My Daily Forex Trades

Todays Session produced very well for us again...had some beautiful PA patterns develop for us to trade off.

[ame]http://www.youtube.com/watch?v=NHUKYFPZC3g[/ame]
 
We have a few conflicting signals on the Pairs today...the GBP/JPY , USD/CAD, USD/JPY and the EUR/JPY all have conflicting buy/sell signals.

as an example the have bearish PB's that signal short trades and at the same time they have ZLB patterns on the MACD that signal long trades....

In the Live Training Session today I will discuss how to handle these sorts of things ,which signals to trust and which to discard.

The NY Session is from 2pm (South Africa time) (GMT+2) today.
 
Remember today is US Retail Sales and so we will be setting up the news reaction off 1min charts and then looking for logical trade patterns off the report.

The US RS report is coming out in 44min...
 
WOW that was a exciting news trade!!!! produced amazing profit and also helped our 2 other trades deep into profit.

Well done to the guys who joined me and traded the pairs I highlighted.

[ame]http://www.youtube.com/watch?v=yafEubwH5l4[/ame]
 
Here is the only trade we have open from Friday...left it on because we closed out half in good profit near the bottom of the mini down trend and have the Stoploss protecting profit on the rest...

The new week will decide if the remaining half of this trade continues short or if its stopped out at +103 pips profit.

Eurolastweek.jpg
 
we are still in our Euro trade from the London Session...no change so far.

See you guys for the NY Session tomorrow :)
 
Well if you stayed in your euro trade with me then you are smiling now...it just took off and we are in over 100pips profit. (thats more than $1000 in a single trade with a full lot)

if you guys have been joining me in the live sessions you will see how it can be easy to trade profitably in the Forex market.

We have made over 780pips in 15days ...so thats about $7800 in 14 days if you trade a full lot like me, we have reduced our lot size on some of the trades this month so the total for me is closer to $5500 but for 2 weeks work its good.

you have seen me set up these trades in the live market and manage them into profit during the live sessions.

If you havnt been with us in the live session yet...well then pop over and join us.

here is the trade we are in on the euro ( I know some traders in the live room said they took this trade with me , so congrats!! :) )

The next Live Session is at 2pm (GMT+2) for the NY Session of trading.


eurtookoff.jpg
 
NY Session is live...you are welcome to join us use session I.D : 819-250-554
see you there :)
 
another good trading day! :)

if the video doesnt play immediately...please give a couple of minutes as its still processing at youtube...thanx

[ame]http://www.youtube.com/watch?v=8F51OBgeT-Q[/ame]
 
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Im still in on our Eur/Dollar trade and now also in on the NZD trade...will make a video and update here as soon as I finish my trading day.
 
quick update...our Euro trade is 317pips in profit so far and has blasted past the 200EMA on the daily so expect a bit of a pull back maybe even to the 200.

The NZD trade hit our target and so we closed out in nice profit.

Please remember I am in a convention this weekend and so there are no session for Friday...but Monday we will be back in the saddle.
:)


eurprofit.jpg
 
What are you getting out of helping people and are their any 'fees' involved? This seems great but when something seems too good to be true it usually is. If you are just helping put then kudos to you.
 
Taken from his website.

The Traders Haven Live Market Trading Group is a dedicated Forex Trading Group that trade in the Live Market in real time.

The Group is headed by our Traders Haven Instructor that trades the Market while teaching the group members a number of

vital Forex trading skills. You will see our charts, Hear our voice and can interact with the Instructor during the Live Market!

This will all take place as a teaching/mentoring session in the live markets...Our Forex Instructor will not be calling trades, BUT

will not shy away from pointing out good trade setups and which setups we are planning on trading.

Learning from a Mentor in the Live Market will greatly improve your trading!

JOIN THE TRADING GROUP NOW



WHAT ARE THE MEMBERSHIP OPTIONS?

1 : 3 MONTH MEMBERSHIP - $35.00 / month - Free 3 day trial period.

2 : 6 MONTH MEMBERSHIP - $27.50 / month - Free 5 day trial period.

3: 12 MONTH MEMBERSHIP - $20.00 / month - Free 5 day trial period.
Click to expand...

So,I guess what he does is offer free advice for a couple of days, showing how you can make your millions off the forex markets,and then sucks you into paying for one of the memberships.
I guess he will be your mentor for the duration of your membership.
 
Rubberpigg said:
Taken from his website.



So,I guess what he does is offer free advice for a couple of days, showing how you can make your millions off the forex markets,and then sucks you into paying for one of the memberships.
I guess he will be your mentor for the duration of your membership.
Click to expand...


interesting assumption...I can see you have never bothered to log into the free forum and see for yourself.

The method and mentoring on the threads has and always will be free...I have mentored people on the free forum for more than a year and continue to do so.

I respectfully ask you to check your info before making nasty comments as to my intentions and efforts.



P.S : Anyone who tells you that you can make millions off Forex quickly is a scam...its similar to any other business in that it requires time and effort to become profitable...but some people like myself and the 757 members of the free Traders Haven forum prefer to spend their time making money off the Currency markets which allows us much more free time as its a 24 hour a day market that can be traded at a time that suits you.
 
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Sensorei said:
What are you getting out of helping people and are their any 'fees' involved? This seems great but when something seems too good to be true it usually is. If you are just helping put then kudos to you.
Click to expand...

Yes the Live Sessions are $20 for about 200 hours live training per month...sound unreasonable? (10c per hour of one on one training)

The free forum where Rubberpigg took the info offers everything for free...even the method I use to trade live on my real account...you can learn the method for free with videos , pictures etc.(and I answer every question in the thread that teaches my trading method)

Also The live sessions have been free since November until January no strings attached...people have logged in and enjoyed the sessions without having to register or pay for anything.(you can learn a lot from the videos I post as well)

So to make a long story short...you can learn everything I do for free
BUT if you want to be trained for trading in the live market in real time I ask a small fee of $20 for like I mentioned (mid 2010) about 200 hours of training per month.

I hope that answers your questions.
 
please keep it up! I find it very interesting and touch base with this thread and dailyfx every day! Thanks RoryK
 
daysleeper said:
please keep it up! I find it very interesting and touch base with this thread and dailyfx every day! Thanks RoryK
Click to expand...

Thanx daysleeper...glad to see people getting benefit from this thread.
:)
 
Hi RoryK or any other experienced traders out there, just wanted to ask all these questions before really going to learn on fx trading. Some rather noob questions from my side, if you use ibfx as ur broker, how does the whole tax thing with ibfx works (i think global trader sent u a tax certificate every year), and can anyone tell me how much does SARS take IF you do make a profit at the end of the year (surely they cant tax u if u make a lose, RIGHT?)?

And since ibfx is a foreign company, you are essentially sending money outside of the country to make a trade, and if i remeber correctly, each individual can only send R600 000 outside SA each year, which will not be enough at all taking into accounts that each trade varies from thousands to tens of thousands? Or does forex trading not need to comply with this regulation due to certain reasons?

And there are so many trading platforms out there, which one do you guys reccommend and can one download them for free without registering with the specific broker which offers it (so that maybe i can use that platform for info and trade with a broker who has a less spread)?

Thanks!
 
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atom0101 said:
Hi RoryK or any other experienced traders out there, just wanted to ask all these questions before really going to learn on fx trading. Some rather noob questions from my side, if you use ibfx as ur broker, how does the whole tax thing with ibfx works (i think global trader sent u a tax certificate every year), and can anyone tell me how much does SARS take IF you do make a profit at the end of the year (surely they cant tax u if u make a lose, RIGHT?)?

And since ibfx is a foreign company, you are essentially sending money outside of the country to make a trade, and if i remeber correctly, each individual can only send R600 000 outside SA each year, which will not be enough at all taking into accounts that each trade varies from thousands to tens of thousands? Or does forex trading not need to comply with this regulation due to certain reasons?

And there are so many trading platforms out there, which one do you guys recommend and can one download them for free without registering with the specific broker which offers it (so that maybe i can use that platform for info and trade with a broker who has a less spread)?

Thanks!
Click to expand...

Atom,
Thats a lot of questions :) so I will try answer them all...if I miss a couple please ask them again and I will answer you as best I can.

you pay tax on the money you make overseas these days so the tax works pretty straight forwardly...any money you make gets taxed as earned income.

you only get taxed on the money you make , so if you lose money then you pay no tax.

Yes IBFX is in the US and so you send money out of SA but you dont need to send as much as you imagine because the accounts are leveraged...so you can control 100 000 units of cash with as little as $100 depending on your leverage (up to 1:400 with some brokers) although I believe there are plans in the works to limit leverage to max 1:200

I only use 1:200 right now so with $5000 (USD) I can trade lots that are $10 per pip...so if I make 100 pips for the day I have made $1000.

BUT I dont recommend you trade big lot sizes until you have a proven track record of success on a demo account...and even then remember to start small and work your way up.

Besides the above, I hear that the limitations on sending money out of SA has or is soon to be abolished...so you might not have a problem with that actually...must do some more research to speak with authority on that though.

You can get a free demo platform to see the charts off just about any brokers site like : IBFX, FXPro , AlpariUK , AvaFx , Gotrader , etc etc. (the demos are limitless from these guys and most other brokers as well)

I recommend IBFX , have been using them for many years with no problems.

The lowest spreads I have seen have been MBT and Oanda (MBT offers its feed through a MT4 platform which is the easiest platform to work with)

hope this answers your questions satisfactorily.

Cheers
 
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