Hello everyone,
Bye bye January… glad to see you go!
Indeed, January has been one annoying little month for me. I have only taken five trades (3 winners and 2 losers) for a total of +135 pips which is a rather humble score to be honest. But the problem hasn’t been the results but rather the lack of decent setups and solid trends all month long. Today in fact has been more of the same: barely a couple of setups on my watch list for the day and both getting violated early in the morning so… yet another lazy morning of magazine-browsing and cappuccino-sipping! I sure have been doing tons of that this week hehehe. In fact, I have taken no trade this week at all.
Let’s see if the Forex Gods bless us with some pretty trends in February, ’cause they sure have been rather unfriendly throughout January!
Let me know show you those two setups I have been following today:
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Am I the only one here who cannot find any decent trading setup as of lately? Everywhere I look all the charts look muddy, range-bound and pretty much ugly. My guess is that the market is tight in fear of the more-than-likely 0.50% interest rate cut we will see tomorrow. If the FED finally confirms such move, it’ll be a total of 1.25% cut within a week after last week’s surprise, and that’s probably just too much to handle. Scary stuff, uh?
Quite frankly guys, I have no idea what to expect from the following days…
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Hello folks,
I haven’t updated the blog in the last few days because there’s no setup at this time tickling my interest so I haven’t triggered any trade. All in all, I am seeing a number of trends breaking and reversing so it might be a good idea to let the market re-adjust itself and wait in the sidelines until new trends develop.
I will keep you updated as soon as I spot anything interesting!
-HECTOR-
Today’s been one of those lazy days we all have from time to time. You know the type: there’s no work load to take care of and no matter how busy you try to look it’s all pointless because there really is nothing to do - so you consequently spend your day picking your nose.
Well, I have had one of those days today: none of the four setups I had on my watch list gave me any entry and furthermore I only received a fistful of emails from you guys (I usually receive 20 or 30 per day) so I have been mostly reading the papers all morning long and sorting out the photos I took last weekend.
Let me at least show you the setups I was following today - watch the video below.
PS: yesterday I talked about one poor kid who lost US$ 40,000 in two days on the futures market, remember? You thought that was bad? well, how about if I told you that one “professional” trader at French investment bank Societe Generale has just lost US$ 7.2 BILLIONS?!?! that’s the world’s largest loss by one single man ever! How can someone lose $7.2 billions? I mean, I am not sure whether he should be ashamed or proud of the feat… You can read all about it at this article from BloomBerg.
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Hello everyone,
As I scanned through my charts this morning, I came to realize that the Japanese Yen is the only currency right now showing consistent strength across the board, especially on the 4H charts: USDJPY, CADJPY, NZDJPY, AUDJPY, etc. All of them have their respective SMAs pointing south. Eventually it was GBPJPY the one to give me the entry signal upon a text-book bounce off the Dynamic Area of Resistance, which I was able to ride for +220 and +0 pips, averaging at +110 pips in total.
All in all it’s been a pretty stress-free trade, at least for the first portion of the trade which cruised down to my first exit limit order rather quickly. Unfortunately we formed a double bottom at 204.70 (yesterday’s low) and from there it retraced to entry level where I had my stop loss trailed to breakeven. What I am liking is that if that 204.70 level breaks to the downside tomorrow we might get further shorting opportunities.
We will see tomorrow…
PS: congratulations to David, a folk who enrolled my Forex Trading Course last week and today took his first trade based on my system (it was also this very same GBPJPY setup) for a +225 pip win - Well done mate!
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