Trading Insights

Achieving consistency in trading is much easier said than done. By creating a process and setting trading rules for yourself, you can achieve consistency in your execution, which is the first step to becoming a consistently profitable trader.

Soon after I posted my trade idea, news came out that the books from Ireland banks would be examined to see whether or not they can handle the debt load. This bit of news seemed to have calmed the markets down enough to spark an unwind of USD positions and a EUR/USD rally.

If you think about it, it’s pretty clear why AUD/USD shot up so quickly. It’s just a pity I wasn’t able to join the party!

Boo hoo! I almost got a potential signal but Stochastic is already over the 80 mark! The next candle also hasn’t shown signs of hitting the 30 pip filter as well.

On the canvas today: basic support and resistance levels, channels, and Fibonacci retracement levels! See them all in today’s chart art!

Bummer dudes! Unfortunately the market reversed and moved back up today. As a result we took a couple of hits. Keep surfin though dudes and dudettes. We’ll catch some gnarly waves soon for sure! See how it all went down in today’s Cowabunga Surf Report.

I’ve pulled out all the tricks today! I’ve got Fib lines, trend lines, and a descending channel – check it out!

Unfortunately our winning streak, although short, ended today as I took a small hit of 19 pips. See how it all went down in today’s Cowabunga Surf Report.

If yesterday’s Dow Jones pullback could have been used as an indication to the risk aversion seen today, then I feel traders would have much more aggressively shorted the EUR/USD and the AUD/USD earlier in the day and as Europe and the U.K. opened.

Before you hit the club for that mid-week party, make sure you get your pre-game on by having a sip of some of my concoctions! Here’s a look at USD/CHF, NZD/USD, and EUR/JPY!

It was another good day for me as the Cowabunga System helped me grab over 50 pips today. See how it all went down in today’s Cowabunga Surf Report.

My trade orders were triggered as the Greenback rallied against the majors on a renewed focus on European debt issues. Unfortunately for my trade, and the EU, these worries have intensified, pushing USD/CHF to my stop out level.

Need to get your FX fix? No worries – I’ve got just the thing for you. Today, I’ve got EUR/CAD, EUR/CHF, and AUD/USD! Check it out!

I still feel like I am waiting – like last week – for the dollar to make up its mind. The move higher on the U.S. Dollar Index has found some momentum and near-term support above the October highs, but continuation would mean an uptrend and I’m not convinced that there is enought bullishness for that…yet.

Unlike some of the previous Monday’s we’ve had in the past couple of months, today was a good day for the Cowabunga system as it helped me grab over 40 pips today. See how it all went down in today’s Cowabunga Surf Report.

It’s time for a trip to Europe once again! On today’s canvas: EUR/USD, EUR/GBP, and USD/CHF. Check ’em out folks!

Ever find yourself in the middle of trading, frustrated because you aren’t doing well? Do you find yourself bending your rules and taking a trade you otherwise wouldn’t take? Here are three tips to help you overcome impulse trading and develop good trading habits.

Oh phoeey! It looks like EUR/USD is starting a new downtrend but I’m not in it – my trade signals didn’t all line up!

It’s a major party over at my daily chart art! That’s right, I got three major currency pairs on the canvas today so go check ’em out!

Unfortunately the Cable continued to be choppy and we took a small hit today. Remember to stay disciplined and to continue following the rules and when the market turns we will be ready to grab as many pips as we can! See how it all went down in today’s Cowabunga Surf Report.