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Currency Traders day trading futures that are specially short-term trading (not be mistaken with intra-day swing trading) must remember not to change their short-term objectives or risk parameters into longer time frames. It’s my experience that short-term traders do this when they get caught...

Day trading futures requires traders not only to be cognizant of highs and lows, but of volume also. The idea of volume for me is to understand where traders are actually buying and selling markets. For example let’s take a look at the March 2010 Euro Currency Futures contract (below)...

An Incredible day for traders day trading futures, specifically Euro Currency Futures. This market rallied over 150 ticks in less then 1 hour and in one five minute bar had a range of 55 ticks. This is a great example of why short-term traders should utilize stops when day trading futures...

The Canadian Dollar tests the top side of a downward trendline late last night and then falls over .0100 ticks. The CD 5-minute chart shows the quick move up and then the steady march downwards. You will also notice that the area of concentrated volume has widen some. This area of concentrated...

The Canadian Dollar pierces the 13-week moving average (.9113) Sunday night, before reversing in the late morning. The CD 5-minute chart shows consolidation between .9094 and 9130 for several hours. This is the area where from which I launched three simulated trades. These simulated long...

Looking back at the The Euro Currency Technical Outlook for Friday September 18, 2009. My intention here is to offer non system traders a perspective on one part of the trading process, which is in the preparation. Before ever placing a trade I like to create potential trading ideas from...

The Euro Currency looked as thought it was trading in an intra-day sideways channel after installing the new weekly high at 1.4773. The EC 5-minute recap chart (below) clearly illustrates the whip sawing of today's action. The question that comes to mind tonight is will we see the Euro Currency...

Another exciting day in currency futures market, which are the most aggressive and exciting markets a trader can participate in. Both the Canadian Dollar and Euro Currency install new weekly highs, while the Japanese Yen sells-off and installs a double bottom low. So, let’s take a quick and...

In an article I wrote yesterday, I wrote about the importance of thinking ahead and trying to anticipate where the market might be or how it might look technically at some point in the future. To reiterate why I think this is important is because as a trader, it is my technical opinion that you...

What an interesting technical day in the currency futures market. The Canadian Dollar opens Sunday night and then proceeds to tumble, but by the early morning the bulls had recovered most of the early losses. The Euro Currency again made a new cycle high (1.4652), but is this market beginning to...

When you step into the currency futures market are you executing from an offensive plan of attack or are you trading based on the current price action? Think of you yourself as a combat soldier for a moment. Are you entering the battle zone with an idea of where the enemy is and how you might...

This has been an exciting week in the currency futures market. I would also like to point out that I have changed from the September 2009 currency futures contract to the December 2009 currency futures contracts. In today’s action we saw both the Euro Currency and Japanese Yen install new...

So, are you saying when you make a killing your not happy...or when you didn't follow your rules you're not upset....I hear people often say they are not emotional when they trade or you shouldn't be emotional when you trade ....I don't understand that.... I mean when you take a position are...

Even though today was a holiday in U.S. the currency markets did trade Sunday night and Monday morning in the Globex. The currency markets were traded with very low speculative volume today, with the Canadian Dollar making the only significant move today. The daily chart of the September 2009...

Trading Your Way to Financial Freedom is a good book to read and offers some good insight into the mental process of trading..... Taking time off and reading is a good idea......I saw someone mention the time off.. RAE

This article is meant for speculators not hedgers, which I think most people on this site are...but never the less your point is valid if we are talking about hedgers or global businesses..but I wasn't....the comment was appreciated....I think....j/k..

I find that having someone to talk to and share the ups and downs of trading is a great idea. Because unless you're around other traders, like in Chicago or New York, trading can get pretty lonely and mistakes can seem bigger then they really are and then that can start us down a slippery path...

Before a currency trader places an order to enter the market, where did that currency trader get their trading idea? Was it from chart analysis, news, statistical analysis or a gut feel? And once a currency trader enters the market how does that currency trader assess the data on whether to...