09-25-2007, 10:58 PM
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Current Leaders as of September Week Three
By: Joseph Woods, FX Powercourse Instructor
Current leaders as of September week three. Not eligible this month? Fund your account with at least $1,000 now to ensure your place in next month's King of the Mini Contest! Name %P/L Country Anonymous 553.37% China* Anonymous 369.89% United States* Anonymous 252.65% Jordan* Anonymous 238.82% United States* Anonymous 231.28% China* Over $4,000 in cash prizes awarded monthly. Learn more about prizes/contest rules. *Past results are not necessarily indicative of future results. As I mentioned in my previous post there are two market conditions a trader can speculate in. The two types are a range bound and a trending market. Today, I would like to illustrate how to properly trade a range bound market. Assuming a range bound market where support and resistance can be identified, the proper entry can make all the difference, between a successful trade, and an unsuccessful one. If we are to ‘go long’, we should try to enter the market as close to support as possible. Conversely, short entries should be made as close to resistance as possible. By doing so, we are taking the least amount of risk (risk=entry-stop), while giving ourselves the greatest potential reward. I prefer not to place any entry orders in the middle of the range as trades at these levels do not represent a good risk to reward ratio.
__________________
Sign up for the 8-day Course online: http://www.fxcm.com/power-course-promo.jsp Last edited by King of the Micro; 01-09-2008 at 11:27 PM. 
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09-27-2007, 08:22 AM
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Trades taken by KOM winners
hi moderator,
are you going to post the PDF files detailing the trades taken by the Aug and Sept winners as you did for the Jun and Jul KOM winners? or are they posted some where can i know? thanks a lot
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09-27-2007, 06:25 PM
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Winners for the Month of August, 2007 (Trading results)
Hello everyone -- we are posting the trading statements for August winners.
Please check them out.
__________________
http://www.forexmicrolot.com/trading-contest.jsp
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10-03-2007, 02:01 AM
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Current Leaders as of September Week Four
By: Joseph Woods, FX Powercourse Instructor
Current leaders as of September week four. Not eligible this month? Fund your account with at least $1,000 now to ensure your place in next month's King of the Mini Contest! Name %P/L Country Anonymous 1,285.89 United States* Anonymous 623.49 China* Anonymous 298.56 United States* Anonymous 289.86 United States* Anonymous 265.73 United States* Over $4,000 in cash prizes awarded monthly. Learn more about prizes/contest rules. *Past results are not necessarily indicative of future results. I would like to cover the concept of triangle formations today. Very often, after a significant trend, the market tends to form a consolidation pattern as the market fails to make new highs or lows. One very common pattern is a triangle consolidation pattern. This occurs as the buying pressure sends the highs lower, and at the same time, the selling pressure sends the lows higher. When the support and resistance lines approach one another, this can form a triangle. A triangle consolidation pattern can exist for a few hours up to a few months or more. In general, the longer the consolidation pattern continues, the stronger the subsequent breakout or breakdown can be. When a triangle breaks out, it is very common for the triangle to break out in the same direction as the overall trend in the market. Once we see this pattern emerge, traders can adopt a ‘buy low – sell high’ approach, but it is important to take note of the overall trend.
__________________
Sign up for the 8-day Course online: http://www.fxcm.com/power-course-promo.jsp Last edited by King of the Micro; 01-09-2008 at 11:27 PM.
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10-11-2007, 12:11 AM
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Winners for the Month of September, 2007
By: Joseph Woods. FX Powercourse Instuctor
Winners for the Month of September, 2007 Name %P/L Country Amadi, Chistopher 495.05% Nigeria* Okpere, Emmanuel 475.25% United Kingdom* Anonymous 430.08% United States* Bucheeri, Mohamed 315.62% Bahrain* Yang, Lei 220.19% China* Over $4,000 in cash prizes awarded monthly. Learn more about prizes/contest rules. *Past results are not necessarily indicative of future results. Today I would like to cover the importance of using complimentary indicators. Too many traders sometimes get bogged down by the sheer number of Technical Indicators available. This sometimes causes a novice trader to either use too many indicators at once or indicators that show the same aspects of the market. There is no set formula for which indicators to combine. It is typically up to individuals to piece together a strategy. However, it is best to use complementary indicators together. So you would not want to use two indicators that are designed to show you if the market is overbought/oversold. For example, you would want to use indicators that show both the overbought/oversold levels along with one that might show potential levels of support/resistance so that both indicators work together to confirm an entry point. We can see from the chart that the price action tests the support level and than begins to trend back up. This reversal in trend is confirmed by the RSI crossing back above the 30-mark.
__________________
Sign up for the 8-day Course online: http://www.fxcm.com/power-course-promo.jsp Last edited by King of the Micro; 01-09-2008 at 11:28 PM.
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10-11-2007, 02:28 AM
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Trading results for September's KOM Winners
By: Joseph Woods, FX Powercourse Instuctor
Here are the trading results from our 5 winners for this month.
__________________
Sign up for the 8-day Course online: http://www.fxcm.com/power-course-promo.jsp
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10-16-2007, 10:08 PM
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Current Leaders as of October 16th.
By: Joseph Woods, FX Powercourse Instructor.
Not eligible this month? Fund your account with at least $1,000 now to ensure your place in next month's King of the Mini Contest! Standing Country %Gain 1st China 777.38%* 2nd United States 675.91%* 3rd United States 520.36%* 4th United States 403.77%* 5th Untied States 345.72%* Over $4,000 in cash prizes awarded monthly. Learn more about prizes/contest rules. *Past results are not necessarily indicative of future results. Today, I would like to talk about how we can use the Stochastic Oscillator to help confirm support/resistance levels. Many times we will be able to use the Slow Stochastic to confirm support and resistance levels. For example, if we suspect a particular price level that may represent support or resistance, we should now look to the Slow Stochastic and note how it acts as the market approaches and tests these levels. Often times as the market tests either support or resistance, the Slow Stochastic will begin to trend away, or in the opposite direction, indicating the market does not have as much strength at these particular points.
__________________
Sign up for the 8-day Course online: http://www.fxcm.com/power-course-promo.jsp Last edited by King of the Micro; 01-09-2008 at 11:28 PM.
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10-23-2007, 11:07 PM
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Current Leaders as of October Week 3
By: Joseph Woods, FX Powercourse Instuctor
Current leaders as of October week three. Not eligible this month? Fund your account with at least $1,000 now to ensure your place in next month's King of the Mini Contest! %P/L Country 551.21 China* 479.17 United States* 405.94 Jordan* 327.79 United States* 322.92 China* Over $4,000 in cash prizes awarded monthly. Learn more about prizes/contest rules. *Past results are not necessarily indicative of future results.
__________________
Sign up for the 8-day Course online: http://www.fxcm.com/power-course-promo.jsp Last edited by King of the Micro; 01-09-2008 at 11:28 PM.
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10-26-2007, 11:21 PM
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I funded my mini account long time ago (aug 06 to be exact) and accumulated more than a thousand capital on it. However, I started Aug with less than $1k on my account. I also trade different currency and normally I do hourly trading.
Can I be consider on this contest?
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10-27-2007, 12:03 AM
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Quote:
The contest starts on the 1st trading day of the month and ends on the last day of the month. Contest leaders are tracked on a weekly basis. A trader with at least 1,000.00 USD or equivalent in their trading account is considered eligible for the cash prize or to be a weekly leader. Only trades opened and closed within the month are considered valid trades for the contest -- this means that the trader who bought EUR/JPY in 2006 @ 141.00 is not eligible for the contest (although he or she is very profitable). :-] To make the long story short: every one starts on the same page, $1,000 or above in account balance, only trades during the trading month are eligible, one must place at least 10 trades, one cannot make deposits or withdrawals, and a Margin Call will disqualify a trader from the contest. Hope this helps. May the trend be with you!
__________________
http://www.forexmicrolot.com/trading-contest.jsp
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11-07-2007, 03:47 PM
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Quote:
We have had repeat traders lead the pack on a weekly basis (where they're tracked anonymously), as well as on the monthly basis (where we post their longer term trading records).
__________________
http://www.forexmicrolot.com/trading-contest.jsp
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