THE MAGIC TRADING PORTFOLIO: ***Friday October 10th*** $CAD employment #'s out --> ***PORTFOLIO -> ***REVIEW -> $USDCAD $NZDUSD $AUDUSD $GBPUSD $EURUSD

General Notes:
Been trading very poorly this month and so i must revert back to my $100 risk amount that i was doing so well with. Seems changing the risk amount made my focus change. So now i must reset myself back and start fresh. I am adding some additional information to each currency pairs section to keep my focus on target. Some EURO news out with Draghi making the $EURUSD look as if it wants to continue it's down trend. I've posted reviews of the trades I have lost money on with lessons to be learned. I will also be making some adjustments to the trades I take. After reviewing my trades, I've noticed the vast majority of them were counter trend trades. I will be making a serious effort to trade more with the trend this coming month as I know the results will be much better than this months. My path to millions will all be documented here, trade by trade. One day family, friends and my children will look through the pages of this blog and see what it took to be successful at trading! I am pumped and have been trading better then ever lately. Starting small and will eventually get bigger and bigger, all while training my mind to get used to risking more and more! Love this game!

Follow me on Instagram at Forex_Guy http://instagram.com/forex_guy

Market Movers October 6th - 10th:
Click here for the Week Ahead -> Oct 6 - 10, 2014 Market Movers

The Magic Trading Portfolio's Position Sizing:

Currencies --> Risking only $100 per trade. As my risk tolerance gets larger, I will slowly start increasing my risk amount. This is how you become a consistently profitable trader.

You can follow, learn & PROFIT from The Magic Portfolio by following the members only @MagicAlerts on Twitter. I'll be sharing my thoughts on the markets, providing video lessons on trading Supply & Demand and also be sharing with followers some very exclusive stuff. You'll have to follow to find out what. I am mapping out Institutional Demand & Supply. Do your own DD and use the info whatever way you see fit. Welcome to The Magic Trading Portfolio!

How to keep updated with the blog? I tweet updates to The Magic Trading Portfolio all day live, my advice is if you have an iphone etc, turn notifications on for my account @magikev to get the updates to the portfolio. If you missed an update, just come to the blog and check on the right side where the twitter feed is located and go through the feed to see what updates you may have missed. Otherwise, subscribe to the email updates and receive them in your inbox.

Magic Ingredient:
If there is any one thing that has added more to my success than anything else, it is understanding how important it is to time the market with your trades. The key to my strategy is to time the $USD's GREEN and RED zones with the GREEN and RED zones from the setups. If they are both entering their same colored zones at around the same time then the probability of the setup working out is highest. Otherwise, currencies need to be trending upwards to take entry of setups in the GREEN zones or currencies needs to be trending downwards to take entry of setups in the RED zones.
SHADED GREEN ZONES = Strong Buy Zones

SHADED RED ZONES = Strong Sell Zones

Markets Overview (The Big Picture):

Take note of the GREEN demand zones and RED supply zones mapped out below. These are the areas of interest for me because this is where there is a great deal of demand to fill buy orders and supply to fill sell orders from the institutions.

$USD Overview (Weekly Chart)
Perception of Monetary Standing: HAWKISH => NUETRAL
--> $USD broke through weekly supply, there is nothing much stopping this from going higher now.

$USD Overview (Daily Chart)

-->

Economic Data October 9 update:

Currencies:

The Million Dollar Strategy:

Chart Setup --> Chart has an 89 period EMA and an 8 period EMA, RSI indicator of 60 overbought and 40 oversold.

Buying or Selling when price enters a 240 minute area of demand/supply outlined by the green zone/red zone. First target will be opposing 240 min supply zone/demand zone and the opposing daily or weekly supply zone/demand zone.

Perception of Monetary Standing (courtesy of DailyFX):

$USDCAD -> Commitment Of Traders Report: Institutional traders are LONG biased. (09/30/14)

Increased <== LONG -> 37k SHORT -> 33K ==> Increased

Perception of Monetary Standing: DOVISH
Notes: Weekly supply has been hit and seems to be getting weaker. Idea is that price will break up to new highs and head to weekly supply at 1.16000.
THE SETUP ==> Tried a quick scalp and got out too early. Amateur move.
Trade Review => Click to Review

$AUDUSD -> Commitment Of Traders Report: Institutional traders are SHORT biased. (09/30/14)

Decreased <== LONG -> 43k SHORT -> 45K ==> Increased

Perception of Monetary Standing: DOVISH
Notes: The Aussie hit weekly demand that is not authentic but fresh so this level should not hold, it rallied up into daily supply and is now dropping. Price should drop and break through the weekly demand zone area and head to at least daily demand at 0.84000.

THE SETUP ==>

$USDCHF -> Commitment Of Traders Report: Institutional traders are LONG biased. (09/30/14)

Increased <== LONG -> 24k SHORT -> 11K ==> Increased

Perception of Monetary Standing: NUETRAL
Notes: Fresh weekly supply is at 1.00950 and price hit fresh but not authentic daily supply so would expect price to continue higher. Just hit some daily demand and should be heading higher.

THE SETUP ==>

$EURUSD -> Commitment Of Traders Report: Institutional traders are SHORT biased. (09/30/14)

Increased <== LONG -> 67k SHORT -> 204K ==> Increased

Perception of Monetary Standing: DOVISH
Notes: Weekly RBR demand hit and price went higher towards daily supply but is now reacting to Draghi news falling straight from 240 supply. Seems to want back down. Next stop 240 demand at 1.24614.

THE SETUP ==>

$GBPUSD -> Commitment Of Traders Report: Institutional traders are LONG biased. (09/30/14)

Increased <== LONG -> 54k SHORT -> 50K ==> Decreased

Perception of Monetary Standing: HAWKISH
Notes: Might see more upside on the Pound, as it hit Monthly/Weekly/Daily demand zones.

THE SETUP ==>

$NZDUSD -> Commitment Of Traders Report: Institutional traders are NOT biased. (09/30/14)

Increased <== LONG -> 10k SHORT -> 10K ==> Increased

Perception of Monetary Standing: HAWKISH => NUETRAL
Notes: Price has hit weekly supply/previous demand. It's a hidden zone but a zone nonetheless. Idea is to watch price fall back down through the weekly/daily demand it bounced from which is not authentic zones. Price will fall to the 240/daily demand below at the 0.76000 area.

THE SETUP ==>

$USDJPY -> Commitment Of Traders Report: Institutional traders are LONG biased. (09/30/14)
Increased <== LONG -> 150k SHORT -> 29K ==> Increased
Perception of Monetary Standing: DOVISH
Notes: Hit some weekly supply and should be heading down towards daily demand at 107.300.

THE SETUP ==>

$NZDUSD -> Commitment Of Traders Report: Institutional traders are LONG biased. (09/30/14)

Increased <== LONG -> 10k SHORT -> 10K ==> Increased

Notes:

THE SETUP ==> LONG @ 0.79231, Stop @ 0.78855, T1 - 0.79860, T2 - 0.80530
Oct 9 -> Stop hit
Trade Review => Click to review

$AUDUSD -> Commitment Of Traders Report: Institutional traders are LONG biased. (09/30/14)

Decreased <== LONG -> 43k SHORT -> 45K ==> Increased

Notes: Price is breaking through weekly demand zone.

THE SETUP ==> SHORT => 0.87685, Stop @ 0.87700, Target 1 - 0.85990, Target 2 0.85000
October 6 -> Trade Activated
Trade Review ==> click to see review

$EURUSD -> Commitment Of Traders Report: Institutional traders are SHORT biased. (09/30/14)

Increased <== LONG -> 67k SHORT -> 204K ==> Increased

Notes: Price hits weekly/daily/240 demand. Trend change time?

THE SETUP ==> SHORT => 1.26147, Stop @ 1.26360, Target 1 - 1.25705, Target 2 - 1.24255
October 6 -> Trade Activated
October 6 -> Trade Closed
Trade Review ==> Click to see review