In a rare event, non-farm payroll data out of the US was released on Tuesday, October 22 due to the prior government shutdown. Non-farm payroll data is usually released on the first Friday of each month, at 8:30 AM EST. Having a strategy for trading the non-farm payroll report should be in every forex trader’s […]
When trading futures, stocks, ETFs or watching indexes–directly or via a binary option–the early morning trades often present the best opportunity. When the market opens orders flood in, creating volatility and profit potential. While I’ve read some trading books that say to avoid trading near the open and close of a market because it is […]
Technical versus fundamental analysis has been a long-standing debate amongst investors, but for day trading or short-term trading technical analysis is the way to go. Technical analysis is the study of price charts and basically any information that can be compiled from them, such as volume analysis, cycles, trends and statistics. Technical analysis is used […]
Sunday evening 15 pip gap up open followed by initial mostly sideways action. The highlighted pinbar doesn’t mean anything to me until the following fade downward, slow reverse & impulsive break of the Tenkan. At that point I see the top of the pinbar as a likely magnet & resistance, and I look for entries […]
The wedge is fairly common pattern, and if you familiar with Elliott Wave analysis a wedge often appears in wave 5–the final stage–of a trend. Rising wedges are bearish and falling wedges are bullish. Depending on trend direction and the angle of the wedge, that could mean there are occasions when a wedge is a […]
Losing trades happen–to everyone–so as long as you follow your strategy, and executed the losing trade according to your plan, that losing trade doesn’t matter. A good trade or bad trade should not be determined on the result of the trade, but on whether you executed your plan correctly. As traders we need to learn […]
Paying attention to price action doesn’t just occur before a trade, price action is also very closely monitored while a trade is underway. We take trades because our strategy indicates to do so based on current market conditions, and a stop loss and profit target are placed to limit risk as well as capitalize on […]
Good Day traders, In this article I am going to say and explain some useful and simple strategies for newbies.If you do your research out there you will find so many strategies which promise fast and sure profit. Their creators describe them as the “holy grail” and many times it needs to subscribe to take […]
Since I don’t usually trade until near the European/US overlap period, before any trades are made each morning I look back to see how the price was acting through the first few hours of the European session. That information helps me decide how I will trade the day. If it is choppy with hard to […]
I am continuing to trade a new forex trading strategy, and was able to get in two trades this morning before switching to another market. I’ll continue to expand on the strategy and provide more details, in addition to what was shared in the Forex Day Trades – October 7 post. When to Trade The […]