Friday's update: Winners Edge Trading
There was no trade on Friday as the market did not give any re-entry points for a short position. I did close to earlier positions for +230 pips each. This week was an excellent week for trading and my students learned a lot about how to use support and resistance levels.

Results for the week: + 585 pips

Monday's Forecast

The price of the Euro is now touching a double bottom the last downward candle is forming a hammer which indicates that the downward pressu...

Continue reading ...

Thursdays results:

I get excited when I have days like this. :)  I previously forecasted on my blog that I would go short on the Euro. The pair was trading in a channel that was broken to the downside. In addition I predicted that the news would drive the Euro down against the Dollar. I was right in both counts and I had a profitable day.

Results:
Short 1 lot before news release at 7:30 am before the news release at 1.3125 no limit with a 100 pip stop with a trailing stop of 85 pips. The lot is ...
Continue reading ...

Yesterday's results:

No trade. The market was not moving much in anticipation of today's late afternoon news about the FOMC Rate Decision which was a cut of .25 that news had a negative impact. I should have mentioned the news in yesterdays write up. Tomarrow's big new will be the Initial unemployment claims to be announced at 8:30 am. The report is expecting 589K more jobs lost. I expect that number will be bigger than reported So I predict that will have a negative impact on the Euro. I do n...
Continue reading ...

Yesterday's result was I entered 3 lots short after the bounce off of the trend wall.

I ended up gettning stopped out on all 3.

The first lot - 55 pips
2nd lot -75 pips
3rd lot break even.
Total -130 pips

Wednesday trade Setup

We are still working with that downward trend wall. However we are in the 3rd day of upward movement so I am looking for that trend wall to be broken so the price moves through that I will trade long tomarrow. If there is a bounce I will be short again if buy short I will wait...
Continue reading ...

Mondays Results:

The price went to the trend wall on the 4 hr chart it initially bounced of off the trend wall and then start to climb and it went right through it. So After it went through the trend line I went to a 1 hr chart and waited for the one hr candle to close above the trend wall. I was a little hesitant in making an order to the upside so I risked less than normal and only bought one lot.

However it went straight to the target of +100 pips

Tuesdays Trade Setup
The trend on monday was u...

Continue reading ...

Friday I entered short at a low resistance level. However after my entry the price went back up and I was stopped out of all 3 positions.

Results were
-55pips
-75 pips
-100 pips
Total - 230 pips

However for the Week I was up again at a total of +364 So it was a profitable week. That is all I am looking for.

Mondays Trade Setup
The price is currently in a channel which I have drawn the lines on my chart. I am anticipating the price to hit that channel wall and continue to slide.






So Here it is.

When the ...

Continue reading ...

Thursday Results:
I entered short at 1.3030 after the price hit the 38.2 retracement level.
The RSI was under 50

As always 3 lots.
1st Lot +55 pips
2nd Lot +100 pips
3rd lot is still open

Fridays Setup:

The Fib trade was good so I am holding the one lot I have as I believe it will go lower. I believe we will test the 0 level on the Fib Retracement. So if we break that zero level I will enter short at that time.

We are currently in a bear flag So I expect a drop soon.

However as always you never enter...
Continue reading ...

Wednesday Results:

NO TRADE

The price has been rising and I am waiting for the price to hit the correct Fibonacci Retracement level. So Yesterdays trade setup is still valid. So check there for the setup.
Continue reading ...

My earlier Trade activity:

I sold three lots at 1.3000
the results were:
 +55
+100
+174


Wednesday Trade Setup

I will be looking for more downward movement. I am just looking for the right time to enter.

So We will use Fibonacci retracement To determine the level to enter to the downside.




When The price hits a retracement line and then drops down and the rsi rises above 50 and then drops below 50 that will be the entry to the down side.

I will buy 3 lots
1st lot limit and stop at +55 pips
2nd Lot limt at...
Continue reading ...

Last Weeks Results

I took off Thursday and Friday. Sorry for no warning that I would be gone for those of you following this blog. I won't let that happen again.


Wednesday Recap the price went down through the 1.3150 price down to the 1.3026.

I made + 55 pips on the first lot
+100 on the second lot
Got stopped out for break even on the third lot for a total of +155

Week total of +80

Monday Trade Setup




If the price hits the trend wall and goes down I will enter short if it goes through the trendwall...
Continue reading ...

Todays Results

The downside continues for the Euro and I made up some for yesterdays losses.

I entered short at 1.3275

• I hit my first limit at +55 pips
• I hit my second Limit at +100 pips
• My third lot with no limit is still open

Total for Day is +155 Pips

Tomorrows Trade Setup

The new support is around 1.3155 The Resistance is 1.3300

So this is what I will do If it tops the resistance, I will enter long. If the price goes below the support I will enter short.


Tommorrows Setup


Enter Short w...

Continue reading ...

Today's Recap:

I opened 3 lots at 1.3300 and all got stopped out. The pair tested the 1.3300 support and did a false break and then bounce up. I got in two early I should have waited longer before a short entry.

Total For today -230 pips


Tuesdays Trade. Since we saw the bounce off of 1.3300 that is a bullish signal and we will be looking to go long around 1.3550

However if the price does drop we will watch that 1.3300 level again but this time watch for false breaks.







Tomorrows Trade Setup:

• En...

Continue reading ...

Friday's Recap

Ok The news announcement of non-farm payrolls came out and completely reversed the direction of the pair. I sold Short 3 lots on Friday at 1.3585

• 1st lot went to my target at +55 pips
• 2nd lot went to target at +100 Pips
• 3rd lot went for +110 pips

For a total +265 pips

Grand total for the week was + 670 Pips !

Mondays trade Setup

The Support level is 1.3310 I tend to believe that we will test this level  early next week. So I will be looking to enter short at 1.3300 if we ...

Continue reading ...

No Trade today as the pair was range trading all day. There were some large moves however with my system I do not range trade I will only enter a trade when support or resistance levels are broken.

So the setup tomorrow is the same as today read my previous post to see the setup.

Happy Trading.
Continue reading ...

Todays Recap

 

• I finally closed the short position I opened  on Monday at 1.3820 for a profit of +211 pips.
• I opened three lots long at 1.3675
• The first lot hit my limit at +55 Pips
• The second and third lots got stopped out at -75 and -100 I should of moved my stops when I was up 55 pips.
• 211+55 = 266   Losses = 100+75 =175

Total for the day was +91 pips

Setup for Tommorrow

I am watching the Fibanocci levels and I am also watch the trend line.

The Fibonacci levels are telling me that...

Continue reading ...

Before I begin with tomorrows trade talk. I will show my results from yesterday. I still have one lot open which was opened on monday short at 1.3820 It is currently at +272 pips

I sold Short 3 lots 1.3520

• 1st lot I sold short and took profit at +55 pips
• 2nd lot I sold Short and took profit at +100 pips
• 3rd lot I did not set a limit as I was going to let the trade run. However it came back up to the original price and I had the stop set at +14 so I got +14

Total for the day was +169 pi...

Continue reading ...

 

Yesterday the trade went exactly as planned. I entered 3 lots at 1.3800 and on the first lot I set a limit of 55 pips to get a quick profit. The price dropped right through that like a hot knife through butter. My next lot I had a limit of 100 pips the price dropped through that quite easily as well. The third lot I let ride, the position is still open the stop right now is 1.3799 I have it set at +1 pips with a 210 pip trailing stop.

Recap:

• 1 lot +55
• 1 lot +100
• 1 lot still open right ...

Continue reading ...

Welcome my Trading Blog I will be writing everyday my trading activities. For several  reasons for my own personal benefit to improve my trading and so I can learn from myself and my history. Also so that I can learn from others who will come in here and evaluate my trading and give me advice. Third to share with others so they can learn as well. I will daily record my results after each trading day and also talk about the next days trade.

So lets get started!

 The current trend is down off of ...

Continue reading ...