Day Trading Strategy

8-08-2012 - Trading the Trend

Hello All,

Today we did not have much in the way of news. At 8:30am there was news on Prelim Nonfarm Productivity q/q and  Prelim Unit Labor Costs q/q, these numbers came in better than expected, but they are not known to be market movers. The next round of news came at 10:30am with Crude Oil Inventories came in at -3.7m.

I decided to go with the over all trend and take the AUD/USD long as my Day Trading Strategy today. I bought this pair at the 1.0555 level with stop at 1.0529 and target at 1.0603. It was a very small and slow move towards the 1.0600. We showed some resistance at our key level and I decided to end the day trading at 1.0576 level after adding more -  some at 1.0565. In all it was about 34-36 pips in total for us.

When To Use The Trend Day Trading Strategy ?

Well I tend to look more at the 4 hour chart when I decide on a Forex Trend Strategy. The 4 hour gives me a solid idea of what the last 4-8 hours have looked like. Keep in mind, I do not use this in particular to enter or exit my Day Trading Strategy Trades.

We commonly post twitter alerts daily on a Forex Trading Strategy  we also have a third party track all of our Trades from our Forex Trading Room in U.S. session

Here is the video on the Trend Day Trading Strategy.  I will make another video as markets start to pick up on this concept.