3
Jul
Posted in Uncategorized by admin |
I’m not trading the Dax Index much at the moment so I thought I would post these two trades I took this morning. The trading strategy works the same for every currency pair and all the commodities and indices …enjoy. Dax Trading
One thing I have learned about trading is that you NEVER STOP LEARNING. I hate sitting around wasting time looking at charts all day, it’s also not so good for your profitability because if you have to search for trades then mistakes get made, best to get in and out quick, have a plan and trade that plan. Dan Armitage teaches us this in the www.fx500club.com Online Trading School.
So what have I learned that’s new? Well for me it has become more obvious that the Frankfurt Financial Market boys get in a little earlier than the London Financial Markets open and it seems the Frankfurt boys move the markets one way only to be reversed by the London Traders. I am seeing this more and more often. So today I had a little go at trading purely technical setups using the bunched moving averages strategy ( the fx500club, 123 setup ) . Have a look at the GBP JPY trade I took this morning before the London markets opened.

I am liking these setups alot because they are generally very quick, taken off the 5 minute charts, the stop losses generally very small and the profit targets good eneough to make the reward risk very acceptable, more often that not 2 or 3 to 1, risk 15 pips to make 30 or 40. These type of trades happen fast so if they go against you you are generally out within a few candles.
This is just a variation on many of the trading strategies taught to us in the www.fx500club.com and www.fxmonkeyschool.com.
So for todays trade the first thing I wait for is the 5 minute 20 ema to cross the 5 minute 50 sma (the pale blue arrow is an alert I have setup), then I wait for the moving averages to become bunched up / close together. I then wait for the price to break through all the moving averages and begin to use them as support. Then it is just a question of using the cci indicators to get the best entry.
I entered the trade long at 157.17, my stoploss at 157.00 the previous low and old resistance became new support, my target was an old high 157.61, gj always moves quite aggressively so I try to lock in half profit at 20 or so pips and let the rest run to target.
The chart below shows how the price reversed once the London markets opened. Notice the pink downwards arrow is alerting me to the 20 ema ( exponential moving average ) crossing the 50 sma ( simple moving average ) Normally a good sign to take a short trade once the mas all bunch up again but not today as we have the weekley pivot ( wp) , directly below us.

This is just another way of trading old resistance becomes new support or vice versa for short trades, but using the moving averages as added confirmation of the price action.
See also my chart below, see how similar the AUD/JPY trade setup was this morning, I took this from my alert as well. There were alot more setups like this this morning and they all would have made nice safe profits and all before 7.30 am, not a bad days work, in at 6am finished by 7.30.
Please note I apply alot of other strategies before taking these trades, long term trend direction, fibonacci levels and market correllation, all trading techniques I am learning in the live online trading school with the www.fx500club.com

Just £97 a month gets you into the www.fx500cub.com daily live online trading school where Dan Armitage, James Boord, Zak Lloyd and Hemal Pandya will teach you how to trade forex using setups like I have described above.
Click Here to get a FREE days entry into the fx500 club live trading room
Always Remember.
Keep your risk as a percentage of your capital low (1%), equals stress free trading.
Always work out potential losses before potential profits.
We are paid to take risks, if you aren’t in a trade you cannot win a trade!!
Buy off support and sell off resistance.
Bank partial profits early and move your stop loss to break even as soon as you can.
I am learning how to trade these setups and indicators across all time frames with the help of the fantastic team at the www.fx500club.com They have a live forex chat room and share their charts so that you can watch them find potential trades in real time.
They also have a school for learning how to trade longer term charts at www.fxmonkeyschool.com.
The fx500club and fxmonkeyschool, forex trading school don’t just trade charts and indicators alone, they teach us to use correlation of the whole market before entering a trade. It truly is the best place to learn how to trade forex properly, safely and profitably. It’s all about the pips and about protecting your capital.
Click Here to get a FREE days entry into the fx500 club live trading room
26
May
Posted in Uncategorized by admin |
Amazing, I only found this place yesterday, the concept is truly amazing.
This is how it works. The website has hundreds of professional forex traders as participating members, these traders all have their profiles and trading methods along with their results for you to view and decide who you would like to trade for you.
The traders and the website make money by sharing the forex brokers spread on any trades they make on behalf of the websites members, this means NO CHARGES FOR YOU!
I have posted the websites frequently asked questions so that you can see exactly how it works. Or checkout the website here.
13
May
Posted in Uncategorized by admin |
This was amazing, I don’t often trade the indicies because I still find the correlation a little hard to understand. However I had just been in the longer term forex trading school the www.fxmonkeyschool.com and we were having a lesson given by their indices expert and professional trader James Boord. He showed us potential setups on the ftse 100, the dax and the dow jones, all were in triangles on the 4 hour charts and wer looking very weak.
I took this dax trade on the break of the ascending trendline at 4823.38 James gave us profit targets and the rest is history. I’d like to see this retrace back to the 4800 area and then will go short again.
We could have traded all three of the indicies that we study, i chose dax because it looked the weakest of the three, there will definately be more shorting oppertunities with these now, just waiting for the pullbacks and the correct setups now. I love trading yay

Always Remember.
Keep your risk as a percentage of your capital low (1%), equals stress free trading.
Always work out potential losses before potential profits.
We are paid to take risks, if you aren’t in a trade you cannot win a trade!!
Buy off support and sell off resistance.
Bank partial profits early and move your stop loss to break even as soon as you can.
I am learning how to trade these setups and indicators across all time frames with the help of the fantastic team at the www.fx500club.com They have a live forex chat room and share their charts so that you can watch them find potential trades in real time.
They also have a school for learning how to trade longer term charts at www.fxmonkeyschool.com.
The fx500club and fxmonkeyschool, forex trading school don’t just trade charts and indicators alone, they teach us to use correlation of the whole market before entering a trade. It truly is the best place to learn how to trade forex properly, safely and profitably. It’s all about the pips and about protecting your capital.
9
Apr
Posted in Uncategorized by admin |

Dan Armitage and the team at www.fx500club.com and the www.fxmonkeyschool.com have been concentrating on teaching us how to trade the hourly charts using the daily and 4 hourly to determin the direction of the trend. This is great for me because it really helps me understand how to trade the shorter pullbacks and retracements on the 5 and 15 minute charts.
This Dax Trade was entered as a bounce off resistance a potential double top, it was slightly risky but it was clear the price needed to retrace, the cci trigger was getting near to crossing zero, the stocastics were above 80 and crossing down. This was a high probability low risk trade, using good money management to protect capital.
I Learned how to trade these setups and indicators across all time frames with the help of the fantastic team at the www.fx500club.com They have a live forex chat room and share their charts so that you can watch them find potential trades in real time.
They also have a school for learning how to trade longer term charts at www.fxmonkeyschool.com.
The fx500club and fxmonkeyschool, forex trading school don’t just trade charts and indicators alone, they teach us to use correlation of the whole market before entering a trade. It truly is the best place to learn how to trade forex properly, safely and profitably. It’s all about the pips and about protecting your capital.
14
Mar
Posted in Uncategorized by admin |

It ran out of downward pressure at about 3580, all the moving averages started turning upwards, the daily pivot started acting as support, it was just a question of waiting for a retracement and all the triggers to line up for a long entry. We now have a small retracement with this building to go possibly to the 4300 area, I am out now as this is most likely still just be a retracement on the downward move on the 4 hour and daily chart.
Below is the daily chart showing the fibonacci levels with the red cross on the cci 84 marking how oversold the dax was at 3580, buyers enterd the market in force.

6
Mar
Posted in Uncategorized by admin |

I couldn’t resist this short trade on the dax today, all the moving averages were in the correct order above us, there was that descending trendline and also the daily pivot acting as resistance. All this added up to a relatively small stopp loss above all that resistance with a decent profit target of the previous low.
I Learned how to trade these setups and indicators across all time frames with the help of the fantastic live trading team at the www.fx500club.com. They have a live chat room and share their charts so that you can watch them find potential trades in real time.
They also have a school for learning how to trade longer term charts at www.fxmonkeyschool.com.
1
Mar
Posted in Uncategorized by admin |

I still think the dax has a long way to go down yet, however it looks like we may be ready for a retracement to the 4200 region on the 4h chart. I won’t be considering trading this unless the price starts to follow the path mapped out on the 60 minute chart below. This will be fun lets see what happens.
