Sam Trades FX

Sunday, December 30, 2012

Taking it easy

No real setups for me going into this week. I'll re-evaluate after the holiday.

Sunday, December 16, 2012

EJ gap short closed.

Gap Trades Part 2

Heavy gaps this afternoon in the yen pairs due to Japan's elections. Caution advised as these gaps may roll hard and not close.

That being said, I've established healthy short positions and will continue to as long as the 111.5 range holds.

Saturday, December 15, 2012

My weekly forex outlook...

Nothing real big going into this week. I'll be referencing some of the charts posted last week.

GL.

Sunday, December 9, 2012

These trades work with an insanely high win ratio. Today's setup was one of the best, with multiple pairs gapping into support/resistance levels. I took the EU setup.

See the charts below...first showing the setup, followed by the entry and lastly tp being hit.

Saturday, December 8, 2012

My weekly forex outlook eur/usd, aud/usd, eur/jpy, etc

Charts for the week..

Sunday, December 2, 2012

Keep an eye on the calendar this week, jam packed with market moving releases.

My weekly forex outlook eur/usd, aud/usd, usd/chf, usd/cad etc

What I'm watching going into this week...

Tuesday, November 27, 2012

Entries, Stops, Rules

re: twitter question of entries, stops & rules.

My trades generally fall into two categories...

1) 1hr/4hr first time back/S&R bounces. these levels may not be so clear on the daily but are obvious on the 1hr/4hr charts, usually with an fta not far off. I'll trade these with a single entry as close to the zone as possible with a reasonably tight stop (generally a good distance past the S&R) and take full profit at the fta or at the failure to push through the fta.

Example below from today, NU long. We couldn't bust through the fta and I ended up closing for peanuts.

2) daily/weekly first time back/S&R bounces. these levels are the big, no brainer levels. I tend to scale in, entering just before, at and perhaps a little past the level with stops a good ways past the S&R. I put quite a bit of faith in these levels and like to give the trade room to breathe. While the larger stops ultimately hurts my risk/reward level, my confidence in these levels means 1:1 risk/reward is plenty acceptable.

Example below from mid September, eur/cad, major daily level I shorted. Can't provide fxtrade screenshots on this one (too far back) but scaled in for about 2.5lots and averaged 80pts by the time I was out.

Managing trades is still a work in progress for me, especially with the smaller 1hr/4hr setups. I have a hard time closing out at fta only to see it run...but find often times, fta is about the end of the line for these smaller setups. I don't know...I need more time to figure out how to handle them. I tend to try and stick to the bigger setups though, thus not getting as much live trade time on these smaller ones. This morning's NU long was a nice, clean setup though.

As for the larger trades, my trade management is sufficient.

Hope this helps.