SignalTrader Trading System Video Thursday

Latest update now uses RSI for congestion.

Daily Trading Video demonstrating new congestion detection.

Trading Video 30th December 2013 – Trade Setups

Good morning Traders! Trading Video for this morning

Don’t forget the SilverTrader special introductory offer finishes on Wednesday 1st January! Then your $75 USD lifetime membership is going to $750 USD or  a monthly $50 USD membership.

I also have some exciting news about a WEB BASED version of Metatrader I will be launching on the 1st of January as well.

Live SilverTrader trading demo

More Information.

Trading Update

GBPNZD closed in profit all other orders cancelled on entry of GBPNZD sell.

A Merry Christmas!

Good morning Traders. I have had a really harsh night! I live on a boat and it came loose from it’s moorings at 2am due to the high winds so no trading video today sorry.

Have a lovely Christmas everyone don’t forget SilverTrader is a special price of $75 USD till Jan 1st.

Here’s a Christmassy Trade,

Santa will be leaving at 1.4550 or thereabouts and heading up to 1.45195 where he will be dropping off presents made by all the elves. You can see the smoke from his sleigh in a magical diamond below it.

Am I a rock star? Gold and a way of copying other traders with BelforFX.

I have been examining Gold and have noticed some very interesting patterns. We are nearing a very important level. Let me show you why.

Here is the monthly Gold chart.


As you can see it is in a massive hook on a monthly basis… at these levels we could be looking for another move up heading even higher over the long term. With China holding large amounts of Gold and India’s Gold shortage emerging markets are fuel to a fire that could go on for a while. But we just need that bullish break. Otherwise we could be headed lower, I would like to see the break pushed bullish by fundamental news on Gold NOT negative USD news.

Why expect a rally here? Because at this time the market can’t really decide what to do. But we need to wait this trade out. When it goes, it could go big, either way.

Belfor FX

On another topic, I was contacted by a broker yesterday “Belfor FX” you can see their banners on the site, now I’m not the sort of chap who changes broker easily, it’s a bit of a pain, all that paperwork. But for beginners (not that 6 years trading makes me a beginner!). There are some real advantages to their platform including the copy trader facility which allows beginners to copy other traders trades. Ideal if you are a new trader and want to watch what other traders are doing, social trading is in fact, in my view the future.

In the future we could see moves in the market kicked by social trading rather than by the market makers. Mind you I think we are a long way off.

They run the usual MT4 platform and web based trading and they give very good service.

So I would encourage everyone to try out an account. Incidentally it is not a good idea to hold your forex holdings in one trading account. Different brokers have different features and it takes some time to find one you really like.

Got any questions? Please leave them below. If you would like to take a look at Belfor FX click on one of the banners.

Gold…EUR.. is it recovery day.

Well thanks to the FEDS we had that massive drop in GOLD/EUR etc last week. I’m seeing signs on both charts that this could be recovery day and we could get back on track with a bullish rally.

Positive EUR data already this morning and virtually NO USD data mean this is a good day for buying EUR/GBP/GOLD against USD. But will we be able to rally enough to recapture last weeks bearish move and to turn things again.

Time will tell, I still feel the FEDS have simply kicked the problems down the road a bit, until February next year when the whole uncertainty of the USD debt ceiling yet again kicks in.

Eventually, USD will not be worth the paper it’s printed on, simply because they are in so much debt.

It’s Taper day, so what is priced in.

Yesterday the dollar rallied against GOLD/EUR/ETC. (However I am still well in profit on my lots Gold Greenback buy).

I did watch a lot of traders saying it was  a trend change, however my opinion is that the market has priced in a hold back of the FED taper to December next year, even though the chances of that are only 10%. This means that if they hold the taper back till, say, March, the dollar will drop, and fast.

We have a LOT of US news today as well, so it’s not a day of trading for the faint hearted. I am planning to evaluate my GOLD vs Dollar buys today and be possibly completely flat before 18:00 GMT (this means out of any trades), At 18:00 when the news comes out the dollar may whipsaw very very fast. Plus the fed tapering news, if you have a heart condition today may be a bad day to trade!

Happy trading everyone.

Gold still going up. In since 1270 with 4 lots.

The Average True Range of gold moment has significantly dropped,  like it’s waiting for something. But that is Monday’s for you.

We have consumer confidence from the US at 14:00GMT today, which may provide some momentum for a move, meanwhile I am still looking for targets of 1410 and perhaps all the way up to as high as 1800! As all my trades are on moving stops they are in profit so if it goes against me I will only lose a fraction of the profit from these trades.

My feelings…. Gold and Balloons have a lot in common at the moment. Up, Up and away.

There is still a gold shortage in India and since China is hoarding Gold and the US debacle over the debt ceiling (which will rear its ugly head again early next year), we should see further Gold advances as the world becomes less and less enamoured with the green back.

Incidentally I have been mildly amused by the chat going on on trading view with regards to Gold. Comments like “Well I’m short Gold now”, like watching one of those TV shows where you know the answer to the question but the person competing doesn’t, “NOOO don’t short Gold”.

(Well some people only want to make 5 to 8 pips, I’m in 82 pips profit on just one of the 4 trades. Today, well they are pushing up against 1361/1360 area, bottoms in at 1349, 1350 of a trend line so if I may add another lot here… we shall see, put it like this, I can’t make a loss now, it’s impossible even if the trade goes against me.

Anyone fancy shorting Gold? Well.. . you won’t believe it but there are people out there doing it!



Non Farm Payrolls day…watch out!

Today is an historic day for Non Farm Payrolls, normally the madness happens on a Friday, so the effects are short term, today we get NFP on a Tuesday, this means the effects could last all week. Also, the fact that the dollar has been weaker against other currencies. BAD NFP figures could further fuel the fire of the USA not tapering its bond buying plan that would cause a drop in the dollar. It could further fuel the buying of Gold/Silver and other non-fiat currencies.

Of course yesterday’s trading was incredibly slow and tedious due to the waiting for these results.

So here is the key data for today

TIME (GMT) Description Strength   Est. Prev.    
13:30 US USD Nonfarm Payrolls (Sep) 3   180K 169K    
13:30 US USD Average Hourly Earnings (MoM) (Sep) 2 0.2% 0.2%
13:30 US USD Average Hourly Earnings (YoY) (Sep) 2 2.1% 2.2%
13:30 US USD Average Weekly Hours (Sep) 1 34.5 34.5
13:30 US USD Unemployment Rate (Sep) 3   7.3% 7.3%

My guess 171000.

I can’t find the normal thing Bloomberg do with the experts predictions. But let’s just say it could either go mad or do virtually nothing. Just depends on the results.

Have a great day everyone.

China, the hoarder next door and the new reserve currency, Gold.

Well after Gold’s rally against the dollar yesterday I thought I might explain why I’m buying gold.

After the USA’s embarrassing fiasco with the debt ceiling, I started looking into other currencies to trade, and found out some very interesting information about emerging nations such as China and India, Ben Bernanke said that Gold was not money. The Indians and Chinese think differently, the Chinese at the moment are wisely (in my opinion) looking to back their currency with Gold. The Indians are buying oil with Gold. The move for a new world reserve currency not particular to any country is in play.

The result.

Gold hoarding.

The result.

A shortage of Gold

The result. (stop me if you’re bored)

Gold rockets in value against every other currency particularly the USD which will, as it is no longer the reserve currency find itself floored.

Gold sits at 1320, I entered at 1250. I am holding for another rally or two and moving my stop up to follow it 3000 pips behind.

Obama: Good Chance of Default

Discussing with my friends most people think that the US will not default, it’s almost like they cannot believe it will happen. “It’s too big”.

The bigger they are, the hard they fall. My opinion, they will default, the dollar will drop in value and we will begin a new era.

I could be wrong though. I hope for the sake of the US I am but I cannot see how they will get out of the debt. You cannot continually get more and more debt, eventually the financial system will collapse.

Could it be that the Universal reserve currency will return to gold. India have already been paying for oil with Gold. The banks are now planning for the default. So am I.

To me buying Gold is the right thing to do at this stage against USD, although it has been bouncing up and down, Gold could recover back to highs from before the huge drop if the dollar fails.

I cannot believe the dovish attitude of people. If they have not gotten a deal yet, why will the get it now. I think the republicans want the default so that they can impeach Obama. The damage to the democrats, along with the dollar would be huge.

Note that those who have USD bonds may have insurance against losing the bonds in the event of a default, they may try to push for a default if the insurance payout would be greater than the return on the bond payments.