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Wednesday, April 22, 2015

Gold Buy Recommendation April 23rd 2015

Commodity: Gold
Timeframe: Daily Chart (D1)
Recommendation: Buy Gold @ 1,188.50
Take Profit @ 1,300.00
Stop Loss @ 1,133.50

I am hedging my forex portfolio with Gold today. I think the recent dip below 1,200 offers a great buying opportunity and I went long at 1,188.50. I expect the bullish price channel to guide Gold back into its next resistance level.

Expect some volatile trading sessions which could lead to false breakdown below its support level. I recommend taking any false breakdown as another buying opportunity.


Tuesday, April 21, 2015

EURCAD Buy Recommendation April 22nd 2015

Currency Pair: EURCAD
Timeframe: Hourly Chart (H4)
Recommendation: Buy EURCAD @ 1.3160
Take Profit @ 1.3760
Stop Loss @ 1.3000

I am going long the EURCAD as I believe the upside potential far outweighs any downside potential from current levels. It appears as if this currency pair has found support and any move below my entry level at 1.3160 should be taken as another great opportunity to add to existing long positions or to add new ones.

I am looking for a short-covering rally to kick of the advance and as selling pressure is being replaced by buying pressure the rally should gain steam. I expect the EURCAD to test its resistance level over the next few trading weeks.


Monday, April 20, 2015

AUDNZD Buy Recommendation April 21st 2015

Currency Pair: AUDNZD
Timeframe: Hourly Chart (H4)
Recommendation: Buy AUDNZD @ 1.0050
Take Profit @ 1.0300
Stop Loss @ 0.9900

The AUDNZD corrected sharply as it ran into resistance. This currency pair is now trading inside of its support level and is also approaching the psychologically important 1.0000 level. This represents and excellent buying opportunity in the AUDNZD.

I am going long at 1.0050 and look for a nice rally back into resistance. Watch out for a powerful short-covering rally. I will buy the dips below my entry level and spread my buy orders covering the 50 pips range down to parity.


Thursday, April 16, 2015

Do you like this Forex Trading Strategy?

I know plenty of you guys out there are still looking for the right forex trading strategy and have not found it yet. I hope that my free trading signals here are helping you guys out a bit and that you are able to earn a few pips with me. When I am asked about what I think the best trading strategy is I always give the same answer: My trading strategy is the best for me which is why I am using it! Don't worry, I will not share my approach here, what you do get is free signals based on it and I assure you I trade all my signals which I post here (plus many more).

Today I want to share a post I read over at PaxForex with the title: Warren Buffet Investing Strategy. I know some of you start to wonder why I am sharing anything which has Buffet in it as it is no secret that I don't exactly have kind words for him. On top of that he is clueless about forex trading (and a range of other instruments since we are at this topic). With that in mind, the reason why I am sharing this is very simple: There are some great points in the above mentioned post which I 100% agree with and have been implementing for countless years.

Here is a short summary of the key points new and seasoned forex traders should take away:

  1. Think Long-Term: Many forex traders rush to the market thinking about earning a few pips really fast and repeating the process. This exposes them to so much risk which needs to be the topic for another day. Think long-term is where you can earn your money on a consistent base. Stop looking at the M1, M5, M15 for trade set-ups. That's all noise. Look at the longer time frames to get a much better idea about the trend and chart patterns. 
  2. Be Realisitc: The author of the above post states that the annualized return of Buffet's company (also known as his investment strategy) yields 21.6%. Guess what? That is respectable. Stop looking for those 100% returns per week crap and don't fall for idiotic advertising. Be realistic! 21.6% may not sound much, but it is harder than you think. Now add that return to the long-term view and it is a great strategy to increase your wealth. It may take five years to double your account, but hey that is how it works. Doubling your account every five years or twice per decade is an amazing performance.
  3. Add-Ons: Yes, you read that right! You download add-ons for your browers to customize them, you purchase add-ons for your car to increase performance and you basically seek to add-on this and that here and there to make 'it' better. Do the same with your forex trading account. Start with a small deposit of $2,000, this will be your base. Now add 10% of that every month to your trading account or $200. Trade according to your trading strategy and be patient for your profits to materialize. 

Here is an oversimplified version of the math with the above parameters:

Year One
$2,000 Initial deposit (Month 1, Year 1) + 11 x $200 deposits = $4,200 x 20% (annualized gain) = $5,040 (again, oversimplified math!)
Year Two
$5,040 + 12 x $200 = $7,440 x 20% = $8,928
Year Three
$8,928 + 12 x $200 = $11,328 x 20% = $13,594
Year Four
$13,594 + 12 x $200 = $15,994 x 20% = $19,193
Year Five
$19,193 + 12 x $200 = $21,593 x 20% = $25,912
Year Six
$25,912 + 12 x $200 = $28,312 x 20% = $33,974
Year Seven
$33,974 + 12 x $200 = $36,374 x 20% = $43,649
Year Eight
$43,649 + 12 x $200 = $46,049 x 20% = $55,259
Year Nine
$55,259 + 12 x $200 = $57,659 x 20% = $69,191
Year Ten
$69,191 + 12 x $200 = $75,591 x 20% = $85,909
After ten years you will have $85,909. I recommend you keep adding your $200 per month and don't stop, but even if you do stop now your 20% per year will result in $17,182 per year in gross income. Keep at this with the above approach and in five more years you may be able to quit your job and retire. You see, all it took was $2,000 to start with, $200 per month, a trading strategy which yields 20% per year and 15 years of patience!

Need help? 


I will help you get on the right track!

Wednesday, April 15, 2015

USDJPY Buy Recommendation April 16th 2015

Currency Pair: USDJPY
Timeframe: Hourly Chart (H4)
Recommendation: Buy USDJPY @ 119.300
Take Profit @ 121.100
Stop Loss @ 118.000

The USDJPY is trading at a twin support level on the H4 chart and I think this will be strong enough to push this currency pair higher as I expect a short covering rally to meet a solid rebound in US housing starts which will be released today.

I am going long at 119.300 and look for a nice rally back into resistance. I don't like the US Dollar long, but in this case the signals point towards a counter trend rally.