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Browsing Archive: September, 2009
 Today's movement in the Eur/Usd was small and not much room for trading unless you are a scalper. My system did not come up with any trades today. That's ok because I will be patient and when the market moves I will take advantage and make some big pips. :) The current support held up at 1.4527 which we bounced off of and that was close to a .500 Fibonacci Retracement level. There is a descending triangle forming and if we break out of that we could drop to the next support level at 1.4475 or... Continue reading ...
Posted by Mark Thomas on Tuesday, September 29, 2009,
In :
Mark Thomas
 Mark Thomas -- Trade On TrackIn this article we're taking a slight deviation from automated trading topics, but we will return to them for the weekend article (when I'll present some "robot" code that you should find quite useful). In this article, we'll discuss the importance of thinking positively when trading. If you are trying to make profits out of the forex market then you'll soon discover a myriad of different strategies and techniques that you can use in the operation of your trading ... Continue reading ...
This is part of me helping my traders. In my last survey the traders said they wanted strategies so here is a new strategy that we can test. Remember try it out on demo before going live. Comment on what you think about it.
This Strategy was posted by Erik Kanters @ Traders Home.
The Slingshot Strategy
Pairs to trade with this strategy:
-EUR/USD
Chart setup:
-1 hour candlestick chart
-10 period EMA using the high price
-10 period EMA using the close price
-10 period EMA using the low price
Long (buy)... Continue reading ...
After the tremendous movement in the Eur/Usd we have seen some slowdown in the upwards movement and we have a support and resistance channel that has been formed that will offer traders easily identifiable trade entry points. 4hr Chart *note click the chart to learn about trading software.  On the 4hr chart we can see that we tested the 1.4840 resistance area twice and we have also traded the 1.4600 support area twice. The pair is in about a 200 pip trading range and there could be some nice ra... Continue reading ...
 Last week I wrote about Twitter and the impact of being able to share information instantly with many people at once. That article brought about some good feedback from other traders about communication and trading. Many comments were praising Twitter and the help that sharing information and trade ideas has brought to traders. Other traders commented saying that trading should be planned well thought out and no discussion is necessary. One trader commented and said these people that blindly ... Continue reading ...
Posted by Mark Thomas on Friday, September 25, 2009,
In :
Mark Thomas
 Mark Thomas-- Trade On TrackIt's easy to believe in the current forex climate, that Expert Advisors (EAs) for Metatrader 4 are the only way that you can get into automated forex trading. With all the trading robot scams and high-powered marketing that goes on with MT4 EAs, many traders think that running MT4 is the only choice they have. There are in fact many software vendors who provide trading platforms that allow for some form of automation. This article will cover a few of them along ... Continue reading ...
This is an article posted by one of my contacts from my newsletter. This is so good I had to share it to help other traders. Please welcome Michael and leave a comment I recommend following him on Twitter as well. He did a good job with his first article.
The Greatest trading lessons I have learned
by Michael Storm aka Robinhood. Twitter ID: neo761
#1.) Price has MEMORY.
Where there is a pivot or a turning point on any given chart and then a subsequent rise or downdraft, it takes TIME to ... Continue reading ...
Posted by Mark Thomas on Tuesday, September 22, 2009,
In :
Mark Thomas
Mark Thomas -- Trade On Track
An important step in the development of an automated forex trading strategy (trading robot or EA) is the testing phase. Testing should involve back-testing as well as forward-testing and be performed as accurately and extensively as possible. No amount of testing can absolutely assure future results, so the idea is to be as sure as possible!
Why Test?
The answer seems obvious ... so that you can be reasonably sure of what you'll get from your automated trading str... Continue reading ...
Today my trading was successful as I traded for +20 pips on one trade during the NY Session. I have included a screenshot of my trading journal I just started sharing this information on this blog last week. I wanted for traders to understand the importance of a trading log. All traders should have a trading log so they can figure out if their trading strategy is working. 
Winners Edge Traders SurveyI recently had a survey to my subscribers and they overwhelmingly told me to provide strategies... Continue reading ...
The Eur/Usd passed the important resistance level last week which is a major bullish indicator and the next target is 1.4835 which was the price on September 21, 2008. However we have had two straight weeks of moving straight up and it is time for a pull back to happen this week. The most recent support level has been at 1.4650 and 1.14515. In addition to support and resistance levels we can look at the 4Hr chart and see the Fibonacci retracement levels to watch if there is a pullback. The fi... Continue reading ...
 This is the first article in a Forex Trading Social Media Series by Casey StubbsThe purpose of this article is to introduce forex traders to an incredible tool that is available to them, Twitter. The second point of this article is to introduce forex service providers, businesses, websites, technical, and fundamental analysts to an incredible tool available to them, Twitter. So the traders, teachers and all involved in the forex market will benefit from Twitter. Twitter is here and it is chan... Continue reading ...
Posted by Mark Thomas on Friday, September 18, 2009,
In :
Mark Thomas
 This article opens up a new series where we talk about the development of trading robots, sometimes called Expert Advisors or EAs. Trading bots are increasing in popularity in the forex world and many newcomers jump in and buy them without really knowing what they're doing. This article series will hopefully enlighten you as to what they're all about, what to look for and how to avoid the various pitfalls. In this first article, we'll cover what a trading robot actually is, the reasons for u... Continue reading ...
Today the Eur/Usd made it to the much anticipated 1.4720 resistance area and slightly higher. The pair faced strong resistance at that point and did not break through. Many traders are on the sidelines right now waiting for news and for a clear direction of which way the pair will go from here. Check the Forex Crunch for the upcoming news in the forex market. The strong run the Euro has had in the last two weeks has been going strong and there is talk among traders of a retracement as selling ... Continue reading ...
The euro is continuing to press higher but has not yet hit that 1.4718 resistance level that many traders have been watching for. In today's trading the Eur/Usd retraced to the 1.4561 which took me out of my long position I opened yesterday for break even. Today was fantastic thanks to Trader66 a fellow that I interact with on Twitter, whom I highly recommend you follow as he gives great tips. He informed me that the Eur/Usd was breaking out of a triangle on a 10 minute chart and I looked at ... Continue reading ...
Posted by Mark Thomas on Tuesday, September 15, 2009,
In :
Mark Thomas
A forex trading log is an important but often underutilized asset for many traders. Profitable traders will often make mention of discipline as the cornerstone to their success and this normally starts with keeping accurate records of all their trade activities. It is important to develop the habit of tracking your trades and analyzing their performance. This will provide great benefits to you if you hope to become one of the few that successfully build long-term and consistent profits.
A for... Continue reading ...
Yesterday, I wrote about the doji on the Eur/Usd at the end of the week. I mentioned that if after the doji we had another down candle we would be out of the uptrend for a short period of time and we could go short. What actually happened was that we moved down to the 1.4500 support level and then there was a bounce that moved up. I was watching and waiting for the bounce or break through. Since a bounce occured I looked at the charts and made a long entry at 1.4590. I could have gone in soon... Continue reading ...
Today we will be looking at two trading strategies one is the Eur/Usd that I would like to discuss and the other is by one of my active readers, Patrick who has contributed to the blog quite alot so thanks Patrick for helping so much. First we will discuss Patrick trade strategy that he kindly shared with us: Hey fellow traders. I think the hardest part of trading is actually pulling the trigger whether to ge in or out of a trade. I start with a very simple setup, bollinger bands, pivot points ... Continue reading ...
Posted by Mark Thomas on Friday, September 11, 2009,
In :
Mark Thomas
 Mark Thomas - Trade on TrackDiscipline is often quoted as one of the cornerstones of a successful trader, but how do we get it? What importance does it really have in how well we do? In this article I'll discuss the importance of discipline and some tricks you can use to improve your trading discipline. Learning to trade tells us a lot about ourselves, our personalities, our strengths and weaknesses. We may discover that our self control is lacking, that we love to chase excitement at virtu... Continue reading ...
Hello, Traders how are you all doing? I hope grabbing some pips as I have this week. I am doing quite well except I had to rewrite this blog post because I accidently hit the cancle button. I was working on it for an hour and it was quite good. I wanted to cry. Anyhow get up, dust myself off and start moving again, if that is the worst thing that happens to me tonight I am a blessed man. Traders this blog is for you and I want to hear what you have to say. Send me your best trade idea and setup... Continue reading ...
After making a strong breakout of the trading range yesterday the Eur/Usd now has a target of 1.4700 which is the new resistance level. The support level is 1.4450 and 1.400 If the target resistance level of .4700 is taken out the target price would be 1.4856 which was hit on September 21, 2008 Which you can see I circled that on the daily chart. Daily Chart * note clicking on the chart will show you information for a premier charting system  Trade Setup: Watch for a bullish move of of yesterday'... Continue reading ...
 Mark Thomas --Trade On Track This is the last edition of the Time Base Strategy Series- Make sure you read all the articles by clicking here.Having covered the entry, initial stop loss and the money management rules for our time-based forex trading strategy, it makes sense that our exit rules should be time-based too. In this article I will explain when to move the stop loss to a safer position and also when to exit the position if not stopped out beforehand. I mentioned earlier on in this ar... Continue reading ...
The Eur/Usd tested the trading range early this morning. That would be a bullish signal that indicates that we may see more gains for the Euro to come in the near future. The price stopped moving right at the 1.4448 resistance level that was created on August 4th, 2009 4HR Chart *Note Clicking on the chart will show your our trading software  Right now, the new support is the 1.4400 so we should be looking for a bounce off of that support to retest the 1.4448 resistance level. If the price brea... Continue reading ...
Posted by Casey Stubbs on Sunday, September 6, 2009,
In :
Product Review
 There has been numerous reports of news stories about big time companies scamming people out of their hard earned money in the Forex trading industry. From mismanaged trading accounts to false accusations on those magical EA or forex robots. This is one of the reasons that new regulations are coming down so hard is because of the scammers that are not willing to learn to trade but instead they would rather take someones money. There is a story about Beau Diamond who was operating a Ponzi Sche... Continue reading ...
This week the Eur/Usd stayed in a tight trading range without breaking out. The range for the week was a high of 1.4380 and a low of 1.4178 So those are the key support and resistance levels that we all need to be watching this week. This week is a holiday for the U.S. so trading will be light on Monday and you might want to stay on the sidelines because of light volume. I will be taking that day off as well I am going on a picnic with my family. 4HR Chart *Note Click on the chart to learn abou... Continue reading ...
NYTime - Money ManagementHere's where things get really interesting. The advanced money management rules used in the NYTime time-based forex strategy make the difference between a system that wins some of the time and a system that can keep producing consistent profits.
Most traders hear the term "Money Management" and assume it's going to be the same old "only risk 2% of your account per trade" rule. I'm not saying that's a... Continue reading ...
 Jimmy Young-- Forex Trader This was submitted to me by one of my readers and there is alot of value in it. take this page an bookmark it and read these points all the time. I don't agree with everything but this is good. Let me know what you all think of this. --CaseyThis article looks at the most common reasons why professional and new traders lose money on the forex market. Instead of learning from failure, learn how to avoid it.
Knowledge Deficiency Most new forex traders do not take the time... Continue reading ...
 Today I received an email from one of my readers for advice on a trading strategy. It was a great question and I am going to answer it here on the blog so that everyone may benefit from this traders question. He asked for advice on a trading strategy and so I am going to ask for trader participation in this one. If you have any trading tips that I missed. Please share them here and we will all become better traders. This is what he posted: I am a short term trader who use 5/10 EMA crossing, RS... Continue reading ...
This range is being stubborn and the price does not want to break out. We dropped below the 1.4200 to hit 1.4179 but the pair bounced out quickly so that was a false break. Even though the range is stubborn we have had some good opportunities for profits on bounces off support levels. I want to clarify something for everyone here: When I do technical analysis and I put on a bear flag or ascending triangle like I did yesterday. I do not by any means for someone to enter a trade before the actu... Continue reading ...
It pays to wait until the time is right instead of forcing the trade. In yesterday's trade update I described the channel that the Eur/Usd is moving in right now and I drew an ascending triangle and stated that when the price broke out of the triangle to make a trade. Today the price broke, I made a trade and it worked exactly as I wrote earlier. I love it when that happens, for two reasons is it helps all of you and it helps me :) 4hr chart *Note clicking on the chart shows our trading softwa... Continue reading ...
This is the 4th article in the Time Based Strategy series.Part 1-- Think Outside The Square with Time-based Trading StrategiesPart 2 -- Stop Your LossesPart 3-- The Anatomy of a Profitable Trading Strategy
NYTime - Entry and Stop for Time-Based StrategyMark Thomas-- Trade On Track This article follows on from past articles, describing our time-based forex trading strategy based on the NY session. From this point on, we'll call this strategy "NYTime" for simplicity. In this article I will descr... 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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