http://www.babypips.com/blogs/pick-of-the-day/ At the end of each trading day, I will find what I believe is the best looking short term trade setup for the upcoming trading day. 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. Trades will be posted by 1 am ET, Monday through Thursday evening. Read First: Trade Rules!! en Copyright 2009 Mon, 13 Jul 2009 19:47:30 -0500 http://blogs.law.harvard.edu/tech/rss Good evening! There's a potential short term, swing trade setup forming in EURUSD. We've seen a bit of retracement from last week's risk aversion moves. Is it time for the trend lower to continue?<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/XMJE7qTnpbI" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/XMJE7qTnpbI/pick_of_the_day_eurusd_60.html http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_eurusd_60.html Mon, 13 Jul 2009 19:47:30 -0500 http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_eurusd_60.html Yo Yo! Man, it looks like my trade never materialized as USDCHF barely missed the 1.0950 level before dropping down to 1.0800 and beyond. Doh! It's the end of the week and<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/CmPjUKhv2nY" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/CmPjUKhv2nY/pick_of_the_day_usdchf_46.html http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_usdchf_46.html Fri, 10 Jul 2009 15:40:22 -0500 http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_usdchf_46.html Good evening! It looks like I couldn't get into any positions this week as USDJPY did rise towards 97.00, but not enough as the pair did not trigger. With a possibly wild economic day coming up, I have decided to avoid event risk and close my trades orders out.<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/OZSq5NWI0Pw" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/OZSq5NWI0Pw/pick_of_the_day_usdjpy_54.html http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_usdjpy_54.html Wed, 01 Jul 2009 22:42:44 -0500 http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_usdjpy_54.html Good morning! It looks like I am short some EURUSD as the pair moved up yesterday to my entry point at 1.4000. It looks like sellers were waiting to jump in at<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/ETL4grOJXGE" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/ETL4grOJXGE/pick_of_the_day_eurusd_59.html http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_eurusd_59.html Fri, 19 Jun 2009 10:53:41 -0500 http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_eurusd_59.html And yet another cruel day in the Forex markets...haha! Since I posted my trade idea, USDJPY did fall enough to trigger my long trade at 97.75. Unfortunately, today the pair went<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/N1n0UYNEUo8" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/N1n0UYNEUo8/pick_of_the_day_usdjpy_53.html http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_usdjpy_53.html Wed, 10 Jun 2009 10:17:27 -0500 http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_usdjpy_53.html Good evening! It looks like USDJPY did not go my way as the pair broke out to the upside. I have decided to close my entry orders, especially as we head into US jobs data.<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/S56pYprSpsk" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/S56pYprSpsk/pick_of_the_day_usdjpy_52.html http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_usdjpy_52.html Thu, 04 Jun 2009 21:45:33 -0500 http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_usdjpy_52.html Good morning! Last night, a report from Japan shows demand grew for overseas assets among Japanese investors, adding to the growing sentiment that the recession is abating. This sparked a<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/ncooaM9WR5c" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/ncooaM9WR5c/pick_of_the_day_usdjpy_51.html http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_usdjpy_51.html Thu, 28 May 2009 09:15:57 -0500 http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_usdjpy_51.html Good morning! My short trade idea in USD/JPY was triggered at 96.50, where it had quickly found resistance and sellers to push the pair down as low as 95.50. With the FOMC meeting minutes coming up this afternoon, I have decided to<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/qg3b1k-7eAg" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/qg3b1k-7eAg/pick_of_the_day_usdjpy_50.html http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_usdjpy_50.html Wed, 20 May 2009 09:26:35 -0500 http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_usdjpy_50.html Good morning! I was able to catch some pips yesterday for a small gain as Cable rallied higher to hit my entry orders at 1.5180. Luckily, the pair dropped far enough to hit my first profit target, where I<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/vZiT7ybrsfY" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/vZiT7ybrsfY/pick_of_the_day_gbpusd_77.html http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_gbpusd_77.html Fri, 15 May 2009 07:23:10 -0500 http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_gbpusd_77.html Good afternoon! After waiting a few days of waiting, my short position was triggered as EUR/USD rallied after today's US employment data. Unfortunately, 1.35 did not hold for very long as<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/BnsF3jezDJE" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/BnsF3jezDJE/pick_of_the_day_eurusd_58.html http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_eurusd_58.html Fri, 08 May 2009 14:55:27 -0500 http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_eurusd_58.html Good afternoon! It's the end of the trading week, so it's time to close up shop to avoid any weekend risk. EUR/USD failed to move anywhere after I entered short a couple of days ago as<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/z7sTF-uHzow" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/z7sTF-uHzow/pick_of_the_day_eurusd_57.html http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_eurusd_57.html Fri, 01 May 2009 15:12:00 -0500 http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_eurusd_57.html What's up! It's another great afternoon, especially as GBP/USD falls today on news that the UK Treasury plans on selling a record number of gilts in an attempt to lift the economy out of recession.<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/CgSANTDHoe4" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/CgSANTDHoe4/pick_of_the_day_gbpusd_76.html http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_gbpusd_76.html Wed, 22 Apr 2009 14:49:07 -0500 http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_gbpusd_76.html Good afternoon! Since my trade idea, USD/JPY has pretty much stayed put. Recent economic reports have brought a bit of action to the markets, but no<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/nMQPBLl278Y" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/nMQPBLl278Y/pick_of_the_day_usdjpy_49.html http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_usdjpy_49.html Fri, 17 Apr 2009 14:35:07 -0500 http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_usdjpy_49.html Good evening! The Greenback sold off against most of the majors at the beginning of trading this week on general risk tolerance growth. This pushed EUR/USD up a couple of handles and<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/PdgP0xA-nH4" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/PdgP0xA-nH4/pick_of_the_day_eurusd_56.html http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_eurusd_56.html Tue, 14 Apr 2009 00:49:21 -0500 http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_eurusd_56.html Good morning! With the end of the trading week quickly approaching, and a nice little pop in the Greenback, I have decided to close my trade to avoid any event risk.<img src="http://feeds.feedburner.com/~r/PickOfTheDay/~4/8B_iyIGh8mo" height="1" width="1"/> http://feedproxy.google.com/~r/PickOfTheDay/~3/8B_iyIGh8mo/pick_of_the_day_eurusd_55.html http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_eurusd_55.html Fri, 27 Mar 2009 06:50:50 -0500 http://www.babypips.com/blogs/pick-of-the-day/pick_of_the_day_eurusd_55.html