http://www.babypips.com/blogs/pick-of-the-day/ Each day, I will try to find what I believe is the best looking short term trade setup for the upcoming trading day or week. If you're a forex newbie, it can be tricky in the beginning trying to figure out how to look at charts and draw lines. My goal is help you understand the psychology of price movements so you can learn to analyze your own charts and trade on your very own. I will post my ideas and/or reviews through out each session right here, on Twitter and on Facebook. Read First: My Trading Framework!! en Copyright 2012 Tue, 31 Jan 2012 14:19:54 -0500 http://blogs.law.harvard.edu/tech/rss Good afternoon! Both of my short positions triggered during the European trading session, and I was lucky enough to get the price action I had hoped for. But did I execute well? http://www.babypips.com/blogs/pick-of-the-day/flipping_back_to_short_eurusd.html http://www.babypips.com/blogs/pick-of-the-day/flipping_back_to_short_eurusd.html Tue, 31 Jan 2012 14:19:54 -0500 While we didn't see much follow through in price action during the Asia session, the European session traders were ready to jump in the momentum sparked by the Fed yesterday. Unfortunately there was no pull back higher for USD/CHF and no trade for me. http://www.babypips.com/blogs/pick-of-the-day/usdchf_dowtrend_to_continue.html http://www.babypips.com/blogs/pick-of-the-day/usdchf_dowtrend_to_continue.html Thu, 26 Jan 2012 15:15:08 -0500 Good afternoon forex friends! It looks like potential support area was tested and held during the European trading session, but with the weekend quickly approaching I've decided to close up shop for the week. See how the day played out... http://www.babypips.com/blogs/pick-of-the-day/one_more_push_higher_for_the_e.html http://www.babypips.com/blogs/pick-of-the-day/one_more_push_higher_for_the_e.html Fri, 20 Jan 2012 15:50:34 -0500 Good afternoon! As I expected, we did see a good amount of volatility after a very slow Monday trading session. But it wasn't only UK data that moved the markets, China and Spanish bond sales played a nice role too. Check it! http://www.babypips.com/blogs/pick-of-the-day/my_day_trade_to_play_uk_cpi.html http://www.babypips.com/blogs/pick-of-the-day/my_day_trade_to_play_uk_cpi.html Tue, 17 Jan 2012 15:55:37 -0500 It's Friday the 13th, and while the Eurozone's luck may have run out with S&P today, it was all good for my short trade EUR/USD. Check out how it all went down! http://www.babypips.com/blogs/pick-of-the-day/giving_eurusd_short_another_go.html http://www.babypips.com/blogs/pick-of-the-day/giving_eurusd_short_another_go.html Fri, 13 Jan 2012 13:46:36 -0500 Good evening! Thanks to Fitch and weak German data, it was big moves for EUR/USD today, but unfortunately my entry orders were missed by like two pips! Check it out... http://www.babypips.com/blogs/pick-of-the-day/looking_for_a_pullback_in_the.html http://www.babypips.com/blogs/pick-of-the-day/looking_for_a_pullback_in_the.html Wed, 11 Jan 2012 18:03:55 -0500 Good morning forex friends! With 2011 quickly winding down and trading pretty much a wrap for the year, it's time to do the most beloved (or hated) of trading tasks: reflecting on your trading performance. I'll share with you an example of how I reflect in hopes that it will help you do your own. Check it! http://www.babypips.com/blogs/pick-of-the-day/reflecting_on_my_performance_f.html http://www.babypips.com/blogs/pick-of-the-day/reflecting_on_my_performance_f.html Thu, 29 Dec 2011 09:00:39 -0500 Good morning forex friends! No luck on my day trade today as we saw strong euro buying and risk-on sentiment at the European session open. It looks like euro bears never stood a chance, and neither did my day trade. Check it! http://www.babypips.com/blogs/pick-of-the-day/bearish_price_action_on_eurusd.html http://www.babypips.com/blogs/pick-of-the-day/bearish_price_action_on_eurusd.html Tue, 20 Dec 2011 12:24:30 -0500 Good afternoon! It looks like Cable's behavioral tendencies that I mentioned yesterday played out like clockwork. Unfortunately, the market didn't pop high enough after the UK data to trigger my shorts. Grrrrrr! Check out Cable's price action today... http://www.babypips.com/blogs/pick-of-the-day/looking_for_a_day_trade_in_cab.html http://www.babypips.com/blogs/pick-of-the-day/looking_for_a_day_trade_in_cab.html Wed, 14 Dec 2011 17:40:51 -0500 As expected, we had a range bound day in EUR/USD, but with economic updates and major news reports, there was enough price action to trigger one of my trade setups and close it out. http://www.babypips.com/blogs/pick-of-the-day/sp_downgrade_warning_gonna_be.html http://www.babypips.com/blogs/pick-of-the-day/sp_downgrade_warning_gonna_be.html Tue, 06 Dec 2011 17:57:27 -0500 Good morning forex friends! And it's definitely a good morning for risk-on players as we saw a surprising string of catalysts, most notably the monster news of a coordinated central bank effort to provide liquidity to European banks. Unfortunately, this was not good for the Greenback... http://www.babypips.com/blogs/pick-of-the-day/will_usdjpy_continue_higher.html http://www.babypips.com/blogs/pick-of-the-day/will_usdjpy_continue_higher.html Wed, 30 Nov 2011 10:33:30 -0500 Good evening forex friends! It looks like volatility is slowing down a bit as we head into the holiday season, and EUR/USD is shaping up to be the best market to play a range if it is. Check it out! http://www.babypips.com/blogs/pick-of-the-day/holiday_range_on_eurusd_to_hol.html http://www.babypips.com/blogs/pick-of-the-day/holiday_range_on_eurusd_to_hol.html Wed, 23 Nov 2011 14:10:07 -0500 Good afternoon! It looks like my trade idea for this week is a "no-go" as European fears and weak BOE rhetoric continued to push capital into the Greenback without a hiccup. Check out how it all played out in Cable this week. http://www.babypips.com/blogs/pick-of-the-day/is_the_range_broken_on_cable.html http://www.babypips.com/blogs/pick-of-the-day/is_the_range_broken_on_cable.html Thu, 17 Nov 2011 15:15:57 -0500 Good afternoon forex friends! I left my open orders to short Cable on past Wednesday's trading session as I thought the setup was still valid, but maybe a little early. Today, Cable pulled back as hoped, but it looks like Dollar bulls are way too strong... http://www.babypips.com/blogs/pick-of-the-day/day_trade_short_on_cable.html http://www.babypips.com/blogs/pick-of-the-day/day_trade_short_on_cable.html Thu, 10 Nov 2011 15:55:17 -0500 Good afternoon! It looks like the price action played out pretty much as I had hoped as the pair did have a chance to retest my area of potential resistance. Check it my trade review for more. http://www.babypips.com/blogs/pick-of-the-day/a_euro_trade_ahead_of_draghis.html http://www.babypips.com/blogs/pick-of-the-day/a_euro_trade_ahead_of_draghis.html Thu, 03 Nov 2011 13:10:34 -0500