Yep, That’s right my friends, Summer is officially over and the thin markets are about to return to full blast trading.
It’s been a slow Summer tradingwise, trading only scheduled news events and even though I made some good money, it wasn’t easy with the low volumes and markets reacting in weird and wonderful ways. The equity markets showed some serious weakness and once again the ‘double dip’ forecasters were out in force. Gold is approaching a 52 week high while silver is close to breaking $19, and with potential for continued risk aversion we may see a breakout soon.
Still best to wait for a direction following the Non farm Payrolls due out this coming Friday, so until then some minor tradeable news announcements and my usual Forex trading methods.

<== This is the software I use for news trades, it’s very expensive but makes up for about 30% of my monthly profits.

As some of you know I’m also involved in some Network Marketing now and I find that it complements my trading nicely, in fact this Summer I’ve had plenty of time to add new programs and add income streams, so all in all, the slow trading was a good thing.

Anyway, will write new posts as the trading season gets going, in the meantime enjoy the last of the warmth and preparte for a profitable fall and winter.

To Your Mega Success,

YOURS FREE! The MTF Trading Method… an Unconventional Forex System that Works Like Crazy… Click HERE

Getting you there fast

Tel. +44 7898 976 113

Chat Skype: mark_london1

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This is a video of an automated news trade made with the ‘Fast Economic News’ software ‘Secret News Weapon‘. One of dozens of trades I’ve been taking for years, and overall contribute about 30% of my monthly profits.  This is the only form of semi auto trading that I use, no robots and no other nonsense.

There is no beating around the bush, no speculative entries and such. It’s simple like today’s UK GDP figures, the expected Month on month was 0.6 and came out 1.1, what do you think will happen? pretty obvious no? With just one trade I cover 5 monthly subscription and there are between 30-60 viable trades a month, do the maths. Note that this video is only 1 broker and that this trade was made on 2 other brokers on a different machine as video slows the machine down.

Anyway watch the video, it’s short. I took off 60% of the trade for 50 pips profit within a few seconds, and the rest was left in for 90 pips profit. If you like the video tweet this, if you want to try the software for a month click here.

Click the Image below to get this wonder

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Getting you there fast

Tel. +44 7898 976 113

Chat Skype: mark_london1

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Having hit a low of 1.1870, the Euro has climbed it’s way out of the black hole, steadily and with immense gusto. It’s now in it’s 7th week of steady rises, gone are the worries about the PIIGS (Portugal, Ireland, Italy, Greece and Spain). Europe as Europhiles see it, is on the mend and the Euro is being pushed up at a dizzy pace. Right now it is stalling at the 61.8% Fibonacci retracement of the great and fast fall from 1.3680 area to the 1.1870 area. The 61.8% area is at 1.30 and if this barrier is broken, next support is at the 200 MA around 1.32, and a penetration of that takes us to 1.3250 which is the 76.4% retracement.
Fundamentally, US figures continue to disappoint with equities also swinging crazily in thin summer trading. It will therefore be interesting to see if the Euro can reach 1.32 and if it does if it continues to new highs. A lot will depend on news flow from Europe, although right now it seems like Euro love is back big time.

Should the Euro fail here, then a revisit of the lows is not only possible, but will provide further impetus to a move down to parity. With summer trading and thin volumes, this market is best traded with caution.

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Do you think there is any forex market manipulation?

Consider the following scenario, you represent a major US corporation and you are about to buy a UK based manufacturing company (LOL)  to add to your portfolio. You will need £400,000,000 to complete the transaction and of course you want the best rate possible when you execute the transaction. The GPB/USD is trading at 1.5161 and you would like to buy GBP at 1.5050 average. You call your friendly bank and instruct them to by £400,000,000 at an average rate of 1.5050. Now this represents substantial commission for the banker and a great opportunity to make some extra dosh (mullah, money, dough etc).

So, here is what our friendly banker does, he sees that GBP is trading at 1.5161, he knows that he has a solid buyer at circa 1.5050, so he chooses his moment and starts shorting GBP/USD, as he is shorting at a decent pivot, Fib or resistance point, he is joined in by others. Others who follow him as he is now the axe. Our banker sees that it’s working and he shorts more, the GBP continues to drop, he trades in and out with a net increase in shorts until the price has dropped to 1.5050, he continues shorting and the price drops to a known support level, say at 1.5010, now he starts buying for you, your £400,000,000, step by step and manages to get you in at an average price of 1.5042. You are happy as Larry, the banker is happy as Larry, you got a good price and he made commission and 140 pips profit, easy money.

Now, if you knew there was a massive buyer at a certain level and that buyer had to have the money on a particular date, by a particular time, how easy would that make your trading? how to trade forex?

So is there any Forex market manipulation going on? You bet mate. Can you profit from it, yes you can but not without a good idea of M&A details, costs, dates etc.

If you are a full time day trader or even part time serious trader and haven’t yet invested in a decent news platform, now is the time to do it.

Good Day

Mark

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Delphi scalper – Forex scalping system

How to make money trading ?

As my regular readers know, I make a good living scalping the market. My main instrument has always been the Dax, but in recent months I have added the Euro and GBP to scalping methods. My method is somewhat intuitive and although I have written several blog posts and articles about it, it is not easy to explain.

That is why I am pleased that Jason Fielder has put together an easy to understand and easy to use system.  Here below is the overview. You can click here ==> Delphi Scalping Webinar to see the webinar.

Grab 10 – 30 Pips With Precision Accuracy!

Much like the all-knowing, all-seeing oracle from Greek mythology, this “Delphi” is able to predict rapid moves in the Forex market with insanely-high accuracy, while always protecting the downside. Just wait for the “4 Pillars” to align, then pull the trigger, grab your pips and exit like a seasoned trading professional. It’s easy when Delphi is leading you each and every step of the way!
Crystal-Clear Entries, Exit and Stop Losses

Delphi gives you EXACT entries and exits as well as pre-set stop losses on every trade you take, allowing every Delphi owner to take the exact same high probability trades we take. Literally, if you can read red and green arrows and learn a few simple rules, you can learn to scalp with Delphi in a matter of minutes. GONE is the subjectivity and second guessing that is the #1 reason most traders fail!
“Opportunity Windows” Tell You When To Trade

When you’re scalping, there are good times to trade and there are BAD times to trade. We’ve already figured out the most profitable trading times, so all you need to do is wait for for the proprietary blue “Opportunity Window” to appear and you’ll know it’s safe to pull the trigger! No more questions…no second-guessing…if you’re inside the blue “window”, you have a License To Scalp!
Select Your Mode: EASY or ADVANCED?

When we say Delphi is built for both beginner and advanced traders, we mean it! In fact, we actually let you select whether you want to trade in an “EASY” mode or an “ADVANCED” mode. The ADVANCED mode offers increased precision and customization, and the EASY mode removes 100% of the subjectivity and tells you EXACTLY how to trade.

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Forex Daily Ranges

As those who read this blog know, one of my main trading methods is selling resistance and buying support. This is usually based on the Pivot points, price congestion, Fibonacci numbers and trend lines. Particularly as these converge and form an area where all are true.
I’ve never really discussed the use of daily currency range, as I’ve always used it sub consciously but never really paid much attention to it.

The idea is that currencies trade in pretty similar ranges every day. They will move move from the top to the bottom or the other way round and one can take some low risk trades based on the ranges. The reason I say they are low risk, is that if a currency starts moving out of it’s average range, then our trade is longer valid and we can get out fast. Basically, a counter trend trade is taken when the range is hit, it’s always best to try and get it when it coincides with another important price (Pivots, Supports, Fibs etc), however it is not critical to this currency ranges method.

Let’s take a look at GBP/USD on 04/15/2010. The average range for GBP has been around 130 pips recently, and it is natural for the Pound to make that round trip almost every day. (You can add an ATR (7) or longer if you wish to the daily chart and work out the daily range for yourself, as it keeps changing depending on volatility.)   At 06:45 GMT GBP was at 1.5520 and 10:00 GMT spiked down to 1.5384, that covers 136 pips, just about the daily range for the currency. At that point you could have taken a long GBP position with say 15 pips stop, as any move beyond that would break the range and we are outside of familiar price patterns. My target profits would be at 38.2 50 and 76.4 Fibonacci points and I would exit in thirds. (This is a trade I took yesterday btw). So take a look at the chart below and see how it panned out. This is a very low risk strategy and one that can be applied every day. I would add though, that it is best to time the entry when volumes are normal and not during thin volume periods. (See article about timing and time Here). If you join my Facebook page, I usually call these trades when I make them, Facebook Page Here.

trading ranges for GBP

Delphi Scalping method

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Forex Trading – what’s happening?

hello my friends,

With the long Easter weekend coinciding with the Non Farm Payroll announcement, trading has been pretty tough for those of us who stayed behind trading. However, as we had all sorts of events planned in and around home I took some trades and covered the weekend nicely. The NFP figures were good and equities reacted favorably to the news. In a deviation from the usual sell the USD on good news, the beleaguered Euro took a nice tumble making me a solid 60 pips with almost no risk whatsoever.

Helped by the fact that the Euro is on a serious bend with SNB intervening as best it can to steady the Swissie against it (see the charts for some extremely unusual spikes – see on 04/01 at 15:45 GMT a spike on Euro/Chf from 1.4141 to 1.4404 closing at 1.4326). It is not easy to get these spikes, unless you are glued to your news provider and act mega fast.

My personal view is that the Euro is way past it’s sell by date and I wouldn’t be surprised to see it moving to parity and below with the USD. Let’s face it, Europe is still in the doldrums, the PIIGS cannot fly contrary to popular belief, so with the Euro, it’s simply a case of selling it every time it retraces and rears it’s tired head. The Euro does tend to recover during the US session for some reason (old love maybe), so I tend to set limit sell orders during the Asian session, when of late it has been getting a good kicking. Always nice to wake up to 50-100 pips profit. With these trades I only risk 20 pips, or 0.5% of my account and set the 1st target at 40 pips and move the stop to breakeven, these have been pretty good trades in the last few weeks.

The GBP is also in a bit of pickle, with elections due in a month and the polls showing a potential for a hung parliament (i.e. no overall majority requiring the parties to form a coalition by doing some horse trading, and compromising their promises, lol). Overall the GBP is way oversold in my opinion, yes, the UK has had banking crises, bad management and a pseudo socialist government, but the bottom line is that banking will continue in the UK, and the UK will continue to act as bridge between the US and Europe. In any event, I am trading the GBP technically and around news events only, as it is ‘the beast’ and can jump around like a cat on a hot tin roof.

The Aussie is a currency I do like and with the Aussie economy doing reasonably well and interest rates on the rise, it’s often a good buy with the general trend and following benign or good news. Taking a long Aussie against the Euro can be pretty useful too.

US ISM figures have also been favorable, resulting in positive moves for equities and once again a buying of the USD, particularly against the weak Euro, Risk and Euro seem to be having a relationship crisis, and as Traders, we offer the best possible counseling… lol.

Just heard that many Greek investors are pulling their money out of Greek banks in fear of IMF imposed conditions and a generally unstable environment,  I know I would and this can certainly not be good for the good old Euro.

As far as scalping is concerned, I have now limited it to around news events as the markets tend to consolidate and chop around and I have better things to do than keep an eye on a small position. Retracement scalps off news events (CPI, housing, GDP etc) have been pretty easy and with momentum it is possible to enter a bigger position, pick up a few points and head off, more rewarding and less tedious.

That me for today, feel free to comment or drop me an email.

Have a good day, be good boys and girls and check the video I put on my meditation blog, it’s pretty cool ==> Cool Video

PS – I’ve had some problems with my RSS feeds and some articles made their way into this blog, that shouldn’t have. Problem is now fixed.

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My observation is that most day traders buy and sell with market orders.  This strategy tells your broker or platform to buy when you execute an order as soon as you hit the enter button on your computer and buy immediately at whatever price the market is trading.   I want to qualify this before getting too far down the road, I trade in a scalping style and run reasonably tight stops and try to let my winners run.  Of course, who does not try to let their winners run?  Many people, believe it or not, especially if they are to heavy on the number of contracts they are trading relative to their futures account balance, trade not to lose, as oppose to maximizing their profit potential.  They are fearful, and trade defensively.  It’s not unusual to see a fearful trader trade the ES contract and bail at one point, even though the market is signaling there is good potential for the trade to continue in the direction of the trade.  They just want out before something bad happens.  Needless to say, trading in a fearful condition is not an enjoyable experience and makes for a long day.

Let’s take a moment and talk a little about a strategy for entering trades.  We will assume you have identified a potential trade to the short side and are ready to take that trade.  Instead of putting a straight market order in place and buy at whatever the market is trading at when your order is filled, why not set your short entry several ticks above the current market price and let the market come to you?  Granted, you run the risk of missing out on the trade if the price dive bombs straight down, but that is a rare occurrence.  Even in a trending market, the price tends to bounce around and you are likely to get filled at your buy order above the market price.  You just saved yourself a half point.  You can look at your Average True Range Indicator to see how the range of the market has been and base your entry, to a certain degree, in a manner within the range.  In dead flat markets, though, this may not be such a good strategy.  Then again, I am not very excited about trading flat and choppy markets anyway.

Now let’s talk a bit about scaling out of a trade.  If you have read any of my articles you know that I usually have a specific profit target in mind and a specific stop loss point.  In this example I am going to trade 3 contracts and my profit target 15 ticks on the ES Emini contract.  On a trade like this one I will generally scale out of the trade.  A good trading platform will allow you to set specific strategies for selling at different prices.  I use Ninja trader, and I can preset my exit strategy as follows:  I am going to sell 2 of the contracts at 10 ticks profit and 1 contract at the 15 tick profit target I had in mind.  You can use any variation of selling strategies you feel comfortable with and most good trading platforms allow up to 3, sometimes 4, separate levels to scale out of your trade.  You can preset these strategies and name them in a manner which will allow you to choose which one you are going to use simply by clicking on the strategy you will employ.  For example, this strategy on my platform I named 3×10x15.  It’s my own nomenclature, but I know this means 3 contract with exits at 10 and 15 ticks.  I generally exit a larger portion of my contract on the first exit to lock in a nice profit and let the last contract run.  I can even move the stop on the single contract if I see a market start a sharp move in the direction I am trading.

One of the maxims I live by is to never let a winning trade become a losing trade, and scaling out of a contract is an excellent way to assure you lock in a nice profit while allowing yourself the latitude to let a contract run.  Needless to say. there are an endless number of potential scaled exits you may employ.  In my trading, and I cannot fully explain why, I tend to trade an odd number of contracts and lock in the majority of my contracts at the first exit point, then manage the remainder of the contracts as the trade develops.

Entering a trade in the proper fashion and scaling out of the trade is an idea you may wish to employ in your trading, especially if you are trading out of fear.  (on the other hand, if you are trading overly fearful, it might be wise to take a break from trading and regroup)

On single contract trades I generally just bracket trade, as no scaling is possible with a single contract.  Try buying at the price you want with the method above and scaling out of a trade and see if it doesn’t prove to be a profitable strategy for you to employ.  It does give you a bit more control of the trade, and incrementally lowers the risk in the trade.

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