Forex Trades: +151 pips for one day !!!

Currency trading is a business and I can say: I love this job...

Forex Trades of 03/11/08

Step #1: The Big Trend and the forex indicators.



1) We have MAE 14 > MAE 42 ===> The Big Trend is Up

2) RSI > 50 ===> That means the foreign exchange market wants to stay Up.

3) 85 < William's %R < 100 ===> The ForX market is oversold then the little pause is near of the end. In clear, it is just a pullback, not another trend.

Step #2: Low and High



Now, I look for the Low and the High to put my favorite fibonacci retracements.

If you want to know how I find Low and High, you have become a member of my free newsletter. I'll give many others trading secrets.

Forex trading is a business like I said at the beginning, so I don't want to be greedy. Don't transform a winning position into a loss.

My forex day trading system is not the best but it gives me some good profits.

Trade #2: +89 pips of profit

Step #1 : The best forex indicators ;-)

Forex indicators show me:

- MAE 14 < MAE 42 ===> The Big trend is Down

- RSI < 50 ===> The forex market wants to stay Down.

- 0 < William's %R < 15 ===> ForX is overbought.

In this case, don't take a Long position ;-).

Step #2 : Low and High



No matter about this gap, I follow my plan.

I look for Low and High to put my forex fibonacci retracements.



After the Down candlestick, I took a short trade position and go out with a divergence. +89 pips in my pocket !!!

Total = 62 + 89 = 151 pips !!!

May be you don't like my strategy, so you can find others profitable forex trading strategies in forex ebooks but it's not free ;-).

If you have any questions, send me a message, I'll be very happy to help you.