Learn to trade the Euro Japanese Yen using the www.fx500club.com strategies

I’m not trading the euro jpy 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. euro yen trading for profits

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

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.

I am trading the triangle formation drawn on my daily and 4 hour charts, this is a very relaxed way to trade, just waiting for the price to test support and resistance with small stop losses below support and above resistance. See the 4 hour chart below , I drew my descending trendline connecting the highs on may 11th and the ascending trendline on April 28th. See how the ascending trendline has been acting as resistance all the way back to January and February. Amazing.

It was just a case of waiting for a tight entry using the hourly and 15 minute charts. I went short at 133.29 and put my stoploss at 134.22. I have taken 50% profit at 131.70 and may re enter short if it retraces back up to 132.00.

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.

I’m too busy trading and making profitable pips in the www.fx500club.com to update this forex trading blog as often as I would like but I will try harder.

Andersbaard Larsen  called this trade again this morning, he has helped me make more pips in the last two weeks than I can ever imagine, he is an amazing forex trader and also a very nice guy. He told us to enter if the price retraced to 131.38 I got in at 131.30 he said take some profit at 131.65 it hit that and bounced right off it, incredible. I took partial profits and added shorts on every pullback all the way down to 130.20. All good fun in the www.fx500club.com live forex trading school.

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.

Euro Jpy Long trade, a slightly risky but calculated risk as a retracement away from support off the weekly s2 and daily s1, a small stop loss below 124.28 and the red moving average as target.

The guys in the www.fx500club.com are doing an amazing job of improving my trading and as a consequence my account is growing in leaps and bounds. The key for me being never risk more than 1% on any one trade. Here’s how I do it now.

Say my account is £1000, before I enter every trade I work out the stop loss, say for example it is 100 pips, 1% of £1000 is £10, that means I can afford to lose £10 on this 100 pip sl trade, £10 divided by 100 pips equals 10 pence a pip. Just 10 pence a pip I bet alot of you are trading well above that risk level, well don’t!! If my stoploss is just 50 pips then I can double my lot size and trade at 20 pence a pip. A £10,000 account balance means I can trade £1 on a 100 pip stop loss trade. I hope you are getting the picture now. Live and trade by those rules and you should never be stressed in a trade. Love your losses, with tiny risks you can take far more trades provided they have a good risk reward and are high probability trades. 

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.

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.  Shorted this euro yen pair because it needed a retracement on the 60 and 4 hour chart, as you can see the stocastics were above 80 and had been for a while, well worth a punt a 60 pip stoploss but a healthy 600 pip target based on a 50 percent fibonacci retracement. It eventually retraced back to 130.90 from an entry at 136.79, very nice.

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.

euro japanese yen Long trade off the daily pivot and the hourly 20 red moving average, we were waiting for a break of the descending trendline. The safest trade would have been the bounce off the trendline at about 9am. It topped out at 130.50 130 pips away from entry. Nice.

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.

We had an ascending trendline, once the cci’s and triggers were all setup correctly we were looking for a long trade, the first yellow vertical line was the initial entry, once we broke through the descending trendline acting as resistance we had 1 red candle and traded the bounce long off the trend line and the pink 15 minute 20 moving average.

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.

This long trade was a bounce off the Daily 20 day moving average, the thick red line. You can also see an ascending trendline, that the cci 21 had moved above zero and the cci 84 was rising, the stocastics had crossed. Yen sentiment was weakening across all the currencies. The long looked good to go.

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 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.