Trading Strategies.

Well this one has been a long time coming for me.  Its been one of those projects Ive picked up and put down over the years and finally picked it up and put it down completed.

Two of the main motivations for this have been the market environment and several member questions about how to apply a multiple strategy concept to trading the 3 phases of movement.

So, tomorrow I will be rolling out a single strategy to include taking advantage of trading with the trend, counter trend and trading consolidations.

• No more sitting on the side lines while price is a range
• No more watching price make some significant moves counter trend either watching them or trying to position myself into them in-line with the trend
• No more wondering where the best time to get out of with the trend movements

For Live Room members I will start the training session at 8am UK hours

For Website only members I will have the video recording up ASAP.

What will this mean for me and you as a trader?

1. Its not going to matter one iota which way an instrument is moving there should be opportunities to trade.
2. If I'm wrong on direction, I'll be wrong very briefly.
3. When direction changes I'll adapt faster to profit from those changes.
4. Significantly reduced waiting time between trading opportunities and locking in profits.
5. No fancy indicators, and as always just some simple rules and pure price action based rules.

The aim is to take pips trend, counter trend and in ranging markets. The ultimate Goal.

This morning I have a buy at 1.6380 and a sell at 1.6348 for cable on the hourly chart. Bit akward this as the hourly has shown a downwards slant for the week, yet price action is towards the top of this channel. Not talking immediate PA, but general as though 'it' wants to change to trend longterm upwardish. Which of course is what it has been doing on the daily since march.

But can't have presumtions... not in this game, and it is sometimes hard to trade what you see, because your mind 'wants' something to happen on the chart. So all thoughts aside and will play the stated entries whichever one the chart wants to choose.

It can (and will) do what it wants. I will follow along obediently behind it.

Hi Folks,

Before I sort out today's video I'd like to try and spend some time asking what you think of today. This is an exercise that I've been doing a lot in the last several days in the Live Training Room.

What I would like you to do it, skim through all the pairs that you would normally look at quite fast without stopping on any one pair. Try not to make any opinions on an individual cross rate.

Try to get a FEEL for a GENERAL impression of the market and how it looks today and with one or two words, Whats your first impression of the potential for the day?

blog edited to add video after replies

You clearly don't need me to mention this but...
Cable again, and the weekly chart still shows plenty of available up and downside.
Daily
chart of course shows a double (or is it a quad) topping? at
16,570/80ish with a clear buy above that. First sell signal for me
comes in at 16,450. Which was a previous buy point.
Real selling bottom is at 15,950 if it goes into a sideways channel. So plenty of scalping? opps within that 500 odd pip range.

Trading
then for me is on the hourly chart and price seems to be backing off
from the prvious 2 highs. (I'll take it as 2 attemps).

Allready
had a sell signal at 15,544 which was between 4 and 5 this am; so
missed that but price moved back up above that and gives me a range now
of 16,544 for the sell again should it desire a down day or a buy at
16,580 for the continued uptrend? since March.

Think I favour
the short for the morning. To give it a bit more of a run up for the
3rd attempt of the high. But it will do whatever it does of course. If
it does break upwards however. I have a previous line with not a lot in
between at 17,150ish.

To the hourly then for some hand holding as the Lady/Bitch (delete as appropiate for your trade) shows the way.

Well Cable on the daily at important area 15930.

A fall through looked good. I say 'looked' because as I was elsewhere mentioning the same thing. It happened! So This is slightly in hindsight. a few pennies to start off the week though.

Take care.

Trade well.

Phoenix.