Hey traders, how is everything?
You know, tomorrow could be a volatile day… the FOMC statement is due tomorrow and it has proven to be the most important fundamental release, at least the one that has the most impact in the market.
So you have to be careful, because the market will go crazy if we get something different from what traders/investors expect.
I follow a simple rule, if my trade doesn’t have more than 80 pips on my favor, I just close it.
You don’t have to break your mind creating complex rules.
Retracement or Breakout Signals?
Which one is better?
The truth is that both of them work… each one of them have their own advantages.
You could set your order on breakout signals and go away… so if you don’t have much time, just use breakout orders.
Retracement signals tend to have a tighter SL.
So I like both of them, I dont have a special preference… As long as the signal is in the direction of the market condition, I take them…
What’s your take?
Ok, now lets take a look at my signal… by the way, it is a retracement signal.
Hey Traders, how was your weekend?
As many of you already know, it was my birthday last Friday… I received a ton of emails and I really appreciate it traders…
And I want to thank you all for that!
Back to trading my friends…
You know what trading is all about right?
What’s it all about?
Its about trading the right instruments at the right time! As I said before, that’s what some traders call “luck”.
Fortunately for us there is a way of finding those traders over and over…
Now, that doesn’t mean that we are going to win all trades, its just about trading with the odds on your favor… if we keep doing the same thing over and over, at the end, we’ll get consistent results.
Ok, now lets take a look at some charts.
Hello traders, how is your week so far?
I have mentioned it before, and I will keep mentioning it because I think it could be the difference between a successful trader and a trader that will keep struggling to get good results.
Trading consistently is about choosing the right instruments to trade, and trading them at the right time.
That’s how some traders define as luck. But I’ve seen a pattern here, the more I do my analysis and make sure I trade at the right time, the luckier I get.
And it makes perfect sense, if you trade a currency pair because it has clear swings, clear levels, a good profit potential, most of the time, the market will move on your favor.
What we’ve got to do now is just repeat: Analyze – Determine which ones to trade – Trade
That’s it traders! That’s how the job is done!
But please don’t tell me that you are trading only one or two currencies, or that you are trading something because of the spread, or because someone else is trading it…
The only reason you should trade any instrument, its because it has both: a clear market condition and a good profit potential…
Does it make sense?
Ok, now here is what happened to my GBPCAD trade
How is everything traders?
Did you take advantage of my article yesterday about GBPCAD new signals? Please let me know.
You know something, we shouldn’t mind about the instruments we are trading…
There are only three things that we should consider when adding new instruments to your list:
- It should have a lot of volume
- It should have a clear market condition
- And a good profit potential
And you are good to go!
Just don’t adventure and trade exotic currency pairs or instruments alright? Make sure you are trading high volume instruments.
I think we need to keep adding instruments, you just need to make sure you get to know them before you actually taking those trades.
What kind of instruments should we consider adding:
Hey traders, hope you had a good start this week…
I’ve been getting a few emails from traders wanting me to update my trading plan for the GBPCAD…
I’m glad plenty of trader were able to take advantage of the GBPCAD…
This is exactly what we got to do every day, look for the best instruments to trade, and focus on them…
Right now we have more possibilities on the GBPCAD, let me show you…
Hey traders, How was your weekend? hope you enjoyed it… did you do something different? Or just relaxed for a few days?
I took some time to relax, because next weekend I’m going to need some spare energy…
Anyway, how was yours?
As every monday, I like to see what are the most important fundamentals of the week… But you know, this week we don’t have a lot of fundamental releases…
Which is good and bad at the same time.
Its bad because sometimes we need this type of volatility to get the market moving faster…
But its good because it will move entirely based on the sentiment of the market.
Regardless of the fundamentals… What we need to do every single day (which is by the way the most important aspect of trading) is to focus in the currency pairs that have both:
- The clearest market conditions
- And the most profit potential
Focus on those two things day in day out, and you’ll be on your way to consistent results.
By the way, here is one of the currency pairs that I feel most comfortable trading with.
Today I want to talk about something very important, something that we have to deal with as profesional traders.
I think that most of us have one goal in common: get consistent results.
Getting there is one of the hardest things to do… and you know why?
Because even when you are doing everything right, the market could still move against you. That’s something that very few traders get to understand.
Lets put this into perspective.
Hey traders, how is it going?
How is your trading week so far?
There is only one day to go, so we need to open a few trades here an there to take advantage of the market.
I have a few possibilities for you, let me know what you think alright?
GBPCAD Long Signal
The GBPCAD is one of the currency pairs that move the most, so when ever you get a signal in the GBPCAD, make sure to take it.
Sometimes you’ll need to use large SL orders, but the risk is well worth it, because it moves pretty fast…
The GBPCAD is trading in a very clear bullish condition, so we should be looking for long opportunities.
Here is what the GBPCAD short term charts looks like:
Looks like Greece finally agreed to the Euro terms… and that’s a good thing traders, I wouldn’t like to see what kind of volatility we’d get if Greece was to move out from the currency…
You know what though… I think it will happen, not right now, but in a year or two, I think they will have to let Greece out of it…
Its been years like this, and somehow they manage to get into trouble over and over again… Maybe next time the other Euro countries wouldn’t be able to deal with it, and they’ll have to let them go…
I’m just speculating here. What do you think?
Anyway, here is a good possibility for you.
Hey traders, how is your trading going so far this week?
What currency pairs are you monitoring/trading?
I dont know about you, but in the last few months I’ve been focusing mostly on crosses. For some reason, the majors haven’t been trading in clear S&R levels…
And that’s something that makes me think twice before getting into a trade. If we don’t have clear S&R levels, then we cant understand what the market is doing, and what it is likely to do.
Just take a look at most majors, open up the long term charts, there are no clear swings, no clear levels…
Now, take a look at some crosses and you’ll get exactly the opposite, clear swings, clear S&R levels, etc.
So, if you have been getting bad results lately, maybe its about time to look at the crosses now.
At the end traders, I believe that what we need to do day in and day out, is to focus in the instruments that have the clearest market conditions… that’s it!
Forget about everything else and try to trade every day only the currency pairs that have clear S&R levels, clear swings, and at the end the probabilities will do its job.
Anyway, here is one of those currency pairs that I believe is trading in a very clear market condition.