Learn to Trade Forex With The Banks
Forex Bank Trading Course
What Our Members Say
Excellent information! I was starting my forex project 5 years ago. Now I have zeroed account( , but lot of experience. I had writted a couple of hundreds EA ad indicators with the same result….. You know what happened with the backtests. None of them is working ! Tested all of the famous strategies thought by brokers……….. The only site which is telling the truth is yours!!!!!! Thanks a lot that is what I was looking for.
High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL, OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE DISCUSSED WITHIN THIS SITE, SUPPORT AND TEXTS. OUR COURSE(S), PRODUCTS AND SERVICES SHOULD BE USED AS LEARNING AIDS ONLY AND SHOULD NOT BE USED TO INVEST REAL MONEY. IF YOU DECIDE TO INVEST REAL MONEY, ALL TRADING DECISIONS SHOULD BE YOUR OWN.
Forex Daily Commentary EUR/USD, GBP/USD July 9, 2012
The EUR/USD did the extension of the pushes Friday and squeezed out a forth push to the downside rather than attempt the reversal showing just how weak the Euro is at the moment. However today I will still be cautiously looking for the reversal. I definitely wont be holding for a longer push but the Smart Money needs to take some profit and we can usually get a good 50 or so pip run as they do. We are also sitting at a monthly low from the 1st of June that should find some support and at least be a good place to catch a low risk long position. If this does break the next level that has potential to at least slow it down is the 1.2150 level from June 2010. I do think this will eventually break but the chance for a pullback on this first test is worthy of a trade if the manipulation occurs at Fridays lows from last week. Otherwise if we do see the push to the upside during the opening hours of the London session with some clear confluence and manipulation I will be more than happy to short. The fact is all fundamentals point for a weak Euro.
I did manage to catch the 3rd push down on the GBP/USD Friday just before NFP. It was a slightly more risky trade considering the news but was worth the risk as it did give me the price I wanted and my 20 pip stop was well above the previous highs. The trade only went 6 pips against me during the release and never broke the highs. As I was listening to the release and in our live chat room I told the members there that even though it was worse than expected it wasnt bad enough to warrant more QE from the Fed and we should see the move down. It didnt take long until it was off to the races so I moved the stop to break even, set the TP and went to bed.
The GBP/USD is at its potential reversal point also and seemingly holding its bottoming formation for now. I do think this pair has slightly more potential as the weakness of the EUR/GBP may provide the up thrust during the London session today. Its hard to say mainly because there is the stigma of the EUR/GBP being below 80.00 having detrimental effects on the UK economy. However that may get thrown out the window as the potential for the Euro meltdown gets closer. I do see some interesting candle patterns forming on the 15min chart during the Asian session that leaves me a little concerned but still believe if the reversal is to come this pair has a slightly higher probability.
Forex News Today
Scheduled releases are light today with the only medium impact news from the EZ being Sentix Investor Confidence that is expected to slightly improve but is still in major negative territory so I dont expect much more than a potential for manipulation here. It will have to surprise significantly to the upside for any decent movement.
Later in the day we do have a bunch of rhetoric from ECB President Draghi, MPC Member Tucker and from the Fed we have FOMC Member Williams. I wont be around but if you are in a trade during these speeches I advise you pay close attention as the potential for a surprise from Draghi is high and the others less so but still there.
Are We Closer To Bringing Out The Guillotine?
You have to love it when the well known guys in this arena agree with what you say is needed to fix the problems we face with the greedy bankers more or less ruling the world as we know it and seemingly just getting more powerful as the man on the street suffers. Well it would seem to me they are running out of time and when we see people like Nouriel Roubini agree with little guys like me then things are getting ready to pop. Here is a great interview he did on Bloomberg that tells it pretty well. I have my doubts they will bring back the Guillotine for me but I will surely settle for some hangings in the town square. Of course we are still a ways off from this but I do believe its coming especially if the government dont step in a break these big guys up in a lower impact manner before the implosion occurs. Enjoy
Sorry the embed feature would work but here is the Bloomberg link. http://bloom.bg/MJL0SC
Happy Trading
Chad
If you would like more information on how to trade with the banks please view our forex bank trading course & forex forum description.
Do You Enjoy The Daily Forex Commentary? Please Click The Like Buttons Below & Tweet It !!
Comments