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Browsing Archive: October, 2009
Mark Thomas-- Trade On TrackHere's another NYTime trading system update, now that we're at the end of October. I wasn't able to grab the figures for the last day (31st) because the day hadn't been closed off yet. Apart from that though, the month has seen moderate profits of around 8.3% return. Here's a list of the trades that were triggered, along with their returns:  There were a couple of losses at the end of September which brought our trade risk level down to zero, based on our money manag... Continue reading ...
 Yesterday I shared a possible trade setup on the Eur/Usd, today I thought I would write about the Usd/Cad. The price in this pair has been trending up and is about to break the downward trendline. If this trendline is broken on the daily chart that will be a good entry point long for the Usd/Cad. The current resistance level of 1.0820 was tested at the end of the day Friday and the next level of resistance will be 1.000 level. If we see the price open above the or move above the 1.0820 look f... Continue reading ...
The Euro lost some major ground this week because of a downturn in the U.S. Stock market. The fear is coming back and it appears as if the recovery that everyone was so excited about is not happening as expected. Lets go straight to the daily chart and see what we have. Daily Chart *Note Click on the chart to learn about this charting system.  We can see that the pair has been trending upwards for some time now. Also notice the blue trendline is currently being tested. If we see a break of tha... Continue reading ...
Posted by Casey Stubbs on Friday, October 30, 2009,
In :
Forex Tree Guy
 Tony-- JCL's Forex TradingTo say I was unprepared for the Forex business would be an understatement. I spent my professional life working with trees! I figured that Forex couldn't be too different, right? Wrong! Let me say that again: WRONG. Yes, it deserves to be capitalized. Like with most business models, the tree business has plenty of vendors and operators just waiting to take my hard earned money. The difference is that, when you work with trees, you can usually see exactly what you... Continue reading ...
The risk aversion on Dollar has moved the Eur/Usd is back and trading in action the Dow dropped 1% today due to fear The pair moved to 1.4700 which is over 300 pips from the high reached earlier this month. Right now the drop has stopped at .618 Fibonacci retracement level which has acted as temporary support. The 1.4700 level has also acted as support. If we see this level broken the direction could continue to move down. You can see how the pair has stopped at the support line on the 4 Hr ch... Continue reading ...
The eur/usd has had a major correction falling over 100 pips in Monday's trading session. The price dropped quickly and the fall stopped just as quickly halting at a strong resistance level of 1.4842. This trading area was tested 3 times previously and the price did not break through. You can see from the 4 hour charts that this trading area represents a stong support area. You can view all of the news this week that will have an impact on the Euro in the Eur/Usd weekly outlook. 4Hr Chart  Thi... Continue reading ...
Posted by Mark Thomas on Sunday, October 25, 2009,
In :
Mark Thomas
 Mark Thomas-- Trade On TrackWhen reading articles from experienced forex traders trying to teach you something, you normally only hear about how this one was a winner and that one made you 500 pips. Well, here's a spanner in the works - here's how things can go wrong too, because it happens to all of us and it's part of trading. If you want to be a good trader, you're going to need to be able to deal with losses, sometimes big or very frustrating losses. So, here's my story from Friday tra... Continue reading ...
 This is the Tree Dude Tony. I am excited to introduce Tony, forex trader extraordinaire. Tony is an average working man that thought he would give Forex Trading a try. It was not easy for Tony he has traded for 4 years and has been through many forex guru programs and has the empty bank account to prove it. Not everyone is a Forex Pro, there are many average traders that try to make it trading. After many years and thousands of dollars later Tony has finally learned to trade profitably. His a... Continue reading ...
The Eur/Usd has finally hit 1.5000 I actually mentioned this quite a while back in this post here. So now we are finally here, what happens from here? The current up trend has been very strong and that could continue for a long, long time. However I recently heard one person comment and say that the war is not over yet. It appears that every one and everything is against the Dollar right now. So how could the Dollar make a comeback? Lets Look at the charts. There is no real resistance level wh... Continue reading ...
Posted by Mark Thomas on Wednesday, October 21, 2009,
In :
Mark Thomas
 Mark Thomas -- Trade On TrackThere's a buzz around the forex world at the moment in regard to correlations between currency pairs and how you can use them to your advantage in your trading. While I haven't personally downloaded or read any of the "secret" reports on this subject, I thought it might be useful to discuss this topic and to give some examples of how I use currency correlations in my own trading. A "correlation" is a statistical measure of the relationship between currency pairs. ... Continue reading ...
The pair is in a long up trend and has recently broken a trendline to indicate that a new trend could possible be developing. Of course there is always a resistance level here or a support level there that can stop the progress. This is no different today as the upwards movement on the Pound Dollar will be challenged at the 1.6470 level. If the pair can break through that level we can expect this current upward trend to continue. 4 hr chart *Note Click on the chart to learn about a trading s... Continue reading ...
The Pound was on a tear last week and the price gained rapidly over 700 pips in a 3 day period. All I can say about that is wow. I wish I would have had that trade going. Well say no more. The pair has stalled and it has shown some reversal candle signals and now we are waiting to go short and what is our price target? It is greater than 700 pips away, actually the target is 1000 pips. So you can be apart of this weeks most profitable traders if the trade works in our favor. The Eur/Usd is in... Continue reading ...
Posted by Mark Thomas on Saturday, October 17, 2009,
In :
Mark Thomas
Mark Thomas-- Trade On TrackIn this article we will complete the pseudo-code logic behind our fractal-based trailing stop. Previously (see this article: http://www.winnersedgetrading.com/trade-of-the-day/defining-our-fractal-based-trailing-stop-ea), we explored how a fractal point itself could be defined in pseudo-code and we also defined some variables that would remember where our last fractal points were. In addition, we created some pseudo-code logic to tell us where the trailing stop wo... Continue reading ...
Posted by Mark Thomas on Friday, October 16, 2009,
In :
Mark Thomas
 Mark Thomas-- Trade On TrackWhile on the topic of fractals, here's another great use for them: drawing trend lines! Trend lines are a very important part of technical analysis, in fact, they're probably the one thing you need to get right before you move onto more advanced forms of technical analysis. Trend lines can be drawn in lots of different ways, but I'll explain in this article and video how to draw basic uptrend and downtrend lines using fractal points. Trend lines are great for id... Continue reading ...
The Eur/Jpy is testing a downward trendwall on the 4hr chart and that could be significant change in trend as the overall trend has been bearish for quite a while. I am expecting this price to bounce off of this wall and we will see more losses in this pair. The current forecast continues to be bearish unless we see the price break through the downward trend line drawn in the charts. The pair has been traveling sideways in recent trading as the market it battling to determine which way the tre... Continue reading ...
The high on the Eur/Usd today was 1.4876 which took out the high of 1.4844 on September 22, 2009. The pair has been moving towards the important level of 1.5000 which seems that the Eur/Usd is bound and determined to hit in the near future. The pair has been making new highs over the past month and this trend is likely to continue as long as the Dollar continues to drop as it has been.  The new resistance level is 1.4876 and the most recent support level is at 1.4800. The Dollar should continue ... Continue reading ...
Posted by Casey Stubbs on Sunday, October 11, 2009,
In :
Product Review
 JCL's Forex SignalsTraders I am pleased to do a product review that is one of the best trading systems I have ever reviewed. I want to start off by stating that I do not receive any proceeds from writing this article. I approached Jordan the creator of this system and asked if I could use his system and I would do a review of it. He agreed and I am so glad he did. This is a swing trend trading system which trades off of 4hr and 8hr charts using the Meta Trader 4. This system includes 4 indica... Continue reading ...
In trading on Friday the Eur/Usd didn't make it to the previous high of 1.4842 instead it turned at 1.4818 and went south rather quickly. That indicates to me that the Dollar could make a comeback over the next week. There is some important news reports to watch this week. Before trading this week make sure you read the Weekly Forex Outlook at Forex Crunch. This will give you all the important news updates that will impact the currencies during the upcoming week. The current price is at 1.470... Continue reading ...
Posted by Mark Thomas on Friday, October 9, 2009,
In :
Mark Thomas
Mark Thomas-- Trade on TrackFirst of all: Casey made a great call on the double-top reversal of the GBP/USD today. The move is not over yet, the bear is still jumping out of the window (so to speak), and we expect it to move somewhat lower yet. This move is another great example of identifying and using fractals, so that is what this article will concentrate on. Here's a 3hr chart (very similar to a 4hr) of the GBP/USD over the last couple of weeks:  Casey already pointed out the double-top wh... Continue reading ...
I normally write about the Eur/Usd but here is a great opportunity that I could not pass up sharing with you all. There is a double top chart pattern forming. The resistance level of 1.6125 on Sept 30 2009 is being approached right now. This is a key resistance level as the Pound attempts to break out of the current down trend that it is currently trading in. If this fails the price could go all the way down to 1.5850 and beyond. If the price breaks through the top we could see a target of 1.6... Continue reading ...
Posted by Mark Thomas on Wednesday, October 7, 2009,
In :
Mark Thomas
Mark Thomas-- Trade On TrackIn this article we're moving from 'designing' to 'defining'. We're going to start specifying exactly what our automated trailing stop will do and how it will do it. If you're not interested in automation, then please don't be put off ... the breaking down of this trailing stop strategy into little pieces should still be interesting and perhaps useful to you. I'm going to start breaking down our strategy into pseudo-code in this article. Pseudo-code is a logical, ... Continue reading ...
The pair has been bullish the past couple of days as yesterday the Eur/Usd bounced off a key support level of 1.4480. After that the pair has move back up rather quickly and we could see a retest of the previous highat 1.4842. So the way to trade this is to look for a break of the 1.4842 level and at that point the target is 1.5000 a key Physicological level.
4 hr chart * note the click the chart to learn about the system.  This bullish trend could continue for a while so be certain to look for ... Continue reading ...
This was a strong week for the dollar. This week the unemployment news was worse than expectedand the unemployment rate which was a contributing factor to dollar weakness. Read about how this current lack of jobs in the United States is hurting a possible economic recovery. Before we begin to look at the charts lets get ourselves familiar with what economic news is coming up this week by reading the weekly forex update at Forex Crunch. The PMI is supposed to climb above 50 indicating an expand... Continue reading ...
In the last 3 weeks I have been discussing social media and how forex traders can use internet communities and communication tools to assist them in being profitable in their trading. In earlier posts I described how useful twitter and other platforms can be for forex trading. This week I am going to share about a new social community of forex traders called Currensee. Currensee is a forex social center that offers unique tools and functions to the forex trader. They are currently in a privat... Continue reading ...
Posted by Mark Thomas on Saturday, October 3, 2009,
In :
Mark Thomas
Mark Thomas -- Trade on TrackBefore I lose you, let me quickly explain what a "fractal-based trailing stop EA" is - it's more useful and interesting than it might first appear! What we're going to do over the course of the next few articles is to design and develop an Expert Advisor (an automated trading system) that positions and moves our stop loss for us, based on fractals. This EA is not going to be a fully automated trading system, it's just going to automate our stop loss for us. This... Continue reading ...
This is just a quick update on our September trades using the NYTime system. You might remember that we had a few losses in a row near the start of the month, but overall there were a handful of good trades scattered throughout the month which saw us return a profit overall. To recap on the strategy: We use some money management rules to determine how much we'll risk. This varies between 0% and 4% (reduce by 1% each losing trade, increase by 0.5% each winning trade, jump to 2.5% if we have a w... Continue reading ...
The Dollar has gained ground in today's trading but the momentum stopped when the pair hit the 1.4527 support levels. Mixed news on unemployment and manufacturing did not give the pair any clear direction. The lack of positive information is assisting the dollar because of fears that the recovery is not happening as expected. The current trend is down so keep looking for down trades until the trend changes. The current resistance on a 4 hr chart is 1.4676 and the current support is .14525 Thi... Continue reading ...
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Casey Stubbs
I am married to a wonderful woman Deanna we have 5 children. I am a christian serving, The Lord Jesus with all my heart. I am involved in my church and take mission trips every year.
I have been trading since I was 18 when my dad taught me. I have traded stocks, options and forex. When I found forex I knew that I would never want to trade any of the others again.
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