I just entered a half long position,since the pair found support in this area.Friday, December 19, 2008
Thursday, December 18, 2008
Wednesday, December 17, 2008
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.Tuesday, December 16, 2008
I am Back
How are you guys,i was very busy trading and writing my book.I will start posting my trades from tomorrow.
Monday, November 10, 2008
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.
Friday, November 7, 2008
Thursday, November 6, 2008
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?
Wednesday, November 5, 2008
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.
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?
Tuesday, November 4, 2008
CAD/USD short
After my entry, the pair dropped nicely and already reached my 1st target ,not a bad day so far.
Monday, November 3, 2008
Sunday, November 2, 2008
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.
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.
Friday, October 31, 2008
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.Thursday, October 30, 2008
Update
I am not in any trade at the moment,these charts only show my prediction for next turn of the market.
Tuesday, October 28, 2008
Monday, October 27, 2008
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