Click Here to see photos From the FXCM Expo in Las Vegas!

In December, FX Bootcamp rocked the FXCM Expo.  We had a blast!

A team of 13 FX Bootcamp members volunteered to join me.  They paid their own way, bought their own plane tickets and booked their own hotel rooms… just to help fellow traders.  They spent two full days giving honest feedback about how they trade and what they’ve learned.  I’m sure they helped over 1,000 new traders at this conference.  I hope each is blessed with good trading karma in 2007.  Bravo!

I helped at the booth as much as possible, but I also hosted Non-Farm Payrolls Live at FXstreet.com, did a 5 hour Live Trading Workshop, a 1 hour panel discussion on Exit Strategies, and a 1 hour Tactical Trade Planning Seminar (I’m sorry to the 100+ people who could not get into the room.  FXCM has promised a MUCH bigger room next time.  250 seats were just not enough!  Some people even sat on the floor!).

All and all.  We had a ton of fun.  I’m sure you can tell by the photos! Click Here to see photos From the FXCM Expo in Las Vegas!

Happy New Year

Wayne McDonell - FX Bootcamp, LLC

Click Here to see photos From the FXCM Expo in Las Vegas!

In December, FX Bootcamp rocked the FXCM Expo.  We had a blast!

A team of 13 FX Bootcamp members volunteered to join me.  They paid their own way, bought their own plane tickets and booked their own hotel rooms… just to help fellow traders.  They spent two full days giving honest feedback about how they trade and what they’ve learned.  I’m sure they helped over 1,000 new traders at this conference.  I hope each is blessed with good trading karma in 2007.  Bravo!

I helped at the booth as much as possible, but I also hosted Non-Farm Payrolls Live at FXstreet.com, did a 5 hour Live Trading Workshop, a 1 hour panel discussion on Exit Strategies, and a 1 hour Tactical Trade Planning Seminar (I’m sorry to the 100+ people who could not get into the room.  FXCM has promised a MUCH bigger room next time.  250 seats were just not enough!  Some people even sat on the floor!).

All and all.  We had a ton of fun.  I’m sure you can tell by the photos! Click Here to see photos From the FXCM Expo in Las Vegas!

Happy New Year

Wayne McDonell - FX Bootcamp, LLC

It was a thin forex market today, however the USD had been losing ground all night. Therefore, everything pointed up for the EUR/USD. With such thin forex markets, its best to keep your analysis simple and conservative. A 50% Retracement pointing to a 121.4% Extension is a text book example of forex Fibonacci. Over lapped with Pivot Points, its a conservative forex plan. Live FOREX Training | EVERYDAY! http://www.fxbootcamp.com

The USD is still growning strong. However, today’s CPI could change that. The FED, along with FOREX Traders, are watching for any signs of inflation. Today’s TICS data also could have an impact. In the end, price ended right where you’d expect it to… the M1 Pivot Point. Live FOREX Training | EVERYDAY! http://www.fxbootcamp.com

What a great to trade forex! Everything pointed down for the EUR/USD… Fibs, Pivots, and EMAs. All the stars were aligned for a short trade. Our target was the 138.2% Fibonacci Extension. Guess what? That was also the M1 Pivot Point. Could you have a more perfect trade? Questions is: did you plan your trade and trade your plan? Live FOREX Training | EVERYDAY! http://www.fxbootcamp.com

The FOREX market was pointing down just before the New York open, but it would have been dangerous to short just before Retail Sales data was released. Sure enough, it gave the dollar strength and the EUR/USD fell. Support was estimated at 1.3200 and held several times… even on the retest after a pull back. It was a solid support area, as it was also near the M1 Pivot Point. Live FOREX Training | EVERYDAY! http://www.fxbootcamp.com

The day started with forex USD dollar strength, confirmed with MACD and Stochastic Divergence. Even Fibonacci pointed down. All we had to do is break the Central Pivot Point. Alas, we didn’t and the thin market really exaggerated the response. A triangle gave us a clue about the "fake out", but you don’t know until it happens. Live FOREX Training - EVERYDAY! http://www.fxbootcamp.com

The FOREX market was set up for a short-term reversal. A 1-2-3 Pattern or Inverse Head & Shoulders Pattern was very likely. These forex candlestick patterns are common after a crazy Non-Farm Payrolls release on any large range trading day. Its a way for the forex market to breath and recover. Live FOREX Training | EVERYDAY! http://www.fxbootcamp.com

Today our focus was on the Canadian Dollar. Lots on Loonie news to make it move! The USD/CAD did a short pull back in the Asian session, but fully recovered during the European Session. From there, Fibonnaci ruled the day… Live FOREX Training | Everyday! http://www.fxbootcamp.com

The forex uptrend was still in place, but showing signs of weakness. Retracement is becoming more and more possible. MACD Divergence, rejection at a Reversal Pivot Point, a 61.8% Retracement and a Triangle break eventually all pointed down. Target was the 138.2% Fibonacci Extension which over lapped with a Support Pivot Point. Live FOREX Training | Everyday! http://www.fxbootcamp.com