The Sad Facts on Trading - page 2

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Hi

I will be away for the next few days taking care of some personal business!

This means there will be no alerts, trades or reports until Tuesday 28th September.

It's a good time for you to take a long weekend and recharge your batteries for a profitable and exciting trading week next week!

Here is the first of a series of 6 videos explaining how candles work to be continued next week

Take care

 

We have two video's for you today - 1st our daily Forex Trading report

Please click here for our Youtube Forex Daily report - 1 October

and second the 3rd part of our Forex Candles enplination

Please click here for our Youtube Forex Candles part 3

Regards

Chris

 

EUR/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.3734

Key G7 support levels: 1.3950, 1.3870, 1.3830/00

Counter-trend and scalping opportunities: 1.4050

Strategy: Whilst above the weekly trend reversal level buy dips to support levels after an entry signal.

Today's trade suggestion: Another “flip flop” week, stuck in the range between 1.4100 and 1.3700. The weekly chart is just about bulling, but the doji candle suggests we could go either way this week, just like the past two. Key support levels are listed above. Key resistance levels lie at 1.4000 (the 786 ib) and 1.4080 (the range top) We will consider trading in either direction this week, as long as we remain below 1.4100. Look for opportunities to buy and sell after a clear G7 reversal signal. Don’t be tempted to pick a direction and commit to it, being especially careful to stick to sto

Update 3 November: Back up to the top of the range and trading inside a newly formed hourly channel (see chart) Frankly this is getting boring, so be prepared for a big move when traders become complacent. We are short from the 1.4050 area

(range top, 786 Fib and channel top) after a G7 signal, and we’ll have to see how it plays out. Be alert for opportunities in either direction

Summary: Continue to trade the range: Look to sell into rallies to 1.4000 or 1.4080, or buy into dips to supports between 1.3950 and 1.3830.

 

Hi Guys, before I share my thoughts with you I would like to take this opportunity to sincerely wish you a brilliant 2011.

Just remember this!

We cannot control the outcome of everything that happens to us, but we sure can control our attitude, and thereby, our actual 'moods and emotions', which indirectly, affect and influence the 'experience' we gain in the end.

So take control of the 2011 experience right now!

It looks like 2011 may be another difficult year, but start ahead of the game by accepting that you can only control the manner in which you choose to tackle the year ahead, and no more. So stop stressing about matters that you have no control over.

However, 2011 may well surprise you, and turn out to be the best year ever - there is always this reality - so accept that as a possibility, and ensure you do whatever it takes to maximise whatever opportunities come your way this year.

So,

What New Idea's do I have lined up for you?

Well at this stage I have quite a few, and I will work through them over the next week or two and share the outcome with you. For now though, I have this idea.

I get so many emails every day from traders needing help. I spend a lot of time and effort in writing back and doing what I can to assist them. The reality is though that the questions they pose to me are probably the same ones running through your head as well.

So I am going to begin posting some of these emails and I would appreciate your feedback please.

So let me know what you think so I can make the right decision and not add to your clutter but hopefully add to your experience instead.

All the best,

Chris.

P.S. I will post the first email as a tester later today.

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