If you’d like to share your trading ideas with others, please keep them in this thread.
11 Responses to “Trade Idea Central January 23rd”
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AUTOREFRESH 
Hi sean gbp/cad daily time frame clearly showing it is prepare to going for next leg down..what do you think for taking a short position in here. thanks
short aud/usd target 102.8 short term
97 longer term
Today short
AUD/USD 1.0468 risk abvoe swing 1.0494 or above figure 1.0510 target 1.0400
hi sean how u doing ?
i strated to trading forex but i dont know what i m doing if i want to be good trader what shoud i do?is there any one who can guide me?i m in sydney aus. thanks mite
Hi Jignesh. The best advice I can give is not to rush, nobody becoms a good trader overnight. Educate yourself as best you can and try and get a good idea of the type of trader you are ie short-term intraday or longer-term position taker. Practice sensible risk maangement and build your capital slowly; look on it as a 10 year plan
No need to be Sean, I just think it’s really nice idea that you guys came up with and I see it worth continuing in future.
Now ideas:
Short USDCAD below 1.0070 tp around 0.9880
short EURUSD from 1.3000 or 1.3250 TP around 1.250 or if we get there at 1.20
Long EURCHF from 1.2065 with tp around 1.25 or 1.28
Long USDPLN and EURPLN from 3.30 and 4.30 respectively. TIght stops below 3.28 and 4.28. TP around 3.55 and 4.58
AUDUSD long from 1.0380 sl below and tp at 1.0750.
That’s all for now, regards
FOR Jignesh.
I would reccomend you those books. Of course there are many more but it;s just sth to start with. Read them all and thoroughly.
http://docs.mta.org/cmt/reading/cmt1-reading_spr12.pdf
http://docs.mta.org/cmt/reading/cmt2-reading_spr12.pdf
http://docs.mta.org/cmt/reading/cmt3-reading_spr12.pdf
I know it’s already for examination level but if you really wanna be good in what you do…better to know more.
thanks mite
Great advice Sean. One of the strongest moves a beginner trader can make is to get flat when you are not certain of the market or its direction. Some beginners make the mistake of losing money and chalking it up as a learning thing. It costs nothing to learn lessons in Forex, but bad moves can force you to the sidelines in a heartbeat. I am short the EUR/JPY, unless Fridays 100.32 resistance is broken. This market already showed its teeth this morning with a big gap down, with large long term Italian debt auctions and the fancy cheap ECB loans spreading out, I am not sure that Italy will save the day here. More pain in the weeks to come, unless the leaders start giving more, than just finding new ways to borrow.
NZDUSD Short 0,8140 T 0,7810 SL abova 0,8240
AUDUSD Short 1,0627 T1 1,0210 T2 1,0075 SL abova 1,0760
Jignesh, I would recommend you checking out ForexTradingCoaches.com. You can learn enough about Forex to be able to teach a college level course — and, still not know how to be a consistently successful trader. It’s much better that you learn how to trade successfully from great mentors like Steve & Wade than try to know all about every indicator, pattern, fib level, etc, etc, etc. If you do go down the road of becoming a technical expert without learn how to trade, you’ll just have a lot of bad habits to break when you finally see the light!