Now that we have discussed the Two Necessities To Trade Successfully of what you need to trade successfully in part 1 of this series, it is time to get into part 2 of the series which is Developing the Two Traits. These are traits which you may not have at the moment, but you can totally develop with relative ease, a passion to be a successful trader, and with a… Continue
Added by 2ndSkiesForex on December 27, 2011 at 6:42pm —
A Brief Story
We had this one trader (we'll call him James) at the broker who had been trading a small mini account (about $3,000) for several years. James could consistently bring it to about $10,000 in a matter of months. As he got to $10,000, James would then take $7,000 out and start all over again, only to do it again and again.
Eventually we all noticed James's ability to do this. Some of the people on the prop trading desk checked… Continue
Added by 2ndSkiesForex on October 16, 2011 at 9:31pm —
Upside Technical Break Looks Set to be Coming Soon
Looking at the weekly chart on Gold (vs. USD), the sell-off from two weeks ago at the rejection of $1900 was impressive not so much in how much it dropped in a single week, but on how well it recovered. The following act in the next week was a solid weekly gain of 3.4% from an opening price of $1822 – 1864 closing towards the highs suggesting buyers were holding into the weekend and thus not taking profits. The following week was… Continue
Added by 2ndSkiesForex on September 11, 2011 at 10:45pm —
Tis not surprising the EURUSD is getting hammered today.
The Greek Fin. Min. has been playing defense today (oh wait, they've been doing that for months now)about the rumors spreading around Greece will default over the the weekend.
"Chancellor Angela Merkel’s government is preparing plans to shore up German banks in the event that Greece fails to meet the terms of its aid package and defaults, three coalition officials said. The emergency… Continue
Added by 2ndSkiesForex on September 9, 2011 at 4:12pm —
Wanted to share this from Economic Collapse giving some of the most scary quotes from inside the European financial and political leadership suggesting they all see the writing on the wall and the Eurozone is about to collapse.
The following are 20 quotes from European leaders that prove that they knowthat the financial system in Europe is doomed....
Added by 2ndSkiesForex on September 8, 2011 at 12:27am —
Anyone who happened to be watching $Gold over night during the Asian session might have noticed something odd when it dropped $45 in a matter of 12 minutes from $1875 to $1830. Not only is this an abnormal drop over such a short period of time, it happened during the Asian session which makes it a little stranger.… Continue
Added by 2ndSkiesForex on September 7, 2011 at 3:31pm —
We have just posted our weekly Forex Price Action Trade Signals and Setups
. To learn more about what trade setups we are watching, click on the link above.
Added by 2ndSkiesForex on September 7, 2011 at 1:29pm —
Anyone waking up to look at the charts without seeing the news first might have had quite a surprise look on their faces when seeing the EURCHF price jump over 9% and 1000pips in a matter of 3 hours. Continue
Today, the SNB intervened in an unprecedented, sudden and aggressive move by setting a minimum rate for the Franc vs. the Euro in what they stated was to “achieve a substantial and sustained weakening” of the Franc which has been appreciating against the entire basket of G8…
Added by 2ndSkiesForex on September 6, 2011 at 12:20pm —
In what may be the most drastic move by a Central Bank in the last decade, the SNB has moved overnight and announced a commitment to set a base on the EUR/CHF exchange rate to 1.20. This saw the EUR/CHF cross rate jump 1000pips or 9% (see chart below) overnight in a period of 3hrs, while the CHF gained 1100pips against the GBP (8.7%) and 750pips vs. the USD (9.5%). … Continue
Added by 2ndSkiesForex on September 6, 2011 at 10:00am —
Back from vacation and a well needed rest, I wanted to post some key articles I've been reading which I thought you might enjoy before the week starts (its actually started but with Labor Day in the states, US markets were closed so not a full week).
Here is the hit-list for now and we'll be back to full posting on Tuesday with our weekly report out early tomorrow morning before NY wakes up.
The list;… Continue
Added by 2ndSkiesForex on September 6, 2011 at 12:19am —
*I am on vacation now and not taking any new trades Pre-NFP tomorrow which could have a large impact on the markets. However, I did have a newer trader email me with some questions they had about trading a few days ago. Continue
His comments and experiences of a mistake he made was something I feel a lot of traders go through so I wanted to post his comments and then share my response which you may find valuable.
I also appreciate your comments on my response below and welcome your…
Added by 2ndSkiesForex on September 1, 2011 at 12:41pm —
We are writing on vacation but wanted to send a quick post.
As we commented yesterday in our Forex Price Action Setups
article, the NZDUSD had broken above the key fib + the .8500 barrier and likely was to test this level (20ema as well) then look for higher ground.
Looking at the 4hr chart below, you can see it did exactly that shortly after… Continue
Added by 2ndSkiesForex on August 31, 2011 at 9:00pm —
Here is the link to the Trading Forex Price Action
webinar we did on FXstreet yesterday.
We had a really good webinar with fantastic attendance so thanks to all for coming.
Added by 2ndSkiesForex on August 31, 2011 at 11:38am —
I wrote this article a while back which was quite popular with other sites that published it so wanted to share it with you here.
It covers the most basic yet critical underpinnings of reading/understanding price action. Any trader wanting to understand price action on a more advanced level will want to read this article which is below;
One of the most challenging frontiers for Forex traders has been interpreting … Continue
Added by 2ndSkiesForex on August 28, 2011 at 6:30pm —
We just did our weekly report Forex Trade Signals and Setups
which you can learn more about by clicking on the link prior.
Added by 2ndSkiesForex on August 23, 2011 at 12:03am —
I wrote an article which I think will be useful to all of you in the trading process called, 'Why Michael Jordan Helps My Trading
To learn more, feel free to click on the link.
Added by 2ndSkiesForex on August 21, 2011 at 10:12pm —
For those of you who are familiar with the Ichimoku Kinko Hyo (One Glance Balanced Cloud Chart), one of its strengths is in communicating when major long term trends are beginning and ending. This can either be done through the TKx signal (Tenkan-Kijun Cross) or a Kumo Break (cloud break). Based on our Ichimoku analysis, we suspect the SPX is headed for much lower ground as an event that has happened only twice in the last 8 years has just occurred, a weekly Kumo Break.
One of the… Continue
Added by 2ndSkiesForex on August 21, 2011 at 7:51pm —
After its nascent rise over 5 days from .7070 to .8000, the pair has been stuck in a range which we have blogged about before what the key levels traders needed to watch
. It has not disappointed and has rejected 3x off the big figure at .8000 which also happens to be the 50% fib of the .8944 - .7070 downmove. … Continue
Added by 2ndSkiesForex on August 19, 2011 at 1:21pm —
As we tweeted beforehand today, the $DJIA was approaching critical resistance at the 11524 level (prior year low - turned resistance) and the index did not disappoint - hitting the level, going 4pts beyond and then selling off 180pts since then (see chart below).
This is the critical barrier it must… Continue
Added by 2ndSkiesForex on August 18, 2011 at 4:11am —
We've just published our weekly report on our 'Trade Signals and Setups' which you can learn more about by clicking on the link.
Feel free to re-tweet it
Added by 2ndSkiesForex on August 15, 2011 at 11:36pm —