Category: Trade Comments

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…

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

I advise my students not to depend on solely trading income if they want to leave their jobs. The time spent waiting for trade set-up can be usefully spent creating other income streams that allow time flexibility and stability of monthly…

Why Trading Mindset is Critical to Success

My trading mind-set books are the lowest sellers of my Amazon eBooks. The reason for that is simple, traders generally want to learn how to make money and are attracted by the idea of a trading system with a high…

How to Stop Over-Trading

Just to let you know that my new eBook ‘How to Stop Over-Trading’ is now live on Amazon. If you have ever taken a trade that is outside your strategy,then this book was written to stop that behaviour dead in…

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!

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…

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…

Another Video of a Successful Trader

Ok so this is another video of a successful trader, his style is different, he is a scalper, but the point of this is to provide more BELIEF that it can be done, that it is about finding your own…

Day Trading for a Living

The previous video showed a long term trader so I just wanted to show a successful day trader in these videos , this is not my type of trading, too stressful, but I like how this guy describes his trading…

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

Today I was thinking about writing another book, ‘Confident Trading’ based on the results of a recent survey I carried out which highlighted lack of confidence in trading analysis as another big problem traders face besides fear. It instantly occurred…

New End of Day System Now Out on Amazon

Having to cut back on my trading due to time constraints over the last couple of months has prompted me to do something I have been promising myself I would do for a long time. Come up with an end…

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…

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…

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

Daily Chart Push-pull trades have been thin on the ground lately and those that have shown up haven’t been of the best quality. The best push-pull trades are in a high momentum environment, although I don’t generally trade the four…

Help at Hand for Time Poor Traders

I have just created something that will help those of my readers who have been telling me that one of their biggest obstacles to trading my systems is simply lack of time. Click here to learn more… http://10xroitradingsystem.com/new-products-and-services/

My EJ 10XROI Trade

Currently at break even on this trade because of trading into the 142. level strong support and the engulfing daily candle, will post the video later. This was an unusual trade because it was shorting into daily support and a…

Dazed and Confused-Another Missed Scalp

In the little survey I just sent out to my readers one of the biggest problems was being able to structure their trading around their lives and I am as guilty of this as anyone. What with running the blog…

Potential trade setup

A pin has formed at a push-pull level on the EurAud, waiting for some more confirmation at present. By the way this is a potential short! Also watching the EUR/JPY update currently waiting to see if price reverses and…

Eurusd Scalp Trade

Here is a Eur/usd Scalp trade, again I missed it but hey that’s life! what you can see is that as well as the five min S/R zones there was a five minute channel that provided further confirmation of…

Charles Scalping Question

Charles sent me a chart of a 4 hour megaphone channel for my opinion. Within the 4 hour channel was an hourly channel that started to fail but would have yielded a 1-3 ROI trade depending on the entry. By…

Re Potential Trades

I will be looking for upcoming trades in the pairs below over the next two weeks. The EURJPY has had a long run and has reversed off the top channel line, will be looking for a low risk trade to…

Re Shandys question

“EURUSD – how does this look for a Push / Pull formation, context is it has broken out of the previous upward channel and previous Support has now turned Resistance, the re-test of which produced the 1,2,3 candle formation. And…

Eur/Usd Hourly Scalp

Just noticed this Eur/Usd trade as I was checking my charts this morning, missed it unfortunately but it would have given a nice 1-3 ROI. Notice how the four hour turquoise resistance above was rejected and how price is heading…

High ROI Scalp Trade AUD/USD

When nothing much is happening on the daily charts there are still some good trades to be had on the hourly charts. See below. Due to the daily support line running through the middle the trade was moved…

When is a Good Time to Use Your Intuition.

Here is a good video interview of Daniel Kahneman author of Thinking Fast and Slow. I got one really good tip which is that if you are a person who uses your gut to make decisions it’s important to know in which situations you get good results from using your intuition. Trading is more specifically discussed at about 7 minutes into the video.

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