How Does a Pro Trader Actually Trade?

Nial Fuller's recently article "How Does a Pro Trader Actually Trade?", provides a very insightful synopsis of what pro trading is all about. If you are new to the world Forex, or to trading in general, you should probably check out this article as it really discusses some points that most people simply do not consider when they being trading the markets.

Nial Fuller really does a good job of explaining his insights into the world of an experienced trader, it is quite apparent that he has been around the proverbial block for quite some time now and really knows what he is talking about. I look forward to his trading articles each week as they have really helped me in all aspects of my trading; from the strategy aspect to the emotional aspect.

The Fakey Setup

Here is a cool video on the fakey setup by Nial Fuller, it talks about how to trade the fakey: (click one of the links for the video)

"The fakey setup I traded in this video is a contrarian approach to the markets. While we are trading a contrarian setup we still want to trade the forex fakey in the direction of the dominant trend. Essentially we wait for a false break to occur and then trade back in the direction of the existing trend.

The reason the fakey is contrarian is because you are basically doing the opposite of what most other traders are doing. Instead of trading the obvious looking breakout as most amateurs do, when trading the fakey you wait for the breakout and then take a trade in the opposite direction but WITH the dominate higher time frame trend."

Pin Bars Working Great Lately

Pin bar setups have been working very good lately on the daily and 4hr charts. I have recently noticed and taken some excellent pin bar trades on the GBPUSD, USDCAD, EURJPY, CADJPY, and GBJPY. There have been some other ones too, but these are the ones I remember. I think it seems like if you take pin bars in the midst of an obvious directionally-biased market, they seem to work quite well.