THIS PAGE IS UPDATED AT WEEKENDS & AT THE END OF EACH MONTH:
FLASH TRADES (FLA):
OVERVIEW: These are “AT MARKET” opportunist trades based upon the current market pricing, for a specific potential profit opportunity. Usually a “DAY TRADE” that I am looking to develop into a SWING TRADE.
TYPICAL FX PAIRS TRADED: No exceptions.
TRADER SUTABILITY: Traders who are 100% close to their trading screens. Full-Time traders.
PROJECTED TRADE TIME-FRAME: Very short-term usually from 5 -30 minutes maximum. But this can drift to hours, maybe a day or two if volatility dries up.
ENTRY & EXIT GUIDELINES: Via twitter @weeklyfxpremium. These are opportunist trades and cannot be predicted in most cases unless they are anticipated ahead of major news events.
RISK / POSITION SIZES: Single trades with trade sizes of 50%-100% of my RISK tolerance limit. Looking for gains of 30-50 pips based upon directional / momentum moves.
STOP LOSS LEVELS: These would usually be between 30-50 pips based off either previous levels of support and resistance or a close Fibonacci level. However, should the trade develop trend and momentum and maybe possibly have the opportunity to become a SWING TRADE, I would protect some profits and stretch my target price objective.
TRADE MANAGEMENT: I normally do NOT have multiple trades in operation with FLASH TRADES, as they are opportunist trades, for this reason they are NOT planned in advance, they are more based on inter-day market opportunities.
HISTORY, PRESENT DAY, and FUTURE THOUGHTS:
When I first started trading everything was a FLASH TRADE. As time has progressed and my trading style refined, my reliance on this style has diminished to almost zero. I no longer want to trade inside the “noise”, and I am not a trader around news events.
Moving forward, this trade style will remain an option BUT its use will be very, very infrequent. I will target a nominal “pip objective” for a year via my TRADING PIP PROJECTION but my focus lies elsewhere.
Any trades made with this trade style will be purely opportunist if I am sitting at my screens and I have a huge directional trade conviction that I see a short-term gain to benefit from, I will trade.