Online Scalp Day Trade on the EUR/USD Forex Pair from May 22, 2013
All Charts on this Site are created using FXCM’s Marketscope Software.
High Probability Trades like the one shown above occur a few times each trading day for online stocks, futures and forex currency day traders. Online Day Trading just requires a lot of patience and discipline to sit and wait for the trades to happen. Of course we have some losing trades too, but they are few and far between once you learn to accurately read the market. It takes a while like everything else in life to master any online stock, futures or forex currency day trading systems out there or even the Watts Online Day Trading System as we are looking to take trades on the smaller time frame chart based on our read and the look and direction of the longer time frame charts. The Watts Online Day Trading System is the foundation for our trading. It can be used to trade any market like stocks, futures or forex currencies and on any time frame. We use it primarily to trade Currency, T Notes & Bonds, Energy, Precious Metals and Index futures contracts ourselves. We add filters like Fibonacci Ratios, Elliott Waves and Market Internals to further enhance the winning probability of the trading signals generated by the Watts Trading System. We also keep track of news events and various financial data releases in the US and worldwide using any one of highly reputable financial sites such as Yahoo, Google, MSN Money, Comcast Finance, CNBC, Bloomberg, CNN Money, ABC Business News, Fox Business News or Forex Factory which help in keeping us out of the market during such times as news releases can make the markets very volatile. We also refer to the CME Group website for news related to various futures contracts we trade and also for their Holiday Schedule for holiday and regular Trading Hours of various futures contracts. Econoday puts out a good US Economic Calendar too that can be used for easy reference. Stock Market Power is another good site for new traders to learn more about day trading strategies and a lot more about anything related to online stocks trading and futures, options or forex currency trading. Remember, we let the market come to us and NEVER chase the market as there will always be another opportunity around the corner. We know trading can be and is a boring business. Those are the times when you make money. When excitement enters the equation you are probably happily paying the market to participate which is your tuition or you are enriching other hungry market participants.