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The Dollar Trade Feb 17th…

PowerTrader — Wed, 17 Feb 2010 19:49:52 +0000

A negative day for the dollar index yesterday which ended the trading session with a relatively wide spread down candle which breached the 9 and 14 day moving averages as a result. The move lower came as little surprise given the the series of shooting star candles which have appeared on the daily chart for the past two weeks and these are now suggesting that we could see a pull back from the recent rally which has seen the index recover strongly since the lows of late December 2009. With all three moving averages now generally point higher and with the 200 day average sitting sell below the medium term outlook for the index, and the US dollar, still remains positive but for a continuation of the recent bullish sentiment we need to see a clear break and hold above the 81 price handle which would then signal that the positive momentum has returned and provide us with a firm base below.

Very Early GBP/USD Trade….Let’s see how it pan’s out.

PowerTrader — Fri, 08 Jan 2010 04:11:52 +0000

As you can see, an entry to sell was made at 1.5941. The price came within 4 pips of our target of 1.5911. Lets see what happens.

Forcasting market movement hmmm….

PowerTrader — Thu, 10 Dec 2009 17:00:44 +0000

Professional Traders Don’t Forecast:

Despite what many retail account holders think, professional traders don’t forecast. The pro’s know that on any given day a market can correct, and that correction can turn into a reversal. For some speculators this may be cause for concern, not for a trader. Traders don’t forecast.

If a professional can definitively tell you the current trend, then by definition she can tell you at what point in price and time that trend changed. She can point to the very candle or bar which produced the set-up that provided the level which price moved beyond to produce the change/reversal. That definition is what lends the trader confidence in the decision making process and what makes forecasting, like opinions, unnecessary, and even a liability. What the professional understands is that technically she is not making the decision, the market is. The market, through it’s highs, lows, and closing prices provides the framework which defines the critical levels that are the set-ups for coming directional changes. The trader just determines which time frame she is going to heed those changes on.

Jay Norris
www.trading-u.com

Happy Mondays…

PowerTrader — Tue, 08 Dec 2009 16:45:23 +0000

The markets are still ticking away just as I left it before the much needed vacation. 50 pips is an excellent way to start trading again after not looking at a chart in almost 2weeks. As I have mentioned many times before, it is imperative that you take a break from trading every now and then to recharge the batteries. It will not only help your performance, but taking a break will help you focus on the other important aspects of your life. Well below is the trade of the day. If you would like to learn how to make money in the markets CLICK HERE

Who needs a shirt anyway…

PowerTrader — Tue, 08 Dec 2009 16:28:20 +0000

Losing your shirt – a good thing?

When I first got into forex trading, it was my first taste of trading fullstop. I hadn’t traded in stocks/shares/commodities or anything else. All this nonsense about forex making you a millionaire in a short period – I didn’t believe it, but I realised there was potential to make a lot of money.

What happened during the next 6 months was pretty much a disaster. Me and my mate opened live accounts and then started trading whatever system claimed to make the highest number of pips. Had I come from a trading background in general, I would have known this was a stupid mistake, but since I was totally new to trading, this idea of making X amount of pips in Y days for some reason seemed a possibility, albeit an indistinct one at that.

I didn’t really fall for the whole EA crap, I knew it’s impossible for a PC to print money 24/7, otherwise the whole world would be doing it, so I kept on trying different manual systems. But each system I tried made me a loss. I can name these systems here and now, some of them are scams, others I can’t really testify for, but that doesn’t meant it wasn’t my fault. $1k loss became $2k loss. So then I was playing catch up, with each new system I thought I’d recover my losses in addition to making substantial profits. $2k loss became $4k loss. Not good, not good at all.

Did I lose my shirt? In short, yes. My mates trousers also went missing. It was only until I lost a lot of money did I stop live trading. What the heck was happening? I was a graduate from a top university in the UK, my family expected great things from me, I was supposed to have a fully fledged career, and be focussed upon that, not spend half the night in front of a monitor staring at squiggly lines. It was at this point I knew I had to stop.

I’m a very stubborn person, but nothing’s more stubborn than the market, as I learnt and paid dearly for. However, I was stubborn enough to make sure I can get to a stage where I’m making small, consistent profits.

So I stopped live trading altogether, and soaked up as much info I could over the next year or so, whilst working a full-time job. Only until I made a consistent amount of pips in demo for a few months (whilst devising my own system), did I step out into the real world for the second time.

When I look back however, losing my shirt probably was a good thing for me. I don’t think I would have been so determined to become profitable otherwise.

That doesn’t mean that new traders can’t become professional traders unless they’ve lost their shirt. Nor does it mean every new trader who loses their shirt will go on to become a professional trader. Yes, a few will learn their lesson and become more determined, but others will just give up, whilst others will never learn their lesson, resulting in the loss of multiple shirts.

http://forexmagnates.com/losing-your-shirt-a-good-thing/

Membership Update…

PowerTrader — Fri, 13 Nov 2009 20:07:48 +0000

Unfortunatly we haven’t been able to post due to lovely modern technology, but it seems we have the bugs all worked out and we are back!

At the overwhelming request of a majority of our valuable members. We have decided to implement some changes that can only serve you even better. As a member you will begin to receive the key levels that we important to your trade decisions. These key levels are the catalyst for many of the trades taken throughout the trading session. When these key levels are broken simply wait for a pull back to the value areas. from these value areas the trades are initiated. Many members mentioned that they would like to have these key levels emailed to them during the U.K. & U.S. trading sessions. So from hence forth the levels & instuctions regarding potential trades will be emailed to members in & posted in the chat room. Members who still need assistance. Feel free to email us via the members email address.

Also we are working on some very exciting projects behind the scenes. So all members look out for updates. And of course as a member you recieve all updates to the systems absolutly free! We are working on adding an additional method that is pretty much a set it and forget it system. That will take 10 minutes a day to manage. It can easily be managed from your hand held device. It is still in beta. It uses many of the principles that you have all ready learned, so lookout!

Powertrader

$400 Dollar Winner!

PowerTrader — Wed, 28 Oct 2009 19:44:37 +0000

Happy trading day. Today was a pretty good day. Using any of the three FXPowertrading methods, you would have paid out like a bandit on payday. Out of the three, the $$$$ collector has been one of my favorites. Here is how we did with that particular strategy.

Possible Money trade…

PowerTrader — Fri, 16 Oct 2009 05:55:17 +0000

We are currently waiting for a possible FXPOWER signal To materialize. It looks like we may have a long trade, but we shall see. The markets are going to do what the markets are going to do. It also looks like the this particular pair has some serious resistance above at some key levels, but solid support as well.

We’ll Teach you How to Make Money Trading Forex Today…CLICK HERE NOW!

PowerTrader — Wed, 14 Oct 2009 20:16:35 +0000

We will only open our private membership site up to new clients a few times a year, if that.

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4. Read up on the trading setups we use. For pictures and basic text explanations of each setup checkout the download and chatroom available in Private members area.

5. How To Enter Trades: Each broker should have a tutorial, that will help you get acquainted with the trading platform.
6. Weekly lessons! – Read the FXPOWER! newsletter for a wealth of knowledge on the markets and trading setups.

7. Start receiving your FXPOWER ALERTS! and run simulated trades for at least 2 weeks before
starting with real $ cash, with the minimum amount of lots. Make sure you read everything on the member menu and whatever you can get your hands on. If you don’t understand a term or indicator let us know or visit babypips.com.

8.If your serious about doing this as a profession or wish to learn more about trading, you may wish to look at the FXPower! consulting program in a few months. It’s a on on one intensive training course that’s bound to make you a better trader. Just send an email once you become a member. as this service is only available to members.

Thank you, Powertrader

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