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Posts Tagged ‘trading’

Members – Trading and Analysis Session 22 Apr 15

In this session we look for trade opportunities and analyze a few of the clearest currency pairs to trade right now.

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What doing an Ironman taught me about trading

Hey traders, I hope everything is going well!

Last Sunday I did an Ironman 70.3 … and let me tell you, it was one of the most unique experiences I’ve ever had in my life.

Just take a look at this picture:

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How satisfied do I look?

For those of you that don’t know, an Ironman 70.3 is a: 1.9km swim + 90kms Bike + 21.2kms run, one after the other.

I completed it in 6:46 hrs (more than expected, but based on the circumstances, I guess it was alright).

I have mixed feelings about it, I physically suffered like no other day in my life (that I can recall), but I also was very satisfied when I crossed the line.

So here is how it went.

Here is how to trade the Non-farm Payrolls report (NFP)

Non farm Payrolls report

Hey trader!

Are you planning to trade the NFP tomorrow?

Well, you are at the right article… because I’m going to show you exactly what you need to do with your trading during the NFP report…

If you intend to trade the NFP for a quick gain

This is also true for any other fundamental release… If you keep trying to get a quick gain here and there during any fundamental release… your trading career will end pretty soon.

Here is how to trade the EURUSD (and others) right now

euro

Hey trader, hope everything is going well!!!

How is your trading going so far this week?

By the way, did you take the GBPAUD signal that I sent you on Tuesday?

I’ve been following the GBPAUD in the last weeks and in my last article, I published a signal:

Stop entry: 1.9692, SL 1.9635 and TP 2.0190

Did you take it?

If you did, you have almost 300 pips on your favor, you need to hold it a bit longer so it reaches our TP order, which is around 200 pips from where the market is currently trading at.

200 pips might seem like a lot, but its not the case in the GBPAUD, it could move a few hundred pips in just a few hours, so you got to be patient ok?

Why do you trade?

Forex Goals

I was about to call it a week… but something came to my mind.

Sometimes putting things into perspective can help you see them from another angle. So I thought about an important question than can help you get better results…

Why do you trade?

Don’t answer because you want to make more money, because that’s not the correct answer.

Actually, you want to make more money because __________________

You need to fill in the line…

The reasons are different from trader to trader, some of them might be:

What is the most difficult thing about trading successfully?

There are many things that make trading a difficult task (this should read “trading successfully”, because anyone could trade, no previous experience is necessary, you just need to know how to click one simple buy or sell button). Just to name a few:

You need a sound strategy. You need to find and edge, you need a set a rules that identify low risk trade opportunities, you can use technical indicators, Fibonacci, Elliot waves, price action, or whatever fits you and makes you feel comfortable.

Discipline. Our main goal as traders is to trade consistently, we are not looking for unexpected or random gains (aka outguessing our system), and the only way to get them is by following our system to a 100%, period. 

Are you also looking for shorts on EURAUD?

Later today the employment report of AUD will be released and tomorrow we have two interest rates announcements, for the EUR and GBP, but even when the EURAUD is related to both of them, I think we have enough time to let the market move on our favor, and then be able to move the SL close to the breakeven level so that we can leave our trade open during those announcements.

Here is the 30M chart:

As long as the EURAUD keeps trading below the ST resistance level 1.3264 I will be looking for short opportunities. Notice also it is trading below every important level on the short term charts.

Trade Safe!

Raul Lopez
Forex Course