Posted on July 27th, 2010
by Rapid Forex
This is a closed trade that was placed as part of a live forex training.This trade happened a few hours after another successful EUR/USD trade, which I posted on the rapid forex blog yesterday.
This trade was placed in a real forex trading account & was posted as it happened. Below you can read the unedited log of this trade to see an example of Forex Surfing in action:
EUR/USD Archive Trade
In this trading session, I’m watching the USD/JPY. On the 5-min charts, there’s an up trendline break. We’re very close to the fibonacci retracement for a short wave: 
I’ve drawn a picture of what needs to happen on the 1-min charts to enter this trade. Basically, we have to cross the 38.2% retracement line at 86.89, then form a 1-min umbrella handle where we can get in above 86.89 short. If that happens, it’s a decent trade opportunity. To support this trend direction look at the 4-hr chart below which shows a nice umbrella handle: 
So I’ve entered the trade, I’ll take this as a 1min trendline break down: 
Here’s the eToro settings: 
And Here’s the other details: currency pair: USD/JPY timeframe: 5-min short I: 87.08 II: 86.77 III: 86.92 Entry: 86.92 Stop: 87.08 (max loss = 16 pips) Limit: 86.61 (gain = 31 pips) reward/risk = 193.75% Here’s a screenshot of the fibonacci calculator filled out: 
And a screenshot of the 5-min chart by the numbers (entry price at arrow):
30-Min into Trade
If you were looking at the 1-min chart below during this trade, you might have gotten worried about the small uptrend (red line), but you could take consolation in the fact that a head & shoulders formed (red circles). This is a reversal signal, for the little 1-min uptrend. This is exactly what we want! Of course the trade can still succeed or not work out, but this is the type of stuff you look at…
Trade Closed for Profit
At 01:28 pm GMT this trade closed for a profit of 31 pips when the limit was hit. I was out riding my moped along the ocean, so this was a smooth surf! This added 1.96% to the $200 forex trading account. That’s almost 2% in under 3 hours!
Posted in
trades
Posted on July 26th, 2010
by Rapid Forex
This is a closed trade that was placed as part of a live forex training. This trade was placed in a real forex trading account & was posted as it happened. Below you can read the unedited log of this trade to see an example of Forex Surfing in action:
EUR/USD Archive Trade
After leaving the London session this morning, a nice umbrella handle has formed breaking out to the downside below the channel described in the previous post.
EUR/USD 5-min Channel Breakdown
On the 5 min chart you can see that we’ve formed a nice umbrella handle: 
To try & get the best price, I’m waiting for the 1-min uptrendline to be broken (see image below): 
Ok, I’ve entered the trade, here are the details: currency pair: EUR/USD timeframe: 5-min I: 1.2845 II: 1.2790 III: 1.2820 Entry: 1.2815 Stop 1.2845 – max risk = 30 pips Limit: 1.2760 – reward = 55 pips reward/risk = 183.33% Here is the etoro screen with the settings: 
Here’s the 1-min crossover
And here’s the fibonacci calculator: 
Trade closed for 55 pip profit!
I woke up this morning pleasantly with a 55 pip gain on this trade. Here’s a screenshot of this trade on a 5-min chart. As you can see below, the price channeled for a little while before hitting the profit limit of 1.2760. 
Sometimes the best trades are the ones I place & walk away…Still it’s always fun to wake up with more money than before you went to sleep!
Posted in
trades
Posted on June 25th, 2010
by Rapid Forex
This is a completed trade example, this trade was originally posted in the LIVE 90 day forex trading member’s area.
June 23rd 2010: I just placed a trade on the USD/CAD 15-min charts. I’ll add more details soon, but want basic trade info to be public for now. Here are the details:
currency: USD/CAD timeframe: 15-min charts
I – 1.0308
II – 1.0457
III – 1.0359
IV – 1.0549
Entry -1.0398 long
Stop -1.0308
Limit – 1.0549
Reward/Risk = 167.87%
Potential Reward = 151 pips
Risk = 90 pips
Here are 2 screen shots:
100% Valid to Stick With Trade
Since this trade met all entry requirements, no adjustments are required. You could stick to the original trade plan, but since the 2nd wave may have failed (we don’t know yet for sure), it’s possible to make an adjustment. I made this adjustment & explain why below.
Trade Update – Stop Adjusted
After nearly 24 hours, I have adjusted the stop on this trade. The stop has now been moved up to the entry price of 1.0398 because a new high had been reached (point IV on picture below): 
Once the price in this trade reached a point higher than III, the stop can be moved from I to III. In this case I used my entry price as III. This trade is now a “risk free trade” because no loss is possible. I still haven’t changed my limit, but if we approach the most recent high (IV), if the trend turns down again, I will look for an opportunity on the 5-min chart to exit. The most recent movement on the chart looks like a potential candy-cane, so we could still see an upside breakout. We’ll probably be in a consolidation channel until the US market opens tomorrow.
2nd Wave Failure?
If you look at the 15-min USD/CAD chart above, you can see that the second wave after our initial I-II-III wave setup did happen, it was simply collapsed and distorted. This is due to a slowing momentum in the trend. This is also forming a potential double top. In this situation, we have some warning that the price might go down, so raising the stop is a good idea. This is a little more involved of a trade, but a good learning opportunity.
Waiting for a 61.8% Level
The most recent movement is potentially forming a new candy-cane. This would happen if the current price moves down to 1.0414. Once this happens, it could bounce up further. In this case, the price moving down a little bit isn’t bad… Of course the price could continue to go down, so we’ll have to wait & see.
Stopped Out for $0 Loss
Right before the North American market opened on June 25th, this trade hit it’s stop for a $0 loss. The loss was $0 because the stop was adjusted when we entered the second wave. See the picture below for when the stop was hit:
Final Trade Thoughts
This was a good first trade for the LIVE 90 day forex trading bootcamp. It introduced an adjustment strategy that I was planning to share a little later, but have now shared. I’ll be preparing a video to describe this in more depth. Now the forex market is closed, but next week will be even more exciting as I find more trades to share with you. The frequency of trades will increase, this week was kept intentionally slow to allow people time to follow a trade for possibly the first time!
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