40 to 90 Pips a Day

[james]

Hi there Good Morning

Hope you all had a good weekend

Today i am looking at the euro/usd

My Bias today is long for this pair i will look for a possible pull back then a move up to 12265 and then a possible 2nd target of 12290.

There is some euro news out at around 10.00 GMT can move the market so just be aware of that.

Thats it for now will keep it updated if anything changes.

Update on the euro

I was looking for a long trade on this pair today after a pull back but i have been watching this pair up to 10.00AM the bias has changed to the downside for now so i will not be looking for any shorts at this moment today.


Regards

Hi there

Well price did eventually turn and go to target but i didnt take the trade because it was the news for retails sales in the US that caused it the push up

Regards

[james]

Hi There

Risk-Reward-

For New people learning to trade the key to making money is the risk factor and getting the right entry. This is why most systems fail because the risk is to great take Moving average cross over trading by the time you enter the trade it is nearly over so entry has to be key, also what is your risk this is the most important element of taking a trade how many times have you taken a trade in the right direction only to for it to turn back knock you out by 3 pips then go back in the original direction.

This is because the market is very heavily manipulated against you right from day 1.

Who does the market love?

New traders why because the 1^st thing they do is try to find a trading strategy based on indicators because they feel this will give them the edge and its easy, watch this when it crosses over buy. It doesn’t work long term all it does is take your money slowly.

So 1^st how to look at risk and entry

I would say never risk more than 2% of you capital on a trade.

If your new to trading the EUR/USD is a good pair to trade the spread is low around 1 pip normal. I use a 20 pip stop on this pair the market needs moving room and your risk reward should be 1/2 so with a 20 pip stop you would look for 40 pips profit minimum. What this means is unless you can take 40 pips minimum don’t take the trade this will help you to stop over trading. It will teach you only to go for the best set ups and more important patience.

When your new look to take 40 pips per trade no more learn discipline learn how to read the market how to spot a set up and then ride the wave to 40 pips get out.

You will normally have about 2 chances per day to take a trade if your trading 1 pair this will be around the London open and the US open avoid the Asian session altogether if your new. The EUR/USD moves around 70-90 pips a day take this into consideration before entry is there enough room left to make your 40 pips try and avoid trading on Mondays and Friday’s at 1^st markets can be choppy and low volume.

Regards

James

[james]

Hi there James here


So let’s look at the method
The institutions move the markets in levels each week they do this on a weekly and daily basis.

It is these levels I look to trade if we take the EURO/USD this pair moves on AVE 80 pips day and around 240 pips a week after the pair has achieved this it will usually turn the other way over the course of the week.

This gives us quite a lot of info,

If the euro moves 80 pips on Ave a day all we need to do is work out where the start of the move will begin and once this range has been completed it would give us an area to get out.

So what the levels tell us is the high probability area where to get into the trade and maximise for the most profit.

These moves happen over and over again and at certain times of the day.

This is the principle of the method.


Regards

James

[james]

Hi there James here

Today i am looking at the EURO/USD

Bias is long so far going into the London open

I will wait for a pull back then a move up to 12320 area then a possible 2nd target of 12330

The Euro has nealy completed its weekly cycle for this week and most of it has been due to news releases than normal price action so i find this week the pull backs have been a little deeper, there is more news out today during the london session with high level UK news coming out, for the Euro at 10.00am UK time there is the germam ZEW report coming out that can move the market so just beware.

Will update

because both the euro and the pound have possibley made there cycles for the week the last cycle push is very small so i am looking at another push the Alternative to this is a move up to yesterdays highs followed by a move back down.


Regards

[B2Spirit]

James, thanks for this. I spotted both buy (AM) and sell opportunities (PM) using your method. My first order at 1.2270 (6am GMT) did not materialize and expired at 12GMT. The second entry (short) was at 1.2295 and I witnessed the euro plunge an hour or so later for 50 pips

What do you mean when you say that Cable and Fiber have completed their weekly cycles?

[james]

James, thanks for this. I spotted both buy (AM) and sell opportunities (PM) using your method. My first order at 1.2270 (6am GMT) did not materialize and expired at 12GMT. The second entry (short) was at 1.2295 and I witnessed the euro plunge an hour or so later for 50 pips

What do you mean when you say that Cable and Fiber have completed their weekly cycles?

Hi there B2spirit

The pairs move a certain amount of pips in a day and in a week after this there is a change in direction if your free pop into the free room to learn more.


Regards

Jmaes

[james]

Hi there James here

Today i am looking at the EURO/USD

Bias is long so far going into the London open

I will wait for a pull back then a move up to 12320 area then a possible 2nd target of 12330

The Euro has nealy completed its weekly cycle for this week and most of it has been due to news releases than normal price action so i find this week the pull backs have been a little deeper, there is more news out today during the london session with high level UK news coming out, for the Euro at 10.00am UK time there is the germam ZEW report coming out that can move the market so just beware.

Will update

because both the euro and the pound have possibley made there cycles for the week the last cycle push is very small so i am looking at another push the Alternative to this is a move up to yesterdays highs followed by a move back down.


Regards

Hi there James here

Well the alternative move did happen it does look at the time of writing this the euro has finished its cycle to the upside for the week but i will know better in a couple of hours price moved to the high with a setup for a short and moved down of 126 pips

Only problem was we were not in the move.The move did co inside with news that could have moved the market either way so we stayed out. But lets look at the move anyway for entry



So as we can see price made a high on the left hand side and around 10.00 Uk time made a new high with 2 sets of reversal candles this was a classic topping formation and would signal a short marked in green and an exit would have been at a big number or when 80 pips had been reached.

Hope this helps will be back in a couple of hours for the review.


Regards

James

[james]

Hi there Good Morning everyone

Again today i have 2 options for you as 1 of the last criteria was not meet so i need to take this into account again to day.


EUR/USD

I needed to see the euro move up 80-90 pips yesterday on the last move up and it only moved 50 pips so today option 1 would be the euro moves down to around 12255 area form a set up and moves back up to 12330.

or

The cycle is complete all be it shorter than i wanted and price will move down if this is the case option 2 is

price to move up to 12310/12316 form a set up then move down to 12255.


THATS IT FOR NOW

[dudest]

I don't mean to flame but aren't you the same James being talked about here?

Where is james 40 to 100?

[james]

Hi there James here

Here is the trade review for today

I did not take the euro in the end as the GBP/USD gave a clearer entry, but the euro trade did work out as well . the pull back was smaller than normall on both pairs but i did go over this in the room.

So here is the trade the green line is the entry and the red is 1st take profit the purple line is because i stayed in the trade looking for a further move down which did not happen and that is were my stop was so around 30 pip move only in the end.





See you all tomorrow

Regards