Closing Out the Australian Dollar/Japanese Yen Trade

In today’s video I recap the Australian Dollar/Japanese Yen trade that I’ve been short since June 16th at an average price of 80.71. I basically moved my stop right above yesterdays engulfing pattern in case of a big move to the upside to not only lock in some profits, but to save my hide in case of a huge move to the upside. As you can see on today’s video (and by looking at the daily chart of the Australian Dollar/Japanese Yen = AUDJPY) the market took off to the upside and I’m out of the trade and currently flat. I hope you enjoy the video and are able to learn from it. I will be out of the office until next Friday so I hope all of you not only have a great weekend but a safe and happy 4th of July!

Continue reading

What Goes Down …

Good Morning, Friends, Yes, even the poor, beleaguered Euro is having an upside day. The FX market, although convinced that short was fundamentally and technically the correct way to go, was on hair-trigger alert for any positive news from the EU Summit. There will be arguments as to whether the policy decisions were correct, or […]

Continue reading

3 E-Mini S&P 500 Futures Trades and the Aussi Japanese Yen Trade Update

In today’s video I want to show you three real nice E-Mini S&P 500 futures trades that netted a profit of 4.75 points ($237.50 per contract) by 11:00am ET that I think you can learn a lot from. I would also like to update you on the short Australian Dollar / Japanese Yen trade that I started initiating on June 18th. As you recall I’m short from an average price of 80.71, this trade is at a point where I was just able to move my stop down to 80.61 (locking in 10 pips – I can’t lose on this trade now, it’s a ‘free trade’). You will see in today’s video exactly why I’ve been able to move my stop down to lock in a guaranteed 10 pips, making this an absolute ‘free trade’. Have a great day and I hope today’s lessons help you in your own trading.

Continue reading

USD/CAD; What’s Next?

Since my post this morning was a bit anecdotal, I thought that I’d offer a chart that shows how well the techniques that Todd teaches work across asset classes and timeframes. That’s because his work is based on the psychology of traders as they interact with markets; the balance of fear and greed is a […]

Continue reading

FX Bits & Pieces

Good Morning, Friends. Tomorrow marks the beginning of the latest in a long string of Eurozone summits, and we continue to see quick, nervous reactions to headlines, most of which are from politicians floating trial balloons, or popping those sent up by others. It’s going to be tough to hold positions over the next couple […]

Continue reading

Let Me Show You Two Very Good E-Mini S&P 500 Futures Trades with a High Probability Price Pattern

In this video I want to show you two trades using a very high probability price pattern that you can use in your own trading immediately. This price pattern can be used in any market and any time frame, not just the E-Mini S&P 500 futures market. This trade set up is very simple to use and the risk to reward relationship is high. Have a profitable trading day and I hope it helps you in your own trading.

Continue reading

Logical Profit Objectives for the Australian Dollar / Japanese Yen Short Trade

On today’s video I give you a thorough analysis of the trade management on the Australian Dollar / Japanese Yen short trade. The great thing about this trade right now is that I’m only risking 88 pips off a daily chart to make 190 pips, and that’s only the first profit objective. The second profit objective I’m looking to make 268 pips and the third profit objective I’m looking to make 313 pips. As it stands right now the trade looks pretty good, we’ll just have to wait to see what happens…it really boils down to having patience and discipline and sticking with your rules. Have a great day and I hope this helps you.

Continue reading

An Update on the LIVE Australian Dollar / Japanese Yen Forex Trade

On today’s video I give you an update on the live Australian Dollar / Japanese Yen FOREX short trade. It’s definitely looking good so far, being able to move the initial stop loss down from 83.34 to 81.59. As you recall I’m short from 80.71 with three logical profit objectives being down at 78.81, 78.03 and 77.58. Currently the market is trading at 79.48 so we have a paper profit so far of 123 pips…let’s see what happens on this trade. Have a great day and I hope this video helps you in your own trading.

Continue reading

Time for a Fresh Start?

Good Morning, Friends. Yesterday was a challenging day for those long of equities, most currencies not named “U.S. Dollar”, and metals. Now, it’s Friday, there are plenty of headline risks next week (particularly the Jun 28-29 Eurozone leaders’ gathering), and there wasn’t much followthrough overnight; ES futures as I type are up 6.50. It appears […]

Continue reading

Australian Dollar / Japanese Yen Forex Trade Update and E-Mini S&P 500

In today’s video I go through the Australian Dollar / Japanese Yen trade in great detail because I just entered a second position to the downside at 81.54, bringing my average cost of this short trade to 80.71. My initial stop loss is at 83.34 and my first profit objective is at 77.57. Let’s see what happens on this trade. I also briefly go through the E-Mini S&P 500 futures daily chart to show you what I expect and what I’m seeing. I will be out of the office tomorrow (6/22/2012) so there won’t be a trading video. Have a profitable trading day and I hope this helps you in your own trading.

Continue reading