Recent content by Alan Kingdon

Trading Goals What is your trading goal for 2010? How many points or pounds would you like to be making next year? Let’s break this down into smaller more measurable parts. By seeing the progress you are making towards your goal it will keep you focused and help make your overall goal more...

Thanks for your comments, most people get to step two then give up as they did not expect there to be so much effort and time required to get past this stage.

http://fxtraderpaul.wordpress.com/ Have not been trading this week, but some of the other traders have been posting updates to the above blog. Merry Christmas to you all, will start posting updates again in the New Year.

18/12/09 – Caught by the false breakouts Like fxtradersandy mentioned the last couple of weeks have been full of false breakouts, and today they caught me as well. EURUSD was the first trade setting up, on the 5 min chart we had a line of old support and resistance at 1.4370 and was again...

17/12/09 – The Head and Shoulders reversal pattern Overnight we have seen some strong dollar moves. Price action looked to be overextended and we started to see some head and shoulders reversal patterns forming on most pairs. The one that I liked the look of the most this morning was USDJPY...

What type of trader are you? The Van Tharp trader test By FXTraderPaul Here is a useful link to help define what kind of trader you are. It comes from the site of Van Tharp a well-known and respected Trader Coach who was covered in Jack Schwager’s book Market Wizards and was one of the final...

14/12/09 – Positive thinking Friday was a day where the mind was not fully focused on trading, I had a train to catch just before 9am and was getting my things together for the journey while trying to find trading setups from the charts. And in doing so completely lost all track of time and...

09/12/09 – Waiting for the opportunities Some days the trades do not line up for you, and Tuesday morning was one of those days. I could not identify any clear trends or obvious lines of support and resistance, so sat on my hands for a few hours before turning the computer off and going out for...

Greed Based Traders vs Fear Based Traders. Which are you? By FXTraderPaul There are plenty of ways to define what type of trader you are but lets start with a simple yet immensely effective exercise. Fear & Greed are the dominant emotions expressed in the markets on a day-to day basis (we can...

07/12/09 – So how was the Non Farm Payroll data for you? The expected numbers on Friday were forecasted to see a drop of 125,000 jobs in November, but the actual numbers were a drop of only 11,000. This gave strength to the US dollar through to the close on Friday. In the overnight Asian...

04/12/09 – Non Farm Payroll Data While we are technical analysis traders we still need to know the impact of economic numbers on the market. One of the most important set of numbers is the US Non Farm Payroll or NFP. It is an indicator of economic growth, the greater the increase in employment...

03/12/09 – Trading the break of support and resistance. On my first scan through the charts this morning I identified plenty of horizontal lines of support and resistance forming box plays. The first I noticed to break was EURUSD, and with this also breaking the big number of 1.5100 gave me...

02/12/09 – Groundhog Day This is a new post but it does sound very similar to the results of Tuesday’s trades. Noted GBPJPY had ran back up into the 50% fib level on the 4 hour charts so was looking for a short opportunity with this pair. On the 5 min chart noticed a clean descending triangle...

01/12/09 – Why we must always trade with a stop loss So the 1st day of December, the children are sat eating their chocolate from the advent calendars and I am sat looking through the charts for my first trade of the month. After the strong run on Japanese Yen there had been some profit taking...

http://fxtraderpaul.wordpress.com/ 30/11/09 – We do not win every day Today was one of those days where you look back and say “I wish I stayed in bed.” But we do not have the ability to trade with hindsight and we trade the set ups we identify according to our rules. My first trade today was...