Recent Articles
Sung’s First Profitable Month
Today I want to share the story of Sung C. from California. Sung approached me about six months ago looking for a mentor, and he is one of the few people I’ve agreed to work with one-on-one. Occasionally I agree to mentor people one-on-one if I believe they have the commitment it takes to become [...]
Technical Tuesday: AUD/USD Is Clobbered
In Sunday’s Game Plan I was looking for an AUD/USD long anticipating the Royal Bank of Austrailia (RBA) would raise their interest rate. Often news trades happen the day prior as traders attempt to price in their expectations. I got long at $.8790 along demand, and I bailed out just prior to the rate statement [...]
Sunday Game Plan, USD/SGD In Play
Howdy Traders!
There will be no video this week, I’ve been on the road and unusually busy, but I’ll resume my weekly trading videos next week. This week I’m starting a new column called the “Sunday Game Plan”. This weekly post will highlight trading opportunities I see for the week ahead, and what is on my [...]
Weekly Trading Video: Daily Resistance and Intraday Price Action
Trading has been relatively quite ahead of the FOMC rate statement on Wednesday. I missed some decent GBP moves today, but managed to scalp the $1.06 USD/CAD round number. Total take for today’s trading was 31.2 pips, nothing too exciting but a profit is a profit. There is nothing on the long term horizon that [...]
Weekly Trading Video, CFTC Regs and Bargain Days
Howdy Traders,
This week’s video deals with a losing trade, the CFTC’s proposed regulations, and combining technical reasons to trade with fundamental reasons to trade. I hope your having a fantastic weekend, and best of luck next week!
CFTC Proposes Unpopular Regulations on Retail FOREX Transactions
Earlier this week the United States Commodity Futures Trading Commission (CFTC) proposed several new, and highly unpopular regulations aimed at off-exchange retail FOREX transactions. The proposed regulations are “important steps in implementing the additional consumer protections authorized in the 2008 Farm Bill” according to CFTC Chairman Gary Gensler. The off-exchange retail currency market, or FOREX [...]
CAD/JPY Slips into Bargain Hunting Territory
Canadian loonie lost ground against the United States dollar and Japenese Yen today following mixed fundamental data, and a drop in oil. The market consumed data from Canada’s housing sector as well as the Bank of Canada’s Business Outlook Survey, which is released quarterly. The fundamental data was mixed and speculation over Canada’s economy recovery [...]
Weekly Trading Video, Placing Stops
Stop losses are an effective tool for managing risk, but placing stops incorrectly may take you out of a good trade too early. Stop losses should protect your account from risk, but only when your trade idea is truly broken by price action. Additionally, traders often assume, larger time frames require large stop losses which [...]
Trading Resolutions for 2010
Today is the last day of 2009! I’d like to close out this year of blogging with a handful of trading resolutions I’ve made for 2010. New Year resolutions without context or a plan are little more than wishful thinking. I like to begin with a retrospective look at the prior year to determine what [...]
Dollar Ending 2009 With a Bang
The United States Dollar Index monthly chart is the most interesting chart I’ve looked at today. The dollar has successfully beaten up most major currencies in December, and appears to be ending 2009 with a solid bull pattern along demand established in 2008. The market appears to be content betting on an accelerated recovery in [...]
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