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Announcements

This site is currently inactive as I have decided to move away from exclusively trading Forex in 2010 and as such will not be taking on new coaching clients in this area.

 



I have resumed my focus on coaching as a stock market mentor where I run a success guaranteed stock trading mentorship program

 



Additionally, you can now get access to what I consider to be the best stock options daily trade alert service.

 



Of course, I am biased and with a success rate fluctuating between 68.2% and 72.4% it is hard not to be biased.

 



If you do want to follow along with what I am doing every day you can get access to my daily stock market report 

 

 

You can read the step-by-step Bollinger Band Trading Strategy Guide - this is my main active trading strategy



Until next time


happy trading 


Mr Phil Newton or on LinkedIn Phil Newton trader

FurQuad Snatch

FurQuad Snatch
Fab1000's picture

Fab1000 | Full time scalper! ?

I will be posting my setups/entries and results from monday the 30th May. Ongoing for a few weeks, lets see how i get on Full Time!

I hope this will help with my discipline, and for any readers to point out any errors in my judgement that may arise.  

I will be using MT4 +1 GMT charts for screenshots, and keeping a tally of points gained/lost.



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Phil Newton's picture

Simple Price Action Trading Locations | Week commencing 23rd May '11

Hi Folks, 

There is no denying that last weeks price action was particularly tricky to say the least with a last minute push on Friday to take the sting out of the rest of the weeks poor performance.

This week will hopefully be much better and as usual we will only know after the even what things will truely be like.



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Phil Newton's picture

Simple Price Action Trading Locations | Week commencing 16th May '11

Hi Folks, 

No preamble this week. Below are the charts showing the updated levels of interest and chop zones for the start of this week trading.

Have a great trading week

EURUSD

GBPUSD



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Phil Newton's picture

Simple Price Action Trading Locations | Week commencing 9th May '11

Hi Folks, 

Another trading week is about to start and the simple price action trading levels are updated again. Last week was a crazy week seeing some immense movements.

Whats causing it all?

Phil Newton's picture

How To make a 1000 pips

How can you make a 1000 pips in a week?

 

This is actually pretty simple, the first thing you need is a strategy that you have tried and tested and is flexible enough to produce results in different market conditions. 

OK that's the obvious one which everyone should know. You can learn a strategy from someone or you can buy one and teach it to yourself or you can do all the hard work yourself and develop your own which in fairness can be time consuming.

The second part is to follow that strategy to the letter. Also a statement of the obvious but out of the hundreds of people Ive trained over the years this is the part that most folks can't do. Discipline, to follow and execute your plan without deviation or hesitation.

My ultimate golden rule is;

If a trade sets up, the trade goes on.

 

So how do I follow that rule? One of the things I do to over come the psychological barriers is to reduce my position size down to a sensible level and I'm more focused on management my Mental account balance over my physical account balance.

Below you can see some example of the trades taken in real time in the Live Training room

The images show the progress of the trades at each stage. The full strategy outline is detailed in the member section so you can see the logic behind why the trades were taken.

By having a strategy, and the means to execute that strategy, allows me to participate in a movement of significance when they happen.

Do you have a strategy?  ....

 

Phil Newton's picture

Simple Price Action Trading Locations | Week commencing 2nd May '11

Hi Folks,

Looking back on last weeks trading after some enforced down time due to multiple holidays and an even short trading week than normal. It appears that the decision to step aside and take some rest was certainly a good decision to make.

Most of the movements seen were either not at a location of interest or counter directional and would have been a sit on the sidelines anyway from the strategies point of view. A good decision all around.

What movements there were would have been tradable were dubious and for most folks might not have been realistic due to the time of the start of the movements. So again realistically not that much available last week and I'm personally happy with the decision that we made to stand down (as well as get some much needed rest myself)

Thank you also to everyone who sent me well wishes and while I was at the desk intermittently through the week the charts were off, trading brain was disengaged and I managed to relax a little. Still not a 100% but then who ever is? lol.

We can see on the charts below that there is a new chop zone to consider on EURUSD GBPUSD EURJPY coming into the new weeks trading as well as the updated levels of interest. Starting the week off neutral (dependant on where the opening levels are as well) on EURUSD GBPUSD and short direction bias on EURJPY.

Price action is also near some levels of interest so there should be some action at the start of business this week. It will also be interesting to see how the markets react to escalating situation in Libya.



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