Its been a while since the last time we had a word ha?
By the way… I really appreciate your emails, Its good to know that quite a few people read and use my analysis to take trade decisions… So I’ve got a surprise for you… they are back!!!
So how is it going? How is your trading going in the last couple of months?
Please let me know in the comment section.
I’m USD Bullish
If you have been following me for a while you know I’m a pure technician…
Here are the currency pairs I think have the most profit potential today…
Let me know if you have any question!
Hey traders, some of my students have a very specific goal in 2016: Trade Full time…
See how they are doing in this video plus a few signals and trade opportunities for the rest of the week:
Please comment if you have any question.
Here is the video of todays trading & analysis session.
There are plenty of opportunities right now…
Hey Traders, hope eveything is going well…
Here is todays complete analysis, including 3 short term signals + updates to the trades we took yesterday.
Share your thoughts.
Hey traders… how is it going?
There are two possible things that we need to analyze when testing one system:
- Accuracy of the system
- The risk reward ratio
A lot of traders “try” to focus on the accuracy of the system. I get a bunch of emails asking me about how many times my system is right, etc.
But let me tell you one little secret traders… We have no control over the accuracy of the system, its given data.
As much as we dont like that statement… its true.
Hey traders! How is everything?
You know every morning I scan the markets and look for the currencies that have:
- Clear swings
- Clear S&R levels
- And a good profit potential
One of them is the EURCAD…
Here is my analysis…
EURCAD Long Term Analysis
The first thing that you should do is look at the daily or weekly chart and see if it is more likely to move up or down.
In this case, its clear that it is likely to continue its way down, see it for yourself:
Traders, hope everything is going well on your end…
I believe that the best piece of advice a trader could get is this:
Stop trading just for the sake of trading.
You need to trade the ones that have the most profit potential, the ones that have the clearest swings, the ones where you can easily identify support & resistance levels, those are the trades that are really worth it.
Those are the type of trades that makes the difference between a trader that is still struggling to get results and a trader that is on its way to consistency.
You don’t have to spend countless hours doing your analysis, just a few minutes (even seconds) is enough to determine whether its worth it to trade any instrument or not.
So please do yourself a favor, and stop trading the same currency pairs every day… find the ones you feel most comfortable with…
Does it makes sense?
Let me know your thought about this…
Anyway, I’ll feel definitely comfortable trading any of these currencies:
As I said yesterday traders… we always need to trade smart… specially this week with the FOMC rate statement tomorrow…
What do I mean by trading smart?
- Trade the currency pairs or instruments that have the greatest profit potential
- Trade only when you have a clear market condition
- Trade only when you have clear support and resistance levels
- See other things that you could get advantage of (like rollover)
Follow this guidelines and you’ll be on your way to consistent profits…
Now… remember you need to have at least 80 pips on your favor to hold your trades before tomorrows announcement, otherwise just close them alright?
So here is my plan to trade the currency pair with the most profit potential right now…
Hope your weekend was nice and relaxing because the market are going get a little crazy this week…
There are a ton of important announcements this week, but the most important of them all is the FOMC rate statement…
Will they rise the interest rate?
Nobody knows for sure (but Yellen and her team)… Some analysts say the will, some others say they will wait until December…
I tell the students of my Forex Course that we need to be extremely smart about the way we trade this week. We need to make sure to trade only the currency pairs that have the clearest market conditions… we need to make sure, both, the short term chart and long term charts have clear S&R levels, we need to make sure they have a good profit potential, among other things…
Anyway… lets talk about the EURUSD