Trading Blogs

A few things happened today some of them good and some of them bad. Today the market did not move a whole lot making trading very difficult if not nonexistant. It slowly crept in an upward trend. 

I want to point out a great trade I had today as well as a poor one. The good trade starts at the green bar near the top of the bolinger band. I could have been a little more patient on my entry but wanted to make sure I got in the trade. As you will price moved swiftly down to the bottom BB and hit my take profit for a nice 2.5 points. 

The poor trade is the last red line you see. What happened is that I entered in at about 12:45pm knowing that the market closes at 1:30 pm, so I thought. I could have made an exit with a nice profit but decided to hang on for a few more bars until 1:20 pm. Well at 1:15 pm the market did not allow me to close my trade due to after hours trading. I was unaware that this happened as I am not usually in trades this late in the day. As result I ended up finally getting close for a small loss. 

Today is an important lesson. If we know there is news to be announced that can substantially alter the market it should not be traded. The FED made an announcement on the US Economy today that sent the market into a frenzy. In the span of 30 minutes the market dropped 9 points and then rose 15 points. 

Have a look at the chart to see just how unstable it was. When announcements happen the market is unpredictable making any system ineffective. 

ProfitBinary Trading Alerts for 6-20-2012

BUYS:  0 Alert

SELLS:    1 Alert

View the Trade Alerts after the jump...

NOTE: 40 point alerts are 2 unit trades, 30 and 20 point alerts are 1 unit trades.

Buy Alert: None

Sell Alert: Dow Jones Industrial (DJI) - 2929.85 - Daily - 20 Points 

ProfitBinary Trading Alerts for 6-19-2012

BUYS:  0 Alert

SELLS:    1 Alert

View the Trade Alerts after the jump...

NOTE: 40 point alerts are 2 unit trades, 30 and 20 point alerts are 1 unit trades.

Buy Alert: None

Sell Alert: NZD/USD - Daily - .7930 - 20 Points

Today was a tough day on the market. Ended up right around even but did want to point out a quality trade. 

Above you will see I entered at the bottom of the Bolinger Band. Price did continue down some but I showed great patients and trust that I made a valid trade. Price eventually went up to the top BB and I exited. 

Next you will see the trade directly after. I had a few chances to exit with profit on this trade but I never had a reason to exit. Again, showing good patients I staying in the trade and ended up breaking even. Overall, yes I could have had a nice profit but I am happy with trade. 

It was a great winning week. This weekend will make for a very interesting Monday with all the elections in Greece and the turmoil in Eygpt. 

I wanted to point out a trade I made today that had a lot of reward with little risk. Below is a trade that I made at the top of the BB as well as top of a horizontal trendline. I was hoping that price would break out to the bottom forming a double top and then it would have been huge. This did not happen and as you can see bounced from the bottom trend. This confrimed my exit out of the trade. 

ProfitBinary Trading Alerts for 6-15-2012

BUYS: 0

SELLS:   1 Alert

View the Trade Alerts after the jump...

NOTE: 40 point alerts are 2 unit trades, 30 and 20 point alerts are 1 unit trades.

Sell Alert: 1 

Dow Jones (DJI) - ,767.10 - 20 Points 

Profit Binary Alert for 6/15/12. 

Buy: NONE

Sell:1 Alert

View the Trade Alerts after the jump....

NOTE: 40 point alerts are 2 unit trades, 30 and 20 point alerts are 1 unit trades.

Sell Alerts: EUR/USD - Daily - 1.26275 - 20 Points  

Today was a fantastic day of trading, two really great trades and one trade that broke even. Today I was focused on letting the trade play out until I had reason to exit or move my stop. The result was bigger profits instead of getting stopped out early.

Above is the best trade of the day. I was able to get a great entry on the bottom of the Bolinger Band. Price went up and I thought about exiting but did not have a reason to exit. My reason for exiting would have been if price formed a new low after going up, which never happened. By being patient I was able to stay in the trade and get the most out of it which was 2 points. 

ProfitBinary Trading Alerts for 6-14-2012

BUYS: 1 Alert

SELLS:   1 Alert

View the Trade Alerts after the jump...

NOTE: 40 point alerts are 2 unit trades, 30 and 20 point alerts are 1 unit trades.

BUY ALERTS:

SELL ALERTS: