For those of you who missed it, here’s my first 2-part article that I was asked to write for Traders Magazine entitled “What Traders Can Learn From Battle Managers”:
Part 1 is here: TradersMagArticle29092011.
Part 2 can be found here: Trading Is War – Part 2
January 27, 2012
I’ve not been blogging many trades or videos so far this year. The Metatrader platform whose charts you’ve seen in my past blog posts has been closed down by my broker as they change their Metatrader supplier. In the old days you could easily move your profiles & templates from one Metatrader to another regardless of broker supply. In a Vista and Win 7 environment this is not so easy and you have to hunt through certain files to find these hidden profiles & templates. My laptop has been immensely effective at hiding these profiles & templates leaving me somewhat exasperated as I try to find them and transfer them across.
Another interesting point is the difference in my charts between brokers due to time differences. My main trading computers charts look different from the one I use on my laptop. You may already have experienced this yourself. With Metatrader that can be due to the brokers choice of feeds whether it be a European or US feed. Ultimately you can only trade what you see in front of you.
Anyway rant over…for now. This video cover a trade on the daily chart of the GBPJPY which stopped out overnight and had been running for nearly two weeks. It was an aggressive counter trend trade which played out nicely and generated 338 pips return for a reward to risk ratio of 6.25:1. I wish all trades played out like this! 
However I’ve learnt to be happy for whatever the market pays me.
I hope January has been a profitable month for yourselves. I wish you the best of luck in your own trading. Until next time, trade well.
FXTP
January 26, 2012
Hello fellow traders,
I hope you’re all trading well during these first few weeks of January 2012.
You may or may not be aware that I’ve been writing a monthly article for Traders’ Magazine on What Type Of Trader Are You?
This month’s article is on the difference between Greed Based Traders vs. Fear Based Traders. It’s something I’ve spoken about before on several occasions as one of the first biases I look for in other traders.
I’ve included a link to the entire magazine (should you wish to peruse the other articles) and a copy of my specific article for your reading pleasure.
The link to the magazine is: http://tradersonline-mag.com/01_ezine/01_traders/en/2012/02/index.html
You can read my specific article here: WTOTAY – GBT v FBT
I hope you enjoy.
Paul
January 24, 2012
Here’s my weekly Currency Strength Analysis for the week commencing 22nd January 2012.
Weekly:
1. JPY
2. AUD
3.CHF
4.USD
5.GBP
6.EUR
No real new news there.
Daily:
1. AUD
2. JPY
3.USD
4.GBP
5. CHF
6.EUR
In terms of currencies and possible trades for this week I’m looking at EU, EJ, EA,CJ, UJ, AC & GA.
Sorry for the lack of videos as the metatrader I used has been closed down and I’m busy updating my profiles & templates settings on a new version. In the old days you could easily transfer profiles, templates and indicators across however (as I’m sure some of you have found) in a Vista or Windows 7 environment it’s not as easy.
Have a great trading week.
FXTraderPaul
January 17, 2012
Hello Traders,
As usual here’s my analysis of Currency Strength & Weakness for the week beginning 15th January. From the weekly perspective:
1. JPY
2.AUD
3.USD
4. CHF
5. GBP
6.EUR
No change from last week on a weekly outlook
From the Dailies:
1.AUD
2.JPY
3.USD
4.GBP
5.CHF
6.EUR
So on both the daily and weekly charts there’s no significant change. JPY, AUD & USD are the strongest whilst EUR & CHF are the weakest.
With regards to trading ideas I have been engaged this week with GBPCHF, CHFJPY, AUDCHF, EURUSD, EURJPY,EURGBP & GBPJPY. If I get time I’ll try to stick a few videos and charts up later this week.
I hope you’re all enjoying a profitable start to 2012!
Trade well!
January 11, 2012
Happy New Year Fellow Traders!
I had an extended break over the holiday period and used the time to plan my next 12 months. More of that in future posts. In the mean time here’s the weekly strength analysis for this week.
Weekly:
1. JPY
2.AUD
3. USD
4. CHF
5. GBP
6. EUR
Ok so for the start of 2012 the JPY & AUD still look strong with USD strengthening, CHF weakening and EUR a complete dog. Any surprises there people?
Looking at the daily strength matrix:
1. AUD
2. JPY
3.USD
4.GBP
5.CHF
6.EUR
Same three strong currencies though interesting to see AUD strongest on the daily time frame. The CHF is still slipping in terms of strength and once again the EUR is a dog.
This week I’ve been looking at GBPUSD, GBPJPY & AUSUSD in particular for set-ups. More of that later.
I hope you all had a cracking holiday period and a good start to 2012.
Trade well,
FXTraderPaul
December 22, 2011
I’ve mentioned Peter Brandt’s writings before here on my blog. Whilst I don’t trade like him there’s always some excellent advice & anecdotes on his blog that are suitable for traders regardless of their experience.
In this post Peter talks about how his firm keep excellent records (a personal hobby-horse of mine as regular readers full well know) and how they use that data to adapt their trading to present market conditions.
http://peterlbrandt.com/thinking-through-the-trading-process-time-phasing-risk-management-protocols/
Enjoy!
FXTraderPaul
December 20, 2011
Hey traders,
Most of you know that I’m primarily an FX Trader however for the last 8 months I’ve increasingly been trading the major Indices (S&P, DJ30, DAX & FTSE). For some reason my price action strategies have been generating nice signals, trades and results so who am I to argue?
Anyway here’s a video of a couple of recent Indices trades from the S&P and the FTSE. The S&P closed out last week but the FTSE one is still trundling along.
There are some lovely set-ups on the 240, daily & weekly Indices charts. Take a look and have some fun!
Until next time, trade well.
FXTraderPaul
******UPDATE 1400 21/12/2011******
As mentioned in my video I expected the FTSE to move a little further north on its retrace and hit my trailing stop. Well be careful what you wish for….because that’s what happened this morning. The FTSE gapped higher on opening, moved north, hit my stop at 5470 and then rolled over and dropped 80 points! Had I been day trading then it would have been a great place to get short. As it was my trade was closed on its trailing stop for 30 points of profit. Meh. These things happen, I just followed my rules. Anyway now watch as it slides down to my original target of 5200!
December 19, 2011
Hey Traders,
Here’s my Weekly Strength Analysis for the week beginning 18/12/2011.
1. JPY.
2. CHF
3. AUD
4. USD
5. GBP
6.EUR
AUD & CHF swap places but I don’t consider it to be a long-term change. If we look at the daily strength analysis:
1. USD
2. JPY
3.GBP
4.AUD
5.CHF
6.EUR
We still see the present picture namely CHF & EUR weakness with dollar & JPY strength running into the holiday period. I’m not looking at opening any new positions this week and will be scaling back operations. However I have recently had two positions in the FTSE & the S&P and I’ll update you on them tomorrow.
Have a great week.
FXTraderPaul
December 17, 2011
Here’s a blog post written by Tom Willard about Maxwell Maltz, Psycho-Cybernetics and trading.
For those who’ve never heard of Maxwell Maltz and psycho-cybernetics I would heartily recommend all traders take the time to read and digest the book.
(You can pick up a copy of the book here should you wish to read more.)
Anyway in the mean time here is the blog piece. Enjoy!
http://revolutionarytrading.wordpress.com/2011/11/10/the-trading-servo-mechanism/
FXTraderPaul
December 15, 2011
Hello traders,
As we enter the last few weeks of 2011 and prepare for 2012 I’ve been looking at the charts and creating some snapshots of particular currencies. Last week it was the Euro and this week I’ve gone for the Aussie Dollar.
I hope you enjoy. I’ll do a few more currencies over the next couple of weeks.
FXTraderPaul
October 12, 2011
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