S&P Downgrade PDF file...

Here's the actual file...VERY VERY VERY interesting stuff. Obviously SOMEONE read the debt bill...and they surely aren't buying it...But who was...
Let's just make money on the way down, and preserve capital. Be careful right now!

http://www.standardandpoors.com/servlet

Trading $EURUSD, $USDCAD, and $GBPJPY tonight...

Will update if necessary...slow action as of right now...Considering  a LONG scalp on the $EURUSD, but I believe we have a lot of major time-frame downtrends to remain aware of. Ultimately, 'the trend is your friend', so no matter what, if you go with the trend you will be bailed out 9/10 times if you have a poor entry.

I think no matter what, we will see resistance in the 136.00 are for the $GBPJPY (if it can get there). And for the $EURUSD, it looks like a descending trendline going back several weeks needs to break and hold at around the 1.20 area, so keep an eye out...

I may try to get short some things here, however, if the environment turns to negative once again. Ultimately, the major trend is down, so just be aware when scalping. Contact me with any questions!

Aloha,
Nigel


p.s. Guys/gals, this is a tough read, but WELL worth it...I always will recommend things that I have personally read and enjoyed or plan on reading. This is one I have read, and yes it's a bear, but the information is highly useful if you plan on going the Fib route for FOREX...

System Ideas and Recommended Reading : )

Short and sweet this weekend guys/gals, but trust me, the information below is extremely valuable and will help anyone trying to become a consistently profitable trader. The books, WITHOUT QUESTION, are industry standards, have been read by almost 100% of the profitable traders out there, and are a great starting point even for hobby enthusiasts, not just professional traders.  I find myself looking through these books time and time again, even though I have read all of them several times. I must say that my favorite 'educational story' is by Jesse Livermore (Edwin Lefevre's perspective) in "Reminiscences of A Stock Operator" and my favorite pure education book is by Mark Douglas, "Trading In The Zone". Those two books alone changed my approach to trading, and in doing so changed my life forever. Powerful stuff, and for those who have the time and effort required to absorb not only the direct lessons and facts, but as well the nuanced psychological and behavioral tips, success is only a matter of your level of determination. Empower yourself and take your trading to the next level...

A quick update on our potential "trading room". I have been in contact with several of you from around the globe (great to have a worldly group!), and it looks like there could be enough quality interest to try some interesting things out. I am proposing to do a sort of 'group meet n' greet' in Webinar format next week. It will be FREE of course, and should give everyone a good chance to look at my charting and systems, ask questions, talk FOREX and trading, and perhaps even find some setups to teach with and give quality examples with so everyone can have a taste of what to expect from a fully paid QUALITY service a few months down the road. Too much hype in this business, far, far, far too much. I became fed up with it years ago and was lucky to get in contact with a few professionals who mentored my development, so naturally I have a great desire to share the success with others, but it's just so hard to separate one's self from "the sludge". So, alas, this is my attempt, and hopefully we can all share in the benefits together! I also realize how hard it is to find quality help out there, believe me, I have experienced my own amount of scams and fast talkers. NOT COOL. And to boot, it just makes the industry more shady and helps nobody. So lets be committed, honest, learn, and make a great deal of cash while doing it. Come join me!

Aloha,
Nigel/Hawaiitrader.... (okay, so yea, not so "short and sweet", lol)

JUNE 3rd TRADING COVERAGE!

We will be in serious update mode all night guys...Email and check back.. Twitter also...

Nigel4sher@gmail.com

Nigel4sher on Twitter...

Trader Coaching and Real-Time Trading Room..

Hey Traders-

Going to focusing on getting these two aspects up and running again. Please chime in with any requests/ideas. I am looking to set up a FULL SERVICE, REAL TIME, and PROVEN profitable trading room, but I am only going to accept the FIRST 15 TRADERS who are SERIOUS about trading and serious about making money in FOREX.  I will also include free coaching during these trading sessions, as well as individualized one-on-one coaching if this is desired. We will make great trades, we will make money, and we will all learn a heck of a lot from each other. Most of this industry is total BS. That's why I had to go out on my own and figure things out. Now I want to return the favor, and trading with friends is always better!  I have great systems and indicator setups that I use in my own trading that I am more than willing to share with others, all I ask is that you come everyday and give it a good effort. The room will be FREE FOR THE FIRST 30 DAYS. After that point, it will only be $24.99/month for basic and $49.99/month for advanced memberships....Details to follow, no need to rush guys/gals. Just let me know what you want/like/thing works/doesn't work...I'm looking forward to it!

Aloha and Happy Trading...

Nigel

I included a few helpful books to get you started down the right path. Books that I have read and most successful traders have read. Right of passage guys!

THIS IS THE HOLY GRAIL OF TRADING MEMOIRS. MUST READ. Priceless takes from Jesse Livermoore, the best trader to ever live.

Fantastic read, BIG time traders talking strategy, psychology, and technique. Must read for serious long term success...

One of my FAVORITE trading books of all time. Marty Swartz, you ROCK! This guy knows about trading, knows the game. These are the types of minds we want to pick...

Hello Traders! $EURJPY trade winner...

Hey everyone...hope your overnight trading was successful. We have had several nice trades in a row now, so while we never expect to lose, we prepare mentally for the moment when it happens during a 'winning streak'.

Nice $GBPUSD trade two days ago...Another nice $EURJPY trade last night, we definitely had to deal with some whip-saw and shake-outs, but alas, the setup held together and never pierced the low end of the stop range (or the major 240 min up trendline!) which are both powerful together.  Along with some RSI confirmation, we should have been in and out within a few hours, +77 pips in hand. Makes about +130 from the last two days, great job guys!

I will be back later....

$EURJPY, $GBPUSD

LOVING THIS PRICE ACTION GUYS....Classic WEAK LONG shake, and WEAK SHORT induction...

Recipe for profit. Losing traders on the long side just busted....Shorts that just entered will now be squeeeeezed. We take the other side (long $EURJPY) and we take the money. That's how we do it guys...Very nice....

Patience. Stops.

Aloha...

$GBPUSD update..

If you still have your short on...HOLD IT! Looking good...

My quick $EURJPY scalp is working...holding...I guess I closed that original $GBPUSD short too soon, but alas, this is the life of a trader. No fretting! Next trade...always a next one. Forget the last one...

Working on my $EURJPY trade. Stops still in the high 111's range. Targets low 113's....It is a QUICK SCALP LONG, only based upon heavy shorts in this zone. $GBP can bring that down, however, so keep an eye out and RUN YOUR STOPS....Will update if needed....

$EURJPY quick scalp...

$EURJPY is looking very bullish, lots of short covering in here....

The original long is still valid, but I am adding a quick scalp in here. Very nice inflection trading, so not a bad idea. This is sort of a 'trade on the side'....No need to follow along, unless you feel comfortable are within proper risk limits, and UNDERSTAND THE ENTRY. Please email me for further info...

Nigel4sher@gmail.com.  This is going to be a quick trade, the original long can hold on and let it profit out or stop out.

Aloha....

$GBPUSD... closed short trade...

Hey Traders...

Well, it's another whippy session here in FX land...I took the inflection short signal on $GBPUSD that I talked about in my previous post, the Fib level from the May HIGH and LOW (approx 1.4732). We spiked a bit over that, but quickly pulled back in as the US futures briefly turned red also. Heavy GBP selling compared to JPY pairs, especially in comparison to the equities and metals/commodity futures. Always good things to watch when planning these scalp FOREX trades. Very correlated.

Anyways, I did extend my stop about 20 pips over the Fib, which was a good call, the average true range of the 240 minute bars were getting pretty big, so it was prudent.  Covered this trade for a +51 pip profit...Not great, but not bad at all. Nothing to complain about....

UPDATE:

I have received a LONG signal for the $EURJPY pair, at the breakout of big congestion around the 112.00 area. After spiking below the infamous 110.00, $EURJPY has acted quite bullish, but has been pulled around by Euro weakness/indecision. Sorry for not posting this BEFORE (which I like to do normally), but it was triggered pretty quick. For the record, entry at 112.11 LONG, and still holding. Currently trading 112.59 and looking for more. Lots of shorts in here guys, easy to spook so be careful in here. I would say anything over 112.00 is safe hanging onto, anything below I am out. I am looking for 113.25 as a profit target.

ALWAYS USE STOPS! Add to winners, cut losers, and trim some as the profit stacks up. Don't cut the winners early, but ensure you take some profit home when you have a green trade. This can be as simple as just ensuring that you 'break even', which is actually a profit because of the spread we pay for entry/exit.

Will update as necessary!

Aloha....