Posts Tagged ‘magnet lines’

Forex Scalping Before Work Begins

Thursday, June 28th, 2012

Well, it sure has been a while since I last posted. There have been a lot of things going on in my part of the world. Fortunately, things are settling down somewhat – which gives me some time to post.

I have a lot going on today, and little time to trade. But, I opened my charts before I had to hunker down on some work and saw something worth looking further into.

Take a look…

 

*** EURJPY Market Structure ***

Range

EURJPY MARKET STRUCTURE

 

Price had experienced a rather large move down. More recently, it was trading in a range, edging up very slowly over the last several hours. It had been spending quite a bit of time around the Blue Magnet Lines.

 

*** EURJPY Scalp Enter ***

Magnet Line Dance, Momentum, Breakout

EURJPY SCALP ENTER

 

Price was once again interacting with a Blue Magnet Line.

Let’s take a look at the Indicators…

  • Logical Forex Activity Lines – Starting to widen, as it gets closer to the U.S. open.
  • Logical Forex News Alert – None showing.
  • Logical Forex Flow Lines – Price is coming out of somewhat of a trading range. Most recently, you can see all the stacking yellow – showing Price consolidation. Then, the Flow Lines start to fan out. The Spine is almost fully revealed.
  • Logical Forex Phase –Tracking along nicely with Price.
  • Logical Forex Bias – Pointing up.
  • Logical Forex Magnet Lines – As you can see, Price is dancing with the Magnet Line. There is a very nice dance right on the Magnet Line (my favorite) and then Price accelerates through.
  • Logical Forex Watchdog– It is barking yellow just prior to the trade opportunity. Notice it is solid bright yellow at the time I will pull the trigger.

Time to enter a BUY trade just as Price starts its acceleration through the Magnet Line.

 

*** EURJPY Scalp Exit ***

Acceleration, pull back

EURJPY SCALP EXIT

 

Price climbs steadily, only hesitating briefly shortly after I enter. I choose to ride that out. At the time that Price actually pulls back, I exit with some nice profits. Some braver folks might have held on until Price crossed the Groove at 98.90, but that is definitely more aggressive trading. I choose to be happy with my pips collected and can move on with my day.

***

If you haven’t tried Logical Forex yet, what are you waiting for?

Happy Trading!

-Scott

 

Price Action + Magnet Lines + Patterns = Profits

Monday, June 11th, 2012

Hello!

It’s been a while… Scott has been doing most of the blog postings the past several months. He is really an incredible trader and has a special ability in communicating clearly. His posts are a joy to read. I also get joy from knowing that he, and many others, are continually benefiting from Logical Forex. That was my goal, long ago, when I made Logical Forex available to the public. I am constantly amazed at the success people have reported to me that they have achieved with Logical Forex… and they all have the same basic traits, and they all pretty much went through the same paths to become great Logical Forex traders. You can do the same thing.

We go into a lot of depth in the Quick Start videos and the other training materials on exactly how to trade Logical Forex: what to look for (patterns), how price action works (Flow Lines) and where decisions are being made by Big Money Traders (Magnet Lines). These are the primary things you need to be a consistently profitable Logical Forex Scalper and Trader. (Yes, you can make regular scalping trades, or hold longer for more of a “regular trading” approach, and we get into each of these approaches in our training.)

I’ve made a video for you that will show you how, on this particular day, just about every interaction of Price with a Logical Forex Magnet Line, was a reasonable trade. I also show you those cases where “things just don’t look right”… and we need to skip the trade.

This video is a light taste of what you get in our training materials. With the standard Logical Forex Indicators and training materials, you can be very successful. And, with the Logical Forex Premium videos, even more so. We have everything setup for you so that, no matter how serious you are about becoming a professional trader, we can help you. You can start at a level you are comfortable with, and continue moving forward with additional things that will make your trade selections even better… things like Market Cycles and Market Structure, which we cover in the Premium Videos. Again, you can trade very well from the standard training materials. Your success depends entirely on your commitment to yourself… and we’re here to help you become the trader you know you can be, and deserve.

This video runs about 20 minutes. I cover every Price interaction with a Magnet line during the European Session and the New York Session. There were a few trades I passed on, and one that didn’t work out (which I would not have normally traded, but others might) – and the rest of the examples were good for 3-10 pips or so. I’ll let you discover (when you view the video) how many of those trades happened, how the patterns looked, and what I used as “go” and “no-go” criteria. ;-)

Just imagine how much more is available in our training materials… and then, even better, imagine how when you apply what we share with you, how with some practice and commitment, you can make your scalping and trading life a lot of fun!

Please note: click the video to play it, and then click the [] in the right hand corner of the video to enlarge it.

 

 

See you again soon!

-Greg

 

Another Day – Another Forex Scalp

Sunday, April 22nd, 2012

Friday was another day of forex scalping with the Logical Forex Trading System. As I point out to many of our existing clients, the similarity with many of the trades we take is quite uncanny. If you are new to trading with Logical Forex, I do suggest that you go through ALL of the blog posts. You will pick up countless nuggets in terms of the types of trades we take, the times of day (fyi – the times you see on the charts are Eastern Time in the U.S.) and also in how we evaluate the Indicators.

 

*** EURUSD Market Structure ***

Symmetry

EURUSD MARKET STRUCTURE

 

Market Structure showed quite a bit of northward movement, but yet you can also see the various retracements that occurred throughout. When we talk about flow and symmetry, this is what we are talking about.

 

*** EURUSD Scalp Enter ***

Dance, Velocity

EURUSD SCALP ENTER

 

Ok, I’ve zoomed in to take a closer look. By the way, I zoom in and out by using the CTRL+ Arrow Up and Arrow Down buttons on my keyboard.

What do the Indicators tell us?

  • Logical Forex Activity Lines – Still a bit smaller than I prefer, but we are well into the NY session. I expect liquidity to open up any moment now.
  • Logical Forex News Alert – None showing.
  • Logical Forex Flow Lines – Price is not flowing in the ideal way. Notice its’ choppiness? None of the swings are such that I would be taking too much risk. If I were to enter a trade, I’d likely trade somewhat smaller lot sizes than normal.
  • Logical Forex Phase – Showing some divergence earlier, but more recently it is tracking along nicely with Price.
  • Logical Forex Bias – Mostly flat here, but not conflicting with the intended direction of a BUY trade.
  • Logical Forex Magnet Lines – Price was approaching a Magnet Line. Notice the tight Dance and then how it was then immediately repelled? Would it come up through with momentum? Let’s find out.
  • Logical Forex Watchdog– It is barking yellow just prior to trade opportunity.

As price takes another go of the Magnet Line, it is clear from watching the Broker Quote Panel that something (or somebody) is taking Price further north. I enter with a BUY trade.

 

*** EURUSD Scalp Exit ***

Pull Back

EURUSD SCALP EXIT

 

Notice how Price did a slight pullback to the Magnet Line? As you will see in reviewing other blog posts, sometimes Price dances both before AND after the Magnet Line. If Price had pulled back beyond the Magnet Line, I would have immediately exited the trade.

In this case, Price started its’ steady upwards climb shortly after the slight pullback. As Price slowed down and then pulled back again, it was time for me to exit with some safe profits.