Cleopiptra

I outline the process I go through to see if the volatility is something that leads to a trade entry. You see I am not trading the volatility for the sake of the movement alone – I am MORE interested in where that price movement leads the pair.

These last two weeks my open trades list has been active. It’s easy to get caught up in simply managing the positions and not think about making sure that when I eventually scale out of these trades I will have others to enter and manage. That’s why it is so important to have an active RADAR.

I wanted to share my outlook on my current positions as well as what I am looking to add as the FOMC and RBNZ events approach. This is where I get ready for more volatility and deeper corrections of trends and price movement ranges on the higher levels of the hourly range.

Determining the clarity of a pair’s price movement before setting up a trade is key to reliable support and resistance reactions as well as the first step to pair, time frame, and ultimately entry strategy selection.

Learning what makes a pair less desirable to trade is a skill that every trader must know and with that in mind here’s a video I recorded today on that very topic.

Today’s Dow weakness did a number of things for me not the least of which is get me flat as I saw the YM (Dow futures) tumble through 13,100.

Oftentimes there is so much emphasis on the entry that the management is often not discussed enough and we all know that without a OLSID exit plan (stop loss AND profit targets) the wheels can fall off the wagon on a trade…

This is a webinar I recently did and I think there’s plenty here for both the new and experienced traders to benefit from. The idea is to be honest about mistakes I made very early on in my career and to share points that are not the usual “mistakes” that are often discussed.

I sound a little like Buzz Lightyear fro Toy Story but I don’t want anyone thinking that the trades I outline in today’s video are only for the RBNZ event…

Today in the Forex in the Morning chat, I had a question about “scalping” and how that fits in to a trader’s strategy. Ah, not an easy question when trying to categorize what market trend “scalping” fits into but it is a style that many traders employ so in this video I explain what it is and what environment it is best suited for!