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Thursday, April 30, 2015

GBPCAD Sell Recommendation April 30th 2015













Currency Pair: GBPCAD
Timeframe: Hourly Chart (H1)
Recommendation: Sell GBPCAD @ 1.8580
Take Profit @ 1.8280
Stop Loss @ 1.8800

I just took my short position in the GBPCAD and suggest to take any breakout above its resistance level to enter short positions. The British Pound has rallied nicely and those who were long off of its support level should now seek to take some pips out of the market. I think we will see a profit taking reversal anywhere above 1.8570.

The UK GDP came in lower than expected, but the Canadian GDP may be just enough to rally the Canadian Dollar and push it below resistance from where I expect sell orders to flood this currency pair.


 PaxForex


Monday, April 27, 2015

Trading Overview March 1st 2015 - March 31st 2015: 6,155 Pips Earned

 PaxForex
I have completed my overview of forex trades which I recommended between March 1st and March 31st. I had a total of nine trading recommendations which I published 100% free of charge and I always update you all on every trade regardless if I earned money on it or if I lost money on it. In my previous trading update I showed you how I earned 1,230 pips so far in 2015 on 21 recommended trades.

In 2015  my aim is to deliver 20% more pips in 2015 then I have in 2014 where I delivered 13,810 pips from 109 trading recommendations. Feel free to subscribe to my blog and follow me at TheLastBear!

Here is my forex trading overview for trades between March 1st and March 31st 2015:
  1. March 4th 2015 - GBPCHF Short @ 1.4760, Exit @ 1.4850 on March 5th 2015; Loss of 90 pips
  2. March 5th 2015 - GBPUSD Long @ 1.5250, Exit @ 1.5175 on March 6th 2015; Loss of 75 pips
  3. March 9th 2015 - EURUSD Long @ 1.0840, Exit @ 1.0700 on March 10th 2015; Loss of 140 pips
  4. March 11th 2015 - Gold Long @ 1,162.00, Exit @ 1,212.00 on March 26th 2015; Profit of 5,000 pips
  5. March 13th 2015 - EURAUD Long @ 1.3815, Exit @ 1.4415 on April 6th 2015; Profit of 600 pips
  6. March 16th 2015 - AUDCHF Short @ 0.7695, Exit @ 0.7245 on April 2nd 2015; Profit of 450 Pips
  7. March 18th 2015 - USDCAD Short @ 1.2800 , Exit @ 1.2450 on March 26th 2015; Profit of 350 Pips
  8. March 24th 2015 - Silver Short @ 16.85, Exit @ 17.25 on March 26th 2015; Loss of 40 pips
  9. March 25th 2015 - USDCHF Long @ 0.9600, Exit @ 0.9700 on March 31st 2015; Profit of 100 pips
Total Profits: 6,155 pips, 9 Trades, 5 Profitable Trades, 4 Losses, 0 Open Trades

My total profits for 2015 total 7,385 pips on 30 recommended forex trades. I operate this forex portfolio over at PaxForex and their tight spreads and execution speed allow me to earn more each time I trade.

 PaxForex

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.

 PaxForex

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.


 PaxForex

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.


 PaxForex

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? 

CONTACT ME 

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.

 PaxForex

Monday, April 13, 2015

GBPCAD Buy Recommendation April 14th 2015

Currency Pair: GBPCAD
Timeframe: Hourly Chart (H1)
Recommendation: Buy GBPCAD @ 1.8450
Take Profit @ 1.8700
Stop Loss @ 1.8350

I think the recent dip back inside of support should be taken as a good entry opportunity. The British Pound became way oversold and the Canadian Dollar has plenty of weakness ahead and remains very fragile.

Look for a nice short-covering rally and go long anywhere between 1.8365 and 1.8450. I am looking to close this long position around the 1.8700 level, but that could change depending on fundamental factors and the strength of the rally.


 PaxForex

Thursday, April 9, 2015

GBPUSD Buy Recommendation April 10th 2015

 GBPUSD

Currency Pair: GBPUSD
Timeframe: Hourly Chart (H1)
Recommendation: Buy GBPUSD @ 1.4715
Take Profit @ 1.4975
Stop Loss @ 1.4600

Today we will get industrial production, manufacturing production as well as construction output data out of the UK and I think we will see an across the board increase month-over-month which should be strong enough for a short-covering rally in the GBPUSD currency pair.

I also think that the increase in the US budget deficit as well as rise in import deflation will provide the necessary fundamental catalyst for a sell-off in the US Dollar.



 PaxForex

Wednesday, April 8, 2015

Trading Overview February 1st 2015 - February 28th 2015: 660 Pips Lost

 PaxForex
I have completed my overview of forex trades which I recommended between February 1st and February 28th. I had a total of nine trading recommendations which I published 100% free of charge and I always update you all on every trade regardless if I earned money on it or if I lost money on it. In my previous trading update I showed you how I earned 1,890 pips in January on twelve recommended trades.

In 2015  my aim is to deliver 20% more pips in 2015 then I have in 2014 where I delivered 13,810 pips from 109 trading recommendations. Feel free to subscribe to my blog and follow me at TheLastBear!

Here is my forex trading overview for trades between February 1st and February 28th 2015:
  1. February 2nd 2015 - EURJPY Long @ 133.000, Exit @ 136.000 on February 12th 2015; Profit of 300 pips
  2. February 3rd 2015 - EURCHF Short @ 1.0550, Exit @ 1.0700 on February 18th 2015; Loss of 150 pips
  3. February 5th 2015 - AUDCHF Short @ 0.7270, Exit @ 0.7350 on February 18th 2015; Loss of 80 pips
  4. February 9th 2015 - AUDJPY Short @ 92.70, Exit @ 93.50 on February 25th 2015; Loss of 80 pips
  5. February 17th 2015 - Gold Long @ 1,222, Exit @ 1,215 on February 18th 2015; Loss of 700 pips
  6. February 19th 2015 - AUDUSD Short @ 0.7820, Exit @ 0.7600 on March 12th 2015; Profit of 220 Pips
  7. February 23rd 2015 - AUDCAD Short @ 0.9830, Exit @ 0.9660 on March 10th 2015; Profit of 170 Pips
  8. February 25th 2015 - EURNZD Long @ 1.5040, Exit @ 1.4800 on February 27th 2015; Loss of 240 pips
  9. February 26th 2015 - EURGBP Long @ 0.7315, Exit @ 0.7215 on March 6th 2015; Loss of 100 pips
Total Losses: 660 pips, 9 Trades, 3 Profitable Trades, 6 Losses, 0 Open Trades

My total profits for 2015 total 1,230 pips on 21 recommended forex trades. I operate this forex portfolio over at PaxForex and their tight spreads and execution speed allow me to earn more each time I trade.

 PaxForex

Friday, April 3, 2015

NFP Report March 2015

Currency Pair: AUDUSD
Timeframe: Hourly Chart (H1)
Recommendation: Buy AUDUSD @ 0.7600
Take Profit @ 0.7850
Stop Loss @ 0.7500

I am looking for a NFP report which shows between 155,000 and 175,000 jobs in less than one hour and think that the US Dollar will drop quite a bit as a result of position shifting as well as plenty of stop loss orders being triggered. Too many think they can profit from gambling on economic reports and newbies should best leave the report alone altogether.

I would not be surprised if the household survey will show less than 50,000 jobs added. Don't worry about the unemployment rate as it is really worthless.

 PaxForex