Today were just going to do a quick review of today’s trades from the forex room. The first trade of the day was a confirmation entry long on the GBP/USD. This trade went it our favor around 15 pips, however there was quite a large retracement which came near to our break even and we [...]
Forex News Trade – US Consumer Sentiment USD/JPY 17/06/2011
June 19, 2011 by · Leave a Comment
This week was one of the slowest weeks I can remember in the trading room for a very long time. It is extremely difficult to take a trade when the market has already moved coming into the session your going to trade. Unfortunately this is exactly what we saw Wednesday through the end of the [...]
Forex Swing Trading Setup EUR/JPY 14/06/2011
June 16, 2011 by · Leave a Comment
Hey everyone, sorry it’s been a few days since I have been able to update the recent trades section. Monday we had two trades. One was a break even short trade on the USD/CHF, and the other was a long trade on the GBP/USD that was closed for -10 when it looked like there wasn’t [...]
Intra-Trend Day Trading Confirmation Entry EUR/USD 10/06/2011
June 10, 2011 by · Leave a Comment
After yesterday’s day trade during the ECB Press Conference it was important for me and the rest of the forex trading room to have a good day going into the weekend. It’s never good mentally when you do not recover a loss going into the weekend. This is exactly what we did! If someone is [...]
ECB Press Conference EUR/USD 09/06/2011
June 10, 2011 by · 2 Comments
Thursday we had the ECB interest rate decision, and then the ECB Press Conference that follows at 8:30. As expected interest rates were left unchanged Thursday for the Euro zone, but then the press conference with Trichet that followed brought some interesting price action to say the least. Trichet is great at following ever negative [...]
Day Trade Entry On EUR/USD 08/06/2011
June 9, 2011 by · Leave a Comment
Here is yesterday’s trades. Throughout yesterday we had 2 setups in the forex trading room. The first trade never had any follow through and therefore we took an exit for -10 pips when it looked like it wasn’t going to move in our direction. The second trade of the day was a bit more clear [...]
Forex Trading Strategy – Confirmation Entry USD/CHF 07/06/2011
June 8, 2011 by · Leave a Comment
Hey guys and gals….hope every one’s trading day went alright. Very strange day for us in the forex trading room this today. Half of the 6 pairs we watch were stuck in tight ranges of 25 pips or less and the USD/CHF broke correlation to the USD for most of the session. As a general [...]
New York Session Trend Continuation Day Trade GBP/USD 06/06/2011
June 6, 2011 by · Leave a Comment
We only took one trade in the forex room this morning, and it was a GBP/USD short. Unfortunately the price sputtered around for to long and we took a break even exit, only to later see it fall. Sometimes that’s the way it goes in day trading. Either way lets walk through this forex day [...]
Day Trading Forex Confirmation Entry USD/JPY 03/06/2011
June 4, 2011 by · Leave a Comment
In the last post that covers Wednesday I talked about when the market comes into resistance or support. This chart shows very clearly what I mean by touching the body of the candle at resistance or support….in this case resistance. Notice how the market never touches the exact overall high but rather it touches the [...]
Confirmation Entry Day Trade Short On The GBP/USD 01/06/2011
June 4, 2011 by · Leave a Comment
Wednesday was the start of the new month! Finally we saw some decent price action during the NY session which was a nice change from the last few weeks. Over the last few weeks NY has been nothing but choppy, tight ranges during our 3 hour trading training sessions. Wednesday was going quite slow until [...]
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