Forex Currency Day Trader

Pip Monster Update

“Pipmonster” is alive and well. My semi-automatic trading strategy has found a  new home…  MetaTrader 4.   As much as I like ActFx, the constant bugs, memory hogging, and crashes just made it practically impossible to trade.  Not to mention that the broker I was with, Forexyard was an absolute nightmare and I had nothing but problems… but that’s all in the past.

Over the last few weeks I’ve written countless indicators and expert advisers (ea’s) and I’m happy to say I’m really loving MT4.  Great platform, and it’s stable!   I can do 10 times as much and use 1/4th of the memory.   The indicators and support forums alone are worth it, but I gotta say I really like the flexibility of the MetaEditor and the available programming platform.

Are you ready to go live?

You’ve been ‘pipping’ in your basement, on a demo account, and you’re getting a little restless… and you want to use your live account.

Here is a quick check-list to see if you’re ready to go live:

• How many trades have you taken in total?
• How many positive trades?
• How many negative trades?
• How many positive pips?
• How many negative pips?
• How many percent are you up this month?

The long and short of it is that you should have more positive trades than negative trades. And more positive pips than negative pips.  Consistently.  Over a one month period.   A good target is 10% per month.

Are you good at trading?

Be honest…  Are you making lots of great profitable trades?  Consistently?  …whilst minimizing your losses?

Here are some tips for new and seasoned traders alike:

• Develop a Trading Plan …AND follow it!
• Have a System – Take the guesswork out of your trades.  …AND follow it!
• Keep a Journal – at a minimum record pips gained/lost, reason for entry/loss.  …AND Review it!
• Education, Education, Education.  If you think Education is expensive, try going without it.

Tags: education, trading course, Trading Journal, trading system

New Forex Tools for Traders

Forex Tools for New Traders

Tags: forex tools

Automated Trading System Update

The last few months I have worked on a semi-automatic trading system, aka Forex Signals, that Alert me whenever there is a potential trading opportunity.  Simply because none of the signals out there really worked for me and I like to tweak my criteria. So far they’ve been running great and I’ve taken it a step further and automated entries and stops.

For the last few weeks I’ve been tweaking, writing, rewriting, analyzing, testing, tweaking some more, banging my head against the wall, and learning more than ever.  I’m happy to say that the last couple weeks I’ve had some really successful automated trading strategies run on several currencies. AND I’ve taken that a step further and expanded my automatic system to 9 currency pairs.

Tags: Automated Forex Trading, Automated Trading System, Forex Alerts, Forex Robots, Forex Signals, PIP

Free Forex Alerts

Great News,  I’ve been developing Forex Alerts for the Major Currency Pairs and you can now sign up to my alerts for free!   These alerts are meant to identify potential trading opportunities, so you don’t have to be glued to your computer all day.   You could say these alerts are great for “semi-automated trading”.

Why develop these alerts? I have been very disappointed with all the different Forex Alerts and Forex Signals, they just don’t work most of the time and I didn’t find any meaningful trade opportunities were identified.  So I started working my own system, and found it was very consistent, but found that checking for my alerts manually was a little time consuming, so I created automated alert messages based on my proprietary criteria, and instead now I get my Forex Alerts via email.

Tags: Forex Alerts, Forex Signals

11 Rules of Trading

1. Have a Game Plan
2. Follow Your Game Plan
3. Set Stop Losses
4. Reduce Risk – at most 5% of your portfolio
5. Capture Big Moves
6. Trade with the Trend
7. Don’t Listen to the News – Listen to the Market
8. Don’t Listen to your Broker – Make Your Own Trades
9.  Keep your Emotions in Check
10. Don’t get Greedy
11. DISCIPLINE – Follow all of the above

Tags: Trading Rules

External USB VGA Adapter Arrived Today

Now I’ve got 4 monitors and my laptop display. Making it 5 displays in total.  It took a while to get the 5th one working but it’s all worth it in the end.

Tags: Multiple Monitor

171 Pips in 30 Days

It’s spring cleaning time and that goes for my Forex Trading Stats as well.   Time to clean up my strategies and systems and focus on the year ahead.    Now that the Vancouver 2010 Olympics are wrapped up it’s time to focus on putting my trading on steroids.

February was a slow month for me… I slept through some good trading opportunities, my computer crashed a few times, and my strategies needed some tweaking.  No more excuses, time to kick-ass and get pipping!

Tags: forex indicator, Forex Statistics, Forex Strategy, Spring CLeaning

Valentine’s Day Promotion

Fall-In-Love with Your Finances Again and join me this Valentine’s Week for my Day Trading Webinar.

Don’t delay… my last webinar will be Valentine’s Day, Sunday February 14th.

Webinar Registration

To register for an event, click the event time and you will be redirected to the Webex Registration Form and after signup you will receive a confirmation email from Webex.  If you do not, check your junk mail folder and register again if need be.

You will need: A computer with an internet connection and either speakers to listen on the web or a telephone to dial in with, long distance charges my apply.