Forex Speculation?

Have you ever wondered what is meant by the term speculation?It seems to be rather loosely defined. Speculation is the process of selecting investments with high risk in the hopes of making a profit due to price changes. Apparently, if you use that which you purchase, such as consumption of a commodity, or if you purchased something in order to profit from dividends or interest rates, then it...

The ONLY Difference Between Professional Traders and Amateurs Is ...

He's a blog posting from one of my friends on mySpace, Barry. To close the year I couldn't resist posting this for thought!****************************************************Here's a revelation that changed my trading forever:"Successful trading is imply a business of not making mistakes."That has become such a cornerstone to my trading that I actually framed that saying and put it on my wall over...

Forex Trading Made Easy

Are you kidding me? Forex trading isn't easy, it's about as risky a financial endeavor as you can legally participate in.Wait, let me rephrase that... foreign exchange trading is easy, success isn't. Yeah, that's right, that's my tag line. It's true.If you are looking for the easy button, here are some platitudes for you:Buy low and sell high.Have inside access to national economic...

Unplanned Forex Setback

Well, things have gone poorly just lately. Not because of anything that I've been responsible for, but because I was the recipient of an "insufficient funds" check. As the money I was planning to use over the holiday period was rudely removed from my account I was forced to withdraw a large portion of my Forex account.I'm quite peeved!Especially since I had some good in-profit positions...

Result Signal #25

Buy Limit Eur/Usd @ 1.4565, SL @1.4525, TP @1.4630 = 0Buy Stop Eur/Usd @ 1.4645, SL @1.4605, TP @1.4685 = 40 pipsBuy Limit Gbp/Usd @1.9910, SL@1.9860,TP @1.9990 = 80 pips... (TP today was hit)Profit = +120 pipsDecember Total Profit = +80 pipsAccumulate Total Profit = +1096 p...

Are you a forex trader or a gambler?

Here's an article I found in my files. Given the approach of the New Year, now is an excellent time to re-enforce those good trading habits and thoughts ... enjoy!!How many pips do you need to be wealthy? The answer may surprise you. A very common thought and question among us forex traders. Of course this is variable in desires; however it is a good idea to put things into perspective. In...

Forward Test EA Goblin Bipolar

Start from today, I will report my forward test for EA Goblin Bipolar in Eur/Chf, Eur/Gbp, Aud/Usd pairs. This EA based on martingale system which some of trader dislike to use. But in my opinion, martingale is one of good and profitable system if we know how to limit our loss and stick at our money management. Thanks to Bluto, one of the greatest EA coder, for sharing this great EA.This test...

Clarity

Clarity. This is my word, my mission for 2008. I am going (notice I did not say “try to”), let me repeat, I am going to achieve clarity in all aspects of life including my trading. As many of my readers know I had a very eventful 2007. I became a dad for the first time. This has brought a new meaning to life. One that many of my friends have mentioned, but one I truly didn’t understand until...

US Durable Goods / Jobless Claims

The numbers came out weak this morning.While it appears to have caused some initial softness, I think we should keep in mind that a weak US economy gives the Fed additional room to lower interest rates without fears of inflation.So, personally, I might consider buying into weakness...

AUDJPY With Bollinger Bands

Lately I've been trading the AUDJPY using only an EMA (exponential moving average) and SMA (simple moving average). The theory is that when the price is below these averages it will at some point return above it. This is generally true, even during a downturn, but especially so during an upturn.I have been seeing some success with this, but it does have me hanging onto losers for some period...

Signal #26

Buy Limit Eur/Usd @ 1.4565, SL @1.4525, TP @1.4630Buy Stop Eur/Usd @ 1.4645, SL @1.4605, TP @1.4685Buy Limit Gbp/Usd @1.9910, SL@1.9860,TP @1.9990Use your Trailing Stop to keep your profit. I suggest to use TS = 35.Have a nice day! Don't forget this is Friday...

Result Signal #25

Result from signal #25 :Buy Limit Gbp/Usd at 2.0630, SL at 2.0590, TP at 2.0720 = -40 pipsBuy Stop Gbp/Usd at 2.0665, SL at 2.0625, TP at 2.0720 = 0Profit = -40 pipsDecember Total Profit = -40 pipsAccumulate Total Profit = +976 p...

AUDJPY Overnight Upswing

Cool.I'd been getting into the AUDJPY pair during most of the week. Now, most of my small nibbles have been taken out on the way up, at a profit, while I've sunk some larger carry positions about 120 pips below the current price.I like that!Anyway, as you know, it's very hard and dangerous to bottom pick, but if you don't mind accumulating some (manageable) risk, then you can (hopefully)...

Timing Market Entry

I've noticed that the Forex markets move both fast and slow.If you are busy sinking money into some carry positions, the market might suddenly decide to go sideways, or perhaps down, for the next week. So, you go underwater and don't get to lighten your load on subsequent upswings.However, if you are light in the market, a piece of news will drop and leave your jaw on the floor as you miss out...

Theoretical Investment Strategy

I like to think about things, twist them around, and come up with theories.It strikes me, that as long as a market continues to move up and down, such as the AUDJPY, that every time you take a position, you are guaranteed a profitable exit if you are able to wait long enough.This leads to some interesting theoretical strategies if you are using a trading platform that doesn't penalize you in any...

Overnight Trading

As I live in the eastern timezone, I get to trade overnight prior to the NY trading session on the next day.Last night I was able to settle some AUDJPY positions around 96.7, 96.8 or so. At the moment these are nicely profitable while the DOW futures are simultaneously positive.As far as I can tell, the US trading day pushes around the AUDJPY based on stock market movements. By this, I mean...

Weekend Forex Thoughts

Although it is the weekend, I can't help but think about trading.One of the things I've noticed recently is that the EURTRY pair is much less influenced by Wall Street. The DOW is flying all over the place, dragging the AUDJPY and related pairs up and down the charts, while the EURTRY drifts sedately instead.However, a caution, the EURTRY has historically had some very violent and large moves...

AUDJPY Reversals

Wow, what a roller coaster!Yesterday saw a massive downturn, followed by this morning's upturn... and then a slow fade back down during the day.I'm happy to report I was able to recoup my losses from yesterday on the upturn, and then incredibly was lucky enough to unload near the peak. Sweet.As you might understand, I'm a little nervous about committing capital to the market at this point....

Recent Non-Success

Today's fed announcement caught me with an unprotected position. Needless to say, as the floor dropped out of the AUDJPY market, I was given a bit of an unpleasant ride.However, I didn't blow up my account, so hopefully things will settle down and drift towards "the middle" so I can get out without too much pa...

Forex Day Trading System - How does Oil Prices effect Forex market?

Forex Day Trading System - Does Oil Prices effect Forex market?Yes, they truely do..Oil price has good, if not strong, coorelation with the currency pair movement. The movement of oil price in any direction is due to the demand and supply. If the demand of oil is more, the price will increase else otherwise. Since, USA is not a producer of oil, increase in demand will essentially mean that USA...

Signal #25

Buy Limit Gbp/Usd at 2.0630, SL at 2.0590, TP at 2.0720Buy Stop Gbp/Usd at 2.0665, SL at 2.0625, TP at 2.0720Be careful and always use trailing stop. Good luck for ...

Result Signal #24

Result from signal #24 :Sell limit Gbp/Usd at 2.0827, SL at 2.0877, TP at 2.0727 = -50 pipsSell stop Gbp/Usd at 2.0772, SL at 2.0820, TP at 2.0727 = 0Profit = -50 pipsNovember Total Profit = -50 pipsAccumulate Total Profit = +1016 p...

Recent Success

Well, it has been a few days since then, so I can't remember the full details, but I was able to catch an up-trend with a significant amount of my net asset value slipped in.Basically, when an initial foray is in-profit, I'm ready to put in more when the trend seems apparent and things are acting rationally. So, after a few ups and downs, perhaps within an up trend, I could have accumulated...

Why the Fed is Such a Lousy Wizard of Oz

Interesting article by Susan C. Walker - check it out!By Susan C. Walker, Elliott Wave InternationalSeptember 7, 2007 Central bankers who "follow the yellow brick road" end up in Jackson Hole, Wyoming, every Labor Day weekend for their annual symposium sponsored by – who else? – the Kansas City Fed. (Who can forget Judy Garland saying to her little dog, "Toto, I've got a feeling we're not in...

Success With AUDJPY

Finally, I seem to be able to make a few dollars. This is significant as it represents a ray of sunshine in my quest to become a Forex trader.I'm still playing with a small account balance, but hey, if I'm able to grow this into a more serious stake, I'll be willing to trade with it.Anyway, to give you what might be a trading tip or two, my process currently is to start out by looking at a 1hr...

Forex Day Trading System - Thanks for joining

Thanks to all of you who have joined my list and shown an interest in reviewing my currency trading course which will be launched quite soon. Remember the course contains a lot of interesting material and will have excellent strategies. So I need all the joinees of my list who will be selected to review this course to maintain confidentiality.Very soon all of you will receive an email from me...

How To Recognize a Financial Mania When You're Smack Dab in the Middle of One

By Susan C. Walker, Elliott Wave InternationalNovember 12, 2007 When you're caught in the middle of a bad storm, you don't really care whether it's a tropical depression or a full-strength hurricane. You just know you're hanging on for dear life. The same idea applies to financial markets. When a market is trending up strongly, it's hard to tell whether it's just a bull market or a more dangerous...

Time To Accumulate A Carry?

The AUDJPY is down around 96.00 at the moment.I've ridden the money train on the way down a couple of times. I don't know if there is a real term for this, but as it goes down, I add new positions as previous ones have profit protected behind a stop loss. When you catch a large down movement using this practice you can put nearly your entire account into play -- while only taking any risk on...

AUDJPY Unwinding

The yen is appreciating quickly at the moment, or should I say a short period ago. Luckily I was awake and able to scramble around in my account to keep things sane!EDIT: It is still unwinding... now at 102.75 and holding. Oops, now approaching 102 and probably beyo...

AUDJPY Thoughts

I'm still trading the AUDJPY.I've learned that the Dow Jones and the AUDJPY have a correlation based on the fact that people borrow Japanese Yen to invest. You can watch the AUDJPY rise and fall as the Dow rises and falls.Hmm, what else have I learned?I've also learned that I have a tendency to get too heavily invested. I guess I'd be okay if I had a larger capitalization -- assuming I did not...

Forex Day Trading - Important Announcement!!

Forex Day Trading System- Important Announcement!!I have an important announcement to make..Infact I need your help. As you know I told you in some of my previous posts that I am going to launch a new Forex Trading course. It is an ebook which contains great strategies. Not only are these strategies very effective, they are very easy to use as well.This course is currently getting prepared....

Signal #24

Sell limit Gbp/Usd at 2.0827, SL at 2.0877, TP at 2.0727Sell stop Gbp/Usd at 2.0772, SL at 2.0820, TP at 2.0727Gut luck ...

Bragging Rights on the AUDJPY

I just could not resist posting this. It represents a great day of trading the AUDJPY leaving me with both profits and some low priced carry positions. What more could I want?I should note that I stayed with this pair for over 24 hours. The US Jobs report came out during the spikes outside the trend lin...

Trending the 5 min AUDJPY

I've been having a great time spotting trends on the AUDJPY today. Well, of course, I have to point out that trends are good until they change. However, with that out of the way, I've been able to pick up some trends, identify channels, and generally advance my knowledge and confidence quite a bit.Sure, sure, I know, everyone can float in a rising tide, but check the charts today, things have...

Forex Day Trading System - Where will the anti USD rally End?

Forex Day Trading System - Where will the anti USD rally End?USD is taking some serious pounding from all the majors where EUR, GBP, JPY and CHF are prominent.Though this is good for export and helps to get more foreign exchange, in a way it will keep inflation high.Now, the biggest question that comes is how can you take advantage of this rally? To make some gains in this rally, what you have...

Forex Scalping Information

Okay, I've been trying to find information on forex scalping and the pickings are mightly slim indeed. In fact, the so-called information on the net is so bad I'm going to write up a small post of my own... because I'm sure if you found this page you are desperately looking for some real information.What Is Scalping?Quite simply, very short term trading.Why Don't Brokers Like Scalping?Well, s...

Grabbing Some USDCAD Pippage

Well, it's about time!It looks like there is some strength in the USD happening (or perhaps it has already finished happening) at this point. Am I vindicated?Who knows. As I've seen posted here and there a few times, everyone trades alone. You have your convictions, systems or maybe even a dartboard, and you play as your guidance and resources dictate.However, recent weakness in the USD does...

Forex Day Trading System - Answers to your questions

Forex Day Trading System - Answers to your trading questionsQuite a few of you ask me some questions on trading the market better. Most of these questions are to find out which forex currency pair to trade and how to identify the entry and exit points. Few of the questions are on money management also.I'll try to answer few of these -Q - How should I identify the entry point when trading GBP/...

Result Signal #23

Buy Limit Eur/Usd at 1.4045, TP at 1.4140, SL at 1.4005 = 0Buy Stop Eur/Usd at 1.4125, TP at 1.4205, SL at 1.4090 = +35 pips (close manually at 1.4160)Buy Limit Gbp/Usd at 2.0330, TP at 2.0470, SL at 2.0290 = 0Buy Stop Gbp/Usd at 2.0425, TP at 2.0470, SL at 2.0385 = +45Profit = +80 pipsOctober Total Profit = +435 pipsAccumulate Total Profit = +1066 p...

Signal #23

Buy Limit Eur/Usd at 1.4045, TP at 1.4140, SL at 1.4005Buy Stop Eur/Usd at 1.4125, TP at 1.4205, SL at 1.4090Buy Limit Gbp/Usd at 2.0330, TP at 2.0470, SL at 2.0290Buy Stop Gbp/Usd at 2.0425, TP at 2.0470, SL at 2.0385Happy safe tradi...

Result Signal #22

Sell Stop Eur/Usd at 1.4025, TP at 1.3925, SL at 1.4045 = -5 pips (close manually at 1.4030, see shoutbox)Sell Limit Gbp/USd at 2.0350, TP at 2.090, SL at 2.0390 = + 40 pips (close manually at 2.0310)Profit = +35 pipsOctober Total Profit = +355 pipsAccumulate Total Profit = +986 pipsYesterday, I can't handle my emotion. As a trader, that was a double loss. First, I loss pips and the worst thing...

History of the USD - from 1970

Its worth at this point pondering the history of the USD. People talk about currencies as if they are a measure of value, but in fact thats not really the case. There are 3 things that determine the relative value of currencies:1. The relative value of the base currency its paired with2. The sustainable value of the currency for trade and investment 3. The short term speculative value of a currency...

Signal #22

Sell Stop Eur/Usd at 1.4025, TP at 1.3925, SL at 1.4045Sell Limit Gbp/USd at 2.0350, TP at 2.090, SL at 2.0...

Result Signal #21

Buy Gbp/Usd at 2.0355, TP at 2.0480, SL at 2.0315 = +35 pips (close at 2.0390 before NFP)Buy Eur/Usd at 1.4125, TP at 1.4180, SL at 1.4095 = +5 pips (close at 1.4130 before NFP)Profit = +40 pipsOctober Total Profit = +320 pipsAccumulate Total Profit = +951 p...

10 Most Deadly Thinking in Forex Trading

10 Thinking that forex traders must not keep in their mindsThinking that they can control the marketUsing indicators are 100% safeFollowing market prediction without analyzingDoubling their lots to replace their lossStop learning and analyzing when already get some profitsHold a loss position in order to wait the price backUnderestimate writing daily journalOpening new position without planThey...

Winners Simply Do What Losers Won’t Do

Thought the forum might enjoy this quote - copied from Van Tharp Sep 28th Letter"Winners Simply Do What Losers Won’t DoAdopting the belief that “winners” simply do what the “losers” will not do is very useful in many aspects of life. After all, that is the case in the field of investing and trading. So let’s step into that belief and see what naturally follows.Here are some winner/loser opposi...

10 Tips for Online Forex Traders

By Abe CofnasWithout a doubt, trading is more than a few quick tips for success. You need experience, fortitude, capital and, above all, a solid trading system. However, for beginners and those who are perhaps losing their focus amid significant drawdowns, keeping things simple can introduce much-needed focus into your trading.To that end, here are 10 tips for trading e-forex that can help you...

Trader Level #5

Level #5. Unconscious CompetenceNow were cooking - just like driving a car, every day you get in your seat and trade - you do everything now on an unconscious level.you are running on autopilot. You start to pick the really big trades and getting 100 pips in a day is becoming quite normal to you.This is trading utopia - you have mastered your emotions and you are now a trader with a rapidly...

38 Steps To Becoming A Successful Forex Trader

1. We accumulate trading information - buying books, going to seminars and researching.2. We begin to trade with our 'new' knowledge.3. We consistently 'donate' and then realize we may need more knowledge or information.4. We accumulate more information.5. We switch the currencies and time frames we are currently following.6. We go back into the market and trade with our 'updated' knowledge.7....

Trader Level #3

Level #3. The EUREKA MomentTowards the end of stage two you begin to realise that it's not the system that is making the difference.you realise that its actually possible to make money with a simple moving average and nothing else IF you can get your head and money management rightYou start to read books on the psychology of trading and identify with the characters portrayed in those...

Trader Level #4

Level #4. Conscious CompetenceOk, now you are making trades whenever your system tells you to.you take losses just as easily as you take winsyou now let your winners run to their conclusion fully accepting the risk and knowing that your system makes more money than it loses and when you're on a loser you close it swiftly with little pain to your accountYou are now at a point where you break even...

Trader Level #2

Level #2. Conscious IncompetenceLevel two is where you realise that there is more work involved in this and that you might actually have to work a few things out.you consciously realise that you are an incompetent trader - you don't have the skills or the insight to turn a regular profit.During this phase you will buy systems and e-books galore, read websites based everywhere from Russia to the...

Trader Level #1

Level #1. Unconscious IncompetentThis is the first step you take when starting to look into trading. you know that its a good way of making money cos you've heard so many things about it and heard of so many millionaires.Unfortunately, just like when you first desire to drive a car you think it will be easy - after all, how hard can it be?? - price either moves up or down - what's the big secret...

A Series of Trader's Level

According to this article, there is a classification for forex traders based at their achievement. Start from today, I will post the level of classification. Hope this is useful to consider your trading level.The trading level of a forex traderLevel #1 : Unconscious IncompetenceLevel #2 : Conscious CompetenceLevel #3: The Eureka MomentLevel #4: Conscious CompetenceLevel #5: Unconscious...

Think like Real Trader

In principal, trading forex is same as any trading form in this world. The basic strategy is buy at low and sell at high. But why this simple strategy is so hard to do? Because nobody can control the market. High and low are decided by conclusion and psychology level from all traders in this world. The basic economic law about trading is there must be a balance between supply and demand. When...

Understanding Fundamental News

There are many fundamental news that are watched by traders. Among of them, I select several news that have big influence in price movements. I figured that not all of "good news" is good and vice versa. Let's discuss about them one by one sorted from the most important news (remember, the qualification for most important is based at my experience).Interest Rate Statement. The mother of all...

Software : Forex Strategy Builder 2.4.2

Forex Strategy Builder (FSB) is a complete system for creating and testing of Forex trading strategies. It provides an easy way for building strategies as a combination of technical indicators. Langua...

Maximize Your Profit

Until now, I still don't find a holy grail forex system that can win 100%. Maybe someday, one of us will find that. But until that day, do we stop trading forex? Personally, I won't wait for the holy grail. No one is perfect just like forex system. So, what can we do to survive at this forex jungle?The answer is simple but hard to do, minimize your loss and maximize your profit. If you want to...

10 Secrets of Successful Forex Trader

These are 10 tips that I think must do to become successful forex trader :Learn from your losingFind what factors that made you lostDo not repeat the loss factorsChange your loss factors into winning factorsMake a plan for your tradingDo your plan and stick with themAlways use Money ManagementUse strategy to maximize profitsTake your loss like your profitLearn about market psychologyHope these...

Trading Forex is Simple or Complicated?

That is a question for me after doing trading forex for almost a year. I have been looking for the answer for a few moment until I found the answer for myself. Trading forex can be simple or complicated depends on our knowledge about forex itself. Trading forex is same as many kinds of trading terms in this world, what makes it different are the items that being trade and the influence...

Signal #21

Buy Gbp/Usd at 2.0355, TP at 2.0480, SL at 2.0315Buy Eur/Usd at 1.4125, TP at 1.4180, SL at 1.4...

Result Signal #20

Result from Signal #20 :Buy Limit Gbp/Usd at 2.0285, TP at 2.0360, SL at 2.0245 = +75 pipsBuy Limit Eur/Usd at 1.4080, TP at 1.4140, SL at 1.4050 = +60 pipsProfit = +135 pipsOctober Total Profit = +280 pipsAccumulate Total Profit = +911 p...

Intermezzo : Change Template

Today, I change the layout of MFS. I was thought this procedure will take a relative long time and patience but I was wrong. It took longer time than my prediction and a lot of attempts since I just know a little web programmer skill. I do not have a plan to change the template again in a short time since my time is very limited.Thanks for typoxp2 for sharing this great template and my chat...

Signal #20

Buy Limit Gbp/Usd at 2.0285, TP at 2.0360, SL at 2.0245Buy Limit Eur/Usd at 1.4080, TP at 1.4140, SL at 1.4...

Result Signal #19

Result from Signal #19 :Sell Gbp/Usd at 2.0475, TP at 2.0350, SL at 2.0515 = 0Sell Eur/Usd at 1.4180, TP at 1.4090, SL at 1.4205 = 90 pipsProfit = +90 pipsOctober Total Profit = +145 pipsAccumulate Total Profit = +776 pi...

Result Signal #18

Result from Signal #18 :Sell Limit Gbp/Usd at 2.0460, TP at 2.0410, SL at 2.0475 = 1st attempt was loss -15 pips, 2nd attempt was profit +70 pips (close at 2.0390) = total +55 pipsBuy Limit Gbp/Usd at 2.0400, TP at 2.0460, SL at 2.0360 = +40 pips (close at 2.0440)Buy Stop Gbp/Usd at 2.0480, TP at 2.0580, SL at 2.0440 = -40 pipsProfit = +55 pipsOctober Total Profit = +55 pipsAccumulate Total...

USDCAD Is Playing By My Rules

Okay, I've blogged recently about the USDCAD approaching a low.I know there are always skeptics out there, and I'm not trying to sell you anything, but I will suggest that this pair is now fairly easy to trade.When it shows signs of weakness, dropping significantly, buy it. When it approaches parity, sell it. It may or may not be at bottom yet, but nobody really believes that the Canadian...

Signal #19

Sell Gbp/Usd at 2.0475, TP at 2.0350, SL at 2.0515Sell Eur/Usd at 1.4180, TP at 1.4090, SL at 1.4...

Forex Day Trading System - Exciting Info!!

Forex Day Trading System - Exciting Info!!There are quite a few exciting infos that I have to share.First, my blog has reached 600 subscribers in the RSS feed list..Thanks to all of you for making it such a popular blog site..Keep visiting and I'll share lot of other useful information also on the world of forex trading.Next exciting news is that I am in middle of creating a forex trading course...

Privacy Policy

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Signal #18

Sell Limit Gbp/Usd at 2.0460, TP at 2.0410, SL at 2.0475Buy Limit Gbp/Usd at 2.0400, TP at 2.0460, SL at 2.0360Buy Stop Gbp/Usd at 2.0480, TP at 2.0580, SL at 2.0440hint :For position number 1, if price get through 2.0415, remove TP, move SL to 2.0420, set Trailing Stop to...

Dont ride off the NZ economy

I dont see an increase in the NZ overnight cash rate. Dont see 50bp rise, more likely they will hold, with a 15% chance of a 0.25% increase. On the negative side (in favour of rate increase):1. New Zealanders dont save2. Need to rein in credit creation in an inflationary setting (ie. real rates are lower)3. Growing inflationary outcomes worldwide - but not recognised by the Fed4. Central banks are...

USDCAD Edges Lower

Okay, if we were at bottom a few days ago, it was only a soft bottom!Right now, according to the charts I'm viewing, this pair is trading at 0.9925, which is nearing a penny below parity. I can hardly imagine what such a drastic change in rates, worldwide, truly means to the state of global economic affairs.Perhaps the current administration has done the unthinkable? Perhaps the US predomina...

Result Signal #17

Result from Signal #17 :Buy Limit Gbp/Usd at 2.0150, TP at 2.0230, SL at 2.0110 = +80 pipsSell Limit Eur/Usd at 1.4160, TP at 1.4110, SL at 1.4190 = +25 pips (close manually at 1.4135)Profit = +105 pipsSept Total Profit = +238 pipsAccumulate Total Profit = +631 pi...

USDCAD Once Again

Okay, I think it is nearly safe to say that the USDCAD has hit bottom.Heh, actually, it's probably not safe to say, but it has certainly found some support at and above the 0.9950 level. I think that the downward pressure from speculators has now eased.I also think the downward jump has been overdone.However, assuming I'm right, and I'm finding that often I am, I don't know how long it will t...

Signal #17

Buy Limit Gbp/Usd at 2.0150, TP at 2.0230, SL at 2.0110Sell Limit Eur/Usd at 1.4160, TP at 1.4110, SL at 1.4190note : Use Trailing Stop =...

Result Signal #16

Result from Signal #16 :Sell Gbp/Usd at 2.0180, TP at 2.0085, SL at 2.0220 = + 65 pips (close manual at 2.0115)Sell Eur/Usd at 1.4135, TP at 1.4080, SL at 1.4165 = + 20 pips (close manual at 1.4115)Profit = +85 pipsSept Total Profit = +133 pipsAccumulate Total Profit = +526 pi...

Signal #16

Sell Gbp/Usd at 2.0180, TP at 2.0085, SL at 2.0220Sell Eur/Usd at 1.4135, TP at 1.4080, SL at 1.4165Good luck!note : close manual before news GDP ... than we see the res...

Result Signal #15

Result from signal #15 :Sell Stop Gbp/Usd at 2.0190, TP at 2.0115, SL at 2.0230 = +75 pipsBuy Stop Gbp/Usd at 2.0250, TP at 2.0340, SL at 2.0210 = 0Sell Limit Eur/Usd at 1.4070, TP at 1.3095, SL at 1.4100 = -30 pipsProfit = +45 pipsSept Total Profit = +48 pipsAccumulate Total Profit = +441 pi...

Signal #15

Yesterday, we saw a strange movement from GBP/USD Pair. It moved up from 2.0198 to 2.0319 but in a short time, it felt and closed at 2.0212. The candle pattern was similiar to falling star so it supposes to going down but who knows the future, right? Because the Parabolic SAR in daily chart is already moved to below the candle, so this pair is still have a possibility to going up.I try to check...

Missing the USDCAD Bottom

Well, I'm not sure if the USDCAD has finally hit bottom or not. It's around parity today which is pretty much what people were talking about.Now, I did purchase some before parity. So, I'm underwater, holding my breath, wondering how much time it might take before I'll notice some buoyancy and float back to the surface.I guess this makes me a swing trader, because now I'm looking at holding my...

Analysis 20/9

It seems that market are still fighting to decide about the next trend. As we know, price is result from consolidation of markets. Yesterday, Gbp/Usd was bearish at European session but in the middle of US session, this pair had some strong support. Today, we will wait for an important fundamental news about speech from Mr. Ben Bernanke at early of US session. It seems that European trader will...

Financial Excitement

There has been a lot of frenzied action since yesterday's Fed rate cuts.Personally, I've activated an account with OANDA. They allow very small accounts and any size of trade. Also, you can trade less common currency pairs at reasonable spreads. For example, during normal trading, the spread on the EURUSD is usually 0.9 pips. That's great!Anyhow, more experiments under way.I've got some...

Result Signal #14

Result from signal #14 :Buy Limit Gbp/Usd at 2.0120, TP 2.0265, SL 2.0080 : -40 pipsProfit = -40 pipsSept Total Profit = +3 pipsAccumulate Total Profit = +396 pi...

Signal #14

Buy Limit Gbp/Usd at 2.0120, TP 2.0265, SL 2.0...

Forex Day Trading - FOMC Rate decision push to market

Forex Day Trading - FOMC Rate decision push to marketToday the FOMC meeting was scheduled and the fx market was speculating about the rate interest decision from the meeting as that will have direct impact on $$ based currency pairs.If the interest rates go up AS PER EXPECTATION then its USD bullish and which means USD will get stronger and will cause EUR/USD, GBP/USD and other pairs to...

Result Signal #13

Result from Signal #13:Buy limit Gbp/Usd at 1.9885, TP at 1.9970, SL at 1.9845 = +85 pipsProfit = +85 pipsSept Total Profit = +43 pipsAccumulate Total Profit = +436 pi...

Signal #13

Buy limit Gbp/Usd at 1.9885, TP at 1.9970, SL at 1.9...

Bottom Spotting the USD/CAD

Down and down it goes, where it will stop, nobody knows.Just how low can the USD go compared to the CAD? Parity is an option. Below parity is an option. However, there have to be some fundamentals that come into play here. The amount of trade between the USA and Canada is huge!Traditionally, the USD has always sat above the CAD.Anyway, I'm not sure parity or below is realistic. I'm starting...

The EUR/TRY Carry Trade

I'm dabbling in the EURTRY carry trade situation.Due to the difference in interest rates you can pocket a bit of change as long as you maintain your short position. Obviously, however, nothing is free. The EURTRY market has a lot of volatility complete with sharp price spikes on the order of 1500 pips!This means that you cannot leave a position completely open or you will risk the value of y...

Result Signal #12

Result from Signal #12 :Buy Limit Gbp/Usd at 2.0180, TP at 2.0290, SL at 2.0140 = -40 pipsProfit = -40 pipsSept Total Profit = -42 pipsAccumulate Total Profit = +393 pi...

Result Signal #11

Result from Signal #11 :Sell limit Gbp/Usd at 2.0315, TP = 2.0225, SL = 2.0335 = -20Sell stop Gbp/Usd at 2.0255, TP = 2.0225, SL = 2.0295 = -40Profit = -60 pipsSept Total Profit = -2 pipsAccumulate Total Profit = +435 pi...

Result Signal #10

Result from Signal #10 :Buy Limit Gbp/Usd at 2.0260, TP at 2.0355, SL at 2.0220 = +95Buy Stop Gbp/Usd at 2.02370, TP at 2.0400, SL at 2.0330 = 0Profit = +95 pipsSept Total Profit = +58 pipsAccumulate Total Profit = +495 pi...

Signal #12

Buy Limit Gbp/Usd at 2.0180, TP at 2.0290, SL at 2.0...

Trailing Stop Strikes

Well, whether it is a small correction or not I have no idea, but the USDJPY has gone down enough to remove me from the market. So, my profits have been pocketed and I need to look for opportunities to get back in.The same is true for my AUDUSD holdings.I'm starting to look into the USDCAD, in the long term, but there is always the risk that the US dollar will take a dump when the Tuesday...

Riding the USDJPY Train

Well, imagine my surprise to wake up to a hugely profitable swing in the USDJPY.It's too bad that I wasn't awake during the action. I could have increased my position on the way through and grabbed stupendous gains from it. Anyway, I cannot complain, as I've added almost 10% to my account.Isn't it great when you accomplish great things in your sleep?Of course, I should note that I did have s...

Analysis for Gbp/Usd based at Eur/Gbp pair

Yesterday, we saw a different movement for Gbp/Usd and Eur/Usd. Eur/Usd has broken its highest level resistant at 1.3849 which was reached at 24/07/2007 but Gbp/Usd didn't do the same thing. Gbp/Usd just sit between level 2.0286 - 2.0363. We can check the Eur/Gbp pair to see what is going on between both of currencies.From the attachment picture, we can see that Eur is stronger than Gbp in this...

Signal #11

Signal #11 :Sell limit Gbp/Usd at 2.0315, TP = 2.0225, SL = 2.0335Sell stop Gbp/Usd at 2.0255, TP = 2.0225, SL = 2.0295Gut luck gu...

Minimal Participation

Sure, you want to have as much capital as possible involved in an upswing, but it's painful having a stake while the market slides.Unfortunately, you have to keep dipping in your toe. At the apparent end of a long slide, or when a correction appears to run its course, it's time to dip in that toe. What happens when you end up tossing your coins into the fray and the market rejects your advan...

Riding the AUDUSD Upswing

I've been riding the recent AUDUSD increase.Now, I have some competing issues on my mind. As the AUDUSD hits new highs I have to worry about corrections. However, if this instrument is going to continue rising, I'd hate to not maximize my participation. See my previous post about having to play to win.Anyway, while a more experienced Forex trader might not have to "figure this out", I've...

Gun Shy

I'm still a little gun shy.I see little dips and corrections, which is only to be expected, and my stress levels go through the roof. That's what I get for playing across the recent job reports news last week.All I can do is remind myself of various cliches. You have to play to win. No risk no reward. Buy low sell high. No guts no glory.I suppose all this concern is healthy. It will...

You Have to Play to Win

Well, now that I've exited most of my positions profitably, I'm paranoid. What if I put in some more cash and the market takes another massive dump? Heck, it has been a long upward run so I'm sure a correction is brewing at some point, right?You have to play to win.If I sit on the sidelines and fret away the day I'll get nowhere. What I need to do is participate in a guarded way. What...

Every Day Feels Like Sunday Baby

I don't know if you'll remember it, but there was a commercial on CNN a while ago that had this song. It would talk about stocks, making money and how great trading the NASDAQ was. Something like that anyway.Well, when the markets are moving in your favor, every day feels like Sunday.Yes, indeed, my pip grinding slogfest has been ongoing since Friday, but things have improved so much since t...

Grinding Out the Pips

Well, I've been grinding away at my open positions. Catching the tops of candles and buying in again at the bottom. I guess that means I'm fairly good at reading the short term charts with respect to top and bottom behavior.I've got several dozen trades in the past couple of days. It's probably a little too much work to bother transposing all the data.Suffice it to say that I had some...

Signal #10

Buy Limit Gbp/Usd at 2.0260, TP at 2.0355, SL = 2.0220Buy Stop Gbp/Usd at 2.02370, TP at 2.0400, SL= 2.0330Good luck and Happy Trading!Update 12/09/2007 : I still hold my position and change TP at 2.0440. Eur has already broke high so I think Gbp will follow in a short ti...

Result Signal #9

Result from Signal #9 :Buy Limit Gbp/Usd at 2.0270, TP at 2.0360, SL at 2.0230 = + 45 pips (close manually at 2.0315, see my warning at shoutbox)Buy Stop Gbp/Usd at 2.0330, TP at 2.0360, SL at 2.0290 = not executed (high yesterday was 2.0329)Profit = +45 pipsSept Total Profit = -37 pipsAccumulate Total Profit = +437 pi...

MTF BBands_Stop Strategy

This strategy is based at MTF BBands_Stop indicator and I have found a trading system based on it. This simple strategy is similiar with "Simplicity" which can be found in my previous post here but this is more precise for short term / intraday trading. It can be used for trending or sideways moment but you must learn to find out the pattern for that first.Download the zip file here, extract the...

Signal #9

Buy Limit Gbp/Usd at 2.0270, TP at 2.0360, SL at 2.0230Buy Stop Gbp/Usd at 2.0330, TP at 2.0360, SL at 2.0290Gut luck, guys...

Result Test #8

Result Test #8 :Buy Limit Gbp/Usd at 2.0180, TP at 2.0260, SL at 2.0120 = 0 (closed manually)Sell Stop Gbp/Usd at 2.0170, TP at 2.0140, SL at 2.0210 = -40 pipsBuy Limit Gbp/Usd at 2.0140, TP at 2.0260, SL at 2.0120 = 0 (not executed)Buy Stop Gbp/Usd at 2.0220, TP at 2.0260, SL at 2.0180 = + 40 pipsSell Stop Gbp/Usd at 2.0260, TP at 2.0220, SL at 2.0300 = - 40 pipsBuy Stop Gbp/Usd at 2.0275, TP...

Trading Begins in Three Hours

Not that anyone is counting.Anyhow, I'm looking at my account report and I've noticed that I don't seem to be accruing any rollovers. Perhaps this is a feature of a trial SuperMini account as compared to a standard account?I'll be forced to look for a new trading partner that doesn't penalize small accounts if that is the ca...

Trading Begins in Five Hours

Given the recent news based rout of the Greenback I am expecting some heated trading and movement when the markets reopen.Everybody has had time to fully digest the news. Everybody has had time to analyze their charts to the Nth degree.I'm going to step out on a limb and predict some short term rebound in US currency. However, at the same time, the recent volatility might put some fear into ...

Forex Review: Taking Stock

The weekend is a good time to review what happened during the last week, take a look at long term charts, and to think about new trading strategies for the future.As a relative newcomer to the game I'm taking my first good look at the idea of rollover. Basically, when you make a trade, it doesn't really involve your own money. You borrow one currency (the base currency) to exchange it for...

Trade Free Weekends

It looks like The Rookie has survived another week. Although, I have to admit I'm holding my breath on a few underwater instruments this weekend.In particular, the USDJPY took a heavy knock on the jaw and is lying face down waiting for the three count. Maybe the weekend will be long enough to let the coach clean up a few wounds while the dollar catches it's breath for the next round? Get up...

This Business Is Tricky

I'm learning. Every day I'm learning.Some fundamental news came out this morning. That was great, and I got some profits because of it, but at the same time I had limits on a lot of my positions to help ensure that I'd get out of positions and free up margin room.This means I've left a lot, and I mean a lot, of gains on the table. That's too bad.In the currency exchange market, finding the...

Close Manually Test #8 Just Before NFP

I closed manually my trading position just before NFP. Position buy limit Gbp/Usd at 2.0180 was closed at 2.0220.I open a new position for buy limit Gbp/Usd at 2.0160, TP at 2.0260, SL at 2.0120.Ready for NFP...

Exchange Rates Differ From Stocks

There is an important difference between Forex instruments and stocks or bonds. The nature of this difference requires that you adjust your thinking.When you buy a stock, the presumption is that with inflation or growth that the stock will eventually always climb. That, at least, is the goal.Trading on exchange rates is a different ballgame. The rate of exchange is a ratio representing the...

Signal #8

Today is NFP, it is one of the most important forex news. So, I better don't use any indicators since this day is weird. Let's predict the price channel for today.The channel price of Gbp/Usd at Daily chart is between 2.0180 and 2.0260 which was reached yesterday. If we check further, the channel can be stretched between 2.0135 and 2.0330. So lets catch the fish ^_^Buy Limit Gbp/Usd at 2.0180,...

Rookie Survives

Well, the so-called sideways market just took a major jump down across a fair number of currency pairs.I added some equity to my account just to make sure I would not suffer a margin call in situation that I feel comfortable waiting out.I need to be careful though. If I add equity just a few more times I won't be playing with peanuts -- at least not according to the small quantity of assets...

Looking At Me Sideways

The market has been rather docile today. Well, at least in the currency instruments that I have been nurturing.What is going on with all this sideways action? The Forex gods must be crazy!Without getting into particular positions and so forth, here are some things that are currently sitting on my piled-high plate:AUDUSDEURCHFEURGBPEURUSDGBPUSDUSDCADUSDJPYPresumably I'll be able to lighten my...

Result Test #7

Result from Test #7 :Buy limit Gbp/Usd at 2.0165, TP at 2.0280, SL at 2.0125 = +85 pips (close manual at 2.0250)Buy stop Gbp/Usd at 2.0230, TP at 2.0280, SL at 2.0190 = -10 pips (trailing stop = 30 was triggered when price passed level 2.0260 so my stop was moving to 2.0220)Total profit for Test #7 = +75 pipsSept total profit = -72 pips (Still loss for this month)Total Profit = +402 pipsAlways...

New Strategy Yields New Results

Since the currency market was soundly trouncing me I've adjusted my trading. One thing I have done is move to a slower chart. I'm now trading on the 1hr charts instead of using anything smaller. Another thing I've done is spread my risk across different instruments.With this, I've found I'm more able to judge movement potential. I'm also able to be more patient when I have some items on the...

A Couple Trades

Okay, time to show that I'm not absolutely wrong 100% of the time. So much for the inverse signal idea... damn, foiled again.B CADJPY 109.36 -> 109.61 = 2.17B EURUSD 1.3645 -> 1.3658 = 0.30I had a fair amount of margin on my account and figured I'd unload the EURUSD on a spike so I could leave myself a bit more wiggle room with respect to other open positio...

Test #7

Buy limit Gbp/Usd at 2.0165, TP at 2.0280, SL at 2.0125Buy stop Gbp/Usd at 2.0230, TP at 2.0280, SL at 2.0190Gut luck guys! ^_^update : just for brave man, you may close your buy position (TP) at 2.0360hint : when price hit 2.0280, move your SL to 2.0240 and TP to 2.0360but you should know the risk too, probably you will lose your profit pi...

Result Test #6

There no open position regarding my test#6 because the condition was not me...

Amazing New Signal Devised

Based on recent performance this new signal operates at near 100% efficiency. From now on I'll blog about entering long and short positions in near real time. Whatever I do, just do the opposite. You'll be rich in no time!I highly recommend grabbing my blog fe...

Understanding The Advertising

Now that I'm playing in the currency trading world I have a much better understanding of all the Forex advertising floating around. As a rank beginner plenty of the ads are hard to understand but a few are geared towards you:Learn how to tradeTrade with usCommission free tradingThis can help you enter the market while advertising that talks about pips, signals and so forth may not be relevant...

I Was Right!

Okay, so it's too late now, but dammit, I was right! Every single open position I had to unload is now in the money. Of course, that aforementioned $ss chapping is in progress too.Anyway, rest assured that I'm laughing about the whole day at this poi...

Test #6

Test #6If before 1.00 am (GMT +7 = WIB), Gbp/Usd does not break 2.0100, Sell Limit Gbp/Usd at 2.0150, TP at 2.0095, SL = 2.0165If before 1.00 am (GMT +7 = WIB), Gbp/Usd already break 2.0100 but does not break 2.0090, Buy Limit Gbp/Usd at 2.0095, TP at 2.0240, SL = 2.0070 & Buy Stop Gbp/Usd at 2.0165, TP at 2.0240, SL = 2.0125Hopefully, this time we can recover our yesterday loss. Good luck gu...

Result Test #5

Result from Test #5 :Buy Stop Gbp/Usd at 2.0195, TP at 2.0240, SL at 2.0255 = 0 pipsBuy Limit Gbp/Usd at 2.0135, TP at 2.0240, SL at 2.0095 = -40 pipsBuy Stop Eur/Usd at 1.3635, TP at 1.3705, SL at 1.3605 = 0 pipsBuy Limit Eur/Usd at 1.3590, TP at 1.3675, SL at 1.3560 = -30 pipsSell Limit Usd/Chf at 1.2090, TP at 1.2035, SL at 1.2115 = -37 pipsSell Stop Usd/Chf at 1.2065, TP at 1.2035, SL at...

Definitely Getting Spanked

Hey, it's important to have a good attitude, so don't get me wrong. Right now I'm in the process of being spanked for being in the wrong side of the forex market. Again, if you are just dropping by, I'm only dealing with a $100 account. It's not that big a deal and I get to learn a lesson.I should close my EURUSD position and take a hefty percentage loss.However, it would really chap my $ss...

Forex Day Trading system - The market trigger called NFP

Forex Day Trading system - The market trigger called NFPCurrently the forex market is range trading..Its not trending at all. Thats what happens when a fundamental announcement is about to come out. If the fundemental news is not big, the range bound movement may happen on the 15 min chart. However if the fundamental announcement is as big as NFP (Non farm payroll), then the range bound movemet...

Getting Spanked

Oh oh. I might be about to get spanked. It's really strange, because you look at things and come to a conclusion, but the market certainly doesn't have to give a damn about any of your thoughts, calculations or conclusions.Today I've been selling the EURUSD at the top of some price spikes. The only question is, are these really spikes are just some short term pauses on a large upward moveme...

Test #5

Buy Stop Gbp/Usd at 2.0195, TP at 2.0240, SL at 2.0255Buy Limit Gbp/Usd at 2.0135, TP at 2.0240, SL at 2.0095Buy Stop Eur/Usd at 1.3635, TP at 1.3705, SL at 1.3605Buy Limit Eur/Usd at 1.3590, TP at 1.3675, SL at 1.3560Sell Limit Usd/Chf at 1.2090, TP at 1.2035, SL at 1.2115Sell Stop Usd/Chf at 1.2065, TP at 1.2035, SL at 1.2090Be careful of cross pair.... it can influence the main pairGood luck,...

Holiday Doldrums

Well, I wasn't sure whether or not to take it seriously. What, you ask? The Forex educational material talking about what days and times to do your trading.In terms of trading, today was a very boring day.Very little movement. What movement there was happened at a snails pace. Maybe next time I won't glue myself to the market during a holid...

Reporting Some Losses

I guess since I crow about profits, I should also disclose some recent currency trading losses. I mean, that is the whole game right, win some and lose some. The key is to make sure you regularly win more than you lose.B EURUSD @ 1.3643 S EURUSD @ 1.3649 = 0.60B EURUSD @ 1.3638 S EURUSD @ 1.3605 = -3.30 (S)B EURUSD @ 1.3634 S EURUSD @ 1.3619 = -1.50 (S)B EURUSD @ 1.3630 S EURUSD @ 1.3619 =...

Discovering Price Alerts

Okay, so I'm no genius. However, I am admittedly a rookie, so that is no fault of mine.Anyway, I've just discovered the joy of setting price alerts. I can have my system play a wave file when one of the items I'm interested in arrives at or crosses a certain price point.The value I currently see in this is that it can alert me to a situation that might represent an opportunity. When the alert...

Result Test #4

Result from Test #4 :Buy Gbp/Usd at 2.0195, TP at 2.0250, SL at 2.0155 = -40 pipsSept Total Profit = -40 pipsTotal Profit = +427 pipsWin = 3Loss = 1I just got bad feeling this afternoon, so I suggest you to put trailing stop. Too bad, that really happen...

Test #4

Buy Gbp/Usd at 2.0195, TP at 2.0250, SL 2.0155(if your trading platform can trail the stop loss.... use it)Good luck guys ...

Phew! Weekend Survived

As I blogged recently, I had left myself in an open position with no stop order. If some world news event had occurred and greatly changed it's value, I could have lost up to the current total of my account. I could also have made a good deal of change too.However, upon opening a few minutes ago the price raised a few pips. So, no major changes and I've had time to add stop orders to those...

Tick, Tick, Tick

Only three and a half more hours...

Impending Day Trading Resumption

I can hardly wait. In another five hours, approximately, the Forex currency trading markets will start another week of operation.Will my open trades bust my account? Sure, it's only a SuperMini, but I'd rather not simply throw my money away. On the other hand, perhaps the EURUSD will go up and I'll end up looking like a hero? The suspense is awesome...I've been doing my best to learn more...

How To Become A Currency Trader

If you are anything like me, you probably imagine that it is difficult to become a foreign currency trader. Perhaps there are rules, regulations and other hoops that have to be jumped through. Maybe you need large amounts of cash in order to get started.No.Becoming a Forex currency trader is incredibly simple!Get A Demo AccountAs I beginner I'd suggest you sign up with Oanda. Not only do they...

24 Hours A Day 6 Days A Week?

Well, that's true, but not.Apparently the markets are closed from Friday at 4:00pm EST until Sunday at 5:00pm EST. I don't know about you, but that sounds like a 48 hour closure to me. Sure, there is only one day that trading does not occur, but that is semantics.A 48 hour closure means that you can trade 24 hours a day for a period of five days straight.A minor point, but I'm sitting here in...

New User Mistake

Well, don't do this!I fell asleep last night before putting a loss limit on my USDCDN position. I could have lost my entire account balance if something disruptive had happened. Bad investor, bad.However, upon dragging my sorry behind to the computer, with much trepidation, I found I was in the positive. So far, FOREX is my friend. I know the shoe will be dropping soon... especially now that...

Result Test #3

Result Test #3 :Buy Gbp/Usd at 2.0130, TP at 2.0220, profit = + 90 pipsBuy Gbp/Usd at 2.0175, TP at 2.0220, profit = + 45 pipsTotal = 135 pipsAugust total profit = + 467 pipsWin = 3Loss = 0Happy trading all ...

First Use Of Limits

Surprise, surprise, I've been involved in yet another trading session. This time, due to my reading, I decided to add a stop and a limit after completing my purchase. I'd never done this before and wasn't sure how easy it would be to do. One more small step on my road to knowing what I'm doing:B USDCAD @ 1.0565S USDCAD @ 1.0571 (L)While not all that exciting, I should mention that I only...

Test #3

Buy limit GBP/USD at 2.0130, TP at 2.0220, SL = 2.0090Buy stop GBP/USD at 2.0175, TP at 2.0220, SL = 2.0035Start from today, I will try to give free signal more frequent so please come to my site everyday at 12.00 am until 4.00 pm (GMT +7)Good luck guys ...

Another Trading Session

I've been doing some reading, while waiting for prices to move up and down so I can get in and out of the market, so it's possible that I'll start to use industry terminology within the next few weeks.The best introductory site I've found so far is the Babypips.com offering. As I learned just the other day, a pip is a single movement point in the price of an issue being traded.Anyway, during...

Lucky Morning Session

This morning I was quite simply very lucky. I had been having network troubles and was not able to watch my position closely for several hours:B EURUSD @ 1.3625B EURUSD @ 1.3612B EURUSD @ 1.3606B EURUSD @ 1.3603B EURUSD @ 1.3597When I did finally get my network fixed, I was sitting pretty with:S EURUSD @ 1.3650 (x5)Wow, I'd just turned $100.33 into $121.03 in a morning. Can you believe the ~...

First Evening Trading

While I'm sure it will prove my amateur status as a trader here are some details of my first evening with my new toy:B EURUSD @ 1.3656 S @ 1.3657B EURUSD @ 1.3647 S @ 1.3651B USDCDN @ 1.0620 S @ 1.0619 ***Yeah, big time gains. Approximately $0.33 in my pocket after an evening of anxiously watching the charts.I learned an important lesson on the USDCDN trades. First, the spread, or the...

About This Blog

Well, believe it or not, I just signed up for a FOREX account. I plan to blog my experiences (whether gains or losses) and perhaps help introduce some other people to this interesting world.Late last night, on the spur of the moment, I decided to create an account, jump in, and get my feet wet. I'll blog about the details later today, but while a little bleary eyed this morning I was $0.33...

Forex day trading - Range of any currency

Forex day trading - Range of any currency pair.After a currency pair has been in a trend for while, it stops for a while and starts range trading. This is applicable for all time frames be it daily, weekly, 15 min or 1 hr or even 5min. Once the currency pair has caught the breath, it starts trending again. The trend can be any direction, however the forex pair mostly goes as per the elliott...

Result Test#2

Result Test #2:Buy limit at 1.9990, TP=2.0150, profit=160 pipsBuy stop at 2.0045, TP=2.0150, profit=105 pipsTotal = 265 pipsAugust total profit = 266+66 = 332 pipsWin = 2Loss = 0Happy trading all ...

Test #2

Buy limit Gbp/Usd at 1.9990, TP at 2.0150, SL at 1.9950Buy Stop Gbp/Usd at 2.0045, TP at 2.0150, SL at 2.0005Gut luck guys ...

Forex day trading - How do you decide the stop loss?

Forex day trading - How do you decide the stop loss?The importance of a stop loss when placing a trade, is very evident. One will not want the entire account balance to come to zero which can happen if stop loss is not in place.But how do you decide a stop loss? Should it be anything?? Are there any factors that decide the stop loss?There absolutely are the factors -1. Foremost is how much can...

Elliott Wave Free Week

Just a reminder:It's FREE Week at ElliottWave.com!!Click here and get your FREE contentFree Week End August ...

Forex Journey Interview on Forex Education

Hey Team!Click here to hear a recent interview I did with Interviews with Prosperity on the importance of Forex Education.Happy Tradin...

Forex Education Tip – 5 Steps to Successful Forex Trading

Close to 95% of all Forex traders will lose money. We're not just talking about novices, either. Whether you trade Forex for a living, as a hobby or just for fun, odds are against your success. That's a simply astonishing fact. However, the remaining 5% of Forex traders somehow manage to break even and there are those lucky few that actually make money in the currency market – consistently!Like the...

Result Test #1

Result Test #1 : Profit +66 pipsWin = 1Loss = 0Good start here ...

Test #1

Buy Gbp/Usd at 1.9841 , TP 1.9907, SL 1.9801 at 09.46 (GMT...

Forex Education Tip - Stops

Let me just give you a quick tip about setting stop losses. I once took a class where I was instructucted to place my stop loss 30 pips below my entry. Why 30 pips I asked? I was told it was an "acceptable" risk. Based on what? I see a lot ot traders basing their risk management strategy on some pre-defined pip value risk without any consideration for support and resistance.Don't do this!Like I say...

The Indicators for Simplicity Forex System

BolingerBands_Stop_v1 (BBStops_v1) can be downloaded from hereHeiken Ashi Smoothed (HAS) can be downloaded from hereSilverTrend_Signal can be downloaded from hereSignalBars_v6 can be downloaded from hereFibo_Piv_v2 can be downloaded from hereHappy Trading...

Forex Day Trading - Pounding by USD

Forex Day Trading - Pounding by USD on all the currency pairsDid you notice what happenned to forex market in last 4-5 days? Yes..The big USD has hit back on all the currencies..No exceptions (There is one - JPY).EUR/USD dropped by 350 pints, GBP/USD dropped by 450 and so on and so forth. This was an excellent opportunity to make some great forex pips. I placed trade on EUR/USD and made 155 pi...

Disclaimer

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your...

Is Paid Forex Education Worth It?

I am scanning the internet looking for information about how I can be a better trader just like most people out there. I am on a quest looking for each and every golden nugget of information out there on the web. I have alerts set up so Google can email every keyword topic of choice.I have been getting fired up recently about the amount of just plain bad Forex advice slewed across the web. It is definitely...