Forex Mom

We are what we think; all that we are, arises with our thoughts; with our thoughts, we make the world.

70% of the time the market is in consolidation; only 30% of the time it is trending.

When the candles are no longer making higher highs and higher lows (uptrend) or lower highs and lower lows (downtrend) then the candles are in consolidation.

Sell Resistance and buy support
Sell Resistance and buy support

We do not follow the fibonacci’s when we are in consolidation. We do not follow crowns either.

We draw the lines of support and resistance. If the distance between support and resistance is greater than 120 pips, it is large consolidation.

When the candles go down to support and we see a good bullish candlestick formation, we enter long. We place our stop 10 pips below the support line (or low of the candlestick formation) and we place our limit 10 pips before the line of resistance. It is a good idea to move your stop loss each time a higher low is formed.

When the candles go up to resistance and we see a good bearish candlestick formation, we enter short. We place our stop 15 pips above the resistance line (or high of the candlestick formation) and we place our limit 10 pips before the line of support. It is a good idea to move your stop loss each time a lower high is formed.

Trading large consolidation

Trading large consolidation

It has been especially helpful for me to watch my mentors trading large consolidation. I learned more from waching them than from reading theories all day long. My mentors are Market Traders.

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An Indian walks into a cafe with a shotgun in one hand and a bucket of buffalo manure in the other. He says to the waiter, “Me want um coffee”.
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One day, a blonde office worker comes out to the warehouse. As she is walking, she looks up and sees a co-worker hanging upside down from an I-beam in the ceiling. She asks, “What are you doing?”
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Fundamental Announcements tend to move the market very fast. It is important to watch for them. They require different trading strategies when the announcement is very different from what is expected. Bankers tend to trade on fundamental announcements.

Here is the list of announcements we need to watch for.

Fundamental Announcement List

Fundamental Announcement List

Market Traders have an economic calendar on their website that lists the upcoming fundamental announcements and the expected announcement. During every live analysis of the market, five times a day, the mentor begins by going over the upcoming FA’s and which ones to keep an eye on (the ones that have a large impact… like Non-FarmPayroll Indicator).

MTI's Economic Calendar

MTI's Economic Calendar

Market Traders also has a checklist for trading fundamental announcements. Join MTI and get the checklist for trading. It’s more fun than a roller coaster ride! (You also need to have nerves of steel to do it).

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After I retired, my wife insisted that I accompany her on her trips to Target. Unfortunately, like most men, I found shopping boring and preferred to get in and get out. Equally unfortunate, my wife is like most women – she loves to browse. Yesterday my dear wife received the following letter from the local Target.

Dear Mrs. Fletch,

Over the past six months, your husband has caused quite a commotion in our store. We cannot tolerate this behavior and have been forced to ban both of you from the store. Our complaints against your husband, Mr. Fletch, are listed below and are documented by our video surveillance cameras.

1. June 15: Took 24 boxes of condoms and randomly put them in other people’s carts when they weren’t looking.

2. July 2: Set all the alarm clocks in Housewares to go off at 5-minute intervals.

3. July 7: He made a trail of tomato juice on the floor leading to the women’s restroom.

4. July 19: Walked up to an employee and told her in an official voice, ‘Code 3 in Housewares. Get on it right away’. This caused the employee to leave her assigned station and receive a reprimand from her Supervisor that in turn resulted with a union grievance, causing management to lose time and costing the company money.

5. August 4: Went to the Service Desk and tried to put a bag of M&Ms on layaway.

6. August 14: Moved a ‘CAUTION – WET FLOOR’ sign to a carpeted area.

7. August 15: Set up a tent in the camping department and told the children shoppers he’d invite them in if they would bring pillows and blankets from the bedding department to which twenty children obliged.

8. August 23: When a clerk asked if they could help him he began crying and screamed, ‘Why can’t you people just leave me alone?’ EMTs were called.

9. September 4: Looked right into the security camera and used it as a mirror while he picked his nose.

10. September 10: While handling guns in the hunting department, he asked the clerk where the antidepressants were.

11. October 3: Darted around the store suspiciously while loudly humming the ‘Mission Impossible’ theme.

12. October 6: In the auto department, he practiced his ‘Madonna look’ by using different sizes of funnels.

13. October 18: Hid in a clothing rack and when people browsed through, yelled ‘PICK ME! PICK ME!’

14. October 21: When an announcement came over the loud speaker, he assumed a fetal position and screamed ‘OH NO! IT’S THOSE VOICES AGAIN!’

And last, but not least:

15. October 23: Went into a fitting room, shut the door, waited awhile, then yelled very loudly, ‘Hey! There’s no toilet paper in here.’ One of the clerks passed out.

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The surgeon said, “Look, we’re the most important. God is a surgeon because the very first thing God did was extract Eve from Adam’s rib.”
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The following is the philosophy of Charles Schulz, the creator of the ‘Peanuts’ comic

You don’t have to actually answer the questions. Just onder on them. Just read the e-mail straight hrough, and you’ll get the point..

1. Name the five wealthiest people in the world.
2. Name the last five Heisman trophy winners.
3. Name the last five winners of the Miss America pageant.
4. Name ten people who have won the Nobel or Pulitzer Prize.
5. Name the last half dozen Academy Award winners for best actor and actress….
6. Name the last decade’s worth of World Series winners.

The point is, none of us remember the headliners of yesterday. These are no second-rate achievers. They are the best in their fields. But the applause dies. Awards tarnish. Achievements are forgotten. Accolades and certificates are buried with their owners.

Here’s another quiz. See how you do on this one:
1. List a few teachers who aided your journey through school..
2. Name three friends who have helped you through a difficult time.
3. Name five people who have taught you something worthwhile.
4. Think of  few people who have made you feel appreciated and special!
5.. Think of five people you enjoy spending time with.

Easier? The lesson:
The people who make a difference in your life are not the ones with the most credentials.. the most money… or the most awards. They simply are the ones who care the most!

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A group of professional people posed this question to a group of 4 to 8 year-olds, “What does love mean?” The answers they got were broader and deeper than anyone could have imagined. See what you think:
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A shopkeeper was dismayed when a brand new business much like his own
opened up next door and erected a huge sign which read ‘BEST DEALS.’
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A man walking in the countryside meets a shepherd and a big flock of sheep. The man tells the shepherd: “I will bet you 1000 against one of your sheep that I can tell you the exact number in this flock.”

The shepherd thinks it over; it’s a big flock so he takes the bet. “855,” says the man.

The shepherd is amazed, because this is the exact number. Says “OK, I’m a man of my word, take a sheep.”

Man picks one up and starts walking away. “Wait,” shouts the shepherd, “Let me have a chance to get even. Double or nothing that I can guess your exact occupation!” Man says “OK.”

“You are an economist working for the government,” says the shepherd. “Amazing!” responds the man, “You are exactly right! But tell me, how did you conclude to that?” “Well,” says the shepherd, “put down my dog and I will tell you!”

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