Posts Tagged daytrading

Reader makes 200 points trading Crude Oil after reading Make Me Some Money – Don’t Do it!

Reader makes 200 points trading Crude Oil after reading Make Me Some Money - Don't Do it!

I want to start off buy saying that I receive a message from a reader today, it read "Hi Alan, I saw your analysis of the Crude Oil market on Friday and decided that it was a good time to get in so I went long. I got in at 84.05 and when the markets opened on Sunday, I was already 200 points up! I took profits! Thank you so much!" The first thing I want to be clear is that my analysis is not a recommendation to trade.. it's purely educational and if you do trade, it is off your own back! As y

June 11, 2012 No Comments Full Story

USDCAD trade update

USDCAD trade update

My USDCAD trade got stopped out today which was very annoying.. it was clipped by a mere 10 pips and then reversed up 100 pips! UGH! Frustrating to say the least but there you go!

June 11, 2012 No Comments Full Story

Pinbar setup on the USDCAD Daily chart

Pinbar setup on the USDCAD Daily chart

A pinbar usually shows strong buying or selling. That, alongside the direction of the trend is usually a good entry to get into a trade. I went long the USDCAD on the break of the high of the pin at 10296 with the stop at the low of the pin at 10210. Therefore I am risking 86 pips. I would like to target 2x risk which gives me a target of 172 pips but as a minimum, I would see what happens when (and if) my trade reaches 86 in profit. The weekend is here and I'm going to let the trade run it's

June 8, 2012 No Comments Full Story

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