Waiting Period - forex news trader pdf

Waiting Period ~ forex news trader pdf

The Cable is still in indecision mode. There has to be a clear break out of the H4 timeframe box to determine if the reversal is genuine or if it is a temporary halt to the downtrend. We are in a waiting period.
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Short Medium and Long Term Trading Plan - forex market news rss

Short Medium and Long Term Trading Plan ~ forex market news rss

I have already mentioned earlier on this trend the the need to have short, medium and long term trainding plan in place for any trader to be successful. Let me briefly explain my long term trading methods plans here:

Long Term

For my long term trading I use the following combinations:

a) Daily candle in conjunction with RSI. I will monitor the RSI for a clear direction. Once the direction is established I follow the direction. I allow that trade to float around for either 500 pips TP or until the price start to craw around the red horizontal line I have on my RSI chart before closing the trade.

b) Weekly Candle only. For the weekly candle, I open a trade at every month based on the direction of the weekly candly. I will set TP at 250 pips, where the TP is not reach, I wait till Friday to close the trade.

c) Monthly Candle only. For the monthly candle, I will wait 3 three days into a new month and place a trade based on the direction of the candle. I will set the TP at 500 pips, where the TP is not reach, I wait a day before the last trading date of the month to close the trade manually.


For the long term trades, I place only 5 trades in a month in addition to any floationg trade from my daily RSI Chart signal. When I started this method, it was very difficult to avoid the temptation to close trades already in profits or allow losing trades to float for weeks before turning around to profit. I must confess at the initial stage, I close most of these trades whenever I see 100 pips gain/loss in my live account, but with time I develop the discipline to stick to my plans.

The long term trades are usually in addition to my short and medium term trades based on signals from H4 RSI signal, major support and resistance, trend lines and price channels I mentioned in my earlier posts. For the short and medium term trades, I ensure that they are closed a daily basis at most within two days. Depending on my daily targets some of them are even closed within hours or on good days within minutes. I attach a daily chart which shows the trading opportunities for long time between January 2009 - June 2010 and the respect for the RSI 50 line which usually serve as guide as to whether to exit a trade or allow it run.

I will provide the summary of my method in my next post, post some of my results and thereafter come to the present and share my daily, weekly and long term trading plans on this tread for exchange of ideas.
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GBPUSD(updated) Outlook - free forex news trading ea

GBPUSD(updated) Outlook ~ free forex news trading ea

The Cable effectively traded between the Masterchart level 1.5300 and 1.6300 for most of 2012.  The bullish run which began since June 2012 is technical still intact.  The monthly candle has been consolidating between 1.6000 and 1.6300 for the last 4 months.   The monthly candle needs to close out of this 300 pips range in order to determine the long-term   direction.  Based on the fundamentals the presure appear to be to the upside. However,  the big players are capable of draging the pair back to 1.5300 to maintain the ping-pong game from between 1.5300-1.6300

If you want additional information on how to take advantage the scenerios send an e-mail to diamondstrategiks@gmail.com for a copy of the 2013 GBPUSD Strategic Trading Plan.

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Follow The First Reversal H4 Candle Using M15 - forex pre news trading

Follow The First Reversal H4 Candle Using M15 ~ forex pre news trading

This current sentiment now is that GBPUSD has formed a 200-pips box (flag) between 1.57807 and 1.55081. A break out of either side will determine the next direction. Until this happens any prediction is mere speculation.

To play the range, follow H4. The most effective method is to follow the first reversal H4 candle using M15 as entry around 30. The red horizontal line on RSI gives early indication of when to take profit or lock your profit. Now the trend is up, reversal on M15 around 70 is a signal to either take or lock your profit by either using trailing stop or shifting your stop loss.
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(updated) Outlook GBPJPY - quantina forex news trader ea

(updated) Outlook GBPJPY ~ quantina forex news trader ea

The GBPJPY has been on an extended bullish run from around 118.00 since June 2012.  Price has moved by over 3000 pips since then.  The new government is determined to devalue the Yen further.  The broke a solid resistance at 140 and currently appears to be heading towards 145, 150, 155 and possibly 160.  On the other hand,  the big players are capable of reversing the gains and forcing the government to start the devaluation process again

If you want  additional information on how to take advantage the scenerios send an e-mail to diamondstrategiks@gmail.com for a copy of the 2013 GBPJPY Strategic Trading Plan.


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