Daily FX | Dynamic Trader Blog

Conversation with a FX Trader

Good afternoon dynamic traders,

This week has been a busy schedule for us and right now is the first time I have had to sit down and catch up. As some of you know we went rally driving on the weekend which was awesome! Driving at speeds in excess of 100 mph and more importantly driving those speeds legally is a great thrill and very entertaining.

Stayng on the topic of driving, I wanted to share with you the success a certain individual has been enjoying. Saba Jackson who you will all know from the updates on www.fxcps.com has been trading for a couple of years now. I gave Saba a one to one mentoring session and it was soon after that I realized Saba demonstrated a high degree fo competence and abality in forex trading. In less than two years Saba has moved over from financial advising to financial trading and now earns in a week what some employees just about earn in a month.

If I was to pick out one aspect of Saba that I could share with you all other than her immoderate eagerness and relentless passion for forex trading, it is simply her ability to follow through. Many traders want to learn to trade for more money, better lifestyle, a nice car, more holidays and the list goes on. During my conversation with Saba earlier this afternoon I asked a few questions and the end result I found what I was looking for. Saba is an ordinary person with an extraordinary drive. In her own words, she does not recognize the term failiure.

Many people give up trying to get good at something as soon as any form of discomfort shows up and this holds more truth in the trading world than anywhere else as almost all the discomfort is psycological. Those that strive to surpass this destroying threshold will beneift and can enjoy a life way beyond the dismal rat race.

If you are someone learning to trade and sometimes think you are not cut out to be a trader then welcome to my past. I have entertained similar thoughts and like Saba I persevered. I will encourage all of you reading this and trying to become successful forex traders, seek education and continue to practice. I do not believe practice will ever make anyone perfect but it will certainly make you a good trader.

www.fxcps.com
www.fxcps.co.uk
www.fxcps.eu

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Good dynamc trading.

Javid Shaik
Forex Analyst

The Need for Training

Good morning dynamic traders,

I spent Saturday learning to rally drive in our specifically purchased Honda Civic Type R and must tell all you car enthusiasts that if you enjoy driving then you got to do this experience. Not many times will you have the opportunity to drive at speeds in excess of 100 mph around bends and especially without looking over your shoulder for blue flashing lights.

I firmly believe if you want to learn how to do anything well then get training so thats exactly what we did. We enlisted the help of a professional whose training managed to get us the most of not only our car but also the race track. Just ask the driver in the Nissan Skyline who attempted the same speed and manoeuvre through the chicane behind Javid and found his car about-faced. Looking forward to our next lesson in the next couple of weeks.

This morning the main currencies seem to have taken a reversal. We are short the AUDUSD and locked in profits. The USDCHF has already reversed and we are looking for our entry on this pair. Also watching for USDCAD for a possible entry on this pair too.

I would like to thank our Dynamic Traders John Maher, Clayton Farnworth, Bijal Shah, Saba Jackson and Richard Monnery for all their ongoing help and willingness to share their daily trading with everyone.

A new trading week has begun so another week of profit and loss. I hope all readers of the dynamic trading forex blogs more successful trading.

Good trading.

Anne Chapman
Currency Analyst

Another Dynamic Trader

Good morning traders,

I thought I would share some information with you and a reminder to those of you using our 3D strategy. Since September 2008 when I was in New York, the implementation of 3D on the GBPJPY cross (a favourite with many of you I know) has accumulated over $23,000 with 50 winning trades and the losers and breakevens accumulating to 32. Thats not bad for a total of less than a weeks work in 6 months.

On a seperate note, I had a conversation with one of our students today who after immersing himself into the world of forex has now become a dynamic trader. Kartik has been enjoying a lot of success since the back end of last year with his trading and earning more through forex than his joband has now given himself another 2 months to confirm and continue his consistency and will then be moving on to become a full time trader and leaving his old routine behind.

Kartik very kindly sent us his testimonial which you can read here. On behalf of all of us we would like to congratulate you and wish you good luck and plenty more success.

Don't forget, our forex blogs can be viewed by the links below.

www.fxcps.eu

www.fxcps.co.uk

www.fxcps.com

I will not be posting on Friday so I will end my week here. Hope you all have a very good weekend

Javid Shaik
Forex Analyst

Dynamic Traders

Good evening dynamic traders,

Those of you who traded the GBPUSD from Javid's analysis below earlier today should be managing the trade now if you are still in this.

I wanted to welcome Richard Monnery to the Dynamic Trader group and wish him all the success in his forex trading career.

I also wanted to mention a couple of new sites run by Clayton on behalf of Dynamic Trader Ltd which will be some discretionary and mostly systematic trading. This will be an interest to those if you who use Metastock, Tradestation or need trading rules with mechanical entry and exits as opposed to guessing or trading with greed and fear. From what Javid has mentioned, Clayton will be covering over 2009 on both fxtts and forextrendtradingsystem I am looking forward to the updates in the future. I guess when you no longer work you want to fill your time in other ways and clearly Clayton has lots of time available soon with forex trading being his full time career.

I too want to say thank you to two very special people. Ash & Bijal who took us to Iceland for a holiday and one we will never ever forget. As Javid has already said and I must agree it certainly was life changing. Thank you both for a very eventful time.

Good luck to those of you on Javid's mentoring course.

Good trading.

Anne Chapman
Currency Analyst

Dynamic Trader

Hello forex traders. I know I don't often do an update but today I wanted to welcome our newest dynamic trader and so I though it would also be a suitable excuse for a forex analysis too.

Firstly, I would like to thank Bijal Shah, Saba Jackson, Clayton Farnworth, John Maher and Ash Shah for all the time and effort they put in in helping you to learn the forex markets. These are all very special people who want to help people acheive their trading goals and success and spend hours a week of their own time. Thank you guys.

I would also like to thank you the readers for your positive emails regarding the forex blogs. We get many emails a day and although we do try to keep on top of them and respond to them all, it is quite often difficult to do so. So, for those of you who have written in regarding the daily FX updates, thank you for taking the time and for your kind words.

Now, I would like to introduce you to Richard Monnery. The latest dynamic trader and one I know you will be following to further your education in the currency markets. I mentored Richard in forex less than a year ago and from knowing nothing at all about trading he has gained a good understanding of the forex markets. Please understand that this means Richard is very much still in the embryonic learning phase and obviously has a lack of experience unlike the other forex traders you all know from the Dynamic Trader blogs but it will be interesting to watch Richard evolve into a complete dynamic trader during 2009.

I have listed the dynamic trader forex blogs so please add them to your favourites and visit them daily. All three forex blogs are different so make it your daily routine to read these forex traders analysis.

FXCPS.co.uk

FXCPS.com

FXCPS.eu

Now for my analysis. Below is a daily GBPUSD chart which I was talking about with Richard whilst the initial set up was taking place only yesterday. We hit the figure in a downtrend against a trendline. Stochastics shows overbought with a fib reversal tag. Yesterday this was an immediate short and the range moved about 150 pips down today. If we have break above then apply the ESLT to trigger the trade but as the trend is down, beware the risk involved with such a move unless you have a good understanding of the confluence of events involved. This is a short analysis for a chart that I think is quite obvious so I will leave it to you to follow through on what you think the complete analysis and way forward should be.

Chart courtesy of Advanced GET. Data supplied by eSignal.

On a final note, on behalf of Anne and myself, I would like to thank Ash and Bijal. Recently they organized a trip to Iceland for all of us and we had a great time as well as a phenominal experience. An experience non of us will hopefully have to relive but one that was life changing and will remain a magic moment. Thank you both.

Hope you all have a great trading week.

Javid Shaik
Forex Analyst