Daily FX | Dynamic Trader Blog

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

Conservative Forex Strategy

Morning forex traders. Speaking with Javid yesterday I understand I would like to give congratulations to Bijal for doing so well with our Double Deviation strategy.

Today I have decided to give you a conservative reversal entry. I have chosen the GBPJPY as it is at the support level to demonstrate this. If the GBPJPY reverses then you can go in to the trade early with aggressive strategies as Javid has demonstrated previously on the forex webinars. Using a more conservative and longer term method (well, at least until the next cat 2 or cat 3) we will ignore a minor reversal. Two reasons for perhaps ignoring this is one it is against the current trend and two it could be a breather before it produces a continuation.

So, filtering out this minor bounce and determining it is more likely to be a reversal we need to add a couple of things. The first would be support level in a downtrend (resistance in an uptrend) to identify zones of reversal. The second would be Regression Trend Channel with Pearsons turned on. If price now closes above the Regression Trend Channel blue line then we will use an entry method (with filter) to enter this trade and manage it using one of the methods shown on our mentoring webinars.

The software used in my charts is Advanced Get. If you would like to buy Advanced Get then feel free to contact me. You can learn more about AdvancedGet here.

More forex analysis here.

Good dynamic trading.

FX Analyst
Anne Chapman

Advanced Get GBPJPY Chart

Triangle Formation

Hello Dynamic Traders,

The GBPJPY is completing a traingle formation on the weekly time frame. This cross is producing multiple divergences and we have the figure and triangle upper trendline acting as a resistance. Watch for a reversal indication or a breakout using our ESLT although we favour a reversal more.

Put this onto your watchlist for next week as this cross will be providing moving quite some pips in the weeks to come. You can read more at our other forex analysis website.

Have a good weekend.

Forex Analyst
Anne Chapman

Chart below is courtesy of Advanced Get. Data provided by eSignal