Monthly Archives: January 2009
A Good Reminder
| January 31, 2009 | Posted by admin under Intro to Trading, Techncial Analysis Tutorials |
The following is an article I found which is a good reminder to keep things simple. I generally just use price as an indicator, coupled with chart patterns (past prices). Although occasionally I refer to an RSI or price overlay for confirmation. Here is the article…. Trading Analysis Pitfalls by Ginny Fairham It is very…
How to Use the Free Forex Signals
| January 29, 2009 | Posted by admin under Day Trading Ideas |
-I definitely have short term day trader blood in me, this means I am looking for relatively quick gains. Thus the trades I look for are at levels where I expect movement to happen quickly in my favor. This sometimes has a slingshot effect in the opposite direction, especially at the market open. For this…
EUR/USD Signals
| January 29, 2009 | Posted by admin under Day Trading Ideas |
The Following are for the European session. The market is in an interesting spot here. So I am going to give two different trading signals. SELL between 1.3120-1.3130. Stop should be small, only 20 pips or so. First profit target 1.3040, then 1.2980 Alternative: SELL at 1.3174. Stop at 1.3130. Same Profit targets as above. …
EUR/USD signals
| January 28, 2009 | Posted by admin under Day Trading Ideas |
The following are signals for the European session and may run into the US session for January 28. Yesterday saw signals on both sides of the market fail as no definable trends developed. In the current short term range be cautious of taking large position until a trend has reemerged. BUY at 1.3271. Stop=1.3221. Profit…
Million Dollar Traders By Harvey Walsh
| January 27, 2009 | Posted by admin under Intro to Trading, Techncial Analysis Tutorials |
There’s a great show on British TV – Million Dollar Traders. There are two very important lessons that every trader must understand, that have been perfectly illustrated in this documentary, and I want to discuss those here. Any trader who doesn’t understand these lessons is doomed to fail, just as many of the traders in…
Stock Market Analysis – Tight Range
| January 27, 2009 | Posted by admin under Stock Market Analysis |
The Dow Jones average has slipped into a short term range, but the breakout could be significant – especially to the downside. Currently the Down Jones average is ranging between 7900 and 8300. While volume was edging higher to form a possible bottom in the market, volume has normalized and has fallen off the recent…
EUR/USD Free Forex Signals
| January 27, 2009 | Posted by admin under Day Trading Ideas |
The following signal can be used for the start of the European session but may lead into trades during the US session for January 27. BUY at 1.3245. Stop=1.3190. Profit Target=1.3345, 1.3400, 1.3450. SELL at 1.3189. Stop=1.3245. Profit Target=1.3155, 1.3115, 1.3030 Some trades like to pull in stops, others like to leave trades as is. …
EUR/USD signals
| January 26, 2009 | Posted by admin under Day Trading Ideas |
Buy at 1.2952. Stop=1.2912. Profit target=1.3020, 1.3060 OR Sell at 1.2911. Stop=1.2952. Profit target=1.2870, 1.2810 As soon as you are onside in the trade by 30-40 pips. Bring in your stop to breakeven. As the trades develop I will post updates in the “comments” for each signal. These comments will provide updates on where to…
Eur/USD Signals
| January 23, 2009 | Posted by admin under Day Trading Ideas |
If the price for this pair drops below 1.2919. Sell. Profit Target=1.2855. (if you feel like holding then 1.2760, then 1.2640) Stop=1.2950 If the pair rises above 1.2980. Buy. Overall trend is down, so be careful. Preferably watch trade. Profit Target=1.3010 (if broken then) 1.3060. Stop=1.2970 (may want to give a few extra pips) Once…
Support and Resistance Tutorial
| January 22, 2009 | Posted by admin under Day Trading Ideas, Techncial Analysis Tutorials |
I start with these concepts because they need to be understood in order to use the day trading levels that I post each day. Support Levels are price points at which prices have had a hard time pushing down through in the past. In other words, a support level is a level where price stopped…
Day Trading for Thurs Jan.22
| January 22, 2009 | Posted by admin under Day Trading Ideas |
The SPY rallied back somewhat on Wednesday to close at 84.05, up 3.48. Here are the levels to watch on Thursday. Support Levels: 83.50, 82.85, 82.50, 82.10, 81.75, 81.15, 80.45 Resistance Levels: 84.25, 84.50, 84.75, 85.30, 85.55, 85.75, 86, 86.35, 86.50, 86.75, 87.50
Day Trading for Wed Jan. 21
| January 21, 2009 | Posted by admin under Day Trading Ideas, Stock Market Analysis |
We broke below major support on Tuesday. The SPY finished down 4.44 to close at 80.57. The only support below this level are the levels back from Nov. 20 and 21. The low from those two days is 74.35. If we fail to rally over the next couple of days, this low level is likely…
Overall Market View
| January 19, 2009 | Posted by admin under Stock Market Analysis |
The market is still very much in a ranging environment. This will likely continue for the short term. We have tested the recent swing lows from early December and have come back up off those lows. Volume is moving back up again after volume declined through the Christmas season. It is too early to tell…
EUR/USD Signals
These signals are for the European session. Please read the How to Use the Free Forex Signals post before using these signals. Sell at 1.2870. Stop 1.2920. Profit targets=1.2800, 1.2710