EURJPY

We have orders to sell EURJPY  at 129.60, 130.15 & 130.75. All Stop Loss set at 131.10. Probably will not be filled today, and we will re-adjust our entries today/tomorrow.

Risk is 1.78% of base equity.

AUDUSD

We bought AUDUSD  at 0.7133 and 0.7108. We would also buy at 0.7083. All stop loss are set at 0.7038.

Trade ideas

Good Morning blog,

Its a beautiful day, the markets are moving and we are ready to make some money.

We had a quick trade on AUDUSD last night, sold from 0.7235 for a 75 pip (0.5%) profit.

We are looking at selling EURJPY from 129.60, 130.15 and 130.75. We are looking to sell EURUSD  from 1.2990, 1.3030 and 1.3070. We are looking to buy USDCHF from 1.1680 and 1.1635. We would also buy USDJPY from 98.85 and 98.60.

We do not enter our whole position at once, we average in to a position. Our position sizing and money management is what makes us so successful, so we cannot give this secret away.

Trade well and be lucky.

Thoughts on opening sentiment

We expect the market to open short jpy pairs, so expect to see a bounce in eurjpy, eurusd, gbpusd etc and a dip in usdchf, usdcad etc, as these pairs were very busy thursday/friday of last week.

Medium term outlook for euro is bearish, so we will look to be setting shorts on eur pairs on rallies and we will aloo be looking to buy usd at lower levels.

We will notify the blog of maybe one or two of our trade ideas.

Good luck all!

The Art Of Trading

Trading the forex, or any market for that matter, takes a long time to learn and is certainly not for everyone. It takes patience, discilpine, a decent amount of capital, a good strategy and most of all sound money managment principles.

There is currently an abundance of so called trading robots being marketed on the internet. A word of advice STAY AWAY from them. They will ruin your account, trust me.

We have tried all of these robots on our VPS hosting on simulated market conditions, and they simply do not work. They all utilise extremely convincing marketing solicitation to hook clients to buy what are basically rubbish systems.

Remember when you were a child, did you ever dream of a machine that could make money? I certianly did, and this is what these robots play on.

If these robots were so successful, dont you think the banks would be buying them up and stopping the sale of them to have them for yourselves? Well, they certainly arent. You will not find a single one of these in any bank trading floor. At Citi in London, they have a huge trading floor, where there are literally hundreds of traders trading. Dont you think they would get rid of these traders and use these 100% profitable robots? Well, they arent!

Trading is an art, a science and a vocation all rolled into one. A robot cannot, and never will, be able to sumulate human behaviour entirely. And do you know what… the market is simply a collection of the sum parts of its participtants emotions. There are two major concepts in trading, and these are fear and greed. Does a robot understand fear and greed? No.

Please do not waste your time (and hard earned money) on these robots. Either learn to trade, or get a professional to do it for you.

I hope that saves you a few $$$!

First Post

Hi All,

This is our first post.

The markets are currently closed, but will be opening again on Sunday 9pm GMT.

We trade mostly the FOREX market, which is a $3Trillion per day volume mega market (ten times the daily volume of the major equity indices combined).

The FOREX is open 24 hours per day from Sunday 9PM through to Friday 9PM (all times GMT).

We will be giving out trade calls, free analysis and general mutterings from the world of trading.

Please feel free to participate.

Hello world!

Welcome to Excel FX Managed FOREX and CFD Accounts blog.

Please participate in this blog and feel free to ask us any questions.