I’ve Heard This Question At Least 1,000 Times…So Here’s The Answer

We rang the register a couple times in
FX markets overnight. One day per week like this would make any fund manager
quite happy, but we’re getting spoiled by favorable conditions offering up fat
profits in foreign currencies more days than not!

EUR/USD (+$10
per pip)

Euros continued their sideways, fuzzy behavior.
I haven’t tried to play this symbol lately, and see nothing in its chart that
would compel me to search for any setups now. Let the EUR sort out some
indecision and we’ll get back to it later this week.

GBP/USD (+$10
per pip)

British Pound long play off 7860 ahead of FOMC
event (explained in this section Monday night) walked its way beyond +100 pips
overnight and again during the U.S. session today. Nice play. Worked to
perfection. Had it failed, we also have a high-odds entry tactic for post econ
news events as well.

I see 7880 level as next long trade setup
overnight. A pull back there has potential to bounce favorably by Thursday

USD/CHF (+$8
per pip)

Swiss Franc is also at a sell trigger near 2580
at this time. Also “set & forget” thru the overnight session ahead.

USD/JPY (+$9
per pip)

The Yen broke its wedge that we drew in this
forum last night, pulled right back up to kiss former wedge support now turned
resistance and dropped dead from there. The entry setup came early in the
evening on Wednesday, ideal time for U.S. and many non-U.S. traders to spot and
act upon.

Short from 111.80 eventually ran +130 pips or
nearly +$1,200 per FX contract traded. Not bad for an evening’s “work” indeed.

No new potential setups of interest to me in
the Yen by press time here. Need to see some consolidation of this surge move

{Price levels posted in charts above are
compiled from a number of different measurements. Over the course of time we
will see these varying levels magnetize = repel price action consistently}

Email Of The Day

Each day we’ll answer one (or two) emails from readers in this
section. Today’s question is more of a collective statement / mindset I receive
from aspiring traders everywhere. The general statement is that beginning and
intermediate traders commonly believe they cannot afford quality educational
materials because their trading account balance is too small. Once they are able
to pad said account with profits, these traders will then invest some proceeds
into educational products.

I’ve heard = read this “logic” from traders at
least 1,000 times over the years. My reply is always the same: unless one is
trading a sound methodology correctly, there will never be any profits realized
to invest. Period.

Just because it is possible to open a trade
account one day and add profits to it the next does not mean that such an
act is probable. Trading real money in real time without a valid method or
system is sheer failure waiting for fruition of ruin. There is no possible way
to base or build a trading career without very solid trading methods – systems
from day one.

Any trader who thinks = feels they do not have
enough money to trade with and learn how to trade with at the onset, absolutely
should not be trading anything. I cannot state that emphatically enough. For the
sake of each trader and everyone in their life who depends on them financially,
it is pure fiscal suicide to try dunking & plunking one’s way to success in our

Paltry Price

This week I read a trading newsletter where the USDJPY was reviewed
as a long trade entry near 112.20 on what appeared to be trendline resistance
breakout. The newsletter author reported in his video that he took that specific
long trade and was stopped out for loss soon afterwards.

By sheer coincidence I had just looked at the
USDJPY myself, albeit in slightly different timeframe chart. The price
measurement tools I rely on strongly suggested to SHORT the JPY
near 112.20 instead of buying it. As time eventually proved, that was the top of
our wedge pattern shown above. Price action confirmed downside breakout – test
near 111.80 and our trade went profitable, big-time.

If I didn’t have effective trading tools for
the FX today, my own performance in that scenario may have turned out quite
differently. Perhaps I’d have taken that failed long trade (no big deal, just
part of trading) but more importantly I would have certainly missed the
high-odds warning signal not to buy that symbol after seeing what I saw.
Instead, we figured & predicted the wedge would break inside of two days as it

The trade methods I use this minute took
several people years of development and tens of thousands lost capital = missed
profits in along the way. Anyone who thinks the cost of quality information is
high only need sponsor price of experience in live market action to learn the
truth for themselves.

My advice to everyone & anyone working towards
consistent trading success: seek out and get your hands on several trade methods
= systems that appeal to you sense of reason, not emotions. If the offer seems
valid and without hype, consider investing in it. I’ve spent a small collective
fortune on information thru my career, and any trading success I have now / into
the future is squarely attributable to that.

Can’t Afford Not To

Our educational package to trade the FX, eminis (or just about anything else) is
$495 U.S. complete. The GBP trade profiled in here ahead of FOMC meeting Tuesday
was twice that cost per single contract. The USDJPY short off wedge break was
about three times the cost of our entire method package alone. Both of those
trade setups were listed in the past two sections here, and I predict plenty
more such examples will be posted in the future straight ahead.

I really don’t care who buys my material or any
other information packages out there. Whatever you do, please find a trade
method or system that works. Take the necessary time to learn its basics, and
only then add some personal twists & tweaks to suit your individual style. NEVER
look upon your education in this profession as a cost or expense… it is an
investment you cannot afford to miss!

Trade To Win

Austin P


Austin Passamonte is a full-time
professional trader who specializes in E-mini stock index futures, equity
options and commodity markets.

Mr. Passamonte’s trading approach uses proprietary chart patterns found on an
intraday basis. Austin trades privately in the Finger Lakes region of New York.