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  1. #1
    Specialist Member TAllen1429's Avatar

    Daily Trading Tips by Terry - Friday 18th October !!!

    Recommendations:

    Use an expiry time of 1 hour plus.
    Risk no more than 2% of your account balance.
    Tips are tradable until 4.00pm EST today.


    EUR/USD: The euro extended its gains against the US Dollar this morning demonstrated by this pair climbing by just over 25 pips. The US Dollar weakened further during the night amid increasing prospects that the Fed will refrain from stimulus tapering for longer that initially expected.

    The EUR/USD is presently tracking its upper Bollinger Band higher. With further greenback weakness in the pipeline, initiate a CALL binary option using this pair as its underlying asset if price surges above 1.3740.


    USD/JPY: The Yen extended the substantial gains that it achieved against the US dollar on Thursday by strengthening further overnight. This pair slumped by almost 50 pips breaking both beneath its important 98.00 handle and lower Bollinger Band.

    Stabilizing economic growth in China and the increasing prospects of easy money from the Fed exerted fresh pressure on the US dollar this morning. As currency specialists are now predicting further greenback weakness today, sell the USD/JPY following a clean break below 97.35.


    GOLD TRADING: After rallying for three successive days, bullion stabilized overnight by trading sideways within a confined horizontal channel. Although, the price of gold slipped by almost $5 per oz when the commodity markets commenced business this morning, it has subsequently rallied to par its initial losses.

    As analysts are forecasting that gold should benefit from a weakening US Dollar today, activate a CALL binary option, constructed on this metal, if price breaks above $1,324.20 per oz.


    AUD/USD: The release of encouraging economic data from its giant neighbor, China, helped the Australian dollar to rally against the US Dollar overnight. Data revealing that the Chinese economy grew at its fastest rate this year during the third quarter of 2013 provided a fresh boost for the Australian currency.

    Consequently, the AUD/USD surged by almost 50 pips this morning breaking above a key resistance level in the process. After just dipping to correct an overbought status in the last hour, the pair is now set to advance higher. Buy the AUD/USD if price jumps above 0.9695.


    SILVER: The price of this commodity tracked that of the correlated gold by range trading this morning within a well-defined horizontal channel. Silver rose during the last couple of hours to challenge its upper Bollinger Band.

    However, after being firmly rebuffed by that level, price underwent a retraction so that it is presently testing its middle band. If this level can now hold and with further greenback weakness expected today, buy silver if price can break assertively above $22.20 per oz.

  2. #2
    Specialist Member TAllen1429's Avatar
    Yesterday's Results

    A ‘CALL’ Binary Option was executed, based on the EUR/USD, with an opening price of 1.36453 (7.38am EST) which posted a closing value of 1.36516 at expiration (8.38am EST) finishing 'in-the-money'.

    A ‘CALL’ Binary Option was executed, based on the AUD/USD, with an opening price of 0.96351 (9.10am EST) which posted a closing value of 0.06359 at expiration (10.10am EST) finishing just 'in-the-money'.

    A ‘CALL’ Binary Option was executed, based on Gold, with an opening price of 1,314.204 USD per oz. (7.11am EST) which posted a closing value of 1,318.472 USD per oz. at expiration (8.11am EST) finishing 'in-the-money'.

  3. #3
    Specialist Member pinoyoptions's Avatar
    Quote Originally Posted by TAllen1429 View Post
    Yesterday's Results

    A ‘CALL’ Binary Option was executed, based on the EUR/USD, with an opening price of 1.36453 (7.38am EST) which posted a closing value of 1.36516 at expiration (8.38am EST) finishing 'in-the-money'.

    A ‘CALL’ Binary Option was executed, based on the AUD/USD, with an opening price of 0.96351 (9.10am EST) which posted a closing value of 0.06359 at expiration (10.10am EST) finishing just 'in-the-money'.

    A ‘CALL’ Binary Option was executed, based on Gold, with an opening price of 1,314.204 USD per oz. (7.11am EST) which posted a closing value of 1,318.472 USD per oz. at expiration (8.11am EST) finishing 'in-the-money'.
    Congrats sir TAllen more money to come.

    I am now closely watching your recommendation, i think i need to drink more coffee tonight...patiently waiting.

  4. #4
    Specialist Member TAllen1429's Avatar
    Hi pinoyoptions, thanks for your continuing support. Your extensive trading experience is greatly appreciated.

    For novices: I use my own software to alert me when a tip is activated allowing a trade to be open usually well within a pip of the stated entry point. If you are unable to get in within a few pips, then leave that tip and wait for another.

    In addition, as you must expect that this strategy will generate losses, plan your trading according. Try and gradually improve your position by increasing your account balance over the long-term. For instance, envisage where you will be, for example, in two months for now. Aim to collect just small wins by risking a sensible proportion of your balance, e.g. 2% or the minimum amount allowed by your broker.

    Imagine, the worse case that could happen instead of focusing and dreaming about incredible profits. Although the daily tips are generating an impressive win-to-loss ratio presently, do not assume that will continue to happen in the future. For instance, what would occur if you suffered ten consecutive losses. If you risked 10% per trade, your account balance would plummet by about 66%. In contrast, risking just 2% per trade under identical conditions would leave you with 82% of your original balance. Clearly, the latter case increases your chances of survival and will reduce the need for you to constantly replenish your trading capital.

    Let these daily tips work in your favor by using them over an extended period of time. I always attempt to paint the blackest picture as possible in order to instigate measures to restrict the number and size of my losses. I then just let my profits take care of themselves by constructing an ever-increasing equity base. Essentially, I allow compound interest to do its job.

  5. #5
    Specialist Member pinoyoptions's Avatar
    Hi sir TAllen,

    Thanks for your wonderful advice, I waited the whole night as for your recommendation but it didn't happen, about my trade size, i truly admit i am taking a lot of risk due to fact that i have only minimum account size to trade. My main purpose is to test my strategy at all market conditions. Primarily my favorite entry point is when the market produces a rapid increase in volume. When visually appearing on 1 hour chart, the entry point is executed in 5 min time frame. However I am fully aware that my trading strategy might not work in future time. My second line of defense against loosing, is to read BOTS pros recommendation.

    P.S. I am going to work now even though, i have 1 hour nap only.

    Thanks,
    PinoyOptions
    Last edited by pinoyoptions; 10-19-2013 at 12:49 AM.

  6. #6
    Specialist Member TAllen1429's Avatar
    Quote Originally Posted by pinoyoptions View Post
    Hi sir TAllen,

    Thanks for your wonderful advice, I waited the whole night as for your recommendation but it didn't happen, about my trade size, i truly admit i am taking a lot of risk due to fact that i have only minimum account size to trade. My main purpose is to test my strategy at all market conditions. Primarily my favorite entry point is when the market produces a rapid increase in volume. When visually appearing on 1 hour chart, the entry point is executed in 5 min time frame. However I am fully aware that my trading strategy might not work in future time. My second line of defense against loosing, is to read BOTS pros recommendation.

    P.S. I am going to work now even though, i have 1 hour nap only.

    Thanks,
    PinoyOptions

    Hi,

    Sorry for my late reply but have been a tad busy with numerous trading projects.

    I also used to spend long hours waiting for entry criteria to be meet by tracking just a couple of assets only. I even designed software alerts that used to 'bing' in the early hours of the morning. However, I gave that approach up after my wife said I was going 'off my head'

    With most of my present strategies, I now monitor all the assets available which is more than 100 currently. As such, I always find that a few have naturally activated my entry criteria every day no matter what time I inspect them. Certainly, this is a more peaceful and less stressful way of trading.

    As for the daily tips, I always attempt to produce them before 8.30am EST prior to the New York Exchange opening and major US economic data is scheduled for release (assuming the US government is working). This is basically because I live about 80 miles west of New York and mornings EST are often very busy times on the financial markets. All I can suggest you do in order to to prevent you staying up all night is that you could confirm how volatile the markets are between 8.30am EST and noon EST because price needs to acquire a significant amount of momentum in order to activate the tips.

    As such, if you notice that the five assets are range-trading or moving in the opposite direction to the ones needed to activate the tips, then I would recommend that you cease monitoring them for that day. Otherwise, you could try to install software alerts to advise you whenever a tip entry criteria is activated. I hope these suggestions are of help as I hate to see you lose any valuable sleep by trading the daily tips.

  7. #7
    Specialist Member pinoyoptions's Avatar
    It's ok sir Tallen, I simply love trading... I can't stand a day without looking at it.

  8. #8
    Specialist Member TAllen1429's Avatar
    I know what you mean - I am totally hooked as well and have been for many years.

  9. #9
    Specialist Member marvel's Avatar
    Thank you Terry for sharing those tips!

    I suppose how difficult it is to live in the same time zone with NY and to wake up in the morning when already all European markets are open and volatility is already increased. Making some EA that could send you alerts is a good idea. It could really save you a lot of time. Btw today will be a very busy day. With big volatility in the afternoon when the delayed NFP will be released and for sure the volatility will be tremendous. I am planning to trade after the release on USD/JPY pair and if possible on the US stock indexes DJIA and SP500.

    Have a nice and successful day!

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