"Join Free. The Million $$$ Challenge
|
|
|
Last week I received over 40 LMT Forex Signals including 12 off the
daily charts. I personally took 12 trades, all of which were winners. Some only hit the 1st target and pulled
back and took out the 2nd lot at entry, but as I have explained often, I have found this to be the best way to
trade the LMT profitably.
I open 2 trades (divide your stake in half). I close the 1st trade at
the 1st target for a profit & then move the stop on the 2nd lot to entry. This makes sure I bank at least
some profit from the trade but then have a risk free chance at a much bigger move with the 2nd part of the
trade. Risk free trading is nirvana for forex traders !
M y note taking
has been atocious this last few weeks due to all the emails and admin to do with the blog. Whilst at the
same time trying to trade my own accounts (+ daughters micro account)!
Therefore some of the signal
TIMES that I state below may be wrong. I did get a signal
but I am not 100% sure of the times.
Please don't email me saying that "I cant see the wednesday 20.00 hour signal on
my charts", because I might be wrong ! I am trying to implement a better, more accurate system for this coming
week.
I will try to find
the time to post more regularly during the week and wherever possible before the close of the daily candle my
thoughts on what might happen, which trades are none starters and which of the possibles are most likely to be
the best to take.
I have had days when 6/7 trades have come at once. if i had waited until they arrived i would not have had time to get many trades placed before price moved. as I said in one of the articles below it is vital in forex that you plan the trade ahead and then trade the plan.
The important part is there
were over 40 signals (including12 daily) off the 2 platforms.
All times are actual times I received them BST = Gmt +1 (not
what platform says)
Monday 8th 6.00 am Forex meta: euro, chf, jpy,aud,nzd,cad 7.00 am Alpari uk:
jpy,nzd,cad
Tuesday 9th Daily : Forex Meta
gbp,euro,chf,jpy,aud,gbp/yen I also had 4 hour signals (not sure time): euro/yen, aud/yen, nzd/$
Daily :
Alpari uk: Chf, cad,gbp/yen, euro, gbp
Wednesday 4 hour Forex meta: 6.00 am jpy. 10.00 am: euro/cad 14.00 chf,cad,euro,euro/gbp 18.00:
nzd, aud Alpari uk: 15.00 nzd, aud, chf, euro, euro/gbp
Daily Forex meta: Gbp/yen
Thursday Forex meta : 6.00 am gbp, aud/jpy, aud * ( a friend of mine in mexico on same platform
at exact same time had 2 extra signals here) Alpari 15.00 euro7yen, aud/$
Friday Forex meta 06.00 am: jpy. 10.00 gbp/yen 18.00 DO NOT TAKE THESE TRADES LATE FRIDAY AS PER The LMT RULES:
euro/gbp, nzd/$, gbp,aud/jpy, gbp/yen
I made over 650 pips this week, JUST from the LMT. One of
you, Rob, made 820. He had never made that many in 3 months before! I am trying to find some kind of way to
verify my pips total for the doubters amongst you. My trades are spread over 3 accounts.
My priority at the moment is to make a living/pips and keep
up to date with the support. But I am getting better organised, just bear with me.
As i pointed out in this article
http://forex-fxtrader.com/If-Its-Raining
LMT-Pips-Where-Did-Mine-Go-.html, if
you are not getting the same number of signals, you need to copy what i am doing. Forex meta is obviously
giving me a lot more signals at the moment.
Simply download another free metatrader platform from forex meta and run 2 at the same time. Last week I posted an article
showing you how you can add fibonacci numbers to your charts and use them to give you clues where price is likely
to reverse/stop after a major move: http://www.forex-fxtrader.com/Forex-Trends-&-Double-Bottoms.html
. It is important that you learn this. This worked amazingly
well on numerous pairs this week. [caption id="attachment_480" align="aligncenter" width="300" caption="See how
price pulled back EXACTLY to the 61.8% fib line before resuming its downward direction"] The following $/yen example is even better. Remember I said that the more indications you have that price is going to head in a different direction the better. Here we had price rebounding off a 50% fib line (standard fib trade) at the same time as an lmt signal. [caption id="attachment_481" align="aligncenter" width="460" caption="$/yen example of fibonacci move on 4 hour forex chart"]
The
week ahead. Trade plan week commencing 15th June 2009
This research is taken from forex meta charts. This has taken me 5 hours today and my wife is going nuts. You need to learn to do this for yourselves. It is also more detailed than you need. But hopefully it gives you an idea of the planning and thought processes that go through successful forex traders minds.
gbp/$ No. There is a quadruple top on the 4 hour chart. Price could
move sideways for a few days. We need price to either break through for continued direction or bounce off for a
pullback to give an entry late in the week
euro/$. There is the possibility of a trade in the next few days. Keep
your eye on it. Price currently stuck between 1.4133 & 1.3930 area
chf, jpy/$, aud, NO euro/yen Possible tuesday. But lots of rejection 138.00
area/sideways at moment gbp/yen NO, but broke through double top at 160.65 area. We need a pullback Aud/yen same as
above, broke top at 79.50 area cad & euro cad. I am still avoiding at the moment Euro/gbp. possible pullback up
if mondays candle closes green. Will be against the trend on a daily, but could give us a 4 hour signal $/yen has
no signal, but price broke above 200ema on daily at 98.00 area. Various yen pairs as i said above have broken
through upwards resistance. We could see lots of movement this week, BUT stick to your lmt
rules. Daily Charts (remember
if you only have time to trade the daily charts, check the 4 hour charts at the same time. Sometimes there are
signals on the 4 hour that are not on the daily).
If
you are here from an invitation from me on the forum at traders secret library or twitter and you would like to
receive a copy of my advanced lmt rules and be included in future updates please email me:
marc@forex-fxtrader.com
|
© Copyright forex-fx trader.com, 2009. All Rights Reserved.