To add more fuel to the fire, she has gone ahead and released an interview which should give you plenty of insight into her trading approach.

Click Here To Read The Interview

It will let you look inside the mind of a $500 per hour trading genius.

It’s an old addage that goes, playing with people better than you will make you better at whatever you do. Compete with someone better than you for a few weeks at a particular sport or activity and your own game will improve dramatically.

So if you want to learn what a trader at the top of her game thinks, just check out the interview here:

Click Here To Read The Interview

This is a great way to learn some of the techniques successful traders use so pay attention to this one.

Happy Trading

P.S. Read the full interview here: http://www.scientificforex.com/genius.php

P.P.S. In case you missed yesterday’s report (and the Forex Bob video), you can still get it here: http://www.scientificforex.com/declassified.php

P.P.P.S. I got a sneak preview of an amazing trading tool Cristina will be releasing soon. So watch this space, you are going to want that one!

The animated story of a little guy called Bob, who wants to become a Forex trader. I think if you watch this quick video about Bob and Cristina’s journey in Forex, you might just recognize a few home truths. – http://www.ScientificForex.com

This shows that risk currencies will likely stay in fairly tight ranges ahead of the jobs reports later in the day.

The Euro was barely changed, as investors are also awaiting the outcome of talks between Greece and its private creditors. The talks centre on the so-called private sector involvement deal (PSI).

For the last few days Greek officials have repeatedly said that a deal is around the corner. Olli Rehn, the European Union Economic and Monetary Affairs Commissioner, also reiterated on Thursday that it could be agreed to by the end of this week.

Many analysts expect a short spike to occur on news of the deal being agreed to. However, the sentiment is that any euphoria will be short lived and the focus then will shift to whether the whole package will slot into place well in time for the March 20th bond-redemption deadline.

Traders have also remained very wary of possible intervention to weaken the Yen by Japan. Japanese Finance Minister, Jun Azumi, said today that speculative Yen buying had gathered momentum since last week. He repeated that he was ready to act decisively to counter “one-sided” moves.

The U.S Dollar meanwhile, has come under renewed pressure. This has been the case since the Federal Reserve last week pledged to keep interest rates low for longer. This in turn, makes it attractive for investors to use the greenback as a funding currency for carry trades.

On Thursday, Fed Chairman Ben Bernanke testified before congress and said that Europe’s financial crisis still threatened the U.S. recovery and that the central bank would do everything it could to ward off damage.

Bernanke said he was seeing signs that some of the factors dampening U.S. business investment, including uncertainty surrounding European bank woes, might be waning. But he kept the option of further easing on the table.

At 13:30 GMT the highly anticipated U.S. jobs report is due. The non-farm payrolls data is expected to show the U.S. economy generated 150,000 jobs in January and that the unemployment rate has kept steady at 8.5 percent.

It’s a possible “no-win” situation for the greenback, as any upside surprise would boost risk sentiment further, but any disappointment could also strengthen the case for more stimulus from the Fed.

The Euro touched an intraday low of $1.3114, while the Aussie nudged down 0.2 percent to $1.0692. The Dollar bought 76.21 Yen, near a record low around 75.31 Yen set on 31st October 2011 when Japan intervened.

All the best!

CLICK HERE TO READ THE FULL ARTICLE

“According to some analysts, Japan may then act with large scale intervention, if the Yen approaches a new record against the Dollar during Asian trading hours.”

Include an exerpt from the original

Click Here To Read The Full Article: http://www.wizardoftrading.com/1020/japan-may-act-with-large-scale-intervention-as-yen-approaches-new-record-against-dollar/

Tuesday 31st Jan 12

1st Resistance – 1.3233

2nd Resistance – 1.3302

1st Support – 1.3075

2nd Support – 1.2929

Monthly Pivot – 1.3087

Weekly Pivot – 1.3111

Strategy – As this might be a short term top, target short position.

Tactics – Taking light short positions below 1.3075.

Sell order is still open at 1.3065, 10 pips below support at 1.3075. Stop is set above resistance (1.3233) at 1.3241 and take profit at 1.2929.

As we are above the monthly and weekly pivot the direction has changed to up. There is upward moment but I will keep my short order for the time being. If we have a 4 hour close above resistance at 1.3233 I will close short order and wait for a pull back to get long.

CLICK HERE TO READ MORE

On Monday, the European leaders agreed on a permanent Euro zone rescue fund. Most also endorsed stricter budget discipline, but they fell short of reconciling fiscal austerity with growth.

The European Union leaders agreed to accelerate the setup of a full-time 500 billion-Euro ($659 billion) rescue fund. They also endorsed a German-inspired deficit-control treaty.

They left a Brussels summit late Monday, with no accord over how to plug Greece’s widening budget hole. German Chancellor, Angela Merkel, also voiced her frustration with the Athens government’s failure to carry out an economic makeover.

As a result, the Euro rose 0.4 percent to $1.3186 and remained below a 6 week high of $1.3235.

The outlook for Euro, in the opinion of many analysts, remains on the downside. Should Greece secure its deal with private bondholders and meet its 14.5 billion Euro payment on the 20th of March, the IMF would still have to consider the fiscal and growth objectives of the austerity efforts in Greece and Italy. The liquidity difficulties of Portugal’s sovereign bonds also pose a major challenge.

In fact, Portugal’s 10-year government bond yield topped 17 percent on Monday. This is the highest since the Euro was launched. This has reignited serious concerns that Lisbon may become the next Athens and indeed require a second bailout to avoid going bankrupt.

In other news, traders were on watch for intervention by the Bank of Japan to prevent further gains in the Yen.

The Dollar slumped to a three-month low against the Yen of 76.18. Its record low around 75.31 was reached on the 31st of October last year.

Japan’s Finance Minister, Jun Azumi, said his ministry is prepared to take “decisive” measures. They intend to curb the Yen’s appreciation as it approaches a post-World War II high.

All the best!

CLICK HERE TO READ MORE

Just the other day she cashed in on an $18k trade from one of the trade signals she shared with all her friends on Facebook.

Cristina posted a video on YouTube showing exactly how this trade played out. You can watch the video here:

Cristina’s more than happy to share her signals with other traders on Facebook, YouTube and Twitter. So make sure you visit the following links to connect with the trader that won the largest independent Forex trading competition in the World.

http://www.facebook.com/ScientificForex
http://www.youtube.com/ScientificForex
http://twitter.com/ScientificForex

Cristina’s also happy to answer any questions that traders may have and she recently hosted a private webinar with a closed group of traders so well worth checking this out.

Good trading

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By intraday I mean very short time frames such as 1 minute, 5 minute and 15 minute charts. This will apply to traders who actively trade and probably trade frequently during the course of the day.

Regardless of what technique you use to enter and exit the market this approach will aid you in deciding if you are on the wrong or right side of the market.

The first thing you should do when trading intraday regardless of the security is to have some general idea of where the market has been recently. You cannot of course start the day with a strong directional bias. The reason you cannot start the day with a strong bias is that intraday the markets can be very volatile and if you have stubbornly decided the market will go one way and it starts to go another you will find it difficult to change direction. This is because you will try and convince yourself that the move against you is temporary.

To overcome this directional bias I use the following discipline to help tell me when the market is doing something different from what I expect. To analyze the market first think of what happens in a typical up trend or down trend.

Let’s say that in an up trend the last two-day have made higher highs and higher lows. The close has also been higher for the last two days.

In order for that little up trend to continue what should happen?

For the up trend to continue on day 3 you would expect a higher low, a higher high and a higher close right! So lets look at what should happen on the third day.

On day 3 I would first like to see a low in place in the early part of the day. I often find that when an up trend is continuing the low is made first. In a down trend I like to see the high of the day made in the early part of the session.

As you can see from the chart above of day 3. We had the open then early in the day a low was made. As the day progressed the high of the day was made towards the later part of the day and then finally the close.

So how does this information help me? Well, if for example the low of day three continued lower than the low of day 2 I would begin to wonder if the market was retracing or reversing.

If the low of day three took out the low of day 2 when I expected it not too I would stand aside until I had a clearer picture of where the market was headed. It may just be that the market will continue up after making a low lower than day 2 but why take the risk.

I also like to see the low of day 3 tested in some way. As you can see from the chart the low was made then the market made some progress upward and then came back down to near the newly formed low where it found support (buyers).

This for me is a great indication that there is some demand at that level and gives me an opportunity to enter the market with very little risk as I can place my stop under the newly formed low.

As openings can be volatile I like to watch the first 30 minutes to 60 minutes to see how the market is shaping up before taking a position. I start with no definite directional bias but I am aware of what has been happening in the last few days and if it does what I assume it will do then I am ready to take action.

If it does not do what I assume it will do then I know that I may have miss-read the market and am ready to rethink my tactics for the rest of the day. As you should know by now the market is always right so its OK to have an opinion but don’t get married to it.

If the market takes out the low of day 2, stand aside and rethink your approach for the rest of the day particularly if the move is a strong move in the opposite direction from where you thought the market would go.

The one thing you shouldn’t do is wake up thinking that the market is going up (or down) and just keeps trading in that direction. Don’t fight the market, it will always win. Just go with the flow and realize when you are not going your way.

Good Trading

Best Regards
Mark McRae

Posted by Admin
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