The world in figures

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Forex trading

Some trades from last two weeks

All the trades were based on fib retracement levels and just following the trading plan. In EUR/GBP and EUR/USD i took half of my position out after 100 pips gain and re-entered 1 lot each .In USD/CHF i re-entered two lots at the two breakout level and exited all my position at 00% fib level

Update

I require my students(who bought my books) to write down the specific market pre-requisites that must take place in order for them to make a trade.Some times before the trade happen.Don't care about the methodology but make sure that they have a set of rules, market setups or price action that must appear in order for them to take the trade.Wait for the set up to form ,don't just jump in the the trade.

Where'd the bailout money go? Shhhh, it's a secret

Update

Not much happening ,market is almost flat before long holidays.

Update

I just entered a half long position,since the pair found support in this area.

Two trades

Some high yield trades from last month

I was wating for this set up to form and result was great.

The pair was consolidating for couple of days and formed a symmetrical triangle.Since the pair was in down trend so my intention was a short entry.

This was inside bar set up,when the EUR was testing the support and broke the support.

I am Back

How are you guys,i was very busy trading and writing my book.I will start posting my trades from tomorrow.

Putting the blog on hold for few weeks

I am putting the blog on hold for few weeks,i will still be trading on a regular basis since i am extending some parts of my course, i will not have enough time to blog.See you very soon ,thank you for the support.Take care.

Update

I don't have any open position at the moment, watching the market closely.

Verbatim: Bank of England Statement On Bank Rate

BoE, ECB cut rates

Trading update

Just watching cautiously, since bank of England cut the interest rate by 1.5% which is the biggest ever intereste rate cut in the british history.

Trading questions

1.Why would you select this stock for your day trading?

2.What would you be looking to get short or long?

3.Where would you put the stop loss and why?

4.Where would you partial and why?

5.Where would you exit?

6.What would be your position size and why?

1.Why would you select this stock for your day trading?

2.What would you be looking to get short or long?

3.Where would you put the stop loss and why?

4.Where would you partial and why?

5.Where would you exit?

6.What would be your position size and why?

USD/CAD second entry

Another bear flag has formed,traders who missed the first entry, now will get an opportuny to short this pair.

Answers to the Questions

1. I select this stock because it is very active as you can see very high volume in the first three bars compare to the previous days first three candles volume.
2. I would be looking for long as the stock is showing strength.
3. Initial stop would be below the first swing low.
4. First Partial at 161.8% extension.
5. I would exit my position at the end of the day.
6. See my position size calculation post.

USD/CAD update

The pair reached my second target ,since it showing continuous weakness i am holding rest of the position.

Trading questions

1.Why would you select this stock for your day trading?
2.What would you be looking to get short or long?
3.Where would you put the stop loss and why?
4.Where would you partial and why?
5.Where would you exit?
6.What would be your position size and why?

CAD/USD short

After my entry, the pair dropped nicely and already reached my 1st target ,not a bad day so far.

Global investors buy stocks, spurred by lower rates

No trades today

No trading so far,lets see whats bring tomorrow.

13 Financial Frights

Trading success

Pin bar set up is one of the most high probability set ups I use, last three months I have traded 11 pin bar set ups 9 of them was successful trade,one stopped out for small lose and the other one breakeven trade. One thing I have to say here before you guys ask me any question about pin bar set up that any of my trades are not solely based on set ups formation that I put on my blog. A set up is just a part of a winning trade; there are so many things you have to know and aware of, any one with moderate experience will agree with me.

What you need to know:
a) What is the direction of the trend(I don't suggest any one to trade counter trend )
b) Any big news (economic indicators) is releasing that day.
c) Momentum of the market
d) Sentiment of the market.
e) Length of a prevailing trend.
f) Accumulation and distribution.
g) Key volume on spot.
h) Length of impulse and corrective move.
i) Volatility
j) Supply and demand (support and resistance area)
k) Position size
l) stop placement
m) Target placement

What you need to have:

a) Adequate capital
b) Business skill/management skill(It will take at least one year to grow this skill, people who offer magic solution in their trading course are actually full of shit).
c) Ability to take risk and control emotions.
d) Ability to look for detail .
e) Logical approach to any trade .
f) Discipline is the must to winning trades.
g) Experience, yes reading experience traders articles, books will help you to cut down yours learning period but there is no substitute to real experience.

Two trades

Two trades so far ,I am holding half of my position in EUR/USD .Since GBP/JPY is showing some choppy move ,i closed half of the open position at the first target.

No trades today

No trading today.

Understanding the Big Picture Behind the Financial Meltdown of 2008

Update

I am not in any trade at the moment,these charts only show my prediction for next turn of the market.

No trades today either

I didn't find any nice trades today. Hope you guys are doing good.

No trades today

No trading today.

Trading Rules

1.Keep records of your trading results.

2. Keep detail record of you entry, exit and stop and write it on the chart .some trader even video their trading to see what mistake they made during trading session.

3.Keep a positive attitude, what ever happened in the last trade or yesterday is past; you can not change it so concentrate on the new trade.

4. Don't take the your trading where ever you go, keep to your self.

5. Successful traders are not afraid to buy new high and sell new low.

6.Successful traders study the markets every day

7.Successful traders isolate themselves from others peoples opinions.

8. Success comes for patience, determination, and rational action

Weekly update

Bird In The Snow

Interseting story!

No trades today

Hi guys no trades today,have a good weekend.

Trading questions

1.Why would you select this stock for your day trading?
2.What would you be looking to get short or long?
3.Where would you put the stop loss and why?
4.Where would you partial and why?
5.Where would you exit?
6.What would be your position size and why?

1.Why would you select this stock for your day trading?

2.What would you be looking to get short or long?

3.Where would you put the stop loss and why?

4.Where would you partial and why?

5.Where would you exit?

6.What would be your position size and why?

USD/CAD

Playing safe some times create doubt, but I have to stick to my system even though ,not so good set up might bring huge success. I always try to avoid long wicks both in equity and forex trading; it’s like a thorn in the rose.

Update

Closed all positions,market is moving side ways so i didn't see any reason to hold any position.

Carry trade derivatives turn toxic for Japan markets

Update 2000+ pips

Very good for me today,more the 2000 pips profit in GBP/JPY,1000+ PIPS in GBP/USD.Still holding half of the positions.Open a stort position in AUD/USD.

GBP/USD entry 174.56,stop 175.68 partial at 1.7168 and 1.6605.

GBP/JPY entry 174.54,stop 175.71 partial at 170.90and 165.91.

Update-two trade

Busy day already in two trades,lets see they reach my target or not.