(FxPM) Forex Price Movement: Trade of the Day

Today, during a slow market day, there weren’t many opportunities taken advantage of on our recording, but we DO have a snippet from September 16th, 2011 where Senior Trader Josh Wilson takes an over-under trade on the EUR/USD Currency. He waits for the price to get down to big-figure, which happened to be in first Buy-Zone on the FxPM Matrix, then takes a long position. After strategically maneuvering his entries and stops, he is able to anticipate a retracement and break-even on two fills, while making seven pips on another! Learn how to consistently profit in the Forex market by identifying precise entries and exits with FXPM and Forex Successful Online Training School.

Today Chief Trader Armando Martinez goes into some detail about some of the mistakes that we as traders may make, especially when the market is breaking out. It is important to have a set of rules, and even more important to abide by them. These rules are what keep your trading grounded and they are the foundation that serve as a constant reminder of how you should be trading if you see negative results. Disciplined trading is a very important aspect of consistent profits so traders should remember to set tight stop-losses. Staying out of the market when there is a lot of movement isn’t a bad thing at all, and the more that traders keep that in mind, the more disciplined their trading will be! Learn how to consistently profit in the Forex market by identifying precise entries and exits with FXPM and Forex Successful Online Training School.

Today, Chief Trader Armando Martinez takes an active position on the AUD/USD Currency Pair. He times his entry using correlation between the AUD/USD and the GBP/USD Currency Pair, watching PMDs in all 5 time-frames of the FxPM Matrix. He is in this long position for under 8 minutes, and after setting his stops and eliminating all risk from the trade. He then waits patiently for the price to meet his target exit-level before getting out with +6 PIPS of profit. Learn how to consistently profit in the Forex market by identifying precise entries and exits with FXPM and Forex Successful Online Training School.

Today, Chief Trader Armando Martinez takes a trade on the EUR/USD as the price continues on in a range-bound market. He takes a long active position off the low of the range, and sets a tight stop-loss in case of an unfavorable break-out, then sits back and watches. He isn’t in the trade longer than 5 minutes, and is able to see pretty immediate profits. He takes his +9 PIPS of profit when the price meets the pink PMD in the 1M Time Frame of the FxPM Matrix. Learn how to consistently profit in the Forex market by identifying precise entries and exits with FXPM and Forex Successful Online Training School.

Today, Chief Trader Armando Martinez takes a short position on the EUR/USD and uncharacteristically passes on several opportunities to take points in anticipation of the price driving itself even lower. He takes his entry after doing his homework on the EUR/USD and seeing that the high for the day is meeting PIP-ONACCI Walls that act as resistance levels in both the 4-Hour and 5-Minute Time Frames. He takes his short position and adjusts his stops and limits accordingly. His patience pays off, as the price breaks through the low of a range and provides his +51 PIPS of profit! Learn how to consistently profit in the Forex market by identifying precise entries and exits with FXPM and Forex Successful Online Training School.

Today, Chief Trader Armando Martinez takes a long trade on the EUR/USD, explaining, thoroughly, some of the intricacies of the FxPM software. He watches PMDs in the 1M and 5M time frames, and times his entry based off a flip in direction of the PMDs in the 1M column. Once he’s in, he demonstrates the best way to protect oneself when in a trade. Armando first places his emergency stop-loss, then moves it up to allow a maximum -7 PIPS loss. Shortly after minimizing the risk on his trade, he exits with +6 PIPS and explains that this is just enough. Understanding that alone is one of the key factors behind his method of consistent profitability. Learn how to consistently profit in the Forex market by identifying precise entries and exits with FXPM and Forex Successful Online Training School.

Today, Chief Trader Armando Martinez goes into detail about placing stop-loss orders on the FxPM software. He starts by taking an active, short position on the EUR/USD currency pair. Adapting to a new system with a different set of mechanics will obviously take time, so Armando uses this practical example of setting stop-losses on his own trade to demonstrate the simplicity. He first starts with his emergency stop of -21 PIPS and notes key differences between placing orders on conventional trading software and doing so on FxPM. Armando then adjusts his stop to -10, then -7, then breakeven, taking points along the way! Learn how to consistently profit in the Forex market by identifying precise entries and exits with FXPM and Forex Successful Online Training School.

Today, Chief Trader Armando Martinez breaks down why the FxPM software makes it easier for traders to view multiple charts on different currency pairs at the same time. He explains how one currency pair on an FxPM Matrix shows a montage of charting information in a completely new way, while also opening eyes on traditional charting methods. He talks particularly about the Follow the Leader Trade Setup, which is the basis of many of more advanced trade setups that Armando, on a daily basis, is able to take advantage of. Learn how to consistently profit in the Forex market by identifying precise entries and exits with FXPM and Forex Successful Online Training School.

Today, Chief Trader Armando Martinez teaches traders a valuable lesson on greed. He talks about how many traders are able to see points, but don't take advantage of them in time to see these points benefit their accounts because they stay in trades too long or leave large stop-losses. Armando demonstrates the Forex Successful Traders way by taking +6 PIPS on an active, long position on the EUR/USD currency pair, rather than letting the price come back down to meet his stop-loss. +6 PIPS, he points out, may not seem like much, but +6 PIPS here and there will add up, especially when viewing it in terms of a trader's account.

Today’s Trade of the Day consists of every trade taken by Chief Trader Armando Martinez during a very volatile market after nonfarm payroll numbers and unemployment numbers were released for January. He first warns novice traders about the dangers of trading nonfarm payroll sessions, as even the most professional traders find it ideal to stay out of the market. Even Armando himself prefers to trade his demo account on days like today. Armando starts out today’s video with a short snippet on what to expect and the general market sentiment based off a day chart on the EUR/USD currency pair. Once numbers are released, we dive into four different trades, all of which Armando quickly enters and exits with PIPS. These short but profitable trades demonstrate the true value of the scalper’s mentality. Learn how to consistently profit in the Forex market by identifying precise entries and exits with FXPM and Forex Successful Online Training School

Today, Chief Trader Armando Martinez does some analysis on a Forex Successful Trader’s mentality when taking trades, while also pointing out one of the major advantages of the FxPM Software. Armando points out that only opportunities of upwards of 70% success should be taken, because otherwise, traders are only playing a game of chance. A range-bound market doesn’t present too many opportunities of this nature, and so Armando sits on the sideline and waits patiently. He then dives into how multiple Fibonacci Levels can be seen when looking at the EUR/USD FxPM Matrix. Learn how to consistently profit in the Forex market by identifying precise entries and exits with FXPM and Forex Successful Online Training School.

Today, Chief Trader Armando Martinez takes an active trade on the EUR/USD currency pair during the opening bell. After gauging the general market sentiment and seeing that the price is coming to a PIP-ONACCI Wall on his 5 Minute Chart, he takes two short fills and makes sure to set his stops carefully to minimize risk on the trade in case the price ran against him. He quickly exits his first position with +2 PIPS of profit, then moves his stop to breakeven. Once the price meets the Pink PMD in the 1M Time Frame of the FxPM Matrix, he leaves the trade with +11 PIPS of profit! Learn how to consistently profit in the Forex market by identifying precise entries and exits with FXPM and Forex Successful Online Training School.

Today, Chief Trader Armando Martinez gauges the EUR/USD currency pair as it breaks lows for the day. In a succeeded attempt to break lows, the price ventures into passive territory as it breaks into the first Buy Zone on the FxPM Matrix. Here, Armando decides to take a long position and immediately sets his stop-loss to -7 in case of a breakout. The price retraces, and after holding for close to nine minutes, he decides to exit with +11 PIPS of profit! Learn how to consistently profit in the Forex market by identifying precise entries and exits with FXPM and Forex Successful Online Training School.

Today, Chief Trader Armando Martinez takes a trade on the EUR/USD currency pair as it breaks highs for the day. He waits patiently for the price to enter the first Sell-Zone on the FxPM Matrix, then takes his entry at the 1.3318 level. Because the price is already establishing a new high, Armando finds it appropriate to set his stop-loss at -7 immediately in the case of a breakout. It doesn’t take long for him to see some pips, and he sets his stop to breakeven to eliminate all risk from this passive position. After a few more minutes in the trade, Armando takes +12 pips of profit! Learn how to consistently profit in the Forex market by identifying precise entries and exits with FXPM and Forex Successful Online Training School.

Today, Chief Trader Armando Martinez takes an active position on the EUR/USD currency pair. He carefully takes his entry, using a PIP-ONACCI Wall in the 4H time frame as support, and ends up taking 2 long fills on the trade. He exits the first fill with +4 PIPS of profit before protecting his position and eliminating the risk on the remaining fill by placing a stop-loss at breakeven. After exercising a bit more patience, he exits his second fill with +9 PIPS of profit. Learn how to consistently profit in the Forex market by identifying precise entries and exits with FXPM and Forex Successful Online Training School.

Today, Chief Trader Armando Martinez takes an active trade on the GBP/USD currency pair. Armando takes his short entry on the price as it approaches a black PMD in the 1M time frame of the FxPM Matrix that has proven as a level of resistance. He then protects himself with a tight stop-loss in case the level doesn’t hold. Once he minimizes the risk on the trade, he waits about a minute before seeing some PIPS and deciding to adjust his stop to breakeven. Learn how to consistently profit in the Forex market by identifying precise entries and exits with FXPM and Forex Successful Online Training School.

Happy Valentines Day traders! Today, Chief Trader Armando Martinez takes a trade on the EUR/JPY Currency as the price approaches a black PMD in the 15M time frame of the FxPM Matrix. He sees it as a level of support and takes two long fills, making sure to minimize the risk on the trade in case the price breaks through the level. He is very patient with this trade and only takes his PIPS once the price meets a pink PMD in the same time frame. In a total of roughly 20 minutes, he sees +9 PIPS of profit off his first fill and +12 on the second! Learn how to consistently profit in the Forex market by identifying precise entries and exits with FXPM and Forex Successful Online Training School.

Today, Chief Trader Armando Martinez takes an active trade on the AUD/USD currency pair as the EUR/USD breaks lows for the day, late in the London Session. The trade consists of two long fills and Armando takes his entry at a PIP-ONACCI Wall in the 15M time frame of the FxPM Matrix. He makes sure to set a tight stop-loss in case the price breaks out. Once he is satisfied with some PIPS on his first fill, he moves his stop to breakeven. Waiting patiently after that, he exits his remaining fill, taking +18 PIPS altogether in a matter of only 7 minutes! Learn how to consistently profit in the Forex market by identifying precise entries and exits with FXPM and Forex Successful Online Training School.

Today, Chief Trader Armando Martinez explains the classic and very reliable Power-V strategy as it is forming on the EUR/USD currency pair. As he examines the FxPM Matrix, he explains what to look for as far as positioning of the price relative to PMDs in the 5-Minute time-frame and positioning of the PMDs themselves. Note the “V” formation that takes place providing opportunities for short-term reversals in the market. Armando then explains what traders should look out for if they do enter a trade, in terms of today’s market and the EUR/USD’s high for the day. Learn how to generate consistent profits and emotion-free trading in the Forex market long-term with the FXST Trading System.

We experienced some technical difficulties as the recording for today was corrupted. Fortunately, we have posted a trade from February 17th, 2012, where Chief Trader Armando Martinez takes a trade for breakeven. In this trade, Armando looks at the GBP/USD currency pair and goes into a bit of detail about his trade-management and his thought-process. He first explains that he is risking half as much as could be rewarded to him on the long position taken. He then talks about setting a tight stop, in case the support level consisting of black PMDs in both the 1-Minute and 5-Minute time-frames of the FxPM Matrix breaks through. Learn how to generate consistent profits and emotion-free trading in the Forex market long-term with the FXST Trading System.