Exclusive Ebay Deal on My Forex Products

Very special deal available this month only through Ebay! Click here to view the listing and take advantage of this special one-time-only deal! After this acution expires this bundle of Forex products will never be made available again!

This is the last time I will be selling my Forex products to consumers. After this auction ends I will be focused 100% on auto-execution and signal services to clients, as well as trading part of a large Forex Managed Money account based in the UK. I will be releasing details soon on the various ways that people can sign up for my signals.

Happy Trading!

Jeff
www.topforextraining.com
www.topforextrader.com

Analysts Anaylze Traders Trade

It is important to understand the difference between being a trader and being an analyst. The first one tries to make money through actual trading, while the later tries to make money by selling advice in some form. Always trust your own technical analysis beyond any other person's advice, regardless of the source. You MUST have faith in your own ability to analyze the market, and stop waiting for others to tell you when and where to take trades. One of the goals of my new mentoring program will be to teach my students how to think and "see the market" for themselves.

Check out any major Forex message board or chat room and you will see that there are always plenty of individuals willing to offer up their advice. Even better they can be so convincing that others in the room will blindly jump into a trade based on the advice! Best of all you can usually find two equally convincing traders both offering the opposite advice at the same exact time. Never ever enter a trade based on some other person's suggestion. Never ever!

You can even find professional paid analysts offering up contradictory advice, along with pivots, supports, and fibs that all differ from each other. That is why you need to have your own method of analysis that you know inside and out. You may be a day trader that is trading a minor downtrend, while the analyst whose advice you are reading is looking very long term at a major uptrend. Depending on the time frame you are trading it can and will completely change your perspective on things. Know the time frame you are trading. Know the profit you are seeking and stop loss you can accept. Know your entry and exit signals. If you are confused and struggling from month-to-month like many traders, I can help. My mentoring program will be starting within the next two months.

Until then best of luck traders!

New Mentoring Program Coming Soon

Within the next two months I will be launching a one-on-one Forex mentoring program. I will only be accepting one student per month, so obviously access will be limited in the beginning. The price will be reduced for the first few students, as this mentoring program is a new venture. Students will receive my exact Forex trading templates, all the indicators I use, and all the specifics on how I trade the Forex market every day.

I will help each student develop an individual trading plan that suits them. My trading style works quite well for people with limited time. I am very realistic in the fact that most people cannot trade full-time, but that certainly does not mean you cannot make nice profits by trading.

The training will last for six weeks and of course I will provide ongoing support after that period if the student has questions. As a special bonus for any interest student I will provide some instruction in the art of Qigong. I use Qigong daily to calm my mind before trading, and mindset is of key important to any trader that wishes to be successful.

Less is More

In both trading and the practice of Tai Chi, the two things I happen to teach, less is often more. In Tai Chi if you try to hard it will impede your results. You need to learn to let go. To let the ground support your weight, instead of tensing your muscles to achieve the same result.

In Forex trading the same concept applies. Trading less is far better than over-trading. You need to learn to let go of any preconceived notion about which way the market will head, and allow the market to tell you which direction it wants to head. If you wait long enough the trend direction always becomes clear. This is like the mud settling to the bottom of a stream after a hard rain and the waters suddenly becoming clear. When the water is clear, when the trend direction is easily seen, you can now forumulate a plan of high probability entry points.

Wait for the trade to come to you instead of chasing after it. We can think of the Forex market as tides of the ocean. They are either flowing in (high tide or uptrend), flowing out (low tide or downtrend) or in between tides (flat market). First you need to know what is happening at the current moment. I only like to enter during high tide or low tide, as I am a trend trader. If you have ever seen the ocean you know that even during high tide the waves still pull back. I equate this to the pullbacks or retracements you observe on a chart during an uptrend. Price will pull back to various Support points, before it continues the upwards move. Wait for these pullbacks and enter here. Let the current tide carry you on your way to Forex profits. Just recognize when the tide is beginning to switch directions.

Happy trading.

Trading EURUSD in the Forex Market

We have essentially been in a new uptrend move on EURUSD since March 4th of this year going by the daily chart. There was a minor retracement wave which had a peak high on 3/19 and bottomed out on 4/22. Since April 22nd the Euro has been a Long trade only in my opinion. Too many traders over-complicate things and try to trade way too often. When a currency pair is in this strong of a move, why try to fight against it? The best approach is keep buying pullbacks, until there is a reason not to buy them any longer.

Here during the Monday morning U.S. trading session I am watching for yet another Long entry. The first level I am watching is 1.4170, which would be a bounce off of the previous day's high. So far price bounced off that level once exactly one hour ago. If Price breaks through I will try for an even better entry at 1.4138, which is my 23.6% fib retracement level. If Price does not come low enough I will consider a Long entry around 1.4200.

I always recommend coming up with a plan, and for any trader that works with me personally in the future, you will come to know that I like to work in threes. Perhaps this has to do with my background in Tai Chi and Qigong, as the number 3 has a lot of prominence in Chinese culture. It also seem to be the maximum # of things I can concentrate on at one time. I use three different charts, to look at a currency pair three different ways. I zero down to three time frames to find a trade. I try to come up with three different potential entry points. I always try to remain adaptable so I can remain with the flow of the market.

Happy trading!

EURUSD 5/13/09 - New Downtrend or Minor Pullback?

I am currently holding part of a position in a Short I entered today at 1.3637. I have closed out half the position, and am holding the remainder for now to see what happens. Based on my technical analysis of the hourly chart we are now in a minor downtrend. This is confirmed by a lower low being achieved at 17:00 gmt of 1.3566, compared to the last minor down wave low of 1.3588, which occurred an 5/12 at 16:00 gmt. However, on the 4 hour chart, the low of the last down move is 1.3557, so we are still technically in an uptrend on the higher time frame charts. If Price reverses around that level, it would be an excellent time to look for a Long re-entry. However, if Price moves through that support level, I would now consider the Euro to be in a new minor downtrend.

At the time I am writing this it appears that the lower Support levels are holding for now, so this is certainly not a good time to enter Short. Try to wait for Price to retest the level between 1.3570 and 1.3550 for Long entry or wait for price to pullback to around 1.3650 for Short entry.

Happy trading!

EURUSD 4/21/09

EURUSD is currently hovering around 1.2950, which is a key level during the U.S. session today for intraday traders. Price has already bounced of this level several times on the lower time frames. Watch Price closely to determine a potential Long or Short entry.