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BY <a href=”http://www.rdstrader.com”>MICHAEL RADKAY</a>

Is it me or is this sign an oxymoron? A job is right, but isn’t a job the direct result of capitalism? Both company and employee seek a profit and the money earned is used to buy the things that all parties want and need. I do understand the motivation behind the sign as it seems our capitalist society is in need of an overhaul these days. I still believe capitalism works but it takes two to tango and both sides need to open the doors again. Banks need to start lending that “gift money” (sorry – quantitative easing aid) and businesses and employees need to follow through on their commitments.
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I don’t blame the protesters for their anger at the system because obviously they are looking for a job and it seems that things these days are weighted too heavily in favor of the banks. The act of gathering peacefully while bringing a solid clear and precise message however is also a great bi-product of our way of life. The money earned in a capitalist structure has afforded us to build a country that can protect and base itself on freedom.

At least it seems in this case that citizens can demonstrate peacefully for the most part and I hope Washington is hearing the shouts and footsteps as they need to show leadership for the betterment of all involved, not just a select few. Using your freedom to protest and freedom of speech is our right and I am a firm believer that if you have something to say, “say it”, if you have something to shout; “shout it” and if you have something to do; “do it”. My  problem with this photo is that at this moment the writers of this sign are nowhere to be found in this picture? This sign needs a live face all of the time; not just part-time, otherwise it has the same effect as a text message or a resume placed on a stack of others without introducing yourself to the person collecting them and offering the job.

I have given some thought to a solution for the sign maker.  First of all you have skills. You don’t need to occupy wall street; you need to occupy your mind and use the energy you applied to this sign and this protest and focus it on how to best utilize your abilities to land the job you seek. As an educator and motivator I try and help students fulfill their goals and my message to my students is not much different to you. I just become the facilitator to help you see your skills and place you in an area that suits you best. You have the ability to create a buzz and companies love that! With your protest you received free media coverage from all of the major networks and social media outlets; brilliant!! You also have the ability to make signs and slogans to deliver a message. But this picture just looks to me like somebody who got tired of standing in the rain and placed the sign on the ground in hopes that somebody would still get the message and solve your problem. You are never going to get a job that way.

You just are in need of a few follow through skills. Since you have a knack to create a buzz and can make signs and write slogans, I have provided you with a list of sign making companies in the lower Manhattan area (since you are there) that just may want to hire you. Just make sure you are present this time, when the photo shoot comes calling your name. Also; never, never forget to leave a contact number or email on your sign so the company can get in touch, when they hire you.  I’m still bullish the U.S.!!

Here are a list of sign making companies:

A A Awning & Sign
Tel: 212 226 9828171 Bowery
New York NY 10002

Artshne Sign and Supply
Tel: 212 965 818496 Allen Street
New York NY 10002

Chung Wah Sign & Store Inc
Tel: 212 995 795666 Delancey Street
New York NY 10002

Concept Sign Incorporated
Tel: 212 966 108137 Allen Street
New York NY 10002

FedEx Office Print & Ship Center
Tel: 212 228 951121 Astor Place
New York NY 10003

FedEx Office Ship Center
Tel: 212 614 8915125 5th Avenue
New York NY 10003

FedEx World Service Center
Tel: 800 463 333920 E 20th St Grd Fl
New York NY 10003

Fortune Line Trading
Tel: 212 334 826525 Essex Street
New York NY 10002

Gilbey Graphics & Di
Tel: 212 608 4131900 Broadway
New York NY 10003

Hong Qi Sign Corp
Tel: 212 966 318895 Allen Street 1
New York NY 10002

Always Neon Inc
Tel: 212 388 987666 Delancey Street
New York NY 10002

Bowery Sign Production & Supply Inc
Tel: 212 995 1395187 Bowery
New York NY 10002

Concept Sign Inc
Tel: 212 966 108184 Hester Street
New York NY 10002

Creative Signs and Awnings
Tel: 212 625 172655 Delancey Street 1
New York NY 10002

FedEx Office Print & Ship Center
Tel: 212 253 9020250 E Houston Street
New York NY 10002

FedEx Office Ship Center
Tel: 212 353 38604 Union Square E
New York NY 10003

First Signs Co
Tel: 212 966 069071 Eldridge Street
New York NY 10002

Fu Sunsign Construction Co
Tel: 212 941 952074 Canal Street
New York NY 10002

Hester Signs Inc
Tel: 212 625 928923 Orchard Street
New York NY 10002

Hong Qi Sign Corporation
Tel: 212 966 3188101 Allen Street
New York NY 10002

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“Trading is a great equalizer. You don’t have to hold a PhD or an MBA to trade for a living. There are traders who are consistently successful, year after year. Nobody can stop you if you put your mind to it.” – Ed Ponsi

Hello:

Unfortunately, normal business rules don’t apply to successful trading. A top banker once told me that one of the aims of the banking industry is to maximize profits. Well, this is wrong in trading: one of the aims of successful trading is to minimize risk by safe position sizing. Trying to maximize risk in trading, using big position sizing, is like trying to maximize one’s chances of financial disaster. Irrespective of how great you’re in other professions, the financial markets have their own peculiar principles – and each trader would learn the principles, whether through their own experience or through others’ experience. Those who implement sagacious business methods in other professions successfully may discover that errors would be committed and negativity would be sustained in trading. This is sure. It helps to be constantly aware of one’s limitations and never overreact should negativity be sustained. Make your aims modest whenever you’re trading. You must be realistic, targeting small and consistent profits. You’d survive on a long-term basis only if you risk as low as possible. If you keep your risk low, you’ll be a victor.

Below is the summary of some of my trading activities this week.

AUDUSD
Primary Trend: Bearish
This week, the AUDUSD pair experienced a temporary bullish rally in the context of a downtrend. This kind of price movement provided swing traders with an opportunity to sell higher.

NZDUSD
Primary trend: Bearish
What’s happened on the AUDUSD is also true of the NZDUSD. You should’ve sold short to a novice trader who bought after a bullish correction in price and in the context of a downtrend. Yes, both the AUDUSD and the NZDUSD are positively correlated. But sometimes, correlation fails when you’re counting on it the most.

AUDNZD
Primary trend: Bearish
Since the Kiwi and the Aussie are similarly correlated right now, the AUDNZD is in a ranging mode. On this cross, the forces of supply and demand must go out of balance for the price to stop ranging. It’s good to stay out of this market and wait for the next major move.

EURCAD
Primary trend: Bearish
The primary bearish outlook on this instrument has been seriously violated. If there’s a continuation of the present scenario for a few more days, the primary trend would turn bullish. There’s been a northward breakout from the consolidation that started last week – something that may result in a big move. At the present, I’ve 200 pips from this breakout, plus the risk on the trade was removed by a breakeven. Big moves in one market amplify correlation between other markets, and vice versa.

EURNZD
Primary trend: Bearish
In this market, the long-term bearish trend seems to have been rendered invalid. But the domination of the bulls must continue for a few more days before the primary trend turns bullish. The price is above the SMA 200, while the SMA 50 is attempting to cross the SMA 200 to the upside. The ADX 20 fell below the level 30 as a result of a previous correction, but now points towards the level 30. +DI remains above –DI, pointing upwards as well. This signifies a rising bullish pressure.

GBPCHF
Primary trend: Bullish
The price of the GBPCHF is trying to pull back, though the underlying trend is bullish. With this view, the price movement is still range bound. One way of handling this situation is to buy a pullback, more preferably at a strong support level. Yet, market conditions remain uncertain.

Conclusion: Millions of people the world over have chosen the business of trading as a new career. It just happened that they ultimately ended up in this exciting industry. Ken Long is one of such people. He added trading to his other careers. He’s now a market wizard and a blessing to those who’re willing to learn from him. Please let me conclude this article with some quotes from him. They have to do with trading facts.

1. “A short-term trader who has plenty of opportunities is better off taking five positions at 1% risk per position than a single position at 5% risk no matter how he decides to rank order the signals by quality.”

2. “The greater the number of trials in the sample size, the greater your chance of achieving the average expected return of a positive expectancy system. There is a natural tendency among traders to try to concentrate their capital on what they consider to be the best trade available. However, if your system is generating multiple signals, you are better off taking all of the signals at reduced risk, provided that you have done your back-testing work and admin costs of trading are low.”

Your questions and opinions are highly welcome.

Thank you.

With best regards,

Azeez Mustapha

Forex Signals Strategist, Funds Manager &Coach

Email: amustapha@fxinstructor.com

Get my Forex trading signals at: http://www.fxinstructor.com/en/analytics/ituglobal

And my past articles are also available at: www.ituglobalforex.blogspot.com

Yahoo! Messenger ID: saazalmu

If you want my coming trading articles delivered directly into your inbox (I don’t support spamming in any way), you can send me an email titled “Request for Trading Articles.”

NB: There is risk of loss in trading, but it is possible to be a successful trader.

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EURUSD Forecast
The EURUSD made another upside attempt yesterday slipped above 1.3650 but again, couldn’t maintain the bullish momentum and now testing 1.3520 support area. As you can see on the red box area on my hourly chart below price has been moving sideways between 1.3650 – 1.3520 in the last three days. The bias remains neutral in nearest term. We need a clear break from the range area to see clearer intraday direction. Although my short term technical bias shows a bearish pressure, actually the breakout above the range has more significant impact to broader outlook as a clear break above 1.3650/80 and consistent movement above the falling wedge could trigger further significant bullish correction while on the other hand a break below the range doesn’t automatically cancel the falling wedge bullish pullback warning. A clear break below 1.3520 could trigger further bearish intraday pressure testing 1.3480 even 1.3400 area. Inconsistent momentum, unclear intraday direction and potential difficult Friday trading are more than enough to keep me out from the market for now.

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EURJPY Forecast
The EURJPY attempted to push higher yesterday after break above the bullish flag as you can see on my hourly chart below, topped at 104.91 but traded lower earlier today in Asian session hit 103.56. The bias is neutral in nearest term with potential daily range to be closely watch between 104.95 – 103.30. My major bearish technical outlook remains intact but unless price breaks below 102.20 we are still in a bullish correction phase. A clear break below 103.30 could trigger further bearish pressure testing 102.20 while on the other hand a clear break above 104.95 could continue the bullish correction scenario testing 106.57.

GBPJPY  Forecast
The GBPJPY attempted to push higher yesterday, slipped above 120.65 but closed lower at 119.75 and hit 119.27 earlier today in Asian session. On my hourly chart below we can see price is now retesting the lower line of the bullish channel. A clear break below the bullish channel could trigger further bearish pressure testing 118.80/35 area which could end the current bullish correction phase. Immediate resistance is seen around 119.77 (current high). A failure to make a clear break below the bullish channel and a clear break back above 119.77 area would keep the bullish correction phase strong retesting 120.65 even higher.

AUDUSD Forecast
The AUDUSD attempted to push higher yesterday, topped at 0.9877 but closed lower at 0.9773. The bias is neutral in nearest term. On my h4 chart below we can see price has been trapped in range area of 0.9975 – 0.9700 in the last three days. A wide range of almost 300 pips but we have to wait for a clear break from the range area to see clearer direction. Immediate resistance is seen around 0.9810. A clear break back above that area could trigger further bullish pressure testing 0.9877 – 0.9900. On the downside, a clear break and daily close below 0.9700 could continue the major bearish reversal outlook since the fall from the all time high, testing 0.9400 area.

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GBPUSD  Forecast
The GBPUSD attempted to push higher yesterday, topped at 1.5714 but further bullish pressure was rejected, closed lower at 1.5608 and hit 1.5582 earlier today in Asian session. On my h4 chart below we can see price has been moving sideways in the last three days without consistent direction and momentum. The bias is neutral in nearest term. The triple bottom bullish pullback scenario remains intact but need a clear break above 1.5750 to continue the bullish correction scenario. Immediate support is seen around 1.5540. A clear break below that area could trigger further bearish pressure testing 1.5490. A clear break below 1.5490 could be a serious threat to the triple bottom bullish scenario which potentially end the current bullish correction phase.

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USDJPY Forecast
The USDJPY didn’t make significant movement yesterday. Not only price has been trapped in range area of 77.80 – 76.21 for almost seven weeks now, but we haven’t seen a single convincing momentum/direction this week, and we probably will see another Doji on weekly chart. Aggressive intraday traders can still take advantage of the current sideways movement by long around 76.21 with a tight stop loss.

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USDCHF Forecast
The USDCHF didn’t make significant movement yesterday. On my hourly chart below we can see price has been moving sideways up and down about 100 pips in the last three days between 0.9020 – 0.8915. The bias remains neutral in nearest term and needs a clear break from the range area to see clearer intraday direction. A clear break above 0.9020 and the minor trend line resistance (white) could trigger further bullish pressure testing 0.9080 – 0.9100 area. On the other hand, a clear break below 0.8915 could trigger further bearish correction testing 0.8850. My major technical bias remains to the upside and any downside movement now should be seen as a corrective movement.