hello traders its a samurai trade hear welcome to this short recording I just
want to do a quick update mainly frame members on the bricks decision what does
it really mean to us as day traders and how do we trade this market where do we
go from here what's going to happen over next week or so well a lot of these
questions of course I have no idea what's going to happen but I'm just
going to show you a couple of trades i took this morning and why so it is
Monday morning down under here in Australia and of course it's very early
morning evening in should say evening in that in London and it's Sunday afternoon
Sunday evening in the USA so we're not seeing a lot of action at the moment in
the markets but before we get into that of course particularly in the took these
uncertain times you need to understand the risk of trading for those members
you see this on every video of course if you're new to trading or if you need to
one of my videos please read the statement very very important so a
couple of really important things is how do we trade these volatile markets well
we saw last Thursday Friday of course extreme volatility normally during the
globex session and leading into the London sessions let me get this out
right session I would trade the 233 volume chart and it works really well or
I might be trading say a 133 tick chart or maybe a 1 to 3 minute time-based chart
we saw extreme moves and it was virtually impossible to trade at that
level so you would jump up I'd recommend to at least 1,000 volume to a 1500
volume and up to a 550 tick chart because what we saw was in the 24 hour period
over 4 million us ES contracts trade hands so massive volume going through
and in fact in my opinion it was virtually untreatable I fired off a
couple of trades some of their members are
very very well made a lot of money a lot of money out of the markets are Thursday
Friday for me I like to be able to place my trades more strategically and so it
just I just didn't feel comfortable with some of the trading I prefer to slow
down so for an example right now the markets slow but you're getting some
violent moves which will have a quick look at in a moment but a couple of
really important points here George Soros who many of you know is very very
famous back in 1992 he made 1.5 billion pounds from the bank of england and
basically caused the Bank of England to fall to its knees so he's no stranger
when it comes to the trading the pound now have recent times he's been buying
gold options and heavily investing in gold and and shorting stocks he saw this
coming along and what he's basically saying is that many people a lot of
people are going to make a lot of money out of this we don't know how much but
of course he's short of a dollar but should save the pound so he's probably
make picked up another one or two billion over the last few days but he's
very very concerned that if Great Britain leaves the EU which is looking
like it is at the moment of course there's another vote on the way
potentially that it could just mean just massive problems for Britain so over the
next week or so we could see some incredible volatility and and it could
go on for a period of time if we see that another vote comes in it's going to
be a lot of uncertainty of course we have seen Scotland talking about
blocking and legal action and so I mean it's all over place so the big thing
here traders right now is to be extremely cautious so make sure that
you're checking for any major red flag news announcements now now normally of
course news announcements are announced on forex com and not forex Tacoma should
say yum oh gee whiz i'm trying to get so many things out i forgot the name for
ex-factory calm and there's a lot of other sites
however because there's so much happening here a lot of these
announcements will come out and press conferences without even being on this
site so you've got to be extremely cautious and even if you put a stop in
some of your stops will be run straight through so expect big slippage so what
I'm saying is to be extremely cautious you'll need to increase time frames etc
now if we then go and have a look at a couple of things here I fired off just a
couple of trades here and at the moment the markets it's 9am here in Australia
the markets moving fairly slowly at the moment but it had some violent move so I
just took a quick scalped here we can actually let me just go and get my
yellow pointer up too quick scalp here for six ticks at 750 I then went to go
long now one can say okay yeah crazy thing look everything's heading down
look we've had a big gap down traders so and I know it's extraordinary times we
can see where to get down price action had leveled out you can see here i had a
little double bottom my long-term stocks started to rise i was above the zero
line and once again you miss one hundred percent of the shots you don't take so i
had an extra wide stock stop rather than six ticks i had an 8 ticks top it went straight
through it was stalling here for a couple of minutes went through stopped
me out i thought okay well once again i rolled the dice i was wrong so that cost
around one hundred dollars a contract a thousand dollars I then fired off a
couple of shorts here I was targeting the law of a day so I had done one lot
right at the law of the day and I then shorted again for 1 tick below below of a
day and basically on a t25 just there and that's good so I'm up about 1100 or
110 a contract we then had a nice t20 and if we just look at what's happening
right now we can see here great t3 another nice t3 basically a two hundred
bands you've got once again t20 at t20 all of these are winners
if you had if if I had have kept trading here but on preparing some Q&A videos
for clients so also for members i should say so i went to any more trading for a
couple more hours and even then i'm going to be very very cautious because
some of the follow through on these Candles was very quick and violent and
that is what you've got to really watch now if we go and have a look at what's
happening on the forex market what I've done here is rather than have my range
charts up which i like to use because there's so much movement we wouldn't fit
all of this on on the on the recording here on the screen so on the Left we've
got the pound USD we can see up here it's a little hard for you to see let me
just move is for you we can see a big gap down one of the reasons I traded the
the earlier was the gap down in a double bottom and as I mentioned it went
straight through and we can see here because usually very high percentage you
get these gaps will fill however of course we've got extraordinary times
right now so we can see this big get down on the pound USD we're on the three
minute chart here who knows what's going to happen we don't have any signals here
at all as you can see here the long term Stokes in the middle of a window so it's
look it's just the time to be sitting on your hands all that's what I would do if
I was trading Forex now on the other hand if we look of the euro dollar we're
looking at a three minute chart here we can see we had a big gap down and it's
filling the gap okay so we can see the pound is the one that's clearly in
trouble here the euro dollar is fearing really well it sits on the increase
you've had a t20 you so you've got some trading opportunities you've got a t10
down here at t20 so there's lots of trading happening however with that
being said you just don't know when if there's a major news announcement or if
the politicians gotta get in there who knows what's going to happen so what I'm
really saying here traders is just be extremely cautious with trading
and there's nothing wrong with just sitting on your hands for a couple of
days and just waiting and see what happens I know some of the experienced
traders are going to make a small fortune out of the trading over next
week or so as they did it late last week as I mentioned earlier some of our
traders have made a lot of money last Thursday Friday was the killing field
for poor amateurs but some of the pros did very very well so in summary just be
very cautious consider if you're trading globex are on the future side to
increasing the timeframe that you're trading so what traders i hope this was
helpful to you please subscribe if you're a new viewer please subscribe to
my channel go to my website for my ebook and for further information about the
day traders fast-track program and for my members please drop me an email if
you wish and i'm posting some new Q&A videos up today and a recording on the
t3 so the t3 recording will be posted today thank you traders