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

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

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

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!

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

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

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!

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

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

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