I am WAY too tired to have traded tonight. I did take one trade about an hour ago…and still continued to diligently watch the market, but nothing else setup that I liked. So, I’m done.
Plus, the market has not been very easy to trade. In fact, it’s been quite challenging the past several WEEKS. This is quite typical of the summer months!!! — Well…summer in the Northern Hemisphere
This just means that I have to be even MORE selective on my trade setups. It also means that I will NOT get as many trades as I might like. But, that’s okay. I *must* take what the market gives me. I simply cannot “push the market around” and make it give me anything.
One of the things that has made the EUR/JPY so challenging to trade is that when price is nearing a Logical Forex Magnet line, price seems to bounce quickly and “big” away from the Magnet Lines…price is “repelled” in other words. What that means is, I need to be VERY convinced that price is going to continue it’s movement in the direction I’m trading…and that means I will have to be even more patient…perhaps giving up a few more pips…but truly trading with the momentum of the price. If it stalls or is moving slowly…it’s just too dangerous to try the trade.
I’m going to show you the only trade I took, around 1am US/Central. And, then, I’m going to show you a chart and I want you to determine what YOU would do.
Here we go…but before we get started, I want to remind you that you can click on any chart to expand it in another browser window (or tab). Just close that window (or tab) to return here. Okay…let’s go…
### EUR/JPY Market Structure Zoomed Out
Look VERY closely. What do you see? Is there a reasonable flow in the market? Is there structure to the flow? Here is a hint…”divide” the chart. Do you see some structure now? Is there any relationship of that structure to the Logical Forex Magnet Lines? Of price?
Oh…and by the way…what time is it?
*** TRADE #1
Do you see how patient I was? There were lots of little “semi fake outs”…or were they really? Yep, this wasn’t easy…espeically if you’re the type of person that “shoots everything that moves. That’s a FREQUENT Trader…NOT an Agressive Trader. There is a HUGE difference. But…perhaps the biggest thing that helps is…do you REALLY know your currency pair? Are you willing to WORK AT IT to KNOW your currency pair like you do your spouse or your best friend?
With the market so, well, jittery, and me so tired, I didn’t trade max lots…but enough to make it worthwhile. How much is that? Well…ANY profit is Good Profit. Remember The Secret Forex 4.2 Formula? Profit is Good. Compounding Profit is even better.
Anyway, I exited as soon as price went against me. The static chart just doesn’t show you what I was seeing on my broker panel. There was this little pause in price right after it moved away from the Magnet Line…but was presenting itself in a real “fast” move…but not so fast that I couldn’t trade it. So…I took it, and exited with about 6 pips net. (Remember The Secret Forex 4.2 Formula!) Notice I did not hesitate to get out, either. I like these “instant profit trades”.
Now, before you look at the next chart…scroll back up a bit and look at the zoomed out chart.
Do you see that Magnet Line near the bottom of that chart image? Might that be a reasonable place for price to reverse?
Go ahead…scroll back now and look at that chart again…and then look at the next one.
Here is an image zoomed out that show the trade I took. Do you see what it was a Good Idea to get out when I did…in addition to the regular reasons I exit? You need to have a little bit of “memory” about what you have sen in the market…because the market sure has a memory! Maybe that’s something else Logical Forex Magnet Lines show you? Maybe they really show more than simple support and resistance?
And…here is what happened…the zoomed out version that shows the trade I took…the exit I made…and what happened shortly afterwards. Do you see any “structure” to this “flow? Do you see how price is continually attracted and repelled near thos Magnet Lines?…and the Flow, too? Does this give you an edge? Do you need to “predict” this? (NO!!!) Just let price tell you what it is DOING…not what it is GOING to do!
Are you beginning to more clearly see how all of this “works together”? Do you include YOU in that equation? EVERYTHING…the market AND you MUST “work together”. If anything, and I mean ANYTHING is “out of sync”…don’t trade!
Now it is “test time”.
Think back what the context (zoomed out) of the market is from that immediately previous chart.
Now…some time has passed…and we’ll say you haven’t zoomed back out in the past few minutes. Do you still remember that structure and flow of the market? Good.
Given the following chart…would you take this trade? No cheating…look at JUST this chart…make your decision — no predicting! no over-analyzing, no hesitating — QUICK — what are you going to do?
Did you pay attention to everything I’ve shown you in the Trade #1 above (the one I actually took)? What about from the other numerous trading examples I’ve posted on this blog?
What was your decision? Why?
Okay…now I’m going to show you the power you can have with the Logical Forex Phase. You DO realize this is all covered in the Quick Start Online Training Videos, right? The Quick Start Videos are included free with your trial. And, you know that I cover all of this in an entirely more intense and deep way in the Online Private Forex Workshop, right?
So…what was your decision again? Did you enter? Did you stay out?
If you decided to enter…do you want to change your mind now?
If you decided NOT to enter…is this little “hint” something you considered?
Wanna see what happened?
Surprised? Well…there is no reason to be! The Logical Forex Indicators will give you the best possible way for you to identify high probability trades…and know when to enter, when to stay out…and you can do it without predicting, without over-analyzing, and without hesitating!
Are you willing to break out of your old way of thinkng that hasn’t been all that successful (most likely)? Yes, this DOES take a bit of work and time to adjust to a new way of thinking about the MARKET. If you’ll just go back to THINKING LOGICALLY — the way you NATURALLY think(!) — then forex scalping can be fun again…and give you those consistent profits you seek. But…are you willing to REALLY do this? Are you REALLY determined? I know some of you are. And, you know who you are, too. And for your determined and dedicated efforts, I truly respect you….and will do everything I can to help you become the trader you KNOW you can be.