Learn to trade the UK100 Futures indicies using the www.fx500club.com methods

I don’t trade the uk ftse 100 that much at the moment so I thought I would show you a couple of other trades I took using the forex trading strategies I am learning in the www.fx500club.com live online forex trading school. The strategy works the same for any forex currency pair, commodity or index. uk100 / footsie / ftse trading 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