TFL-TV Non Farm Payrolls Webinar

by robbooker2 on July 6, 2012

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Some Obvious Things I Might Forget

by jennifer on May 19, 2012

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Hello Yo’s. I usually try to avoid my computer on Saturdays but I’m dropping in a note for you, thinking about market conditions. Market conditions can go on for months and months, and our trading gains come in like clockwork. And then in one day the market condition can change, and what worked so well for the past six months may not be working as well now. This should make your trading fingers pause. Put down the mouse.

The markets were steadily ranging for the past 4 months, and ranging markets are fabulous for Combo Trading. When the market changes gears and begins to trend, a couple things change for us. Obviously, the trending direction can go on for a long time, and our trend continuation setups have a lot of potential. Secondly, the retracements are fewer but more extreme.

I was comparing notes with Rob yesterday, and in the course of this discussion I made the point that it’s not the time to hold any losses at all. If I enter a trade and it does not move immediately in my direction, I want out. I don’t want to have risk on when the trends are beckoning. I had to laugh when his response was this. While it’s true that this is not the time to hold onto losses, it is a GREAT time to let some winners run. Duh! Why didn’t I think of that!

I’m naturally focused on not losing what I have. It’s part of my strategy for making money.  We are all excellent traders, the hard part is keeping what we earn in our accounts, right? Well, I do appreciate Rob pointing out the same is true going the other way, the winning way.

So this is a note to Self, and a note to you to keep in mind that the market has changed. When trends break out they can be huge, but the retracements can be huge too. Here is what that means for me this month. I am more cautious with entries. I want to enter my trades a little late rather than a little early. I want some proofs. Once I’m in the trade and have my stop safely set to break even, I will leave my profit targets open and see if I can capture some larger gains during the trending market phase.

Just a few thoughts as you’re planning for next week’s setups.

Enjoy the rest of the weekend. See you Monday.

Jennifer

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What Goes Around Comes Around

May 7, 2012
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Good Morning Trader Friends. What’s on your trading-mind this morning? Are you watching price move around around your charts? Sometimes I feel like a cat perched on a windowsill watching birds flying around. How I wish I could just grab one! Are you reading up on economic reports, data reports, political actions, and global weather? [...]

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GBP/CAD — 20 pips out of 100. Was I Right To Close? Trading Conundrum

April 25, 2012
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Hello Trader Friends, Here is a common trading conundrum… GBP/CAD:  I had taken this trade and stopped out at break even several times in the yellow shaded area. I took off for the day, but kept an eye on my open position (from my phone) so I could move to break even, yet again. I [...]

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The Answer Is, Ask Another Question

April 12, 2012
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Why do people lose money trading? There are only two ways the trade can go, for you or against you. All of the trading systems and fundamentals in the world amount to hundreds of thousands of dollars in training and education, and when it comes right down to it, it’s a 50/50 chance that your [...]

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GBP/USD — A little flat, but don’t blink before you make a trading plan

April 11, 2012
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Good morning Trader Friends, Here is a GBP/USD chart. Not that impressive, but I do see 30 pips waiting for me on the outskirts, up or down.  

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Tuesday, April 3, 2012 — GBPUSD +64 PIPS

April 3, 2012
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Hello Yo’s! Well, Rob, I guess we were both right. My move went all the way to target. I happily took 64 pips out of a range of about 120. Your target was 1.5900, and it went just a bit farther than that. I think it will fall a bit more tonight, based on these [...]

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GBP/USD update – April 2, 2012

April 2, 2012
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I like a sell trade at 1.5990 – below the cloud, stop above 1.6060, target at least at 1.5900: (in response to Jennifer’s post this morning)

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Monday, Apr 2, 2012 — GBP/USD Monday Accelerator trade gives support to my Combo setup

April 2, 2012
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Good morning Trader Friends, I have a trade setup to share with you. The first chart is a pivot setup, I know you will recognize. This is an old setup I learned from Rob Booker, called a Monday Accelerator. I always look for a setup on Monday morning where price is distant from the new weekly [...]

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USD/CAD Thoughts – 5M Chart

March 26, 2012
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A short-term view of the USD/CAD. I know some of you appreciate a “quickie” every once in a while. I like a buy trade only if the pair jumps above .9975, and I don’t even much care for it then. I’d rather sell. Here’s how and why. I like a sell trade if we rise [...]

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