Daily Video Analysis Of Major Pairs

[DRFXTRADING12]

Hello all,

My name is Duane Shepherd and I am Currency Trader who trades and teaches persons how to trade using my Swing Trading strategy. This is based on using Candlestick Patterns and Signals on the Daily & 4 Hour Charts that are more stable relative to the lower time frames. I believe that larger gains can be made from this market each month by Swing Trading instead of Day Trading and I will show trades and analysis that highlight the benefits of this approach.

These Videos will show you how to take advantage of profitable movements in the market each week that can provide an average of 150 Pips per trade. As long as you know which trading rule to apply to the trading opportunity presented, you will be able to profit from these trades on a consistent basis every month.


There are 5 Swing Trading Strategies that I use which will be showcased here which you can easily apply to your trading.


1. Trading Within Consolidation using Support and Resistance

2. Trading Within Consolidation using Daily Chart Signals

3. Trading Within Consolidation using 4 Hour Chart Signals

4. Trading Strong Trends/Consolidation Breakouts

5. Trading Slow Trends/Consolidation Breakouts



As Swing Traders using Price Action/Candlestick Signals, a big challenge when Trading within Consolidations is figuring out which time frame to use for entry or if we should simply enter at the S/R areas. There are several Technical Factors that determine which strategy to use but one of them has to do with the size of the Consolidation. For small ones such as in the Video below, volatility at the S&R areas is minimal, making it easier for us to enter there without waiting on the Candlestick Signals. For larger Consolidations, however, Daily and 4 Hour Chart Signals have to be used given the increased volatility/spikes at these areas.


There are some Trends and Consolidation Breakouts that are very fast and are characterized by Strong, Large Candles while others have Small, Slow Candles. These require 2 Types of Trading Strategies to ensure we aren't affected by unexpected pullbacks that lead to losses.


These Trades will also be shown in the Dukascopy Trader Contest to show how they perform under a competitive environment. By targeting an average of 150 Pips per trade twice a week, it is possible for Retail Traders to generate 1200 Pips each month - a very large turnover that can provide strong Short Term and Long-Term Gains for all.


Any questions and comments, fire away.

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102 PIPS GBP CAD - TRADING WITHIN CONSOLIDATION USING SUPPORT AND RESISTANCE

This most recent trade was an example of how to trade using the S & R areas for entry. This was Range Setup that had been formed and was expected to head back down to Support after turning at Resistance. Entry took place just below the Resistance with a target set for 160 Pips. By the end of the holding period that I establish for this trade, however, this target had not been hit and I had to close the trade for a gain of 102 Pips.

As you can see from this next video, the decision to exit there instead of holding the trade any longer for the additional 58 Pips was the right one as the market reversed sharply shortly after.

Establishing and obeying a Holding Period for your trades is crucial to Forex success. This will ensure that you do not become greedy by holding on to your trades for more Pips than the market is going to be giving you.

These and other factors that are important for consistently profitable trading will be shown here. Once you can include them as part as your trading plan, you will avoid the common traps that traders fall into and focus on Long-Term Success.

Duane
DRFXSWINGTRADING

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GBP USD - BEARISH BREAKOUT FROM PENNANT OR BULLISH REVERSAL?


We have a scenario now on the GBP USD where the Support of its Pennant on the Daily Chart is now taking place. Based on the theory of Consolidations, it could either continue Bearish or reverse to take us back inside of the Pennant.

There are certain technical factors and signals that tell us which of these 2 scenarios will take place and once you know what these are, you`ll be able to trade them profitably every time. This helps to avoids situations such as:


1- Jumping into the market at the first sign of a break of the Pennant only to see the market reverse sharply back inside.


2 - Start trading when we see the market showing signs of heading back inside of the Pennant only to see it U-Turn sharply to continue the breakout.


Both cause losses on a regular basis for traders, but they can be minimized once we know what those factors are that predict which situation will be the correct one.

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[DRFXTRADING12]

DO YOU GET NERVOUS WHEN TRADING?

If so, my advice is to ensure you have a Trading Plan Trade Sheet.

I used to be nervous too especially trading smaller time frames. These move very quickly and the minute you enter a trade, there is a possibility to lose very quickly - not a nice feeling. You get a lot of unnecessary tension and nerves. This is one of the many reasons I and others switched to the larger time frames and Swing Trading.

Nevertheless, whatever time frame you use..get a Trade Sheet that has rules and checklists to justify each trade. I found that whenever I traded without this, I would be unsure if I had taken everything into account before clicking that button. This uncertainty creates anxiety and fear.

If you have a Trade Sheet that you know will provide you with a good trade 80-90% of the time, you will be more confident. It gives you a visual confirmation that you are making the right decision and that everything has been accounted for.

This is what I use.

This guides me through all steps involved in the trade - from analysis to closing of the trading platform as well as while the trade is in motion.

If you use something like this during Demo Account phase and the results are good, then just use it on the Live Account and the nerves will fade away and be replaced by celebration of trading wins.

Good luck



Duane
DRFXSWINGTRADING

 

[DRFXTRADING12]

DETERMINING YOUR PIP TARGET PER TRADE


Take a Top - Down Approach.

1. Determine how much Money you need to make from Trading to make it worth it. (ex. $1000 Monthly)


2. Determine how much you are going to invest in a Real Account. ($1000)


3. 1 and 2 will give you your expected Rate of Return per month - 100%


4. Determine if you can/want to trade every day or a few days during the month - Day vs Swing Trading


5. After choosing, determine how many times per month on average yu will trade. (ex. 10 times)


6 . This then gives you the average dollar amount per trade you need to get to that $1000 per month - $100


7 . Then use this $100 along with the risk per trade (ex. 5%) to determine the Risk/Reward Ratio per trade you need.

- If you risk 5% per trade ($50) then you need a strategy that gives you a 2 to 1 Reward Ratio ($100/$50) on average


Naturally, as your account balance increases/decreases, the dollar amount of the gain per trade will change.


This approach takes the uncertainty out of how many Pips to get per trade since you now know the bigger picture. The challenge is then to determine which trading strategy can get you this consistently.



Duane
DRFXSWINGTRADING