Here is a video of a trade I spotted today, very easy to see and trade for people who have already studied my 10XROI System and High ROI Scalping System. Enjoy!!
Author: LR Thomas
Student Goes From Bacon to Filet Mignon With USD/CAD Trade
>Here is a new trade on the USD/CAD, a daily trend line break. Chart and comment kindly provided by Theo who appeared in the last post. Nice one Theo!
“More bacon….. A break of the trend line of the USD/CAD brought some nice filet mignon this time! Bacon is too common anyways.”
Student Uses Weekly Push-Pull to Bring in Bacon
In my last post and in my monthly newsletter I talked about the Eur/Cad as being a pair to watch in July, I also covered the two weekly push-pull setups in my last video. Well a new student of mine set me this reply together with his chart, which I am reprinting with his permission.
“Thank you for the interest in how I was doing since I started the High ROI Forex Trading Course. Well I was successful with 2 trades! The EUR/CAD and the AUD/CAD. especially the first one brought us bacon for a whole month. Just wondering how long it will take for such a set up it might take weeks. Do you see and possible trades that could develop in the near future?”
Here is my answer to him
“To answer your question , its vital that you don’t force trades whatever time frame you are trading. The more systems you trade in tandem the more trades there will be, however what is important is to master one system at a time.
Just be patient and build your account, compounding and high ROI trades will do the work. You just focus on taking the best trades you can find and continual improvement and using good money management. I do a newsletter which goes out monthly where I analyse the upcoming levels for the month as well as analyse the trades for the past month. Here is the link if you are interested,
$1-trial-huge-market-moves-newsletter/“
Here is the chart showing the four hour entry on the Eur/Cad weekly push-pull.
Multiple Trades on the Eur/Cad Video
In this video I am examing the different trades that were available on the Eur/Cad last month and how to enter using multiple time frame analysis and combining my different systems.
Process Versus Results Thinking Chris Mathis From ForexMentor Agrees!!
In my trading psychology books I talk about Process Thinking versus Results Thinking, Chris from Forexmentor, (home of Shirley Hudson in my highly recommended section) agrees, here is his video.
How Many Trading Filters Should You Use?
One of the biggest problems I see with traders and trading gurus is that they overcomplicate trading by using too many filters. The problem with adding more and more filters to your trading is firstly that filters will start to contradict each other, secondly you will become overwhelmed with the amount of information needed to be taken into account before taking a trade and thirdly there is no proof that having overly complicated systems actually improves your results. What type of filters am i talking about? Here is a list…
Lower and higher time frame support and resistance
Fibbonacci levels
Pivot Points
Murray Maths
Moving Averages
Elliot wave
Candle Patterns
Chart Patterns
Divergence
Multiple Indicators
Round Numbers
Average daily Range
Trend lines
Harmonic patterns
Gartley patterns
Higher time frame momentum
Correlation of other related pairs
Correlation of the Indices
Correlation of commodities
etc.etc.
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The more filters that are added in the harder it is to make a decision, so here is a bit of advice. Go for the least amount of filters rather than the most.
You can trade successfully using support and resistance and candle patterns only.
You can trade successfully using chart patterns combined with a few candle patterns.
Go for simplicity rather than complexity, rememmber the only decision you are really making is will price go up or down and have you found the optimum place to enter that is low risk and high reward. Those questions can be answered using very simple systems with very few filters. I bought a day trading system some time ago which was created by a fantastic short term day trader, but she has multiple filters which she uses to make a decision which made the system too subjective and complicated for me. I like simple, simple can still give you a profitable system and much less of a headache.
Two Day Trading Systems Combined for 1-5ROI
Here is a channel trade using my new upcoming High ROI Day-Trading System which works alongside my High ROI Scalping System. You can see how exact the entries and exits can be when you combine channel trendlines, chart patterns, candle patterns and the ADR.
Businesses You Can Run While Waiting for a Trade
I have received a good amount of requests for some information on running multiple businesses while you trade. I have created a video on this topic and because it is rather lengthy I have only covered three businesses that are…
Trading and Black Jack
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Trade Management of GBP/AUD Trade (Video)
Here is a video showing how and why I closed my recent GBP/AUD trade.
Lovely 10XROI Trade on GBP/AUD (Video)
Here is my analysis of a trade I took this morning, using multiple time frame analysis from the monthly down to the five minute charts.
Autoresponder is Down
>>Use the New Subscribe Box on the Right<< Many apologies to people who have tried to sign up or click links. The GetResponse website is down and none of their services are working. Hopefully they will get it fixed soon.…
Building Other Businesses While You Trade
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Why Trading Mindset is Critical to Success
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How to Stop Over-Trading
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Recommended Blog
Today I have one recommendation to make re. a blog that I discovered through one of my students FXOutlier. It stands for everything that I have come to learn (the hard way) about trading. This blog is a great addition…
Combo 10XROI trade on AUD/JPY
I have been talking a lot about the AUD/JPY of late, here is the link to a previous post. Click Here Here is a video of a trade I closed yesterday on the AUD/JPY and my reasoning. (corrections) 4.06 exit not enter,4.24 my stop loss not roi
Announcement re Free Coaching session
Thanks to everyone who replied to the request for feedback about their over-trading issues. I also got a lot of responses from people explaining why they thought other people over traded. Every reply was extremely useful and everyone who responded…
Potential Short Term and Medium Term AUD/JPY Trades
The AUD/JPY is hitting the upper trend line in an upward moving daily channel, in the short term it may provide a nice reversal counter move which could be entered on the lower time frames the four hour or the…
New Book Coming Out!
I am in the process of writing my next book, How to Stop Overtrading! I will be giving free copies of the book to those people who can add to the book by sending me their specific over trading scenarios,…
Using the 61.8 Fibonacci Level on a High ROI Scalp Trade
As a continuation to my previous comments about Fibonacci levels I show how I would use them if I were trading a High ROI scalping setup.
FX Outlier
One of my students runs a blog which is pretty cool, he charts his trading progress warts and all: Here is the link to his latest post… http://fxoutlier.com/2014/03/28/weekly-roundup-friday-28-march-doesnt-friday-suck/
Could Your Diet be Affecting Your Trading?
I just watched this fascinating programme by the BBC highlighting the different effects of a high fat versus a high carb diet on twin brothers. The cognitive tests included a spell in a trading room where the effects of their…
Why I’m Not a Fan of Fib Levels
The reason I’m not a fan of Fibonacci levels is that I find them too subjective, supposing you get a reversal candle at the 50% level how do you know that is the one you should take? You could have…
Eur/AUd Trade Using All Four Systems!
In the first example I analyse the Eur/Aud break using the 10XROI system with the High ROI Scalp entry and in the next video I analyse the same set-up using the Trade Around Your Job and the High ROI End…
March Sale Ending!
The sale on The High ROI Trading Video Course is ending on the 31st March Click Here for more info…
AUD/JPY Analysis Continuation (Video)
This is a continuation of the AUD/JPY analysis I did a couple of weeks ago. Looks like there could be good momentum ahead.
How to judge if a trade is an ‘A’ trade or a ‘B’ trade? (Video)
When swing trading the forex market using the four hour charts I like to use the higher time frames and currency correlation to make decisions about whether a lower time frame is suitable for trading and how much of my…
Classic Parabolic Reversal
This is a beautiful set-up on the USD/HKD but unfortunately not tradable due to the spread and low daily range, but the pattern rocks!
Trading and Black Jack
Traders don’t know how good they have it! I have just been reading ‘Beat the Dealer’ by Edward Thorp where he describes his system for beating the casinos at Black Jack. The book was written in 1962 and in order…
What is the difference between a trading system and a trading method?
I have also been confused with this one and I will give my take on it as it relates to my trading systems. My method is to find higher time frames where there is current or potential momentum and look…
Becoming Great !
New traders and even some highly experienced traders completely underestimate the need to take charge of their psychology in order to succeed in trading. Most people who get into trading want to make money and may have no interest…
This Weekend 70% off Flash Sale
The High ROI Trading Forex Video Course (The Advanced version of the e-Books) Click Here for more info…
AJ Trade Analysis Contd.
In the previous video post I talk about the AUDJPY TAYJ trade and how you could have protected yourself by moving the stop loss to break even. In my book the 10XROI System I also talk about the trade-off you…
Video Analysis of Trade Around Your Job Set-Up on AUD/JPY
Here is a video of a TAYJ trade that happened yesterday, it is interesting because of the different time frame analysis that go into it.
Video of how to get up to 1-20 ROI on a 10XROI Trade
Tweet I thought this was an interesting 10XROI counter trend trade. Regarding the hourly entry, for a pure High ROI Scalping trade it wasn’t suitable because price didn’t touch the opposite side of the channel, however there was a lot…
New Trading Site
I have been asked to write for Trader Planet as a contributor with the focus on fear in trading. As a result of that although I will still add trading psychology updates to this site I will be creating a…
Video of USD/JPY High ROI Trade
Trades are slow at the moment for the higher time frame systems due to price hitting monthly resistance on quite a few pairs , however this video shows a nice High ROI Scalping trade of which the big advantage is…
Is it the system or is it you?
I have recently had a rather persistent gentleman with no experience in actual trading, who has never read any of my books, contact me with two long emails, after reading another authors book on trading. He has armed himself with…
Now Less Than Half Price Video Courses Split
I have split up the video course to reflect the fact that some people may want to focus on just one system which makes now makes the course even better value and to top it off I am now offering…
Question in from Reader about End of Day System
A question has come in from a reader about the end of day system which I answer on the dedicated page on this site, I will be posting all answers to the questions about the High ROI Trading End of…
Is Trading Really a ZeroSum Game?
Boy, I have been on fire the past couple of days I’m pushing out these posts so fast!! Ok here is another trading truism,’ Trading is a zero sum game , for you to win then another trader has to…
Another Video of a Successful Trader
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Day Trading for a Living
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Do Simple Systems Work?
Dukascopy trader of the year 2010 talking about his system, keeping it simple and sticking to the plan.
The Four Minute Mile and Trading
Going back to the issue of lack of confidence in trading and the comment by fxoulier I have this reply. One of the issues traders have is that they feel alone for the most part and don’t have role models…
Lack of Confidence in Trading Analysis
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New End of Day System Now Out on Amazon
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Why I Don’t Run a Signal Service!
I have been asked to do a Twitter service where I give out my set ups and told I can make a good return from selling it as a monthly subscription service, here is why I won’t do it. When…
Second Trade Setup on the GBP/AUD
In a continuation from yesterdays video there was a second overnight set up on the GBP/AUD which I couldn’t resist taking.
Video Analysis of Recent GBP/AUD Setup
Here is a video of a nice recent GBP/AUD Trade, see how I use the higher time frames to analyse the lower time frame charts.
re: Fear in Trading
Those traders who watched my Trading Mindset Presentation will know that I carried out a survey amongst my subscribers and found that the biggest emotional problem that traders have is FEAR! I have just brought out my book ‘Overcome Your…
Want to leave your Job? Here’s how to do it!
I just thought I would post this for my subscribers who dream of leaving their jobs. Post by PreventDisease.com.
Lovely Gold Trade
Here is a lovely trade on Gold which I just spotted. A good daily context with a strong upwards break combined with a daily push-pull. The daily push-pull also lines up with a 4 hr channel trend line with a…
Free EFT Resources
In my mindset webinar I make reference to EFT and why it is such a useful tool for traders. For those who would like a good resource to learn EFT you can’t do better than learning it from the creator…
Trading Mindset Presentation
I decided not to hold this mindset presentation as a webinar but more as a lecture style presentation due to the time constraints of my readers and students. I have posted the presentation below and will be around for…
Video Analysis of Recent Eur/Jpy Setup
Here is an analysis of how to enter this great weekly Push-Pull setup using tthe TAYJ and the High ROI Scalping entries.
Great Trading Interview
A great trading interview from trading psychologist Richard Freisen
Ari Kiev Video
What I like about this video by Ari Kiev is that unlike other trading psychologist he gives some clear strategies for improving your trading performance. He has passed away now but a great man!
Nice EUR/AUD Setup
Here was a nice setup, a break and pull back to daily trend line which lined up with a 4 hour upper channel trend line. Hourly entry would have given a great ROI. Going down to a smaller TF would…
Re Hoppings Post
You are right Hopping this is a monthly push-pull level. Here was a previous trade on the GbpAud see my chart below.
Weekly Push-Pulls
I haven’t talked much about weekly push-pulls but they provide a lot of short term trading opportunities particularly on the 4 hour charts. Here are two one after another on the Eur/Jpy Pair
USD/JPY High ROI Scalping Trade
here was a nice high ROI Scalping setup today
Re Shellsnails posts
I am really impressed with how Shellsnail on the Forex Factory thread has taken the 10XROI system and made it his own. He uses the 15 minute charts to enter and his technical analysis is different from mine but he…
Why is Trading Like Driving
New traders and even some highly experienced traders completely underestimate the need to take charge of their psychology in order to succeed in trading. Most people who get into trading want to make money and may have no interest in…
Video Taster
UPDATE—SALE FINISHED My Video Course is now out and will be on flash sale until Monday. To give people a taster and also because I think it is particularly pertinent at this time I have posted one of the…
AJ Trade Update
Price has pulled back on this AJ trade to the new push-pull zone which falls between 91.71 and 81.61, a good target if it reverses back down is the monthly support below. Update Now is the time to move to…
Re Spydermans AUD/JPY Trade
I do indeed approve of that trade Spyderman, I was waiting for it myself as my template users will know. It was a bit tricky to find an entry because of the hourly trend lines in the way but just…
Why Higher Time Frames are Better for Impatient Traders
It occurred to me today after having taken a scalp trade and a 10XROI trade in the past couple of days (so much for my decision to stop trading, there are just some juicy trades about at the moment) that…
Re Shandys Post
Hi all, sorry I haven’t been about for the past couple of days but I’m working on the video course which will be ready at the end of this week, people who order in the first 48 hrs will get 25%…
re GBPJPY
The Gbp/Jpy pair has just bounced decisively off the monthly push-pull area, will it break back up through the channel trend line? it will be interesting to see…
Video Answer to Spydermans Question
I am currently creating the videos for the video course, so I have just created a quick video in answer to Spydermans question.
EUR/CAD Update
As you may know I exited the Eur/Cad trade due to the sluggish momentum on the trade. This turned out to be a portent for a further rise in price. A pull-back push-pull was created with an entry on an hourly S/R…
GBP/AUD Trade Entering on Hourly Push-Pull
People who signed up to receive my templates will know that I predicted a push-pull level on the GBP/AUD pair which was hit earlier today. However it was hit with such force that price rebounded directly off it with no…
4 hr forex push-pulls?
For those of you who have time during the day and the patience to wait for an entry the 4 hour push-pulls present some good weekly opportunities, there are usually about 3 or 4 of them a week. I just spotted…
Trading Announcement
I have decided to take a break from live trading for a few weeks and focus on what needs to be done for the trading systems and this blog. Spyderman has just taken a trade on the NZD/CAD and although…
Re Vladys FF Post
Nice going Vlady, you took the 10XROI and used flexible thinking to enter long on an hourly push-pull, I couldn’t be more proud aaaahhhhh….. You could have taken profits at the adr level 🙂 Hi Guys, …
Trade Updates
The EJ has made its daily range so there may be a short entry coming up, it didn’t hit the opposite side of the channel before pulling back however. There is a push-pull level above that so we’ll see what…
Re Spydamans FF Post
Another great post by Spydaman, I hope you can find this blog Spyda! As an aside, its really frustrating that I can’t post to the FF thread which is dying from lack of input. I would ask any FF members…
How to Select Your Pairs
I want to just talk for a moment about why I didn’t have the AUD/CAD and the USD/CHF on my radar for the recent set ups found by Shandy and Spyderman. I use a criteria which is this, Is the…
Great Article On Focusing on Systems Not Goals
How Flexible Thinking Helps Your Trading
Readers of my book Control Your Inner Trader know that I am a trained therapist and very interested in ways to improve trading psychology, something that I didn’t cover in the book is how being flexible in your thinking can…
Shandys Trade, Great Job
Shandy posted a great USD/CHF trade , awesome job Shandy you hung in there and you are getting great at spotting these trades! I’ve posted Shandys charts and my charts below his. Terrific!!!
Re Spydermans Post OMG!
Spyderman what an awesome trade, perfect! I have added a couple of points in my chart underneath your charts, one is that the trade reversed at a monthly push-pull level which provides another clue for take profits and there was…
My Take on VSA and Currency Strength Indicators
I was asked by one of my readers what I think of VSA or Volume Spread Analysis, for people who don’t know what that is , the premise is that the volume indicator is valid on the Forex just as…
Push-Pull Reminder
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Help at Hand for Time Poor Traders
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EJ Trade Update
If you have watched the videos you will see that I moved to break even for a couple of reasons one of which was that it looked like there was a reversal push-pull in play. The question then becomes well…
My EJ 10XROI Trade
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Why Wait for the Big Market Moves?
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High ROI Versus High Probability
One hidden benefit of a high ROI trading system over a high Probability trading system is that you don’t need to be the best trader in the world to make money. Some time ago I bought a day trading course…