03 April 2008

GBP/USD @ 1.9827 SELL + 10 pips x 2 lots Profit

Hello dear friends,

Today was another great day in Forex market. Specially for me and for those of you who trade using my strategy.

Here is the chart for today's trade:

So, as you can see the 2 EMAs crossed twice today until price set a trend.
At 3.00 GMT in the morning price got out of the Regression Channel.
At 7.30 GMT price broke the mini-trendline.
At 8.00 GMT MACD turned down and also made the retrace that we needed to enter. W&R above -80 level so perfect Setup.
8.00 GMT: SELL 2 lots @ 1.9827
Target: 10 pips until 1.9817
Stop Loss: Too far to be reached :D
Time of trade: 10-15 minutes

Profit for today: 10 pips x 2 lots x $10/pip = $200

That was all for today, I'm satisfied with profit made this week. I might stay away from the PC tomorrow but if I see some opportunities I might take advantage.

02 April 2008

EUR/USD 10 pips profit x 2 lots / Another great day

Hello my friends,

Today was a great day as I expected. EUR, GBP and USD made beautiful moves. So here is the chart for today's trade (EUR/USD):

Regression Channel was broker early in the morning at 00.00 GMT
2 EMAs crossed at 8.00 GMT
MACD turned up at 9.30 GMT
At the 4th MACD bar W%R hardly retraced to -20.23 level so that was good
Price aboce 2 EMAs

11.00 GMT: BUY @ 1.5641 with 2 lots
Target: 1.5651
Time of trade: 3 minutes :D
Profit for today: 10 pips x 2 lots x $10/pip = $200 USD

GBP/USD gave a early signal at 7.00 GMT when it broke the RegChan but when price retraced it closed again IN the RegChan so I prefer to forget about it and look for other opportunities on other pairs (like EUR/USD :D )

That was all for today.

Happy PIPpin' !

01 April 2008

Tutorial: How to respect the strategy and keep your SL

Hello my friends,

It was a terrible start of the week the the main pairs ranging all day.
So, what I am about to show you today is a part of my strategy and why I respect it so much and Why is important to respect any strategy.

You will see bellow a mini-movie I captured today specially for this Tutorial because I want to point out the importance of Williams %R crossing RSI at a possible signal moment:

So, as I stated before I don't trust the market when W%R crosses RSI. Why ? Because it shows changes in minitrends.

So if I were a greedy trader I would enter in LIVE account when W%R retraced and crossed RSI(because all other signals were good: macd, crossing of 2 ema, price above ema) but I respected the rules of my strategy and I'm just happy because in DEMO, in the video above someone would have lost $520 USD. I'm happy that I saved my money and now I expect more signals.

REMEMBER: Always respect your strategy, keep your Stop Loss INTACT, don't move it lower or higher hoping for a better trade, don't waste your money with false thoughts and emotions, keep steady and strong on your principles.