TradeProfits

Beautiful Breakout – Pullback – Continuation Setup

Posted on 17. Jan, 2011 by Moderator.

Alright so we were a bit too fast pulling the trigger on a short on EUR/USD. However, after making the final spike up last Friday, we now broke the range (which also somewhat has the formation of a typical head and shoulders) to the downside and are slowly pulling back a bit here. We could be setting up really well for a possible short around 1.3325 on EUR/USD which would be a pullback all the way back to the break of the range. Now as always, you don’t want to jump in at the second you hit that level, but wait and see how the pair is reacting to that level. If there is any kind of momentum, we want that to fade, and get some kind of indications of potential downside. Keep your eyes on general dollar strength or weakness and take it from there. At a full pullback we are setting up, once again for a really favorable risk:reward setup. Let’s see what the rest of the day brings. Click the picture below.  Read more... (176 words, 1 image, estimated 42 secs reading time)

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Trading Contest with MyFxBook

Posted on 18. Oct, 2010 by Moderator.

MyFxBook hosted a trading competition some months ago and now they are back, ready with a new one where you can compete against other traders on a demo account and win cash prizes if you are a skilled forex trader. The contest will begin on October 25th and last for one month. Winners (top 3) are those with the highest percentage gain at the end of the contest period, after liquidation. $3,500 in total prizes will be given out. $2,000 for first place, $1,000 for second place and $500 for third place. All you have to do in order to participate is to open a demo account with FxOpen and connect it to your MyFxBook account. Participating accounts start each with a $100,000 balance. Accounts are blocked from trading before the competition starts. Registration ends at 10/23/10 07:00 EST so you still have a couple of days to get started. If you spend the entire day, day trading the forex market anyway, why not sign up for this competition. Read all the details here.

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Profit Mongers – Friday Trading Signal 10-08-2010

Posted on 08. Oct, 2010 by Sir Pipsalot.

With Employment figures set to dominate the price action today, I’m going to hold off on my typical overview of currency trends.

In news Thursday, the BoE did not make any move towards additional QE, and the GBP/USD launched 60-80 pips higher until toppish/reversing price action on EUR/USD helped pull it back down. In news Friday:  Read more... (665 words, estimated 2:40 mins reading time)

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Profit Mongers – Thursday Trading Signal 10-07-2010

Posted on 07. Oct, 2010 by Sir Pipsalot.

Hey folks,

I’m all out on EUR/USD and on the sidelines for now. There’s some very strong USD weakening flows, but EUR/USD is so overextended, it’s very overdue for a plunge. I took a shot, but it didn’t work out. Anyhow, next likely target for EUR/USD is 1.4043 and it’s likely to get there today.  Read more... (593 words, estimated 2:22 mins reading time)

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Profit Mongers – Friday Trading Signal 10-01-2010

Posted on 01. Oct, 2010 by Sir Pipsalot.

Hey folks,

I’ve been dealing with a nasty cold that’s put me under the weather, so my trading this week has been pretty minimal and I always find it tougher to spot trades and handle them properly when I’m sick. Instead of skipping my signal today though, I’ll just leave all of the trend and biasing stuff out of it and give you guys a preview of Friday’s news:  Read more... (425 words, estimated 1:42 mins reading time)

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Download 3 Free Webinars with Henry Liu

Posted on 29. Sep, 2010 by Moderator.

Henry Liu is about to re-lunch his MasterMindMentoring program and as a sales pitch, he has hosted a couple of webinars in the recent days, and now you can download them all, for free. I have watched all three of them are there is some quality content in there. So even if you don’t plan on buying his program, I still suggest that you take a couple of minutes to check it out. In the first webinar, he talks about news trading, and that it´s still possible to trade fundamental news in a couple of different ways – For those of you who think Henry Liu solely has a focus on spike trading, you are wrong. Actually Henry almost never spike trade. Then he tells you a bit about how his trading approach is, and what he uses in order to get in and out of a trade. He also gives you a bit of information about the market cycle, which is, in my mind, some very good stuff, and something I apply in my own trading. He then talks about the three news trading methods, and exactly how he goes about this in real live trading. You get all the specific details and lots of other valuable information. In the second webinar he is going into more details about everything covered in the first webinar and more information about fundamental trading in general. In the third webinar he explains the details of sentiment trading and details about pre-news trading, how to determine an entry point and which news are worth taking into consideration for a pre-news trade. All in all, this is some very good stuff, and it is free of charge. Check it out here. Please share your thoughts below.

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Free Currency Meter From Huskins

Posted on 27. Aug, 2010 by Moderator.

Huskins is a well-known face over at ForexPeaceArmy, both with reviews on his on service (which is rated 5 star with a total of 84 votes) and with his active posting of reviews on others services. I have been with Huskins for a long time, pretty much since the beginning where everything was managed through a Google group (always as a free member though), and I have continuously been impressed with his honesty and no-bullshit approach to forex trading. Judging solely from the free information I have received from Huskins I really think he is a skilled trader with a lot of discipline, and even thought I have not tried his live trading room, I think it is safe to say that this might be one of the better options out there. Anyway, back to the topic of this post; Huskins has been working on a currency strength meter, somewhat similar to the one made by Henry Liu, but this one is made in a more visual form, and as Huskins is looking for beta testers, you now have the possibility of trying his currency meter for free. You can check out Huskins service right here, and you can grab a copy of his free currency meter right here.

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Currensee Trade Leaders

Posted on 13. Aug, 2010 by Moderator.

You have probably heard about the Trade Leader program from Currensee. The Trade Leader program allows people to “follow” other traders and get their trades auto-executed on one’s own platform. The Trader Leader program has been under development for some time now, and today I got an email from Dave Lemont (CEO of Currensee) and it seems like they finally are ready to open this service for all their members. Because of this, they will be hosting a couple of webinars in the upcoming days to explain all the details about the site and how it works. The first webinar will be today at 1.00AM GMT time and you can sign up right here. Hopefully I will have time to be around for this, as I really think that this is an interesting project with a lot of potential.

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EUR/CAD Signal – Update

Posted on 01. Jul, 2010 by Moderator.

I have recived a couple of emails from my readers, asking me if I was going to write a blog post about my signal which was send out to all my readers, on EUR/CAD. Let´s take a look at the details. First of all, I have pasted my email about the signal in below:  Read more... (517 words, 2 images, estimated 2:04 mins reading time)

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Profit Mongers – Tuesday Trading Signal 05-18-2010

Posted on 18. May, 2010 by Sir Pipsalot.

Try ProfitMongers Trading Room – Get a Two week trial for $29.95

Hey folks,  Read more... (554 words, estimated 2:13 mins reading time)

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