FXPOWER TRADING.COM » Trades

Pending Order…

PowerTrader — Tue, 20 Apr 2010 07:32:48 +0000

And as usual, just about this time we have our order in place. We currently have a sell stop in place at 1.5286. But checkout this nice pop not to long ago. It looks like traders took the positive German PPI seriously. We will of course keep our stop in place as per our system and we will just see what happens.

Can A Picture be Worth a Thousand Pips…?

PowerTrader — Mon, 12 Apr 2010 08:02:20 +0000

The reality of what the market actually is will be our theme for the next few weeks I’ve just decided. So hold on to your to trade stations ( mine is a simple laptop. You don’t need 10 screens to know whats going on) and let’s shed some light on this topic. First, lets take a look at my idea otherwise known as my opinion, expressed in the reality of the Forex market. I currently have a long bias (meaning that I am looking to buy, expecting the price to move up) on the Pound/Dollar pair. In order to make my idea a reality, I simply express my opinion by placing a buy stop order where my trading plan/strategy tells me. After that, I just let my order rest. I don’t stare at the screen. I go and do other things. I respond to emails from clients, interact on trading forums and make sure my businesses are running smoothly. I might even take a snoozer and wake up for the U.S. session. But that’s me. Unless your particular trading strategy or as I would say your avenue of expression calls for you to be present for potential set-ups, then so be it. I’ve learned what kind of trader I am and what will give me the least anxiety.

My Current resting order buy stop order :

The pending buy stop wasn’t triggered, so it was canceled. Now during the U.S. session, my idea about the the potential price direction changed.

New idea expressed:

Neither trade was triggered today. Let’s see what tomorrow brings. No need to keep looking for a trade for trading sake.

And a New Trading Week is Here…

PowerTrader — Mon, 12 Apr 2010 06:15:16 +0000

Yes, that is very true believe it or not. The weekend has ended and we are now officially off to the races. Well for those that live in the Southern Hemisphere (that’s being a tad to general). I mean those traders who reside in the land of kangaroos and boomerangs, have been at it for awhile now. As have our friends in the Far East, they have been also getting the job done for a few hours as well.

Here on the west coast of the good ol’ U.S. of A, I am waiting for our Frankfurt and London counter parts to get going. With that another profitable trading week will begin. At the moment, we are about 10 minutes from the Frankfurt open. Our main trading pair, the Pound/Dollar looks like it has an upside bias. It has broken resistance at the 1.5390 area. And has broken further resistance at the 1.5466 area. Everything appears to be shaping up to go long. With that said, as a trader I now implement my chosen strategy that will express my opinion. It may be right or it may be wrong. You know my m.o., just trade what you see and in the end, if your chosen method of expression has proven itself. You would have joined the ranks of the ever elusive 5% of consistently profitable traders.

May the pips be at your back – PowerTrader

Week In Review…

PowerTrader — Fri, 09 Apr 2010 21:06:51 +0000

And so this week has come and gone. I would have to say that it has been a solid week of great trading. The FXPOWER FUND account is doing extremely well. The grand total on a percentage basis since inception is 5.21% . Not a bad show if we don’t say so ourselves. We will continue chuggimg along. See you next week for some more pips.

Below are the trades for today:

Money, Money, Money…And Maybe Some More?

PowerTrader — Thu, 08 Apr 2010 13:14:42 +0000

The U.K. session did it for us this morning. And as you can see we have a pending buy stop waiting to get triggered. Lets see if we can have another money making session!

Update: And yes we had another winning session. Currently we are up a respectable 3.32% from the inception of our new FXPOWER FUND account. This account began trading on 3/22/10 using our $$$$ Collector strategy.

Monday Trade Results, Drum Roll Please…

PowerTrader — Tue, 06 Apr 2010 04:05:45 +0000

First let me begin. As I have preached time and time again, both on our blog and on the forums. The true secrets to trading and consistent profitability come down to two things.

1- Having a methodology that has been tested to have a positive expectancy.

2- And applying the chosen method consistantly.

For example, at the end of last week we ended the week down 4% . And now staying consistent to our proven trading method we are up 1.97%. In the end what matters is how we end the year. So we will keep chugging along here. racking up pips along the way.

Trade Updates and Beyond…

PowerTrader — Fri, 26 Mar 2010 01:41:05 +0000

We have been seeing some interesting moves in the currency markets the past few days. Very large moves in the Euro and Pound. So be careful out there and follow your trade plan with focus. Now on to the trades for the past few sessions. So far we have had three losing trades in a row. this is where money management, a quality trade plan and the psychological framework is of utmost importance. Oh well we had three losers in a row, its to be expected. You just stay consistent. In the end we are only down .53%

Looking good on a Monday…

PowerTrader — Mon, 22 Mar 2010 18:37:16 +0000

After an exciting weekend here in the states. Where a significant piece of legislation regarding health care reform got off the ground. We are back in the trading saddle for the Monday morning fireworks. During the U.K. session, we had a short bias and were looking for a sell on the GBP/USD. The trade never got triggered. During the U.S. session it was the opposite. In this case our buy trade was triggered. We exited for a nice profit less than an hour later.

GBP/USD Shorts = Money Friday…

PowerTrader — Sat, 20 Mar 2010 06:59:52 +0000

Alright folks, today was an exceptional day in the currency markets. Our good friend the British pound took it on the chin pretty hard during both the U.S. and U.K. trading sessions. As for the reason, not going to speculate. As you guys have heard and read me write is to “trade what is”.

Today 2 trades where taken using a strategy that we have been refining for quite some time. We have just gone live, so keep a close eye out.

Below is trade #1

Below is trade #2 when the trade was executed.

The Result

75 PIP WINNER!

PowerTrader — Fri, 22 Jan 2010 01:54:21 +0000

This was an easy set it and forget it win. We are currently up 5.06% using the new set it and forget it set up. After some more forward testing, lookout for another real pip collector!