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FYI »

[14 Jun 2010 | No Comment | ]

It’s been a mixed week this week. I had two trades that worked out pretty well (on the EUR/GBP and GBP/JPY pairs) and two small losses on the USD/JPY pair just to cancel things out. In the end I’m slightly up on the week but it’s nothing to get excited about.
The GBP/USD and EUR/USD didn’t produce any decent trading opportunities this week. Well actually if I had stuck to the trading rules of my 4 hour system I would have gone short on the EUR/USD pair after the EMAs crossed downwards, …

FYI »

[14 Jun 2010 | No Comment | ]

You may recall that last week I was hoping that the GBP/USD would fall to around 1.52-1.53 before rising again so that the EMAs would cross upwards and we would have a high probability trading set-up. Frustratingly although this scenario played out perfectly this week, it didn’t quite go according to plan.
I actually traded this pair twice. The first time the EMAs crossed upwards was on Tuesday and I went long at 1.5380. Sadly this upward move fizzled out fairly quickly and I was stopped out for a 40 point …

FYI »

[13 Jun 2010 | No Comment | ]

It’s been quite difficult trading my 4 hour trading system lately because technically speaking I should still be going short on the GBP/USD and EUR/USD pairs because the daily Supertrend indicator is still red. However this week I just felt that they were both massively oversold and went long on both of them when the EMAs crossed upwards on the 4 hour chart.
I went long on the GBP/USD pair yesterday afternoon at 1.5020. I then closed half of the position for 50 points and let the other half run. I’m …

FYI »

[13 Jun 2010 | No Comment | ]

Just two trades for me this week (using my main 4 hour trading system) as I’ve been focused mainly on shares this week. I opened two long positions – one on the GBP/USD pair and one on the EUR/USD. As I mentioned last week I should really be going short on these two pairs as per my trading rules, but I still think they’re both massively oversold.
Therefore I’ve been looking to go long when the EMAs cross upwards on the 4 hour chart, and as it turned out the EMAs …

FYI »

[13 Jun 2010 | No Comment | ]

Well it’s the morning of Good Friday so I’m obviously not trading today, but it’s been an excellent week this week. I traded two positions in total using my main 4 hour trading system – one on the GBP/USD pair and one on the EUR/USD pair – and both yielded some excellent profits.
As regular readers will know, I’ve been looking to go long on both the GBP/USD and EUR/USD pairs because although the Supertrend indicator is still red on the daily chart, and therefore indicating a downward trend, I just feel …

FYI »

[13 Jun 2010 | No Comment | ]

It’s been another decent trading week this week with two winning trades out of three. As in previous weeks, I’ve been looking to go long on the GBP/USD and EUR/USD pairs (despite the Supertrend indicator still being red on the daily chart) as I think they are both likely to turn upwards now, and for the most part this has proved to be a profitable strategy.
The losing trade came on the GBP/USD pair earlier in the week. The EMAs crossed upwards on Tuesday afternoon/evening, and I went long after a pull-back …

FYI »

[10 Apr 2010 | No Comment | ]

Bill Poulos has recently posted a video which provides you with a day-by-day analysis of a recent trade that he opened on the USD/CAD pair. It is based on one of the end-of-day trading methods included in his popular Forex Profit Accelerator course.
In this video you can see that his first profit target has already been reached. However more importantly you can see how he manages the second half of the trade. This is the bit that most interests me because you can see that he moves his stop loss to break-even …

Forex Training »

[15 May 2009 | No Comment | ]
Forex Trailing Stops With MT4

The forex trailing stop is a stop that you can set in an expert advisor on the Metatrader 4 platform. It is pretty much what you might guess from the name: a stop loss that moves according to the current prices on the forex market. And a stop loss, of course, is a marker you set that will cause your MT4 expert advisor autopilot software (EA) to exit the trade when it goes against you to prevent you having any risk of a large loss.
But there are several things to …