http://www.babypips.com/blogs/pick-of-the-day/ Each day, I will try to find what I believe is the best looking short term trade setup for the upcoming trading day or week. If you're a forex newbie, it can be tricky in the beginning trying to figure out how to look at charts and draw lines. My goal is help you understand the psychology of price movements so you can learn to analyze your own charts and trade on your very own. I will post my ideas and/or reviews through out each session right here, on Twitter and on Facebook. Read First: My Trading Framework!! en Copyright 2012 Wed, 23 May 2012 00:03:37 -0500 http://blogs.law.harvard.edu/tech/rss It has been an interesting last 24 hours for the Japanese Yen. And while the BOJ didn't play out as thought it would--this time--it was a surprise announcement from Fitch that helped my idea turn into a positive outcome.<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/wpyVeS-vIwg" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/wpyVeS-vIwg/usdjpy_for_a_position_play.html http://www.babypips.com/blogs/pick-of-the-day/usdjpy_for_a_position_play.html Wed, 23 May 2012 00:03:37 -0500 http://www.babypips.com/blogs/pick-of-the-day/usdjpy_for_a_position_play.html Good morning forex fiends! It was a tough ending for my latest trade idea as risk-off flows came in hot and heavy to close out last week's trading. As per normal behavioral patterns, this spelled trouble for "risk-on" assets like the Canadian Dollar, as well as my EUR/CAD trade.<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/zf6NId88y-c" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/zf6NId88y-c/playing_the_eurcad_downtrend.html http://www.babypips.com/blogs/pick-of-the-day/playing_the_eurcad_downtrend.html Mon, 21 May 2012 00:12:40 -0500 http://www.babypips.com/blogs/pick-of-the-day/playing_the_eurcad_downtrend.html Good evening! Luckily for Dollar bulls, it was all about buying in Monday's session for USD/CHF. With the pair on its way higher and a new session in the works, I've decided to make some adjustments and look for new opportunities.<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/65g6SkX9OWE" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/65g6SkX9OWE/going_long_usdchf_on_greenback.html http://www.babypips.com/blogs/pick-of-the-day/going_long_usdchf_on_greenback.html Mon, 14 May 2012 23:48:23 -0500 http://www.babypips.com/blogs/pick-of-the-day/going_long_usdchf_on_greenback.html Good morning forex friends! It looks like the pullback higher wasn't as I as I hoped before sellers took EUR/USD down during the Thursday session and into the Friday session. With the weekend quickly approaching, it's time to make an adjustment.<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/7u4ckxXIkbw" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/7u4ckxXIkbw/swing_short_to_jump_in_the_eur.html http://www.babypips.com/blogs/pick-of-the-day/swing_short_to_jump_in_the_eur.html Fri, 11 May 2012 05:09:18 -0500 http://www.babypips.com/blogs/pick-of-the-day/swing_short_to_jump_in_the_eur.html Good morning! My day trade idea was triggered just ahead of the US session open, and while the area did look good as resistance, Cable just kept treading on higher. Here's how my trade played out.<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/d4KfIpWgWiU" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/d4KfIpWgWiU/day_trade_short_on_cable_1.html http://www.babypips.com/blogs/pick-of-the-day/day_trade_short_on_cable_1.html Tue, 08 May 2012 03:45:44 -0500 http://www.babypips.com/blogs/pick-of-the-day/day_trade_short_on_cable_1.html Good evening! It looks like my hopes to play USD/CHF were dashed this week as the rest of the market was eager to short the Dollar ahead of the much anticipated FOMC. Come see how it all played out!<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/UmE4sQ70BM0" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/UmE4sQ70BM0/swing_play_on_usdchf_resistanc.html http://www.babypips.com/blogs/pick-of-the-day/swing_play_on_usdchf_resistanc.html Thu, 26 Apr 2012 23:37:02 -0500 http://www.babypips.com/blogs/pick-of-the-day/swing_play_on_usdchf_resistanc.html Even after a big surprise from an MPC member this week on quantitative easing, the 1.6000 held pretty steady as resistance--until the UK retail sales report! Check out how the last major report for the week left me with a sour start to the weekend!<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/-jjfqtfKYsE" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/-jjfqtfKYsE/playing_the_cable_range.html http://www.babypips.com/blogs/pick-of-the-day/playing_the_cable_range.html Fri, 20 Apr 2012 05:45:17 -0500 http://www.babypips.com/blogs/pick-of-the-day/playing_the_cable_range.html Good morning Forex friends! I'm back to looking at the USD/JPY as the pair has continued to make a steady move lower from its highs a few weeks ago around 84.00. I'd like to try jump in this multi-week move--if the price is right!<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/hl5UwXJ6wzs" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/hl5UwXJ6wzs/short-term_short_on_usdjpy.html http://www.babypips.com/blogs/pick-of-the-day/short-term_short_on_usdjpy.html Sun, 15 Apr 2012 23:10:10 -0500 http://www.babypips.com/blogs/pick-of-the-day/short-term_short_on_usdjpy.html Good morning Forex friends! Time flies by when you're having fun battling the markets, and it looks like we're already a quarter of the way done with 2012! As the saying goes, "Pain + Reflection = Progress," so it's time to review how I did in the first quarter.<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/8-q08glWgO8" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/8-q08glWgO8/reflecting_on_my_first_quarter.html http://www.babypips.com/blogs/pick-of-the-day/reflecting_on_my_first_quarter.html Thu, 05 Apr 2012 08:00:39 -0500 http://www.babypips.com/blogs/pick-of-the-day/reflecting_on_my_first_quarter.html Good evening Forex friends! It looks like that bearish divergence signal was good one and both of my positions have triggered. Normally, I'd like let the market do its thing from this point on, but today's FOMC minutes changed the game.<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/shI-Hpy4vk8" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/shI-Hpy4vk8/going_long_cable_on_a_pullback.html http://www.babypips.com/blogs/pick-of-the-day/going_long_cable_on_a_pullback.html Tue, 03 Apr 2012 22:03:13 -0500 http://www.babypips.com/blogs/pick-of-the-day/going_long_cable_on_a_pullback.html Good morning forex friends! Not much action for USD/JPY this week after the big move sparked by Big Ben, and with the market trading at a potential support area ahead of the fast approaching weekend, I've decided to close my trade up for a small profit.<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/GE5mHvR7wH4" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/GE5mHvR7wH4/double_top_on_usdjpy.html http://www.babypips.com/blogs/pick-of-the-day/double_top_on_usdjpy.html Thu, 29 Mar 2012 04:25:22 -0500 http://www.babypips.com/blogs/pick-of-the-day/double_top_on_usdjpy.html No luck for my position trade attempt on USD/CHF as Friday's weak US data crushed the Greenback's recent gains.<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/JuAaDadQ_h8" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/JuAaDadQ_h8/position_play_on_usdchf.html http://www.babypips.com/blogs/pick-of-the-day/position_play_on_usdchf.html Tue, 20 Mar 2012 03:45:10 -0500 http://www.babypips.com/blogs/pick-of-the-day/position_play_on_usdchf.html Good morning! There was no action in Wednesday's session, so I decided to hold on to my short orders going into today's Asia session hoping to play some range bound action ahead of today's big events. See how it played out!<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/w_LIk_ttHF4" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/w_LIk_ttHF4/shorting_eurusd_for_the_sessio.html http://www.babypips.com/blogs/pick-of-the-day/shorting_eurusd_for_the_sessio.html Wed, 07 Mar 2012 06:35:44 -0500 http://www.babypips.com/blogs/pick-of-the-day/shorting_eurusd_for_the_sessio.html Good morning! Last week, both of my positions were triggered and the top of the range held. With a big week on the calendar coming up, I've decided to close down shop to avoid event risk.<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/FYPMQR1CHIc" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/FYPMQR1CHIc/a_swing_range_play_on_cable_ba.html http://www.babypips.com/blogs/pick-of-the-day/a_swing_range_play_on_cable_ba.html Mon, 05 Mar 2012 02:25:50 -0500 http://www.babypips.com/blogs/pick-of-the-day/a_swing_range_play_on_cable_ba.html Good afternoon! It looks like the market moved in my favor as Cable rallied and briefly touched my short order level before moving back below the 1.5700. See how it my day played out.<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/PqKj431ESbk" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/PqKj431ESbk/will_dovish_mpc_minutes_contin.html http://www.babypips.com/blogs/pick-of-the-day/will_dovish_mpc_minutes_contin.html Thu, 23 Feb 2012 12:15:18 -0500 http://www.babypips.com/blogs/pick-of-the-day/will_dovish_mpc_minutes_contin.html