EUR/USD
Hello I have been away for quite some time. I hope that many of you have had success trading breakouts. This is the trading setup I am currently using. If you are wondering you can learn how to use this set up and download the indicator package from George Smith. I do not receive any funds from George, I just consider his methods ingenious and his product is extremely inexpensive, even for those of you starting out with a few hundred dollars in your account.
Please double click on the chart to get an enlarged version. You can see that the indicators give you everything you need to trade with (except common sense and experience). You can see that entries, stops, and take profits are all calculated for you. All you really need to do is determine if you think the next trade will follow the same pattern as the previous trades. Then you just prepare to take a piece of the move.
I will only be posting these chart indicators after my trades as it would not be fair to George to post this information during or before a trade entry.
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EUR/USD DAILY 1/1/11
We ended the trading year, with the Euro right on strong resistance. Generally the odds would be on shorting this pair as the new year begins.
We will have to see what happens on the Sunday open on the 3rd.
Happy New Years to all who have followed this blog as I periodicly work on it.
The Main lessions I have learned from trading this year is
- Stick with the trading style that works for you as long as it works for you.
- Study and test other trading systems, but do not loose track of what is working for you, ie #1.
- Don’t get to full of yourself when you are consistently profiting.
What works for me is the midnight and 5:30 trades.
What I am studying is George Smith’s trading style, especially his Oscar indicator when it can be used with P12&3.
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