Trade Ideas

Well, it looks like we got bit on this trade last night. My orders got triggered a little after midnight and a couple of hours after the European session opened we saw a drop in the Euro and the trade stopped out. Now, on the chart review, I pointed out that the trade worked after …

We have the biggest short term, market moving report, US Non-Farm Payrolls, tomor row morning at 8:30 am EST. Tonight’s pick is going to focus on that event. Before I talk about the Pick of the Day, I’d like to remind everyone that this is the most volatile and dangerous report to trade. We’re still …

I have a couple of thoughts that went into consideration for tonight’s pick. First, we had the Japanese Finance Minister Sadakazu Tanigaki comment that the movements in the currency markets as of late may be excessive after the G-7 announced that Asian countries should allow their currency to strengthen. Also, we have an interest rate …

As stated, in my Pick yesterday, I placed my orders at 8:00 am EST. We did see movement after the Factory Orders report was released, but not enough to trigger the trade recommendations. Hopefully, everyone followed the Pick recommendation and waited until 8:00 am EST before entering orders, otherwise you would have been stopped out. …

Tomorrow morning we have several US economic reports coming out. I’m going to focus on the Factory Orders report at 10:00 am EST, so I will place my orders at the beginning of the US trading session at 8:00 am EST. The consensus number is at about 4.0% with the previous at 0.2%. Quite a …

As anticipated we saw strong numbers out of the UK manufacturing sector which caused a rise in the pound against the yen. At about 3:00 am EST, our entry price was triggered, and nearly hit PT1 before it moved back down below our entry. After the report was released the pound just shot straight up …

Early tomorrow morning at 4:30 am EST the UK Manufacturing Purchasing Manager’s Index (PMI) is being released. It is a leading indicator of the manufacturing sector, and its consensus number is around 51.5. Any number above 50 is an indicator of an expanding manufacturing sector. Hopefully, we can catch some pips from a potentially volatile …

As you can see we had a pretty go month in April. We’re finally seeing breakouts and trends form in the currency markets as the US dollar is starting to weaken. If you remember, I had technical difficulties the second week of April, so we only had one trade. Who knows what it may have …

At about 7:00 am EST, I saw that the pair was already below my entry level, so I waited and entered manually at 1.2525. Afterwards, the quarterly GDP was released. At first, the pair was slow to move down, but then picked up some steam. PT1 and PT2 was easily hit by 10 am EST. …

Well, we had a pretty good week. Hope everyone caught some pips with me! Good luck trading this week. Monday +20 pips Tuesday -40 pips Wednesday +9 pips Thursday +50 pips Total: +39 pips

Well, Big Ben spoke and the market listened. After he commented on a possible rate pause in the near term we saw a sell off in the dollar. This triggered our order, and unfortunately we caught the last leg of the move. Our position never PT1 and so I closed the trade out at 5:00 …

We have US quarterly GDP coming out tomorrow at 8:30 am EST. Today’s pick will hopefully capture some pips off the potential volatility of this report. Now the consensus number is at 4.9% which is a lot higher than the previous number at 1.7%. Obviously if the number is lower than expected we will see …

Today’s pick is based on general fundamentals and the trend. We all know the loonie and other “commodity” currencies have been on a tear against the US dollar. Even with oil slightly pulling back from record highs, we still saw the loonie gain some ground against the greenback. Along with commodities, we see interest rate …

Well, we had our first big losing day in April…hopefully it won’t be a recurring thing! As expected, UK GDP came out as expected at 0.6%. We saw a move in the pair and it triggered our short entry. The position was up as much as 20 pips before it reversed and stopped us out. …

Cable has been stuck in a range for the past ten days which means that traders are waiting for something to move the pair. Hopefully, UK GDP will be the catalyst for a strong move and break the pair out of the range. At 4:30 am EST, UK first quarter GDP will be release with …

We saw the Bank of Canada raise rates as expected. Traders sold off the pair which caused our entry order to hit. PT1 was hit within the hour, so we moved the stop to break even on the second half of our position. Unfortunately, the second half of our position stopped out at breakeven and …

Welcome back to another wonderful week of forex trading! Hopefully, we can catch some pips this week and continue the streak. Here is today’s pick: Well, the US dollar has been beaten up across all currencies for the past, including the loonie. Today’s pick is in hope that we will see continued weakness in the …

As you can see from the chart the loonie made a strong move which triggered our trade and within the next hour hit PT1. Closed out one half of the position and moved stop to breakeven for the other half. Unfortunately, the other half was stopped out within the next fews hours. We netted 17 …

Well, we had a pretty good week. Hope everyone caught some pips with me! Good luck trading this week. Monday +14 pips Tuesday +82 pips Wednesday -7 pips Thursday +17 pips Total: +106 pips

The loonie has been on a nice run against the dollar, and I think with the pull back it is a nice time to go with the trend and rising commodity prices! Short USD/CAD at 1.1377, stop at 1.1429, PT1 at1.1360, PT2 at 1.1320 Remember to close half of position when the first profit target …