UPDATE
I have had some complaints about my new way of trading FX. The complaints centres around that I am not trading frequently now. That is true.
However, I want to point out some merits of this approach. For example I have an order in Dollar Yen at 133.35. Now the market didn't hit my order, but came within 30 pips of doing so, before dropping 350 pips. These are the trades I want to capture. That is why I am resting orders in market.
Another example is my GBP USD order, currently at 1.2138. The market came close but not close enough before rallying 160 points.
The Euro Yen trade earlier in the month was a breakeven trade, but not before being 130 points in profit. The AUD USD order was also not far from being filled, before rallying 100 points.
I will continue to provide orders at key levels, hoping to capture bigger moves in the FX market with little stress.
The current open orders are staying in the market.
Thank you
Tom ❤️
Good morning,
There is a panic in the stock markets. It is affecting the currency markets. There is a move away from the US Dollar. I can see currencies like the British Pound strengthen towards 1.26 area.
I am trying to be smart about it, and my orders on the chart is reflecting this.
DOLLAR YEN SHORT ORDER
Short at 133.35
Stop loss at 134.50
STERLING DOLLAR LONG ORDER
Long at 1.2138
Stop loss at 1.2010
AUSTRALIAN DOLLAR LONG ORDER
Long at 0.6575
Stop loss at 0.6510
These orders will rest in the market this week – unless I announce otherwise.
Stay calm and keep strong.
Tom
UPDATE ON FX ORDER
I was not filled in EUR NZD. It was within 15 pips, and then the market rallied 200 pips. I feel good about having orders resting. It is a much calmer way of trading.
The EUR JPY was filled and was well in profit, but was stopped out at breakeven.
The other orders are not filled, and I am deleting them now, and I will replace them with new orders in about 12 hours.
Thank you.
Good morning,
I have enclosed my FX orders below. All entries are attempts to capture a retracement in the direction of the perceived trend on the weekly chart. It comes under philosophy that you "fade the short-term trend (the trend on the smaller time frame), in the direction of the long-term trend (the trend on the higher time frame). Here I have looked at the weekly chart, and then zoomed into the hourly and 4-hourly chart to find places I want to enter.
DAY TRADING
If you are interested in seeing my intra-day signals in stock indices, then send me a message to @tomhougaard
SCAMS
There are MANY people impersonating me. You can go to my website and see examples of the current and past scammers: https://tradertom.com/resource/scam-warning/
One overriding principle in deciding if you are dealing with the real Tom Hougaard is as follows:
Is the person you are talking to trying to sell you anything, such as an investment scheme, or promising to multiply your trading account/money very rapidly, then you can be 100% certain that you are NOT talking to the real Tom Hougaard.
I do not offer a paid for signal service, nor do I offer investment schemes or promise to make you a lot of money in 24 hours.
ORDERS IN PLACE - UNTIL CANCELLED OR FILLED
EUR NZD = LONG
Currently = 1.7140
Entry long = 1.6954
Stop loss = 80 points
EUR CAD = LONG
Currently = 1.4465
Entry long = 1.4400
Stop loss = 40 points
EUR JPY = LONG
Currently = 144.50
Entry long = 143.25
Stop loss = 40 points
GBP AUD = LONG
Currently = 1.7815
Entry long = 1.7685
Stop loss = 80 points
Have a lovely week ahead
Tom Hougaard ❤️
The sad but factual truth is that the two other orders were stopped out because I moved the stop loss too close, and now they are 800 pips in profit combined... live and learn :)))
Status for the month coming shortly.. no open trades no open orders...
Thank you for the month,... see you tomorrow..
Good morning,
I will input my orders and post there here over the next few hours.
I wanted to give you a few words before today starts.
Try not to panic or feel you are missing the boat - just because the markets are incredibly volatile. Trade today like you would trade any other day. It is business as usual. Whether the market should have rallied because of the UBS deal or not is inconsequential. Deal with what is. Try not to think "oh my God, DAX is down 200 points already". Think instead "wait for the right signal, and if it comes, go for it" Otherwise, stay out.
Men lose their heads in the crowd, and only regains it in solitude. The market is rattled. Funds are issuing margin calls. Bond investors are left with nothing. There is plenty of things to digest. I appreciate it, but stay calm. You don't have to be part of the unrest. You can step aside, and be 100% sure that the market will also be here tomorrow. I guarantee it.
The movements are big, and subconsciously you feel you should be with them. You feel left out. You see Nasdaq move 200 points and you extrapolate. That is what our minds do. Fight it. Be conscious. Be mindful. Be here. If you walk away tonight with one decent trade, you are better off than you were before. And you can tell yourself that you have lived through a panic.
I have lived through the panic of September 2001, October 2002, September 2008, and Feb 2009, the summer of 2015, the panic of 2016, the panic of March 2020, and they all have one thing in common: keep your wits about you, and you will find an opportunity to make a good entry. Do not force it. Wait. Be patient. If you didn't trade today, it will feel strange. However, in 10 years time, when you look back, do you think you will remember that you didn't trade on this day? No, you will not. But you might remember if you blew your account, because you were chasing a volatile bear trend. You might remember if you make that perfect trade.
All the panics I have lived through, I tell you this. My emotions detach themselves from my head and my heart is pounding and wants to get in there. This is an opportunity to learn about yourself. Observe yourself and how you act when the whole financial system is clearly losing theirs.
Stay calm. Be patient.
Good morning,
A full FX report will follow later.
I am filled on my long order in Euro Yen, which is currently plus 115 points.
Good morning,
None of my orders are filled. My trend analysis is spot on, but we have had no retracement. Breakout orders would have been better, but hindsight is a wonderful thing to ponder upon, but entirely useless in the real world. I will leave orders, but I will review the situation later this trading day.
Have a lovely day.
Tom
GOOD MORNING
There are 3 unfilled orders in play. They will remain for now. A more comprehensive report will come in 2 hours.
It is quite painful to see where the pairs are now, and having moved stop loss up to protect the position.
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