Day Trading and Forex in 2010

Firstly, Hello to all regular readers and welcome all new readers. Wishing you an abundant and peaceful 2010 and may this be the year that all your dreams come true.

The market has been pretty slow in the first few days, the true ranges have been low and generally not seeing any urgency either way, bulls or bears. The USD has strengthened somewhat in the first few days and it may just be that Risk Aversion associated with buying the Japanese yen is subsiding. Personally I cannot see the reason for buying Yen against anything at the moment and wonder where this idea came from. When interest rates where high in the West and selling Yen was considered a good little earner (carry trade) the Yen dropped considerably and is probably still correcting as all rates are low. (Excpet for Aus and NZ). Anyway, I believe that the Yen will return to mean over the next few months, news out of Japan is still not great.

The GBP kicked off it’s lows and rose to 1.6239 on the last day of 2009, since then it has dropped to 1.5887 and rising again today. The political uncertainty in the UK and Labour government un popularity contributing to erratic trading.

The Euro is also in a medium term downtrend and with the Greek situation and unemployment hitting the dreaded 10% today we may see further downside here.

However, all said, I have little interest in the longer term as a day trader. 2009 has been an excellent year for me and many of my subscribers (it’s free, just enter email in the box on the right).

My trading profits for 2009 can be divided into 4 methods, the last method is one I’ve only been using for a couple of months but considering it cost me $97 and made me over $20,000 I’m happy with it.  The trading methods I use are listed below:

1. Software driven news trading – around 20% of annual profit using ‘Fast Economic News’
2. Dax and Euro Scalping – around 45% of annual profits – this is my own method and you can search this blog for details.
3. Pivot point trading – around 35% of annual profits – again using my own method – details in the blog posts.
4. Forex rebellion Forex trading system – only been using this for 2 months but have been making consistent profits with it. Haven’t included in 2009 figures yet.

I have decided to produce a PDF with a detailed explanation of my methods and systems. I have started working on it and will be ready in the near future. The PDF will be free as I make my money trading and not teaching others how to do it. If you’d like to receive it opt in to my mailing list and you will be notified.

Once again, thanks for your loyalty and thanks for clicking thru to some of the sites and ads on this site, this helps keep the costs down and cover expenses.

Remember – Trading is all in the mind, get the mindset right and the money will come.

I have set up a new blog about meditation with some free binaural beats for you to enjoy. Meditation for Manifesting.

Cheers,

Mark

PS You can talk to me on Yahoo Messenger Free Yahoo messenger Download

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