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.

Is credit crisis over? Not so fast

Gold falls as safe haven traders exit

Classic chart pattern my way

How many of you guys traded classic chart pattern, yes every trader traded classic chart pattern, .but how many of us are consistently making money trading classic pattern, not many. So what’s the problem? Classic chart patterns are breakout trading, not all the breakouts are successful; some fake out .yes this is the problem trading classic pattern. How to know which will end up a false breakout, I don’t think there is any crystal ball to see the fate of a breakout. But I suggest few points that might help you guys to increase the probability of a breakout.

1).There must be momentum in the price action
2).Volume must be high in the breakout
3).Follow the big trend
4).Avoid choppy market

I also trade breakout but I don’t follow the text book method, I believe that you have to be a step ahead of other traders to be able to make money in trading. That’s why I always look for a better entry point before other traders will enter that trade. This method helps me to minimize my risk and maximise my profit.

course

Why the Buck Has Pluck

My to do lists (daily/weekly)

My to do lists (daily/weekly)

For Example:

1.Go through Watch list charts,.

2.Read latest news and blogs.

3.Go through bank statements every friday.

4.Think on paper when possible-it makes it easier to review and revise.

5.Put up reminders in my home or office about my goals for next week.

6.Look ahead in month and try to anticipate what is going to happen, so i can better schedule my time.

7.Try to use waiting time­­-review notes or do solve problems.

8.I will put effort in areas that provide long term benefits.

9Exercise and try to eat healthy food .