entry at 10404 and which we shorted down to 10368 for 36 pips profit.

Today we took another EJ short at 10349 down to 10327 for 22 pips. It was a bit of a quiet day today. I expected a bit more volatility than we had, but we managed to get another trade in on Euro, short at 10363 down to 10318 for 45 pips.

Another good week of trading for us. We took a total of 16 trades for 301 pips. Which averages out at just over 18 pips per trade.

We set ourselves a target of 100 pips profit per week, but we always exceed that. We have made some good money this week, long may it continue. 🙂