Trading Signals for EUR/USD on Tuesday, September 03 2013

Hello, I did not post yesterday, because there was nothing new that happened, except for one of the Gold entries closing in losses.

With that one closing in red, my count for gold entries touching stop loss has come to 3.

Though luckily, with all 3 my stop loss was very small; which I have even covered up with scalping on the EUR/USD pair. 

Now moving forward, I am just with 3 open deals in my trading account. One closed today for a massive 100 pips, which I even updated on my twitter.

The major news coming up for today is the Manufacturing PMI of the U.S.A. It will be released in next half an hour from now.

That one news will affect the market hugely.

Though I do not fear its outcome, because my account is well endowed with margin due to the pips that I successfully gained the last week.

As far as my feeling goes, the market will go a little up. I say that because my Dollar Index suggests so. If not, then also I will make profits.

Dollar-Index-03september-2013

Without wasting more words and time, I come up with my signals as follows:

Sell EUR/USD at 1.3251 for a profit of 50 pips.
Buy EUR/USD at 1.3149 for a profit of 50 pips.
Sell Gold at 1419.9 with a stop loss of 1424.9 and gain of 1404.9
Sell Silver at 26.001 with a stop loss of 26.501 and gain of 24.501
Buy Gold at 1365.1 with a stop loss of 1360.1 and gain of 1380.1
Buy Silver at 22.499 with a stop loss of 21.999 and gain of 23.999

With all this I suppose you too have a happy trading day and life ahead.

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Trading Signals for Tuesday, July 02 2013

an-example-of-bear-trend

Hi,

Today it is the second day of the trading week in this new month and till now I have not gone either long or short in a big way.

That is because the 4H chart itself seems indecisive right now.

And as you would know by now, I stay away from shaky trading and shaky signals as well.

Therefore, I am still continuing with the wait and watch strategy today too.

By saying that I do not intend to say that one should not trade at all.

All I mean to say is I am not going in for taking larger pips like the 50 and above like I normally recommend.

I have gone through the news forecast as well. And looking at it, it suggests that today also it is going to be a smooth day as far as the EUR/USD market is concerned.

If you know me and my trading pattern, then you know that I would be utilizing the side-ways moving market trend by getting into scalping.

Absence of no new major news forecast coming up in the day is always an excellent opportunity for getting into maximizing big profits in big sized deals by closing in small pips.

Just remember by scalping rules and make up or gain as much pips as you can.

Have a happy trading day and a life ahead.

Trading Signals for Monday, July 01 2013

PMI-example

Hi,

Welcome to a new month, with a new week and also a new trading day.

I am not coming up with any new recommendations for today, considering it is just a Monday; and also the 4h chart is not showing anything definite. Hence, my earlier recommendations that I gave last week can be cancelled in today's scenario.

Though it is an almost no big trading day, but it is rather a good day for scalping.

I say so also because there is no big news coming today, except for the ISM manufacturing PMI.

This news will be coming at 2 pm GMT on this day. That is one news that can make you avoid your scalping half and hour before and after its release.

It is because such important heavy weight news could heavily affect your scalping deals.

Hence, I always advise to follow news whenever you are on with scalping.

Apart from that it is just a day to wait and watch to come up with a long term strategy tomorrow.

Till then have a happy day and life ahead !!!

How to do Scalping for profit

Scalping is one of the many techniques used by traders to earn bucks in Forex trading. Though I use it rarely, but I know many traders who use it successfully to earn huge profits.

I used it extensively last week, because I ended up losing 200 pips last week, hence I did scalping to recover
as many as I could. I ended up gaining 15 pips by this technique.

I know it sounds a little confusing because if I hardly earned a few pips by Scalping, then what is the point using it as a strategy when it hardly made me gain just a few pips.

So, now I come up with the secret of this strategy. Though scalping involves earning just a few pips, but the deal size is kept on the higher side, which makes one earn huge profits.
 
Basically Scalping involves opening a lot of deals, but closing them at just 1 pip of profit.

I know it sounds too easy and cool, but it makes more sense and profit when the deal size is kept on the higher side.

Now you must be thinking that when it so cool and easy a technique then why I do not practice it myself.

It is because it is a like a double edged sword. Yes, it does give great profits, but it could lead to huge losses if not done correctly.

Come to think of it logically, Scalping is not done with the long term charts in view, hence could prove really harmful and loss inducing if not done with precaution.

Since the deal is of huge size in scalping, therefore it could lead to losses if one has not mastered the logic of Scalping.

Scalping-Chart

So here I list few pointers that could help in using Scalping for profits:

1. Scalp on a pair that you are truly comfortable with, do not use it on a currency pair that you have just started anew.
2. Set a target for scalping, like 10 scalping deals in a day, and stick to the target.
3. Do not delve from that scalping target irrespective of profit or loss.
4. Though the profit is set of 1 pip, but I generally keep a stop loss of 100 pips.
5. I am happy to admit that no scalping deal of mine has never touched the stop loss.
6. The point above is possible because I follow my chart strategy religiously.
7. My chart strategy is to follow 1 minute chart on the Stochastics.
8. The moment Stochastic lines touch an end, I trade to earn 1 pip profits.
9. I generally risk 20% of my equity in scalping, but one should be super careful.
10. Do not scalp at the time when a big news is on its way.  

Hope you also earn a big time Scalping, but as always do not over-do it and practice it well before you go gung ho on it.

Apart from it enjoy your weekend and have a happy trading day from tomorrow.

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Trading Signals for Wednesday, June 26 2013

Hi,

I know I am posting late, it is because I was again waiting for my entries to show something definite.

And that happened, my buy entries at 1.3099 and 1.3149 both hit the loss by touching the stop loss levels.

So, I am in a good loss this week.

My accumulated losses for this week now amount to 300 pips. I know that comes as a big one, considering all the profits that I made last 2 weeks, all have been wiped out.

So, the current situation of my account is as follows:

Open buy entry at 1.3049, which is as of now in a loss of 50 pips.

Another buy entry at 1.2999, which has just open.

Now coming to the action plan to recover the losses, I have kept another limit order at 1.2949 with a stop loss of 100 pips and a profit of 50 pips.

But apart from that, I am on with my humble resource of recovery from losses. Scalping.

Will talk about this later this week.

Till then I wish you a happy trading and a happy day ahead...