Learn Trading the British Pound, United States Dollar using www.fx500club.com strategies

I’m not trading the gbp/usd 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.  Cable forex trading systems and strategies

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.

This is a bit mad, I mean I am seeing trades all over the place and so much clearer now, I guess it comes from spending so much time in around professional traders in the www.fx500club.com live trading room and school, it was bound to happen….Long may it last.

The CCI indicators along with the hourly chart were key to taking this trade short, it was so clearly overbought  (i’m a poet and i didn’t know it lol) and consequently ready for a pullback.

the 15 minute chart is below.

These contra trend trades are always a bit risky so Dan teaches us to reduce the stakes and shorten our targets. I did this and banked a nice few pips, thanks dan. Trading tops is always a bit tricky but the stops are so tight they are worth the effort trying to master.

This is just one of about 10 or so reversals I took yesterday, trading is becoming second nature now thanks to Dan and the guys in the fx500club.

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.

Hi well this trade worked out perfectly and as expected. We had the silver cross and the golden cross for a long trade then the retracement / pullback to 1.4680, I entered at 1.4700 with a stoploss below 1.4650, I took partial profits at the previous high 1.4785, notice we then had a pullback to the thick red 80 moving average, for the remainder of this trade I kept moving my stoploss up but kept it below that ma.

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.

This is the retracement I mentioned in my last post. I traded this up, then down and I hope to trade it up again soon.

This gbp/usd currency pair is looking very oversold on the 15 minute chart, as mentioned earlier I had already traded this long late last night, I then expected it to run out of steam at about 1.4750 - 1.4800, well it did and I shorted it at 1.4785 with a stoploss above 1.4820, I took profit at 1.4705. I will now wait for it to rest a bit with a view to going long based on the setup up on the hourly chart and any other determining factors.

Thanks again Dan , Zak, James and Anders of the www.fx500club.com you have transformed my forex trading enormously.

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.

Things have progressed very well since my last post here, I am making so many good profitable trades now that I am struggling to document them all. Here’s my most recent cable trade.

This was a great little trade using the silver cross figure 1, then then golden cross, figure 2.  These crossovers of the moving averages confirmed the direction of the trend on the current timeframe and also the higher timeframe. i.e. 15 and 60 minute timeframe. The price then bounced off the thick red ma acting as support along with the daily and weekly pivots. Entry was at 1.4611, stop loss at 1.4580, profit target the previous high at 1.4688. This trade played out whilst I was asleep in bed….how stress free is that?

The pound looks quite strong against the US dollar so I now expect this to test the 1.4750 to 1.4800 area and then retrace on the hourly chart. As in the diagram below. I will then consider a long trade.

******* UPDATE ******** THIS TRADE DESCRIBED ABOVE WORKED OUT GREAT, SEE POST APRIL 30TH

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.

This Cable trade was all about the stocastics being above 80, the cci 21 crossing below zero also looked good. It needed a pull back so with a relatively small stop loss above 1.4960 and a possible 50% retracement  to the 1.4500 area, or at least to the weekly pivot at about 1.4600. Nice controlled trade.

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.

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.

Sorry I have been so busy trading I have not been able to make time to post my trades recently.

Anyway Dan has changed the way he is teaching us to trade and it is amazing. We are now concentrating on the medium to longer term charts, daily ,4 hourly and hourly for the trend and mainly taking trades on the 60 minute chart. This is brilliant because it gets us into larger moves, is far less stressful and by understanding the direction of the price action on the longer term charts it helps me understand the minor pullbacks and retracements on the 15 and 5 minute charts.

Todays trade was a short , a retracement / pullback on the 5 min chart, against the hourly up trend. Entry 1.4921 target 1.4895

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.

Dan and the fx500club have moved into overdrive this week, Dan had been getting frustrated at people missing great trades due to his strict teaching methods so now he has implemented a little flexibility. He is showing us how he trades his intuition as opposed to strictly watching all the indicators and moving averages.

This long off the daily pivot was a great example. Dan had given us the levels to watch for a break, 1.4416 short and 1.4500 for a long, a clear break of either level would signify a trade in those directions.

I took the long at 1.4439 and pre-empted the break of 1.4500 because all the triggers looked so good. The 60 minute and the 5 minute charts all looked good for the long trade as well.

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.