Live Trading Room – Recap

This post is a quick summary of what went on in LTR yesterday. We had few potential trades but were not triggered in time for us take advantage of them. The theme for market is usual sideways this week and it has been one of the tough weeks to call trades. Having said that there were still couple of good trades later in the night. While I was napping away two trades took place which I am posting here.

Even though this is looking back in time now and not the most ideal way to post, however I would rather mention it than let it go. At least this will give you an idea of what sort of setups to look for and may help in your future trading. Once we start regular service you will know all necessary details to trade on your own.

( Click On Image To Enlarge )

Notice the consolidation after the move down, which formed a channel. Though it may seem like a usual break out trade, however trading all setups which looks like this is not as effective as you may think. We need to be careful in selecting the setups which have higher probability of success. That comes from reading price action embedded in candles and lower timeframe charts.

This setup is same as the GBPUSD trade we took on the first day. As you can see that we didn’t use any indicators, we only need to wait for right setup to take place. Sometime we won’t be on our desk to take advantage of them, but that’s just life.

I hope this post gives you an idea of my style of trading and what to expect after the trial is over.

For those who didn’t receive LTR log in info in time, please note that we sent out details to everyone before the launch. Our email could have ended up in your Spam/junk folder. I understand that you may not have access to full 2 weeks trial, however we still need to move on to regular membership by the end of next week. This way everyone will be in sync and would be easier for everyone. I hope you understand.

Chat in Live Trading Room is now taking great shape, most of the basic questions ( and annoying competitors ) are out of the way and room looks moreĀ  like a proper trading room with serious traders. This trial is also helping me to adjust to new my lifestyle and to be honest it is a lot more work than I expected, but I am mentally prepared for the challenge and looking forward to working with you all.

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6 Responses to “Live Trading Room – Recap”

  1. richard monghan 20 August 2010 at 4:32 pm #

    good post FP :)

  2. Tade 20 August 2010 at 4:53 pm #

    This is nice from you FP.

  3. harrymonkey 20 August 2010 at 6:08 pm #

    Nice one FP, keep up the good work.

  4. Scott McBryde 20 August 2010 at 7:49 pm #

    I agree with Richard. Don't burn yourself out FP, we need ya!

  5. fxgeorges 21 October 2010 at 12:42 pm #

    thanks for sharing useful information about FP.

  6. Simon 11 July 2011 at 2:30 am #

    Admiring the time and effort you put into your blog and in depth information you provide. It’s good to come across a blog every once in a while that isn’t the same out of date rehashed information. Great read! I’ve bookmarked your site and I’m adding your RSS feeds to my Google account.


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