A Plan for Profit, How to Reward Yourself for Growth as a Trader.
by Michael "Robinhood" Storm.
Occasionally we are contacted here at winners edge by folks
that are having a hard time making consistent gains as traders. Some
are really troubled with their performance and concerned because of
Losses slowly eating up their precious capital. Often Casey and I have
heard similar stories of losses, followed by questions like this: "If
I place X amount of money in the market, can I make it... Continue reading ...
Posted by Casey Stubbs on Saturday, March 13, 2010,
In :
Michael Storm
Hi Folks,
Michael "Robinhood" Storm here, Signing in again here with a potential
trade set up on the USD/CAD pair...
We have been pretty stacked to the short side on the euro dollar
and pound dollar pairs and you know what happens when we get to heavy
with the shorts. That's right, there is a possibility of a short
squeeze and shakeout happening now. See the charts at the close of
thursdays session there were MASSIVE amounts of ascending triangle
patterns on all the charts and... Continue reading ...
Posted by Casey Stubbs on Saturday, March 13, 2010,
In :
Trading Videos
Last week I did a training Webinar and so many people asked for recording, So I have posted it here for anyone who wants to catch up on the Forex Free Training. These are techniques and tips that are taught at our Forex Trading School. This video covers: Trade setups, Exits, trading psychology, risk management, support and resistance and more.
Please leave some valid feedback so that I can improve my videos to help the traders more.
Hi Folks, sorry its been so long since my last article but the
trading room has grown and my first responsibility is to those traders
that are now a member of our team. We sure do have some boring times.
But they are followed by great times to and you have to be waiting for
the right setups. Here is an EXAMPLE of a few very common setups that
happen just about every day and on just about any given currency pair.
Posted by Casey Stubbs on Thursday, March 11, 2010,
In :
Trade opportunities
Hello, Traders it is good to be back and I have been away from my posts because the Eur/Usd has not made much price movement and has been stuck in a trading range for quite a long time. In addition I have been recording a trading video series that will be released soon. The series is going to be focusing on Forex Training and many aspects of how to trade profitably, from technical analysis, to news, to psychology and then some.
So anyways the Eur/Usd is in a narrow price range from 1.3690 to 1... Continue reading ...
Posted by Casey Stubbs on Sunday, February 28, 2010,
In :
Trade opportunities
This is a video analysis over 8 major currency pairs that will help you to prepare for your trading week. This is primarily a technical analysis, it is also important to learn about the current funbdamental situation as that has a dramatic impact on the currency as well. It is a valuable skill that will enable a trader to learn to interpret fundamental and technical data together to help a trader to get maximum profits.
Posted by Casey Stubbs on Saturday, February 27, 2010,
In :
Trading Strategy
Detecting Forex Price Trends using Candlesticks
Wednesday, February 24, 2010
By: Terry Allen
Expert consensus considers that candle patterns that have either a long upper or lower shadow with little body, are the most useful, e.g. hanging man, hammer, morning star and inverted hammer. You are also recommended to search for these patterns on the more reliable hourly and longer-period charts.
You can use these candlestick patterns in the following way. If you have been unable t...
Posted by Casey Stubbs on Saturday, February 27, 2010,
In :
Trade opportunities
Hello Traders the weekend is upon us and I hope you get some well deserved rest. We have a great amount of weekend reading coming out so make sure to sign up for our feed so that you can read the posts at your leisure.
The market had many large price moves during news announcements which could be wildly profitable if the trader had the discipline to be on the right side of the trades. One of the most volatile pairs this week was the Gbp/Jpy and we had several days with over 100 pip daily rang... Continue reading ...
Posted by Casey Stubbs on Thursday, February 25, 2010,
In :
Trade opportunities
Hello Traders,
I hope all of your trading has been profitable lately. If it has not please comment in the box below and I will get back to you. I am a trading coach and besides technical analysis there is the strategy, money management and proper trading mindset. I understand the pain and discomfort caused by losing income in your trading and the mental roadblocks that can cause losses in your trading.
Today the pair was trading in a smaller range than yesterday so the way that I took profit ou... Continue reading ...
Posted by Casey Stubbs on Wednesday, February 24, 2010,
In :
Michael Storm
Hello fellow traders. Here is a swing trade idea for all regarding the
GBP/JPY. Sorry for the lack of posts from myself recently, but our
trading room keeps me fairly busy. Anyway, this one may trigger this eve
or within the next day. See this chart of the Pound yen and you can
see critical daily support is at 138.25. Should this break (as did the
pound last week when critical daily broke... we went down very big), I
believe we shall see a rather large downdraft of a few hundred more ... Continue reading ...
Posted by Casey Stubbs on Tuesday, February 23, 2010,
In :
Trade opportunities
The Eur/Usd moved up to test the 1.3700 area in early trading to make a breakdown in early trading during the London session. The downward move continued through the NY trading session as well. The price finally stalled out at about the 1.3500 support area. Every time there is a rally it gets pulled back rather quickly. The current resistance level to watch is 1.3700 and the support level is 1.3450
4hr chart *Note Click the chart to learn about our premium trading service.
Posted by Casey Stubbs on Saturday, February 20, 2010,
In :
Trade opportunities
It is time to get ready for your trading next week and this means time to analyze the pairs and look at the daily trends. If you take time to identify the trend you trading will be more profitable. Could this week be the week that sees a change in the direction of the currency pairs.
Posted by Casey Stubbs on Saturday, February 20, 2010,
In :
Forex Training
There
is an old saying that a journey of a thousand miles begins with a
single step. This is also true of forex trading. Every trader wants to
make big money, but trading just to make the most money turns investing
into gambling. Successful traders should set goals that guide their
trades. Not only do successful traders make goals, they make a series
of targeted goals that are comprised of small achievable goals that
lead to larger ends.
Psychology Governing Abilities to trade with Forex
It is often said that no body can anticipate the high or low of the market accurately. This market may be either the share market or the forex trading . However everybody who enters in the trading hopes to win but at heart to heart, there is a fear factor. Traders who have been in this business feel and often confess that performance of traders on the trading floor depends heavily on their mental make up and the psychological games playe... Continue reading ...
Posted by Casey Stubbs on Thursday, February 18, 2010,
In :
Trade opportunities
The Euro yesterday gave up all of it's gains verses the Dollar but stopped short of reaching new lows. The pair stalled out at 1.3540 and the previous lows were around 1.3531. Right now we could be entering a consolidated range trading period where the price will be waiting before making a decision which way that it is likely to go.
The current range is between 1.3531 and 1.3780 watch these levels closely for bounces off of and for possible breaks. The way to trade these is to enter trades if ... Continue reading ...
Posted by Casey Stubbs on Wednesday, February 17, 2010,
In :
Trading Strategy
The
amount of information available online about currency markets is nearly
infinite. Parsing through this data to make intelligence decisions
about when,what, and how much to trade can quickly become overwhelming.
Profitable traders handle this information and make intelligent
decisions by creating a trading plan that sets up a blue print of your
goals and the tools you will use to reach those goals.
A
trading plan should have three parts: What you want to accomplish, what
tools you will use...
Posted by Casey Stubbs on Tuesday, February 16, 2010,
In :
Trade opportunities
The Eur/Usd made a major bounce today verses the lows that the pair established on Friday. The pair smashed through the major resistance level of 1.3700 to move all the way to 1.3772. The pair is now consolidating and has not retreated from the gains made today. The next major resistance hurdle for the Eur/Usd will be the 1.3800 area as that will be a psychological level to contend with. If the pair continues to make gains the 1.4000 will be another major resistance point.
Posted by Casey Stubbs on Saturday, February 13, 2010,
In :
Trade opportunities
This is a video analysis that covers the most of the major currency pairs. This is a general analysis that gives traders a great starting point in planning thier trading strategies for the upcoming week. This video is a representation of technical analysis and has no information regarding forex news or fundamental data. To get more information on the current news announcements visit Forex Crunch. Also for further reading check out The Geek Knows.
Before you trade, have you made sure that you are not just making an emotional decision? When traders are running a business trading stocks, futures, options, or currencies they should know specific information. Trading is a business that requires planning and preparation. Trading is not gambling, unless you are just making decisions blindly without a plan. Every time you trade you should already know your target price, the risk level, and the strategy you are using. ... Continue reading ...
Posted by Casey Stubbs on Wednesday, February 10, 2010,
In :
Trade opportunities
The Eur/Usd has bounced off of the lows on and has been up for two days in a row. The pull back stopped at the 23% retracement level and then bounced back down. A 23% retracement is not a strong retracement and we could still see this pair move to the 50% level in the next day or so which is near 1.4100. There will be strong resistance at the 1.4000 level if the pair continues to that level.
The daily chart shows the long downward move that we have had over the past weeks the next support ... Continue reading ...
Today was a news day for trading the currency market. Many pairs dropped dramatically during this mornings New York session. The Asian session was wild as well, with wide, long and quick price swings. My point is this on a wild day like today you can get killed and put out of the market unless you practice discipline and use proper stop losses.
I ended up benefiting from these wild fluctuations but I was just lucky, very lucky indeed. I could have been on the other side of these wild moves jus... Continue reading ...
Today in my trading I was reminded of a valuable lesson and it was by one of the traders in my room. I sometimes get ahead of myself when entering trades because of anticipation. One of the first things I was taught as a trader is not to act before you get your entry signal. Today, I was entering trades based on what I "felt" was going to happen rather than a signal given. Then one of the traders in the room asked me why did you enter there, because there was no signal?
Posted by Casey Stubbs on Monday, February 1, 2010,
In :
Trade opportunities
In today's trading the Eur/Usd has found a temporary bottom to the advancing decline that was taking place all week. The pair did not bounce sharply but rather held it's ground as I right this the pair is trading at1.3907. The pair is positive in todays trading and this could be the start of a minor pullback. The current level of support is 1.3850 and the current level of resistance is 1.3940 and 1.4000.
This pair could be in a short holding period around these levels and the key support leve... Continue reading ...
Posted by Casey Stubbs on Sunday, January 31, 2010,
In :
Trade opportunities
This is a technical analysis that is designed to help traders identify the daily trend before starting trading for the week. This Forex video analysis covers all of the majors to include the Eur/Usd, Gbp/usd, Eur/Jpy, Usd/Jpy, Gbp/jpy, Usd/Chf, Aud/Usd and the Usd/Cad. This analysis is an opinion only and the trend can change at any time.
Economic News can impact the direction of the pair at any time and it is highly advisable that all traders are well aware of all the news events that are g... Continue reading ...
I have things that I want and goals to achieve just like you do I am sure. I want to be a great trader and I want all the tools to make me a great trader. In trading and in life it is important that you set goals so that you are able to measure your progress. I have always set goals in my life and it has helped me achieve many plans and I now set goals for everything. However I just learned about the concept of rewarding myself for achieving those goals from my friend Michael Storm.
Posted by Casey Stubbs on Friday, January 29, 2010,
In :
Trade opportunities
Every day this week the Eur/Usd was hitting new lows and it appears we are in a straight free fall. To answer the question when will the bleeding stop we have a couple of support areas at the 1.3823 area which was close to the close now. Other areas where we has support where we could see stalling is the 1.3400 1.3500 areas.
I have identified potential support and reverse areas on the daily chart below.
Daily Chart *Note Click on the chart to learn about our trading system.
Posted by Casey Stubbs on Tuesday, January 26, 2010,
In :
Trade opportunities
The price on the Eur/Usd is in a consolidation pattern waiting for a breakout. The sentiment is that the pair will break the 1.4000 level soon. The pair has been offering some support at the 1.4000 level and has not broken south of that line. However there has not been much strength at all in the pair and the Dollar is strong right now in all verses all the pairs.
Watch the pair break out of the 1.4200 or 1.4000 range for any clear indication about which direction the pair will continue to mov... Continue reading ...
Posted by Casey Stubbs on Sunday, January 24, 2010,
In :
Trade opportunities
I am going to do an overview on how I think all of the major pairs that I trade will do for the week. This will give you an idea of how to look for trades this week. It is important to start out with the right mindset and to try to find trades that are in line with the trend.
When starting to trade I am reminding myself this week that I am going to keep my profits and be disciplined. Keep my risk low and make lots of money this week.
In the live trading room this subject occasionally comes up of "what books do you recommend" So, I thought I would take some time and make a top 10 list of my favorite books of all time. I have traded for 10 years and read dozens of book, taken many courses, watched dozens of video's etc... and so on. There is no end to the amount of strategies that can be developed. Many new traders can become so fascinated with indicators and strategies because... Continue reading ...
Is leaving money on the table something to worry about in your trading? To answer that question simply the answer is Yes, but you have to let it go and not dwell on it. I know that all the Forex Trading pros say let your winners run and cut your losers short and they are right. But, and this is a very big but, any trade is a good trade as long as you are positive. I was having a discussion with a trader last week and he was upset because he said he lost $1,200.00 on a trade. I would be ups... Continue reading ...
Posted by Casey Stubbs on Friday, January 22, 2010,
In :
Trade opportunities
The Euro continues to dive and make new lows this week. The price bottomed out yesterday at 1.4029 and then hanging in a consolidation range until the pair decides to do a critical breakout in either direction.
There are mixed opinions about the future for the Euro/Usd, some experts are saying that the pair will drop going all the way to 1.24 and others are saying that 1.4000 is the bottom of this temporary move. It can be a long and dauntiing task to figure out the fundamentals. What I under... Continue reading ...
Posted by Casey Stubbs on Thursday, January 21, 2010,
In :
Trade opportunities
This post is going to cover the Eur/Usd and the Eur/Gbp on a video that I filmed showing a live trade that I made. The Eur/Usd has broken through support at 1.4200 and looks like it is going to continue to drop. The best way to trade this pair is identify key support and resistance levels and put on buy and sell orders after the price bounces around or breaks through those levesl.
The current support level for the Eur/Usd is 1.4000 we could get some consolidation in this pair before the move c... Continue reading ...
Posted by Casey Stubbs on Tuesday, January 19, 2010,
In :
Trade opportunities
Here is a trading video I shot on a trade that I entered into this morning. I am planning on doing more of these videos as I think these are helpful to new traders.
Posted by Leo Ong on Sunday, January 17, 2010,
In :
Trading Strategy
Before this article I would like introduce my friend Leo, Leo has been a reader of the blog and has been in my premium trading service. So visit Leo's site and we expect to see many good things that will be of great value from Leo. Also Follow Leo on Twitter.
Forex trading is the easiest and fastest way to get rich. Really! After all, haven't you seen ads all over the internet conveying the same message to you? "Ex top bank trader reveals the one secret that makes 1,... Continue reading ...
Posted by Casey Stubbs on Saturday, January 16, 2010,
In :
Trade opportunities
The Eur/Usd is in a consolidation range right now. The pair was thought to possible break to the upside when it broke the 1.4450 price resistance barrier but that was short lived as the Euro is unpopular right now and out of favor. Despite negative US data reports the pair has not lost ground on the Euro.
As of right now the current support level to watch is 1.4200 if the pair breaks below that we could see the pair go to 1.3800. Friday was very bearish for the pair as the Dollar gained all d... Continue reading ...
Posted by Casey Stubbs on Friday, January 15, 2010,
In :
Trade opportunities
Hello Traders today we have 5 key news items that will impact the Dollar in todays trading. Keep a look at these key news items and be ready for them because the news could move the Eur/Usd if the report is far from expectations.
The Dollar gained during the European trading session and has bottomed out as the Friday New York session is beginning. The Dollar has gained strength despite a series of negative economic news reports. The pair has broken the key support of 1.4450 to drop to 1.4368.... Continue reading ...
Losses, what an ugly word. Traders don't like them. Surely they are not fun. But alas, we all get them. How exactly should we deal with them? It has been said that losses can be a gift... a real learning experience. IF... we are willing to learn and be taught. Rather than to simply "delete" them entirely from your memory, look at it this way: The loss is in, we have paid its price, its tuition if you will, and now how can we learn from it?
Posted by Casey Stubbs on Friday, January 8, 2010,
In :
Economic News
News, News, News is what moves the markets and we have a basket of economic data that will be giving traders an opportunity to capture the volatility that economic news makes. Last month the NFP (Non Farm Payrolls) report rocked the FX Markets because there was a great surprise in the numbers. The forecast was for -119k but the actual number was reported at -11k so that was a shocker by over 100k difference.
I am not expecting a surprise like that on tomorrows announcement but I think we wil...
Posted by Casey Stubbs on Wednesday, January 6, 2010,
In :
Trade opportunities
The answer to that question is, when the market decides it is time, that is when. The determining factor in a break out may be a build up of news in the specific currencies favor. However when the news is mixed and there is no clear strong currency then the market will make the decision and it will move its course. It is important for traders to be aware of the news that moves the market.
When the price is in a range it is easy to buy and sell on support and resistance levels. I identified ... Continue reading ...
Posted by Casey Stubbs on Thursday, December 31, 2009,
In :
Special
I am a man of vision, I like looking forward and moving forward towards our purpose ,which is to help traders make money. However it is important to look back and evaluate what has taken place. We do this to find what works and what doesn't. My Friend Yohay from Forex Crunch did a best of 2009 post, I enjoyed that post so I thought that would be of great value to my readers.
Before I get to that I want to thank everyone that has made 2009 a fantastic first year for Winners Edge Trading. Winner... Continue reading ...
Take advantage of “down-time”. There is not much going on right now. We are in a low liquidity period, wedged between 2 holidays here in the US, we are in the “doldrums” time frame, just like the stock market between 12-2 pm. Why not take advantage of rest, reading a good trading book, sharpening your computer up, etc… This is a great time for taking care of all kinds of stuff that normally doesn’t get done around your home too. Do what... Continue reading ...
Posted by Casey Stubbs on Sunday, December 20, 2009,
In :
Trade opportunities
Yesterday I posted an outlook on the Eur/Usd, today I want to go a bit more in depth with the pair by looking at the daily charts.
The first thing I noticed when looking long term is the Fibonacci retracement level all the way from the beginning of this up move back when the price was 1.2464 that the .382 level is around 1.4119 area. We are getting near that level now so that could be a major area of support that the Dollar must contend with for this bullish move.
Posted by Casey Stubbs on Sunday, December 20, 2009,
In :
Trade opportunities
The Dollar has not slowed down in its climb verses the Euro this week. This weeks trading is moving right at a pace for moving back to the 1.4000 level. The only problem with that is that there has been no retracement on this current down move. Nothing can go straight down forever so we should get a pull back soon. Right now by looking at the 4hr chart we can see a slight pull back has started. The current resistance is at around 1.4400, look for the pair to rebound to that level before cont... Continue reading ...
This is a good question that perhaps some wrestle with or have questions about. Lets examine this closely from a Biblical perspective. Our first and last stop will be…The Bible (all quotations are from the authorized King James version of the Holy Bible). There is nothing like the Scriptures to clear up our understanding.
The word “trade” appears 5 times in the scriptures and is in reference to a person’s occupation. As ... Continue reading ...
I’m a day trader. Or rather I aspire to be a day trader. Every day I trade the foreign exchange (forex) market, but, until recently, I haven’t had much success. Then I met some folks on Twitter who made all the difference for me.
I’ve spent the last few weeks in a trading room presented by Casey Stubbs (@caseystubbs) of Winner’s Edge Trading and moderated by Michael Storm (@neo761). Michael is a long-time professional trader known as Robin Hood in trad... Continue reading ...
Posted by Casey Stubbs on Thursday, December 10, 2009,
In :
Trade opportunities
This post is a heads up to be watching the Eur/Usd because the pair made a signicant drop down early in the week and since then has been consolidating. The price has been in a tight range and the range is getting smaller indicating that a breakout should occur soon. It is possible that the pair could break out in the upcoming Asian, Europe or New York sessions before the end of the week.
1hr chart *note click the chart to learn about the premium service
Posted by Casey Stubbs on Thursday, December 10, 2009,
In :
Trade opportunities
The pair has been trending down since the surprising NFP news released last Friday. Todays trading is in a bit of consolidation and we have hit a shelf or bear flag forming with a possible break to the downside. The target that should be in place is 1.4626 because that is the next key support level that was met on October 2. If we break down below that point we could be in a stronger dollar bullish scenario.
Take a look at the 4hr chart. *Note Click the chart to learn about our premium Forex... Continue reading ...
If you are going to be successful in trading there is one thing that is essential for you to get absolutely clear and if you do not you will face trouble. Trading is NOT “gambling”!
Unfortunately many people think it is. This just shows a deep lack of understanding on their parts. IF, you think that trading is gambling you are setting yourself up for a self fulfilling prophecy of failure. Now, before we begin, lets answer this first: Can trad... Continue reading ...
Continuing on with our price action study, in this article we'll put together a plan for analysing a particular currency pair, on a particular time frame, and see if we can work out a way to get some probabilities on price continuation.
In the last article we talked about a study that was published a few years ago that presented some probabilities of price continuing in the same direction. For instance, the study said that if the EUR/USD moved 15 pips on a 1hr cha... Continue reading ...
Often I ask traders this question and the responses I get are varied from winning strategy, or the right charting system. Sometimes sharp traders will answer by saying money management or discipline. I have even been told by one expert that said experience is the most important for a successful trader. All of those things are an important part in a traders journey to profitablity and becoming a professional trader but they are not the most importan... Continue reading ...
Posted by Casey Stubbs on Saturday, December 5, 2009,
In :
Trade opportunities
Today when the news for the Non Farm Payrolls came out the Dollar took off for major gains and never looked back. The number posted was that U.S. Economy only lost 11,000 jobs. This is big news because the number was supposed to be - 119k so that means that the estimate was 108,000 off. The price reacted suddenly and violently and we had almost a 200 pip move to the downside today. I will give a detailed trade idea at the bottom of this chart.
Posted by Casey Stubbs on Thursday, December 3, 2009,
In :
Trade opportunities
The Eur/Usd has once again found itself inside of a trading range that can be used to gain some good profits for trading. The support of the range finds the support at 1.5032 so I would look for this price to challenge anywhere as low as 1.5000. The resistance of this pair is at 1.5117 and the ceiling here could be anywhere from 1.5100 to 1.5125. As long as the prices stay within this price range I would look to sell near the resistance and buy near the support. The best time to buy and sell ... Continue reading ...
Posted by Casey Stubbs on Tuesday, December 1, 2009,
In :
Trade opportunities
In Saturday's post I wrote about the possible monthly play on the Aud/Usd so today I was looking at that pair and notice that we are in a range today and that gives some possible trading opportunies. As I write this the pair is approaching the resistance point reached earlier in the week.
There are two possible trade options as the price moves towards the resistance level. Option one is a bounce and a trade short and option two is a breakout with a trade long. Lets go to the charts.
Posted by Casey Stubbs on Monday, November 30, 2009,
In :
Trade opportunities
This week the Eur/Usd opened above the 1.5000 level which is above the strong resistance level that the pair has been around. Now that the price is above the 1.5000 that is the new support level to watch for another breakout move. Today is the last day of November and the close of today's trading session is important because if the price can hold above the 1.5000 price that will be a strong signal for more bullish price action for the month of December. If the price drops below 1.5000 that is... Continue reading ...
Posted by Casey Stubbs on Saturday, November 28, 2009,
In :
Special
Winners Edge Trading is Expanding
And
Are joining together to bring forex traders an exciting new trading portal.
Winners Edge Trading is excited to announce a new premium forex trading community. Our goal from the beginning has been to help traders and we have done so consistently to win the trust of many over time. Now we are taking it to the next level, a premium forex community with a live online trading room hosted by pro trader Michael Storm. Michael will be online during the NY Tradi... Continue reading ...
Greeting fellow traders, today I would like to discuss a really great trade that I (unfortunately) missed. I must confess it sort of broke my heart, but we must take comfort in the fact we cannot always capture every trade, but that MORE opportunities Will indeed present themselves in time. This may not be the greatest article, but I feel this is important to look at, as trades like this don’t happen every day. They are rare. Take a look ... Continue reading ...
Posted by Casey Stubbs on Thursday, November 26, 2009,
In :
Special
This is a holiday celebrated in the United States because the events that took place by the pilgrams play a significant role in the creation of this nation. I want to take this opportunity to share how thankful I am and count my blessings.
Since this is a global forex trading website I thought I would take the time to share the history of thanksgiving so that my friends from around the world can understand why we hold this day as a special time.
Posted by Casey Stubbs on Wednesday, November 25, 2009,
In :
Trade opportunities
After trading in a range for the month of November the Eur/Usd move through the resistance of 1.5062 up to the 2009 high. This is bullish sign for the Euro indicating that the current trend will continue.
The breakout happened one day before US Holiday of Thanksgiving on a day when a large supply of news items was released. On Thanksgiving day we can expect light trading due to the US traders taking the day off to enjoy time with their families.
Although long term I am very bullish on Gold I am not in the habit of buying things while they are trading at their all time highs. For as long as the Federal Reserve continues to print easy money the current rally will continue with equities and commodities (gold) rising and the $USD continuing to be devalued.
Eventually the Fed will begin to pull in liquidity from these over inflated levels while rising interest rates to fight inflation. Depending on how well tha... Continue reading ...
Posted by Casey Stubbs on Monday, November 23, 2009,
In :
Trade opportunities
News moves markets but trading the news can be a dangerous endeavor. This is because traders never know how the market will react to a certain news release. Many times the market will move before the news is released and then when the news is announced since the news was anticipated, the market will react in the exact opposite way, you thought that it would. So that is why we trade according to what the price is doing not the what the data tells us. Trading according to how the price is movi... Continue reading ...
This is the first part in a new article series where we study how price moves and how we can profit from the results of what we uncover. This topic of "price action" was inspired by a report that was recently sent to me called "Predicting Price Action", written by Scott Owens with Omer Lizotte in November 2004 (it can be found here: ). That report is obviously dated, and its methods and results were questionable. So, this article series will expand on this repor... Continue reading ...
Posted by Casey Stubbs on Thursday, November 19, 2009,
In :
Trade opportunities
Eur/Usd up, down, up, down like a see saw. For those of you that remember that wonderful playground toy. You are always moving but you never get anywhere. I have good news though there is a trade setup in all of this.
That is how the Eur/Usd has been trading since the beginning of the month of November. Today the price moved lower in the European session and then began to move back up in the New York trading session. The strong resistance level is 1.5000 and the strong support level is 1.480... Continue reading ...
Ok traders, good day to you all. Today I want to discuss with you the pause that refreshes. Take a look at the following chart and tell me, as a SCALPER, what do these 2 charts say to you?
1 Min Chart
5 Min Chart
This is what it tells me. On the one minute, we had a “double test” of recent highs near 134.23 followed by a one minute sell setup (and the 5 min chart is confirming). So, I entered a position short and b... Continue reading ...
Posted by Casey Stubbs on Wednesday, November 18, 2009,
In :
Trade opportunities
The 1.4825 level is an extremely strong support area as that level has been tested five times in recent weeks. The 1.5000 level is a strong resistance that has been tested several times.
Which ever way the pair decides to go since these support and resistance areas are very strong it will probably be a significant indicator as to which way the trend will move for some time. Keep your eyes on these levels and attempt to do range trading until a clear pattern emerges. Range trading can be profi... Continue reading ...
Posted by Casey Stubbs on Monday, November 16, 2009,
In :
Trade opportunities
The head and shoulders pattern I wrote about in the last article never materialized. This currency is in a range because the market can't decide what to do next.
How long does it take to for a currency to be considered in a range? I don't know but I know that the Eur/Usd is in a range now. The was in an upward moving trend that has slowed down to be in a trading range. The pair crossed the 1.4626 level on October 4th and from there the price moved up to 1.5062. The pair has been in between tho... Continue reading ...
Take a look at the following 1 hour chart and notice the downward sloping channel. In this chart I have circled a few good 1 hour sell setups. This setup occurs when a current candle is breaking through and or closes below the low of the last candle. We want to take a short when we see stuff like topping tails, which are seen in the narrow range candle bodies that have wicks to the upside. This shows us that prices have “tested” the range highs... Continue reading ...
In this second article in The Business of Trading, we address other attributes, skills, processes and equipment that you'll need to utilise in your trading business. Trading is a serious endeavour to undertake, treat it with the respect and commitment you would give to any other profitable business.
Equipment
Fortunately, the equipment required to get started in online forex trading is minimal and easily accessible. You can get started with any h... Continue reading ...
Every trader has developed strategies over time based on observations. How many times have we longed or shorted a currency pair, only to see it go against us by 10-20 pips and make us nervous, or doubt the validity of our trade? What if you could strike with precision and maximize your entries and exits to a far greater degree? Patterns in technical analysis repeat and repeat often. It doesn't really matter what ... Continue reading ...
Posted by Casey Stubbs on Tuesday, November 10, 2009,
In :
Trade opportunities
The Eur/Usd is in a period where the 1.5000 resistance level has been broken today. The entire world is betting against the Dollar right now. I have not read one positive thing on the Dollar. If there is any good news for the Dollar post the link here I would like to read about it. So with the fundamentals and technical data all pointing to a Dollar fall what do you think would be the way to trade? It appears that the Eur/Usd will be moving upwards but lets not trade until we get signals.
It's okay if you need a minute to wrap your brain around that. I did. The first time I heard that saying it really made me think. I'm no grammatical scholar but anybody with even a basic education can tell you that sentence would not help anybody pass their classes. Even so, I filed it away in the back of my mind in case it came in handy later and I can promise you this: it did.
Looking to make money from forex trading? That's the aim for most of us and at first, it looks like such an easy thing to do! It turns out to be not so simple though, and I believe many things need to be addressed in a business-like manner in order to be a truly successful trader. To make money in any business requires skills, experience, knowledge, dedication and hard work - the business of trading is no different.
I know that no one wants to do what the title suggests however, new traders do exactly that everyday. So if you as new trader wants to blow your account go ahead and just do what I speak about in this article. If you don't want to blow your account then make sure that you have enough capital invested when you start trading.
When deciding to open a new brokerage account it is important that you have enough money to trade with and not be under capitalized. I rec... Continue reading ...
Posted by Casey Stubbs on Thursday, November 5, 2009,
In :
Trade opportunities
Triangle breakout trades are great for getting good profits, in a quick time frame. The problem with trading chart patterns is that you have to be there when it happens. Which is no easy task. I can tell you that many times I will be watching the pair and just when I go to do something else, that is when the price will break through and I miss the trade. I hate it when that happens.
So today lets look at a triangle on the Eur/Usd.
4HR chart *not click on the chart to learn about a trading sys... Continue reading ...
I believe one of the biggest mistakes you can make in forex trading is trying things half-heartedly, moving from mentor to mentor, strategy to strategy - always believing there's a better way to do things out there. I believe one of the keys to success is to master a technique or set of techniques, master the markets, master your craft.
This article is partly inspired by a recently recorded interview of Tony Robbins that I listened to last night. He emphasizes the... Continue reading ...
Posted by Casey Stubbs on Wednesday, October 28, 2009,
In :
Trade opportunities
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 ...
Posted by Casey Stubbs on Tuesday, October 27, 2009,
In :
Trade opportunities
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.
Posted by Casey Stubbs on Tuesday, October 20, 2009,
In :
Trade opportunities
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 ...
Posted by Casey Stubbs on Wednesday, October 14, 2009,
In :
Trade opportunities
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 ...
Posted by Casey Stubbs on Tuesday, October 13, 2009,
In :
Trade opportunities
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.
Traders 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 ...
Posted by Casey Stubbs on Saturday, October 10, 2009,
In :
Trade opportunities
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.
First 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:
In 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 ...
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 ...
Before 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 ...
In 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 ...
Posted by Casey Stubbs on Saturday, September 26, 2009,
In :
Trade opportunities
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 ...
Posted by Casey Stubbs on Saturday, September 26, 2009,
In :
Forex Social Media
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 ...
It'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 ...
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 Survey I recently had a survey to my subscribers and they overwhelmingly told me to provide strategies... Continue reading ...
Posted by Casey Stubbs on Saturday, September 19, 2009,
In :
Forex Social Media
This is the first article in a Forex Trading Social Media Series by Casey Stubbs
The 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 ...
Posted by Casey Stubbs on Wednesday, September 16, 2009,
In :
Trade opportunities
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 ...
Posted by Casey Stubbs on Wednesday, September 16, 2009,
In :
Trade opportunities
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.
Posted by Casey Stubbs on Sunday, September 13, 2009,
In :
Trade opportunities
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 Casey Stubbs on Friday, September 11, 2009,
In :
Trade opportunities
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 ...
Posted by Casey Stubbs on Tuesday, September 8, 2009,
In :
Trade opportunities
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 ...
Here'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 ...
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.
--Casey
This 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
Posted by Casey Stubbs on Thursday, September 3, 2009,
In :
Trading Strategy
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 ...
The Eur/Usd move 88 pips from market open at 9:00 am until it's peak at 1:00 pm est time. That is not that big of a move today but you could have entered for a short profit. After the pair reversed around the1.4300 area.
We have been experiencing range trading conditions since July 15th when the pair crossed over to 1.4050 since that date the range has been 1.4050 to 1.4450 exactly 400 pip range. Now the pair is not always moving the full 400 pips. There is a smaller tighter range within the 4... Continue reading ...
Continuing on with our Time-based forex trading strategy, today I'm going to cover some goals that I would like the strategy to meet, as well as an overview of the components forming our trading strategy.
Many traders place too much importance on the entry signal or the "setup" for a trading strategy. A complete trading strategy is much more than just an entry signal. While the entry is important, we also need to consider factors such as money management, t... Continue reading ...
Posted by Casey Stubbs on Thursday, August 27, 2009,
In :
Awards
Winners Edge Trading is pleased to announce that we have been selected for membership of Forex Factory News (FFN). This new news team is a new system Forex Factory has put in place and I am honored and pleased that they chose Winners Edge Trading. The FFN is comprised of 11 other Forex news writers. We will continue to work hard to make sure that we are always putting out the best information, to give traders what they need to have success.
In the last article I talked about developing time-based trading strategies and I gave you a few ideas to think about. Sometimes you just need to see or read about a different way of looking at the markets for it to trigger some inspiration, so I hope the article provided some food for thought.
Eager to take up the challenge myself, on the weekend I spent an hour or so going back through the EUR/USD charts looking for possible trade strategies based on time. I'm ... Continue reading ...
Posted by Casey Stubbs on Saturday, August 15, 2009,
In :
Trading Strategy
The trading strategies I have been sharing lately has been quite popular and many have been asking for more so, I am going to share a moving average strategy with a video.
This strategy is from Forex Strategy Secrets Revealed, this excellent website by Edward Revy has many great strategies he shares from this website I just discovered. There is also an excellent charting package available that has a great strategy built in and right now you can get an instant download for free.
Posted by Casey Stubbs on Wednesday, August 12, 2009,
In :
Product Review
Barry let me test his Forex Renewal System so I could do another product review. I admit that I am impressed this strategy is the real deal. I will share the basics but not give any details because then I would be giving the strategy away and I can't do that.
This is a very simple support and resistance strategy that anyone can use. I tested it for two weeks and I was successful every day except for two days and on those days I had a break even trade and one loss for 10 pips.
Posted by Casey Stubbs on Saturday, August 8, 2009,
In :
Featured Currency
This article is in response to Mark Carlon's great Article titled Why the Dollar Will Get Stronger. While Mark had some excellent points I am not going to dispute his points I just want to add some additional points to consider as to why I think we will see continued Dollar weakness. 1. We The People
The problem with the Dollar is the people of the United States of America. Which I am one and while I am not smarter or better than anyone else I understand that our behavior has consequences. As l... Continue reading ...
Friday ended with some bullish price action for the Euro. The previous high was 1.4302 so we should watch that level very closely. We could see some consolidation at this level or the pair could go through the last high off of the momentum on Friday and there could be an upward trend forming.
Either way watch the 1.4302 level because that is the key resistance level to watch on Monday. If the pair goes through the 1.4302 area the target is 1.4386. If the pair pulls back watch the p... Continue reading ...
Posted by Casey Stubbs on Sunday, July 12, 2009,
In :
Trading Strategy
Every time I say that it is not hard to find a winning Forex Strategy I always get comments and emails saying , it is so hard. I am going to prove that a strategy does not have to be complex to be a winner. I will be trading this strategy this week and we will see how it works.
The trick is don't make it too difficult and make sure you follow your trading plan and money management rules. Record everything and analyze results afterwards.
This is called the support and resistance trading strategy... Continue reading ...
The Eur/Usd is has been range trading for a couple of days and that is good for trading as the range has been about 150 pips. That makes it easier to identify the entry and exit points.
Right now the pair is testing the 1.3900 support level and if the pair bounces off that we could see continued range trading. However, I believe that the pair will eventually break to the downside so I am watching the support levels and waiting to get in short for a longer trade.
Last week we saw the Euro make a correction and then push forward making new recent highs. So this could be another exciting week with more gains coming for the euro.
However due to profit taking there could be a correction in the Euro before we see any more gains. The first target level I have on the Euro is 1.4237 then after that is a key resistance level at 1.4363
Support levels for this pair are 1.4050 and 1.3800
Yohay wrote on Forex Crunch in his weekly update that the Dollar will be weak... Continue reading ...
Last night when I posted my trade I was surprised when the Yen took a sharp drop and I got stopped out of my trade. It is not like I am the best trader and that never happens to me but I just wondered why? So I looked at Forex Factory for the news releases and no major impacting negative news was released. So after that I just let it go and went to bed. I figured it must be some major investors moving the price during slow trading hours.
I have many confirming indicators to help me in this trade. This is a forex trading strategy that I learned from a forex class I took a while back and it has been successful for me. The key is to use proper risk management and only risk a 2% stake in your trading account. So if you are trading keep your trades small and that way you will grow your account instead of blowing... Continue reading ...
The Dollar has been gaining strength in early morning trading breaking below the support of 1.2700 and the current position is showing a bear flag and the pair is approaching the support area of 1.2600
This pair is looking to test the lows made ealier this month and we might possiblly see which direction the pair is going to be headed. If the low support levels don't get broken we could possibly continue the range trading conditions which we... Continue reading ...
The Eur/Usd currency pair has been in a range trade from the very significant levels of 1.3000 to 1.2500. The market is unsure of which way to go given all of the bad economic news all over the world. As a result we have just been going back and forth until momentum begins to move one way or another. I cannot say what is going to happen as the economic world is uncertain right now and seems to become more so everyday.
The Euro lost value in today's trading as investors bought the Dollar because of profit taking off of Fridays gains for the Euro.
The pair is currently testing the key support level of 1.2700 if the pair bounces of that level we could see further gains. Or if the pair goes through that level. We could see a downside target of 1.2550 again. Watch those levels then look for entries to find good trades.
Posted by Casey Sheldon on Monday, February 16, 2009,
In :
Trade opportunities
Monday- Feb, 16 2009 3:00 pm Est
Light activity in todays trading because of the U.S. holiday resulted on little movement in the pair in todays trading. We can see the wedge that has formed which usually indicates that the pair will break lower. Right now as I right this the pair is at 1.2767 moving downward to the support level of 1.2700. Watch this level, this has been a strong support and a break of this level could lead the pair to the 1.2500 support level. Also watch for abounce off of ... Continue reading ...
The Asian Session had a large run for the Euro Vs. the Dollar. The start of the Asian trading session had the Euro testing the 1.2700 support but when the price got near that level the Euro turned quickly gaining strength and about 150 pips to challenge the 1.2950 resistance level.
The pair has not been trending but trading in a range for 9 days. The large amount of economic data has not been able to move this pair out of the ra...
This pair has been trading in a range for 9 days. Now this is called a sideways channel trade setup. In the image below we have a range that is between 1.3091 and 1.2704 that is a 300 pip range that while the support and resistances are holding you can range trade this to make good profits. Also, the is the big trade to watch, when the price breaks through the support or resistance than we could have some good momentum t... Continue reading ...
The Eur/Usd Pair repeated yesterdays activity almost exactly by running up to the resistance level of 1.3050 forming a double top in the two days trading. In the past two days the trading of this pair has been range trading as the range has been from 1.2700 to 1.3050. This range makes for good range trading strategies such as an RSI strategy or a Stochasitics strategy. The market can't seem to make up it's mind about which ...
Posted by Casey Sheldon on Monday, February 9, 2009,
In :
Trade opportunities
The Euro has past the downward trend wall and the key resistance level of 1.3072. This break out could be a signal for more gains verses the dollar if the pair can hold that level the next target price for the pair is 1.3181.
Posted by Casey Sheldon on Saturday, February 7, 2009,
In :
Trade opportunities
Saturday February, 7 2009 2:37 PM EST. The Euro ended the week up for the first time in 5 weeks. Will that continue for the week ahead? It depends on several factors. The first factor to consider is the support and resistance levels that have been previously maintained. Last week the price bottomed out at 1.2700 which is going to be a key level of support next week. In Fridays Trading the pair attempted to close above 1.3000 but as soon as the price hit the 1.3000 resistance level the pair b...
Posted by Casey Sheldon on Friday, February 6, 2009,
In :
Trade opportunities
The market has been moving sideways as mixed economic data has been released this week. Todays trading moved the euro lower versus the dollar as key support levels were surpassed. The price still has yet breakout which would give us a clear indicator which way the price will be moving. The first level to watch will be the 1.2726 level if the price drops below that we have a target of 1.2672 If that is broken we could see 1.2500. So in your trading be watching these levels as they are good si... Continue reading ...
Posted by Casey Sheldon on Tuesday, February 3, 2009,
In :
Trade opportunities
Eur/Usd Stalling Waiting for News
The price on the Eur/Usd In early morning trading has been in a tight trading range. A possiblity for this is that traders are waiting for the pending homes sales news announcement at 10:00 am Eastern time. The expected result is 0.0% change which with all the contraction as of late that number would actually be good news. Traders should watch the news announcement and if that number comes out at no change or better. I would excpect to see the euro gain s...
I opened 3 lots long after the price hand been going up from the bottom on a 4hr chart. I entered on the moving average crossover of a 10 ema and a 25 ema on the 1 hr chart.
open at 1.2796
1st lot sold at +55 pips 2nd lot sold at +100 pips 3rd lot still open
Today's total +155 pips with one lot still open.
Tomorrow's Trading Opportunity The PMI news that came out in the US was negative again. That was no surprise, this up move wa...
Posted by Casey Sheldon on Tuesday, January 27, 2009,
In :
Trade opportunities
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
Posted by Casey Sheldon on Friday, January 23, 2009,
In :
Trade opportunities
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.
Posted by Casey Sheldon on Thursday, January 22, 2009,
In :
Trade opportunities
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 ...
Posted by Casey Sheldon on Friday, January 9, 2009,
In :
Trade opportunities
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.
Posted by Casey Sheldon on Wednesday, January 7, 2009,
In :
Trade opportunities
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
Posted by Casey Sheldon on Tuesday, January 6, 2009,
In :
Trade opportunities
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.
Posted by Casey Sheldon on Saturday, January 3, 2009,
In :
Trade opportunities
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.
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.
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Winners Edge Trading. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
I am a man of vision, I like looking forward and moving forward towards our purpose ,which is to help traders make money. However it is important to look back and evaluate what has taken place. We do this to find what works and what doesn't. My Friend Yohay from Forex Crunch did a 
And 
This Guy Just Lost His Account :(
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.
Barry let me test his
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.
