Good morning traders! Key fundamental news can create a lot of volatility in some markets. Increased volatility also provides an opportunity to traders to take advantage of fast movements and make some money. To my retail trader friends I would like to suggest that they should exercise great care if they want to trade the […]
Month: April 2013
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A common mistake new traders should avoid
One common mistake most new traders and even some experienced traders make is to add to a losing position! In early years of my trading, I heard about this in a number of seminars and training sessions I attended, and read about it in a number of books and material available on the internet. Yet […]
Hello Traders. We have had our fill on the trade idea presented earlier this morning. Price just moved 20 pips in profit and I have moved the stop to break even. We cannot lose on this trade now. For profit taking I will still hold the trade for original targets i.e. 1.5270 for first target and 1.5335 […]
Good morning traders! Here is my preferred trade setup for today: Buy GBP-USD at 1.5229; stop loss at 1.5212 (i.e. 17 pips); Target 1 at 1.5270 (41 pips) and Target 2 at 1.5335 (106 pips) As always I would like to see clean arrival into the level. If the price action hesitates just before getting […]
Good morning traders! Here is my preferred trade setup for today: Sell AUD-USD at 1.0410; Stop loss 1.0425; targets at 1.0368, 1.0337, and 1.0312. I suggest moving stop to B/E if the trade moves in favour by 20 pips. As always I would like to see clean arrival into the level. If the price action hesitates […]
Have you had this feeling at times about an asset class you think you know very well, ‘Oh this has rallied too much, can’t go any further so let me short it’ or conversely, ‘ Oh this thing has fallen too much and there is value in buying so let me go long.’ I bet […]
Good morning traders! Just a quick update on the trade idea I presented over the weekend. As you can see our trade got triggered during the Asian session overnight. And we are now in profit. The original recommendation was: Buy at 97.77; Stop loss 97.47 (30 pips risk); Target: 98.64 (Well over 1:3 Risk to […]
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Trade Idea – 14 April 2013
Good morning traders! Today I am looking at UDS-JPY forex pair for potential opportunities that could materialise when the markets open with Asian session on Monday morning. On the chart below I have marked two levels for a potential buy trade. The closest to current price is: Buy at 97.77; Stop loss 97.47 (30 pips […]
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Trading and Gambling
Gambling draws a negative emotion and is considered an indulgence in most cultures. At best it is seen as a recreational activity. In gambling most of the time the odds are known and are decided by the market maker (or the house as often referred to). Statistically over a long period (i.e. extended run of […]