If you have ever tried scalping then you know how difficult it can be. It is also the most stressful way to trade in my opinion. However, if you know what you are doing it can be plain exhilarating and very profitable.

There is also an upside though and one of the benefits is that you can be in and out in minutes and not have to sit around for hours.

You also don’t have to worry about missing out on set ups either. With long term strategies if you miss a set up it might be days before you get another. With scalping and in particular, with James’s methodologies, you will have countless opportunities to enter on any given day.

The biggest problem I see though is experience. It takes a real knack to know what to do, and this doesn’t come easily.

In fact most traders are wiped out mentally before they are able to acquire even the most basic of learning curves.

A decent scalper has often spent years honing their skills, and more- often it has cost them dearly in terms of money lost, time lost, and no doubt in the process, they have shortened their lives considerably from the relentless stress involved with scalping.

This is where you get real lucky…

James is a seasoned scalper and he is going to teach you everything he knows on this subject!

He will give you all his inside secrets that he has taken literally years to accumulate so you don’t have to go down the overwhelming road of trial and error yourself!

Check out exactly what he has to offer you here…

Scalping Video & Live Course

EUR/USD

Update: We dipped just below the weekly reversal level yesterday and formed a new hourly/daily “spike low” For this reason, I have adjusted the weekly reversal level to 1.2150, after having bought the euro at 1.2180 yesterday (see the G7 alert email sent at 3.07 pm GMT yesterday) The only remaining strategy now is to hold this trade for a target of roughly 1.2380, or lower if we run out of gas. I’ll alert by email!

Summary:
Hold longs from 1.2180, target 1.2380.

GBP/USD
Update: Little change from yesterday, apart from a small foray to 1.5130. The strategy remains unchanged from above. Note the potential “head and shoulders” pattern on the hourly chart. Aggressive traders might try small shorts from 1.5060/80, stops above 1.5110, for a target of 1.4920/50, where we’ll look for opportunities to buy next week.

Summary:
Buy dips to supports listed above after a clear entry signal. Target 1.5000 and then perhaps 1.5500. Aggressive traders might try small shorts as described above.

EUR/USD
Weekly Trend direction: Bullish
Weekly trend reversal level: 1.2200
Key G7 support levels: 1.2320, 1.2300. 1.2280, 1.2250
Counter-trend and scalping opportunities: 1.2427
Strategy: Whilst above the weekly trend reversal level buy dips to support levels after an entry signal.

Today’s trade suggestion:
What a fantastic opportunity last week to buy the euro and the pound! This week the trend looks set to continue higher, as long as we remain above the weekly reversal level at 1.2200. We’re looking to buy into dips to supports at the levels listed above, with the 1.2300/2320 levels being key. Watch and wait for a clear G7 reversal signal, before buying Target for long positions is 1.2420 and then the key 1.2480 level. Scalpers and counter-trend traders will be eyeing the 0.786% Fibonacci at 1.2427 for possible selling opportunities, however, as the bullish trend is gathering momentum, I suggest being very careful with counter-trend trades unless a genuine scalping opportunity arises. (Refer to my scalping videos and the upcoming course for the three setup types)

Summary:
Buy dips to supports after a clear G7 signal. Possibly try counter-trend shorts at 1.2427 after a decent G7 entry
signal.
GBP/USD
Weekly Trend direction: Bullish
Weekly trend reversal level: 1.4700
Key G7 support levels: 1.5000, 1.4935, 1.4860, 1.4750
Counter-trend opportunities:

Strategy: Whilst above the weekly trend reversal level buy dips to support levels after an entry signal

Today’s trade suggestion:
The pound is traveling higher in a well-formed channel, with multiple layers of support below. The neat pattern makes is tough to pinpoint the precise support levels, but the important areas are listed above. The key is to not get too bent on determining precise support levels, but to find the zones or areas where the pound is likely to find a platform. Then watch closely for a clear g7 entry signal to buy. Now that we have broken through daily and weekly resistance, the pound should try to head for 1.5500 – possibly this week. Scalpers and counter-trend traders can look for short trades from the channel top. Otherwise be patient and wait for dips to support before buying.

Summary:
Buy dips to supports listed above after a clear entry signal. Target 1.5000 and then perhaps 1.5500.

EUR/USD
Weekly Trend direction: Bullish
Weekly trend reversal level: 1.1870
Key G7 support levels: 1.2150*, 1.2080, 1.2000, 1.1950
Counter-trend opportunities: 1.2280, 1.2370
Strategy: Whilst above the weekly trend reversal level buy dips to support levels after an entry signal.
Today’s trade suggestion:
Last week’s (almost piercing pattern, and this week’s break above the weekly reversal level, mean that I have
turned bullish on the euro. We need to be careful on this one, as the overall trend remains bearish, as does
sentiment from the Euro zone. This means that the counter-trend levels above at 1.2280 and 1.2370 are not only
potential good exit levels for long trades, but also chances to sell the euro if and when we get there. Support
levels below are listed above, with 1.2150 and 1.2080 being the key levels if the upward trend is to continue with
good momentum. Watch and wait for a clear G7 entry signal before buying – targets as above. We are into the
middle of June – historically a period for good strong trends before the holiday doldrums during July and August.
Summary:
Buy dips to supports at 1.2150/1.2080 after a clear G7 signal. Short term target 1.2280 and then 1.2370.

Bill Poulos has a new video series coming out this week.

The first one came out today and the link is below. As always I like to keep an eye on what is happening in the forex market and as long as it is a reputable author, I am happy forwarding the details on to you.

You are bound to learn something new from these videos so it is well worth the effort to watch them all.

Watch the first one here:

www.forexincomeengine.com

Here is the second…

Forex inspired by Einstein Video

here is the third…

Lunchtime Trade

There are four videos he is releasing so you will definitely learn something from them that is bound to improve your trading. The trick is to always have an open mind and listen for any “tips’ and insights that can improve or add to what you do now.

Cheers for now,

Chris.

Here is today’s report …

Jun. 21
For live trading and to continue to receive this report visit www.forex-science.com
IMPORTANT: This report is not an express or implied recommendation, guidance or proposal that any particular
Forex analysis or trade is appropriate to the particular investment objectives, financial situation or particular
needs of any recipient.
EUR/USD
Weekly Trend direction: Bullish
Weekly trend reversal level: 1.2100
Key G7 support levels: 1.2350, 1.2250*, 1.2150/80
Counter-trend opportunities: 1.2480
Strategy: Whilst above the weekly trend reversal level buy dips to support levels after an entry signal.
Today’s trade suggestion:
A very deliberate (and yet pedestrian) march higher has created yet another bullish week for the euro. This means we look to buy the currency into dips at the support levels listed above. 1.2250 is the key level early in the week. Some caution is needed: The long hourly trend line and the 8 day chart “soldiers” means that a significant correction is needed before more bullish momentum can be generated. If the hourly trend line breaks, the price could drop sharply to supports at 1.2250 and 1.2150/80. Notice the strong hourly stochastic divergence.

Countertrend
traders might still like to try small shorts from 1.2480 after a clear G7 entry signal.
Summary:
Buy dips to supports after a clear G7 signal. Try counter-trend shorts at 1.2480 after a decent g7 entry signal.

USD/JPY
Weekly Trend direction: Bearish
Weekly trend reversal level: 92.20
Key G7 resistance levels: 91.10, 91.40, 91.80/92.00
Counter-trend opportunities:

Strategy: Whilst below the weekly trend reversal level sell rallies to resistance levels after an entry signal

Today’s trade suggestion:
It’s been a while since the dollar turned bearish vs. the Yen. As we have been chopping around above the weekly trend line in a tight range for weeks, there isn’t much significance to the weekly candle direction. However, we’ll
go with the short direction and look to sell the dollar into rallies. Resistance lies overhead at 91.10, 91.40 and 91.80/92.00. We’ll watch and wait for a G7 entry signal before selling the dollar for a target of 90.00 and then 89.20. This is such a messy chart that avoiding this pair is probably the best strategy if possible.

Summary:
Sell the dollar into rallies to the resistance levels above after a clear g7 entry signal. Target 90.00 and then 89.20. Stay out if possible!

EUR/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.1870

Key G7 support levels: 1.2150*, 1.2250, 1.2150

Counter-trend opportunities: 1.2480

Strategy: Whilst above the weekly trend reversal level buy dips to support levels after an entry signal.

Today’s trade suggestion:

Last week’s (almost piercing pattern, and this week’s break above the weekly reversal level, mean that I have turned bullish on the euro. We need to be careful on this one, as the overall trend remains bearish, as does sentiment from the Euro zone. This means that the counter-trend levels above at 1.2280 and 1.2370 are not only potential good exit levels for long trades, but also chances to sell the euro if and when we get there. Support levels below are listed above, with 1.2150 and 1.2080 being the key levels if the upward trend is to continue with good momentum. Watch and wait for a clear G7 entry signal before buying – targets as above. We are into the middle of June – historically a period for good strong trends before the holiday doldrums during July and August.

Update: The euro rallied as expected from support at 1.2250. We’ll have to wait for a significant retracement before re-buying – probably next week. There is a counter trend opportunity to sell at 1.2480 (confluence of fibs and an “80” level. Watch and wait for a decent G7 entry signal before selling for a target at 1.2350. Could be agood one!

Summary:

Buy dips to supports after a clear G7 signal. Try counter-trend shorts at 1.2480 after a decent g7 entry signal.

IMPORTANT: This report is not an express or implied recommendation, guidance or proposal that any particular Forex analysis or trade is appropriate to the particular investment objectives, financial situation or particular needs of any recipient.

Remember: You can get a full analysis with charts if you are a member of the charter group at Forex-Science, as a matter of fact you get a heap more…

• Live trading and videos of me TRADING my G7 Forex and SCALPING systems system, answering all your questions, and taking every trade in full view on your OWN computer screen

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Sadly, there are some people that just plain will NEVER make it as a trader.

Oddly, the reason is NOT because they aren’t smart enough or because they don’t have the ability.  It is because of something that happened along the way that they haven’t addressed.  They are aware of it to a degree, because they can make money in their trading.  The problem is that they have a decent run and then get cocky and reckless, and then wind up giving it all back to the markets.

And this happens again and again and again.

Another ironic thing is that it really isn’t their fault because it is caused by their primal survival systems kicking in and over-riding their rational mind.  It’s a response triggered by a specific set of circumstances that are very common in trading, and once activated, this response tends to create a vicious cycle that is nearly impossible to break, at least without some help.

Here’s how it works.  We’ll use my friend Jerry as an example (of course Jerry isn’t his real name).

Prior to opening his account, Jerry hadn’t ever traded at all.  He’d just heard about it, but didn’t really know what it was about.  He quickly sought out the basics of how trading works and chose to try a few things he’d read about on different forums he’d found.

It didn’t take long and Jerry felt confident enough to open a live trading and began placing his first trades.  Afterall, how trading works is straightforward enough and he was pretty smart, certainly smart enough to get this.

During this time, he was trying earnestly to make money, but he was mostly hitting losers because this was all still very new to him.  When he hit his first decent winning trade, he was jazzed.  What a rush!  What a great surprise!

The next winner was even bigger and WOW this really rocks!

Jerry managed to run his account up by just over 20% and he was feeling invincible!  He’s got this trading thing down and he’s on his way!

It didn’t take long though until Jerry started getting reckless, jumping into trades that he had no business entering.  He felt helpless as his account balance went down to break even, then down by 10% from where he started, then down by 20%, then down by 30.  He couldn’t stop himself, even though he was well aware of what was happening.

Jerry put more funds into his account because he just knew that he could make this work, that he could repeat his nice run.

Unfortunately, Jerry was able to repeat the run, but not without repeating the rest of the cycle as well.

It finally got to the point where he just had to close his account and take a break.  He just couldn’t take it any more.  The most frustrating part of it is that intellectually he knew he could beat this, he just couldn’t seem to control himself once he started winning.

So Jerry called me up and asked for my help.

He wanted to understand why this happened and what he could do to fix it.

What Jerry didn’t understand is that what he’d been doing really was gambling.  He wasn’t trading, because he hadn’t taken the steps necessary to trade in a calculated and business-like manner.  What he had been doing was playing the game of anticipation and seeking the thrill of the unexpected.

Once a winner gets hit when you’re in this mindset, your brain chemistry is essentially the same as a drug addict and a gambling addict.  It kicks in and shuts down your rational mind while activating your pleasure centers in a big way.

The added danger of this and the reason that many people won’t make it in trading is because they’ve been caught in this experience, and they won’t be able to shake it until they quit gambling and truly treat their trading as a business – again in a very calculated and business-like manner.

If this story here sounds at all familiar to you, then I strongly urge you to check out the training in the Trading P.I.T. Club.  In it you’ll become that business-like trader that you need to be to stop gambling and start real trading.

Click here to find out more

Of course if you have questions, just let me know.

Cheers

Brian
“The Trading Turnaround Coach”

P.S.  Those that don’t attend to the problem described above are bound to only repeat the vicious cycle and unfortunately it can go on for years.  Don’t let it happen to you – stop gambling and get on with business-like trading that will help you keep your head clear and let you trade well rather than give it all back whenever you do make money.

Click here to find out more

Just a quick heads Up from James of Forex-Science…

“What if I told you that you could learn just about
everything there is to know about Forex trading right now?

And I really mean EVERYTHING…

Scalping, End of Day trading, hour chart trading
chart patterns, News trading, candle chart patterns,
4-hour trading systems, trade exit strategies, Fibonacci
trading…and a whole heap more.

www.forex-science.com/forex360.html

Speak soon
James de Wet

P.S. You’re going to learn at least 5 awesome trading
systems and dozens of insider tactics, which I have never
revealed anywhere else

www.forex-science.com/forex360.html

Your Trading Plan

Your trading plan should be based around your investment objectives, your personality

and your starting capital. Trading is different for everyone and it is important to have

a plan that is realistic and reflects your unique personality and circumstances.

Constructing & Implementing – Your Trading Plan:

Do Your Homework

It is firstly essential to learn the basics, how and why markets move and research

a method that you are comfortable with to trade: ie one that is based on sound

methodology, and one you can trade with confidence, and discipline. So before you

start to trade make sure you have good background knowledge on all aspects of

trading. You would not try and drive a car without lessons, and the same is true of trading

currencies. If you trade and “shoot from the hip”, or on tips from friends, and stories

in the financial press, you are almost certainly going to end up a loser over time.

Match Your Method To Your Personality

It should be one you have decided you have confidence in and can implement with discipline.

This may sound obvious, but many traders trade in a way that is totally opposed to their

personality. For example, if you are impatient and hate giving back any profits then a long-term

trend following system is not for you; you would probably be better suited to a shorter-term

swing trading method.

Begin With A Simple Method

One fact that remains true is that simple systems work best for most traders. There is no link

between the complexity of a method and how successful it is. Another advantage of simple

systems is they are easy to understand and implement and this helps you stay disciplined in

the face of the inevitable run of losing trades.

Begin With Sufficient Capital, Trade Small Positions And Diversify

The utopian dream is to start trading with a small amount of money and make it into

a fortune in a few months. The reality is this is unlikely to happen to the majority

who trade. The first thing to do when trading is start with enough capital to take a

string of losses. The simple fact is: the less you start with the lower your odds of

success. It’s a matter of logic. If you are hoping to get on board one big move, it

may take ten consecutive losses before the winner comes. By then your capital could

easily be depleted and the move you were hoping for comes without you being able to

participate. Always start with enough capital to allow you to take a few losses. If you

can you should hold a few trades in different areas to diversify your positions ie “don’t

put all your eggs in one basket” and blow your money in one trade. To start with keep your position size small and spread the risk.

Make Objectives Realistic

What is realistic amount of profit to aim for annually on your starting capital? Many investors when asked this question simply say as much as possible. They have not sat down and thought about it, they simply have read stories of the minority who have made it big and want to do the same. The fact is that most traders’ start with unrealistic expectations and this leads them in to a false sense of security. They ignore the risks of trading; they concentrate too much in one trade and risk too much and end up losing.

So what is realistic?

Any trader who can achieve growth rates compounded of 30% + per annum is doing very well. Generally, a compound growth of 30 – 50% per annum would place you in the top 10% of traders

that make money and this is a realistic goal if you do your homework.

Be Independent and Isolate Yourself

Emotions are your enemy when trading so it is important to be independent and follow

your own path. It may sound lonely relying on yourself and is in fact uncomfortable to

many but as time goes on your own opinion is just as valuable, perhaps more so than

any others, experts or novice traders.

Don’t Lose Sight Of Your Ultimate Goal:

The ultimate goal of trading is to make money. There is no goal greater than this in

trading. Though there are other benefits to trading self-satisfaction, competitiveness

and the actual thrill, these are all secondary. If you seek revenge against the markets,

other traders or merely want to compete for the sake of it, then the primary goal of

speculating will be lost and so will your money.