On weekly chart, we can see how the down trend line was useful for long position. But this time, it doesn’t look as good as it use to be. But…how ever , we may have some amazing time to buy long, and retest last highs at 100.00 points.
Volume are also quite low, but this may also be due to Futures contract roll over. Is why I prefer to not take them in consideration.
hm…let’s see now on daily chart what we can see…
Daily chart look amazing for long trade right now. As we hit an important resistance at 91-92 points, we also breaking Lower-Low pattern, by creating an pregnant.
This trade are not hard to get it… if we break the Down trend, we are going back to 94$ at first. ( 200 SMA). Once it will hit this level, we should expect some resistance, and then, we will see for next move.
This trade is a very risky one, since you going againt a trend. so make your proper decision carefully, especially if you trade cash!
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Multiple market trade report – trading bi weekly report EURUSD Dollar index Oil trading
The EURUSD trade
Weekly chart shows price failure with the buyers moving in off of bottom closing in a hammer.
Hitting daily resistance, Inverse Head and shoulders could be forming.
Target 1.31 , Breaching trend line on the 1.2930 , Unsupported price 1.2945 to 1.2910
1 hour time frame we looking at a basing pattern breaking above the 50% (1.2960) 0f the pennant and testing the resistant daily trend line.
The Oil Trade
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Calgary, Alberta for immediate release – Calgary Day Trading Course
Calgary Day Traders, Alberta’s largest trading community supporting investors and traders from all backgrounds is inviting veteran trader Joel Wissing back to Calgary to conduct a three day trading course.
To learn more about the trading courses click here. Drayton Cook, the Calgary Day Traders group organizer addressed the press stating – “We have organized this 3-day workshop from September 13 to the 15th with the aim of empowering Calgary traders in the art of trading and risk management. Mr. Joel Wissing will be using high impact learning activities to train the group in risk management, exact systems of entering trades and a full day of live trading on simulators to put everything we have learned to work. This is an amazing opportunity for investors as well as traders because Joel has trained institutional and retail traders for over 12 years. He trains people on refining their psychological edge which is 95% of the trading game.”
What will the Calgary Trading Course be studying?
Futures and major stocks will receive attention in the three day course, making it easier for day traders and stock traders to make decisions. Popular discussions include Apple Computer (AAPL), Google (GOOG), Baidu (BIDU), Visa (V), Exxon (XOM), and Lululemon Athletica inc. (LULU).
Previous participant Keith Bott goes on to say, “Being able to take advantage of trades when the market is going up, sideways or falling is a great advantage, buying and holding is from another generation and having the tools to make it happen will change your game.”
Whether beginner or advanced trader, all interested traders and investors can find out more about this 3-day live training by logging on to the official website of Calgary Day Traders, and be a part of this exclusive weekend trading 3-day workshop from September 13 to September 15 in Calgary, Alberta.
About Calgary Day Traders Calgary Day Traders is a community that has been striving to educate traders about the various facets of trading stocks, futures, and indices. There are over 230 members and growing all the time. Drayton Cook of the Calgary Day Traders can be reached at 866.640.3737 for those interested in joining them for their monthly meetings and this Calgary trading course.
September 13, 2014 9:00 to September 15, 2014 15:30
The Glenmore Inn & Convention Centre 2720 Glenmore Trail SE Calgary, AB T2C 2E6
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Corona, CA – Short term trades to long term profits is one of the Money Maker Edge™ major trade positions.
Writing to you today to understand money management and trading in a low volume summer. Summer time trading can be very volatile. That is “can be” but it mostly has a tendency to consolidate a chop around in a range. The advantage for industry players is that they buy off of almost agreed upon support and sell into resistance. This is called “taking the profit out of the market” , and is aimed at smaller investors and funds where their “Trade flow” is a source of income. What that means is that they will make more money trading than on the profits in a trade, causing the fund to trade literally millions of times a day, to get a “fee” from the exchange.
Short term trading – multiple markets in the summer
For us, Summer is time to use small positions to build in to longer swing positions. So we test the market with very limited risk to get into the market. The goal is to catch a position that will be a long term hold and make a large return. We test and test making trades and trades, most with only a very small loss or small profit as the market “chops” up and down before it get’s direction. Before we catch one of these trades we can sometimes see a 1-3% change in our accounts. Remember this is in a period of 3 to 6 weeks as we are working to get in a longer period swing trade.
Here is an example of a trade on the EURUSD. We held the position for about 6 weeks. The patter took 3 weeks to develop and during this time we had 5 positions which had a total cost of 1.2 penny on the account. One of the trades with a minimum risk and good potential landed and we were able to take this for a 5 penny profit, about a 400% return on risk and a good return to the account.
We are trading multiple markets and searching for short term trades that can turn into swing and long term positions. Our experience is that during the summer months until about the 15th of September we will experience low volumes and extended periods of consolidation. Normally, (which is difficult to say with the present geo political climate) we will see more volume coming into the market and less consolidation from September through December.
It takes patience and the ability to manage your risk and stick to your rules to pull a consistent profit in this market place.
Another trade we are working on is the EURJPY or the Euro Yen trade. The Chart is showing an inverted Head and shoulders. There is a possibility of price breaking through the support so we have to wait for tests on support with weakness in order to catch the reversal to accelerate through the resistance that will give us the trade.
Consolidated entry zone with minimal risk, testing for direction. Looking for direction to play out soon as this consolidated zone moves into a tight squeeze. Sometimes we will have to test 4-6 times to get the swing position. Depends how long the consolidation takes to get the direction.
Summer time trading comes to an end. We are also ready for this next season to start as we can see up to a 5% swing in the account if we have overextended periods of consolidation. Still watching for US dollar strength and some more room on the Euro to correct. Great if you are headed to Europe from the states but can also provide for a choppy market.
We have a few positive positions running as you can see in previous articles. USDDKK in profit, Facebook at risk, USDCHF in profit, AUDUSD in profit, Dollar index in profit. The trades in bold have a preventative stop.
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Last to weeks, after re-working on my trading system and plan… I take those positions. Since it go very well, and I`m still on, I decide to not take anyone this week, and more use my time, to follow carefully those ones.
So far…it look just amazing!
Breaking the triangle pattern. It give me a nice continuation. Testing some tops right now. Should not be a big deal, since we get there with strong momentum.
Looking to hedge soon, to protect my profits, and then take another long position on USDZAR, if everything go well.
One I pairs I really like to trade now. Amazing potential to keep moving down for long time. Already amazing profits on.
We have some resistance also now, but is normal, since it go down so quickly.
I love this pairs….low position on this one, but the potential for a continuation are very good.
After break all time highs, Will see if it will keep go up…or should I take out my position.
This one was interesting to trade. After taking the short position, last week and making few profits on. I saw the Inverted Hand and Shoulds pattern, and decide to take the long one. It did pay off!
Now on USDCAD we also testing a strong resistance, if we break, is a home run for Very long time!
One trade that go extremely well…and I was not expecting that much from it.
How every! we break a strong double tops. What it means, it become a long term trades with lot`s of profits to take from!
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Money Maker Edge is holding a three day live seminar with live trading in Toronto, Canada September 27-29 2014. We will have two days of intense training and one day of live trading with Joel Wissing. The emphasis of the day trading course is to get foundation skills for Mastery, there is 13 weeks of follow up and a live trading room included so you don’t have to trade alone.
What is included in the course?
· A business strategy in an easy to use template that we will help you with every quarter to stay on track.
· You will have our trading code, a group of trade rules
· Recording and quantifying results and keeping a trade journal
· Precise Entry points
· Price and Direction
· Trade Strategy
· Learn how to set daily targets.
· Learn when to trade and when not to trade
· Trading plan to move to profitability.
· How to let the trades come to you.
· Trading with targets and how to manage risk.
· How to get your income, wealth and freedom trading.
· How to spot the highest probability trade
· Mastering your strategy
· How to be responsible for your trading and level of choice in the market.
· How would you like to know specific times to trade and not to trade.
· We will train you to understand responsible trading practices.
· The real working s of the market place and how to use these to your advantage versus being taken advantage of.
· The difference between direction and hope in trading the S&P 500 and Multiple markets.
· How to enter a trade and minimize risk so you don’t throw your money away.
We have found that relying on your memory to plan trading can lead you into a pattern of loss. Our system includes a trade journal which will keep you on track with the results of your trading to leverage your actual trading ability. You will also get the trade manual with the Money Maker Edge methodology and membership to our trade room where you trade live with other profitable traders that practice our methodology.
The Money Maker Edge S&P 500 live room’s day traders normally trade for less than an hour. This trading room is open to all that have had the S&P 500 day trading course and most traders reach their daily goal in less than 45 minutes to an hour. This trading room helps re enforce the trading methods we use and makes it easier for the beginning trader to see the trades and make better choices. This is open to all traders that have completed our course.
If you have any questions or for more information about the Toronto Ontario S&P 500 & Stock day trading course call Joel at 866-640-3737
You can see more on S&P 500 day trading course for S&P 500 emini futures at our website. Online and live training room giving day traders a system and trading support. Trading with a group of profitable traders changes everything. Emini futures course and stock trading course focuses on trade mastery and practice where you take the course and you are able to trade.
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Since opening this trade in the beginning of July we have seen the USD take off and gain ground against most pairs. The dollar index (another one of our trades) has also seen some fantastic gains since July and we are starting to look at some of these targets beginning to close.
With the position being opened in the 5.4000 area, we now see that price has continued to move towards our long term target in the 5.7000 area. As we move closer to this area we will be tightening up stops to avoid any loss on earned gains. This trade will account for a very nice gain on our entire account in the last 8 weeks and as we close in on the target we will be looking at a few key factors in either taking the position out completely or extending the target to look for more profit. This position started out with less than a 0.5% risk on accounts and at this point will pay many times that risk, even if taken out on a stop rather than the target. However at this point in this trade the target seems a more likely exit than our trailing stop.
Yesterday I was looking at USDCAD, and was mention that there’s a good short possibility. And to day, as I was tracking my chooses pairs, I decide to look on monthly chart, look each of pairs with another views.
And this what I saw…even if I still waiting, my short one, I’m also looking to take long trade. Basically I’m using an OCO order.
And on this chart, you can see the dominated trend. And the posibility for Long trade are also much more greater.
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1st- Testing double tops of all time highs again.
2nd- The second move are less impressive than 1st one. And it’s even more easy to see in volume.
3rd- USDRUB can’t pass the 35-36 area resistance. And we breaking the support line right now. If price go bellow 35.77 is a short one for me.
Enjoy your trading! This week we have few that are very easy to trade!
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