Thursday, November 15, 2012

Monthly Trading Signals (November 2012)

“…What got you in and got you out for a small loss may actually get you back in for a bigger win a little later.” – Sam Evans


Currency markets have times of significant bearish plunges and bullish shoots. But no matter what happens, I’d keep on trading for annual profits. To win a trading game is good. To play the markets is better. But to love trading is the best of all. The crosses analyzed aren’t the only instruments traded with the type of analysis used. Below you’d find some pairs and crosses on which I opened positions on a monthly basis. Personally, this is what I do, not what’s recommended that others should do. Below are just 10 of my open trades. The maximum duration for each trade is one month, and we should note that the orders have been running before this article was written.


1. Instrument: USDCHF

Order: Buy

Entry date: November 2, 2012

Entry price: 0.9406

Stop loss: 0.9206

Take profit: 1.0006

Status: Open

Profit/loss: 78 pips


2. Instrument: GBPUSD

Order: Sell

Entry date: November 5, 2012

Entry price: 1.5968

Stop loss: 1.6168

Take profit: 1.5368

Status: Open

Profit/loss: 69 pips


3. Instrument: EURUSD

Order: Sell

Entry date: November 5, 2012

Entry price: 1.2788

Stop loss: 1.2988

Take profit: 1.2288

Status: Open

Profit/loss: 73 pips


4. Instrument: USDCAD

Order: Buy

Entry date: November 5, 2012

Entry price: 0.9970

Stop loss: 0.9770

Take profit: 1.0570

Status: Open

Profit/loss: 45 pips


5. Instrument: GBPAUD

Order: Sell

Entry date: November 5, 2012

Entry price: 1.5406

Stop loss: 1.5606

Take profit: 1.4806

Status: Open

Profit/loss: 96 pips


6. Instrument: EURJPY

Order: Sell

Entry date: November 5, 2012

Entry price: 102.63

Stop loss: 104.63

Take profit: 98.93

Status: Open

Profit/loss: 155 pips


7. Instrument: AUDCAD

Order: Buy

Entry date: November 5, 2012

Entry price: 1.0339

Stop loss: 1.0139

Take profit: 1.0939

Status: Open

Profit/loss: 68 pips


8. Instrument: EURAUD

Order: Sell

Entry date: November 5, 2012

Entry price: 1.2337

Stop loss: 1.2537

Take profit: 1.1737

Status: Open

Profit/loss: 90 pips


9. Instrument: AUDCHF

Order: Buy

Entry date: November 5, 2012

Entry price: 0.9782

Stop loss: 0.9582

Take profit: 1.0382

Status: Open

Profit/loss: 67 pips


10. Instrument: USDJPY

Order: Buy

Entry date: November 5, 2012

Entry price: 80.28

Stop loss: 78.28

Take profit: 86.28

Status: Open

Profit/loss: -80 pips


The position sizing is 0.01 lots for each $2000 (thus making it 0.05 lots for each $10000). When an order goes positive by 70 pips, I move the stop to breakeven. From 200-pip profit upwards, I use 50% trailing stop.


Conclusion: Many advantages that are present in Forex but absent in other types of the financial markets have made Forex endearing to people as a field of activity. Follow your trading criteria – but only winning criteria. There are winning criteria and losing criteria in trading. The criteria are yours. If they’re useful, stick to them. If not, abandon them and find winning trading principles.

This article is concluded with quotes from Jim Wyckoff:


  1. “I have been in this business nearly 20 years. I have read stacks of trading books and have voraciously studied markets and market behavior. I have worked right on the trading floors of all the major futures exchanges. As a journalist, I have conducted countless interviews with the very best traders and analysts in the world. But I still cannot specifically predict what a given market will do in the future.”


  1. “It's very important to realize the fact that neither I nor anyone else--not even the most powerful computer trading systems--can predict what the markets will do in the future. Markets will never be tamed. I've said many times that my profession is not a business of market predictions, but one of exploring market probabilities, based upon fundamental and technical analysis--and human behavior. By exploring and understanding market probabilities, and human nature, one can achieve trading success.”


Your questions and opinions are highly welcome.


Thank you.


With best regards,


Azeez Mustapha


Forex Signals Strategist, Funds Manager &Coach


If you want to receive permanently free winning Forex trading signals, please send me an email titled: “A Request for Free Trading Signals.”


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NB: Trading has become a calling!

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