As I Get Better

I probably shouldn't be trading during this period. I know there is thin volume, that moves may not reflect wider market sentiment, and whatever else I should know. However, I simply like to trade. Besides, now that I'm getting better, it's a hobby that can generate an income.One thing I've noticed though is that I'm still too impatient. Basically, my worst batting average will coincide with...

Extraction Strategies

Extraction strategies? What the heck is that?Underwater PsychologyIf you are like anyone else you've found yourself in a trade that is going against you from time to time. You start to imagine reasons why the price could continue to move against you.For example, this morning I was underwater in a position due to the spike in AUDJPY. The price of oil was rising due to the conflict in Gaza,...

Christmas Week Trading Results

Between the thin trading volume and the holidays there wasn't a lot of opportunity in the Forex markets this week.In any case, I did manage to eek out a 7.5% gain in net asset value.This has me thinking. If I was to build up an account balance of approximately $20,000 and maintain gains of 5% or more per week then I'd probably be able to think about quitting my day job.This task seems...

Thin Trading Resistance Test

I'm not sure how significant technical events will be with thin holiday trading. However, the AUDJPY tested the long term resistance mentioned in my previous post.As I write, this pair has been slipping down after what appeared to be a sustained break for several hours (at least according to my chart... over such a large period of time small inaccuracies could lead to misinterpretation).Which...

Post Holiday AUDJPY Strategy

Though trading is probably going to be thin until we get into January I think it's a good time to consider trading strategy.In the short term I expect the following:A test of the long term resistance line showing up on the daily charts from around October 14th until now. This could take place around 62.10 to 62.20 depending on how long it is before the test happens.I'm not sure it will happen,...

3:00am AUDJPY Upswing

Once again, upon waking in the very early hours, I was able to catch an upward movement in the AUDJPY.Though the price did come back again around 5:00am and 6:00am, I certainly wouldn't have been awake to catch those moves.So, strange as it is, I unloaded my positions to the tune of a 1% gain in NAV (Net Asset Value) and went back to sleep all squared away.Happy trading! Zzz...

A Pop And A Drop

In my last post, where I gave an audible AUDJPY signal, I suggested that we were coming up to a decision point for the AUDJPY.My take was that we'd see a drop.It took some patience, but after carefully accumulating a few positions on the way up I was rewarded with a nice quick profitable drop. While I would have done better playing for the pop and keeping an eye out for signs of a drop, I rea...

AUDJPY Signal

Okay, this isn't really a signal, but what the heck. It looks like the AUDJPY is positioned to head downwards on the 3hr, 1hr, 15min and 5min charts.Yes, yes, I know. It doesn't actually mean it's going to do that. However, this does mean it's a good time to do your own technical analysis and see whether you see a reversal or a breakout.Either will ...

Adjusting My Risk

Though I'm very happy to report great earnings progress it also makes me nervous. Not only are my these recent gains a hard act to follow but now I need to adjust the size of my trades.Enter the arena of trading psychology.Trading larger amounts let's you see losses and gains adding up faster. It's harder to resist the emotional forces generated.So far this week I've been a bit hesitant and...

Recent Trading Results

First, some recent results:Week ending 28-Nov: +23% NAVWeek ending 05-Dec: +08% NAVWeek ending 12-Dec: +10% NAVWeek ending 19-Dec: +45% NAVThis is silly! I'm going to outline some of the events that transpired to help this happen.During the week ending 05-Dec I acquired some AUDJPY positions in the 58.xx price range. I had a nice trend line indicating that this was likely to be a support point...

Yen Cross Spike

Guess who was lucky enough to wake up at 4:00am this morning?At around 4:20 there was a massive spike in my AUD/JPY holdings. I'd accumulated some positions on the way up from 58.xx and unloaded them as it made a 63.xx rocket launch. Checking out my news sources it seems that various stops were triggered. Given that market conditions were thin the price went nuts.Anyway, though my open trades...

Where To Go From Here

While I'm getting fairly comfortable with my ability to trade I'm not sure what to do with my blog.To make my blog really useful to others I'd have to spend a fair amount of time on it. Perhaps post charts and so forth with explanatory text. Heck, I have trouble finding time to blog at all given the duties of my full time job, some hobbies, family responsibilities and finally watching the...

Forex Income Engine Bonus and Review

Forex Income Engine - Lot of you are asking me details of the bonus package that I mentioned about in my previous post.Well, I have put up a video that covers the details of these bonuses. You can check out the video at by Clicking here -Forex Income Engine BonusSome of these bonuses are available only in fixed quantities. A lot of people have already taken advantage of this offer. I am sorry...

Catching A Bottom?

I don't know if it will really be the bottom, but I've managed to sink a decent amount of long AUDJPY around the 58.00 mark. There was a long term trend support line right around that point and I went with it.There are two separate positions at that point. Both of them have a protective stop loss slightly above their purchase price.Thought I've been having fun picking off a few pips here and...

Trading Results: AUDJPY

For the week ending Fri 05-Dec-2008 I managed scrape out an 8% increase in net asset value.This week was more challenging, for me, than last week. I seem biased to seek opportunities with gains on the up side. So, on a week with sideways trading and periods of downward drift things slowed down.However, as always, watching my own trades brings insights that might be useful to other traders.For...

Forex Income Engine Review and Bonus

Forex Income Engine is a trading course from Bill and Greg. I had a chance to look at their course and let me tell you it amazing. It covers all the important aspects of forex trading such as Fundamentals as well as a trading stratey which is heavily accurate.It also covers in depth about the important topic of Money management. I m a big supporter of money management.This course is very...

AUD/JPY Trading Week

Well, the last couple days weren't as good as the first portion of the week, but they were still positive. I'm not complaining!Thursday and Friday were positive by 0.4% and 1.1% respectively. So, for the week, that gave me a NAV gain of 23.2% in total.If you've been following along you know that I only have a tiny total account size. However, the current plan, now that I seem to be able to...

AUD/JPY Trading Review

Guess what. Some of the books that I bought have had an impact on my trading. I know, I hear the phrase "No shit, Sherlock" echoing out there. However, so many of the Internet generation want everything to be fast, easy and online that I just have to stress the value of more formal information.I bet you'd also be surprised to hear how many traders are starting out in their teenage years. I...

Forex For The Small Speculator

Today was a banner day for me... trading the AUD/JPY with a return of more than 10% NAV. The market simply walked up and down my trend lines bringing me profits with every pass. How come this doesn't happen more often?Anyway, as a small time speculator I thought I'd outline some issues that we face compared to some of the larger traders:We trade in very small lot sizesTo make any meaningful...

Getting A Forex Education - Forex Books

How many of us in the Forex market simply jumped in the market and started trading? I know that was my path. I tossed a few dollars in an account and figured losing it would be a paid lesson in how the markets work.I can't say that this hasn't been a valuable path. I've learned some good lessons along the way:it's important to let go of losses early so you have enough capital to sink your...

Overnight Rally

I like to imagine I am in tune with the markets. My trading record may not agree with this minor flight of fancy, but nonetheless, it's much more rewarding to have a feeling of control.This morning, waking up much earlier than normal, I thought I'd take a look at the section of the Forex world that I follow... the AUDJPY.Aha, not only did we have a nice rally -- an echo of the DOW futures up by...

Financial Aid Kicking In

As if things weren't confusing enough. Now we have various types of aid programs starting to impact the credit markets. No, the TARP program doesn't seem to be rolling just yet, but commercial paper facilities and other programs are now active.What does all this mean?To me, it means this. If the world collapses your money doesn't mean squat anyway. We'll all be living off of mushrooms grown...

AUDJPY Revisiting Lows

We're down below 63.00 in the AUDJPY market (as I type -- it may bounce).This appears to be a test of the 5+ year low for this pair... google charts. Are we ready for a bounce and the much awaited eventual upward trend?Obviously, I have no idea. However, you can be sure I'm sitting here watching the price action as I type.Right now, we've bounced a bit and are setting up for a possible "twee...

Betting Against The AUDJPY

Well, with commodity prices spiraling down the toilet, it's a good time to be short of the AUDJPY.Look, put an SMA 20 on your AUDJPY chart. Load up the 1HR or 3HR chart. What direction is the simple moving average going?That's the trend.So, if the trend is your friend, what's the best direction to play?You guessed it in one... down!If you know how to draw a resistance line, or to put something...

Trading The AUDJPY

Things are looking much more even-handed today than I've seen in a while.In fact, I was so impressed by the fact that the AUDJPY was following my charts again that I decided to do some trading today. While my account is very small, allowing me to be a bit risker with my trades, I did manage to scoop in about 3.5% of my account's NAV (Net Asset Value) by catching some nice movements.Why am...

Fundamental Market Conjecture

Be warned that for some reason I remain a perennial optimist.It strikes me that a lot of the current analysis is based on credit spreads and other esoteric measurements with an eye towards what current values would have implied during past periods.I'm not saying that this analysis of fundamentals is wrong, but consider this for a moment. Every time something surprising happens we end up looking...

Market Rationality?

With some major changes happening on a global basis it's just possible that the forex markets will return to rationality.For example, the Yen crosses (the carry trades) have been taking off like a shot today. I know I've been mooing about a possible bottom here and there in the face of mass panic and extreme volatility as indicated by the VIX.Was that it?I hope so, but at the same time there is...

VIX Ahoy 2

Did I mention the VIX was high yesterday?I meant that it seemed to be getting a bit heated.Today the VIX is high.Tomorrow? You tell ...

ECB Liquidity Changes

I noticed something in a news item that I read today that I thought I'd share.While the big news is focused on the coordinated drop in central bank rates, the ECB did something else. They also eliminated their auction system. No, no, they haven't stopped providing liquidity, they are just doing it a different way than the standard auction process.What now?They are making unlimited amounts...

VIX Ahoy

So, we didn't have any type of bounce off the AUDJPY recovery support trend line. If you were watching the DOW or the NIKKEI you knew what was happening.At the same time we have a new high water mark in the VIX. Look at that thing. I mean, seriously?The only thing I can really point to that may be encouraging is that these higher VIX levels don't seem to be equating to lower lows in the...

AUDJPY Technicals

I'm looking at my AUDJPY trend line.We've seen some good movement, recovering from the recent meltdown in short order... probably due to the coordinated rate changes.While I like the move I think we're getting to the top of our current trading channel. How we handle the reversal, assuming there is soon to be one, will set the tone of the next couple of days.If we bounce back up on or before the...

Outlook for the AUD-USD - support is in sight?

The AUD has been absolutely hit in the last few months, falling from a high of $US0.985, just short of parity to $US0.6995 in recent days. The currency has since recovered to 0.714. The question is - Is this the bottom? The market talk is that the Australian government, having lead the central bank cuts with 1%, might be looking at another 1% in future. In fact the ECB and Fed are taking the same...

Carry Trade Musings

Did you see the carry trades collapse today?Neither did I.In fact, things looked downright orderly. Nay, they looked rational. Is this a trick or have all the truly skittish abandon ship at this point?Be warned, I'm almost always too quick to look past current issues, discounting the ability of the current situation to cause additional convulsions before passing. However, with that said, I'm...

Aussie, Aussie, Aussie

Oi, Oi, Oi.Yeah, okay, it's a big honking rate cut.Scuttlebutt has it that there might be some coordinated activity in the works, which this RBA rate cut is a sign of.I'm a bit skeptical of this, but you never know.However, with their rate now down "all the way" to 6.00 percent, a very high employment rate and a huge public works infrastructure project in the pipeline, funded by recent record...

Europe Gets Crushed

Well, it's been an interesting 24 hours on the Forex markets.I'd like to say I was on top of everything and made a boatload, but instead I have to admit this has been a lesson style experience. My stops were hammered mercilessly and then the markets dumped me unceremoniously on the pavement. So to speak.I guess the theme of the day is weakness in Europe. Another theme might be strength in...

Seeing Beyond The Bailout

Now that the US bailout package has been passed the question on everyone's mind is what happens next?Nobody knows. Conversely, everyone knows!Once the question of government action has been answered we know that the currency markets will move either up or down. Basically, the only time they are in near stasis is when speculators and investors need the next piece of information in order to...

Close Your Eyes

Okay, so it doesn't look like anything at all is happening as of yet. Personally, I'm scalping the EURUSD on the 1 min chart this evening.It seems that nobody is willing to assume that the house will pass the bailout bill this time around. So, once again, we find ourselves in a state of financial stasis. In fact, given the rise that occurred on the original announcement, it may just be that...

Open Your Eyes

With revived expectations of a bailout package to be voted on this Wednesday evening, it's not hard to spot some double bottoms and double tops on various charts. Okay, maybe not perfect classic formations, but nonetheless, worthy of note.Obviously, there is no guarantee that the bailout package will be adopted. There is also no guarantee that these formations will complete and activate.Howe...

Forex Autocash Robot - The new Expert Advisor

Forex Autocash Robot is a new Expert Advisors. I am finding that a lot of experts are saying good words about it. Infact there is a website that is having a Forex Autocash Robot Review and an offer.The most talked about point is that this software has not lost a single trade in last 8 years 8 months. This is really amazing. I haven't seen or heard any software that has got 100% of winning trades...

Daily Market Action

Every morning, upon waking, I open up my Forex trading platform and look for any major changes in the world of finance.This morning, for example, I see that carry trades have had a bounce overnight.So what, right?Well, wait a minute here. Bounces represent opportunity. If you look at the 1hr GBPJPY or AUDJPY you'll notice some serious signals. Sure, the CCI, Williams %R and stochastics all...

Panic In The Streets

Okay, I'm not going to offer any groundbreaking news, we all know what happened to the so-called TARP program.After the House refused to pass the bill in a bi-partisan manner we saw market participants run for the hills to the tune of a 777 point drop on the DOW. It was quite the day.Did I forget to mention that the VIX closed at a new high? I even think I saw pieces of the sky fall!After all...

Shuffle Off To Buffalo

Is it just me or are the Yen based carry trades in stasis?I might be daydreaming, but it seems to me that the markets are just going to wait around until they find out what happens with the 700 billion bailout program.Have you looked at the 1 hour AUDJPY or GBPJPY? Unbelievab...

Market Uncertainty

While the government prevaricates on what best to implement in terms of a housing crisis fix, the details of the TARP proposal, financial markets are in a holding pattern.Nobody wants to simply assume things will go forward as proposed. However, I'm sure nobody wants to stand on the wrong side of a 700 billion tsunami either.Jim Cramer of Mad Money had an interesting viewpoint on how to deal...

Back To Trading?

During the last few weeks I've been content to play it safe and collect small carry trade positions. However, the markets are starting to act normal, in that they are generally unpredictable but they do seem to adhere to technical indicators a reasonable amount of the time.It might be time to start trading again.Prior to the recent market meltdown I was having some success with my trading and...

Forex Market Deconstruction

Now that the trading week is over I thought I'd write about a few things that came to mind over the last couple of days.Current SituationEveryone is expecting the Fed to come along and put a multi-hundred billion dollar package together with the help of congress. Obviously, this is relieving a lot of the unprecedented pressure on both stocks and various Forex markets. The only fly in the...

Market Panic To Market Euphoria?

I'm not certain that euphoria is any wiser than panic, but I do know that the Forex world has changed.The Fed, Congress and the Senate were meeting earlier this evening and are putting together what is touted to be a comprehensive plan to solve the ongoing financial crisis. Basically, by creating an organization to buy and then auction off troubled assets, the fear and uncertainty in the mark...

Long Term Carry Trade Prognosis

With the temporary loan facility made available to AIG by the Fed it seems that the currency markets are getting back a bit more appetite for risk.The Yen has been dropping and carry trade pairs have floated erratically to more respectable levels. The real question is how the US markets will react tomorrow. I'm expecting the equity markets, the DOW, to do well but I don't know if the carry...

Forex Panic Attack

Well, if it looked like there was some panic last week, it should be very interesting to see what happens during trading this week.I hope you've kept your powder dry! There should be some Forex fire sales happening before long. The tough part is figuring out when the currency markets are finally starting to turn around again.Good luck out there...

Forex Success Formula is Out!!

Forex Success Formula is OutHello everyone..My forex Trading Course is out!! It was launched yesterday and since the launch, the sales are really going well. The reviews of Forex Success Formula are very positiveWhy is that? Thats Because -1. This course contains an amazing swing trading strategy. As you all know I am a big advocate of swing trading. This strategy is really very effective and is...

Forex Carry Trade Bottom?

I'm probably never going to try to call a bottom, but I will point out that there is a difference in behavior since the recent panic drop. Now, we see the Yen based carry pairs bouncing off a resistance point instead of simply dropping as if they are in free-fall.What am I doing about it?I'm glad you asked. My current trading activity involves playing with a bit of a gridding strategy. When...

Stronger USD outlook likely to rebuild savings

The outlook for the US economy is certainly weaker as the Fed steps into a revive the government owned agencies - Freddie & Fannie Mae. These agencies were destined to fail, and highlight the extent to which these government-owned agencies have been used to bankroll US property market investment. Foreclosures will need to be absorbed by the market before we can expect any rebuilding of confidence...

AUD-JPY faces a consolidation period

The AUD-JPY exchange rate is an important indicator of the carry trade. At this point, we are witnessing a consolidation in the AUD after it hit support around Y86. This consolidation is occurring because of the mix of good and bad news facing the Aust economy. The focus is on Australia because we see notthing happening in Japan. No reform, no significant stimulus. Just a reshuffling of party leaders....

Carry Trade Panic Selling?

Did anyone notice the panic selling out there?All kinds of carry trades unwound several hundred points in a very short period of time. Speculation in the Forex news rags suggests that losses due to the falling stock exchanges forced people to unwind their carry trades to cover their margins.In any case, after days of regimented downward movement, the sudden fallout represented a panic moment --...

EURAUD Head And Shoulders?

Are you a Forex carry trader?Don't look now but the EURAUD has completed two out of three components of a head and shoulders pattern on the hourlies.You might want to be on the lookout for this over the next several hours. If it activates it could spell a nice downward move for this carry pa...

Carry Trade Accumulation Strategy

As I haven't seen this forex tactic expressed anywhere else I thought I'd blog about it and share it with my small readership.Are you familiar with trailing stops?This is when you set a stop loss some number of points below the current price and then allow that stop loss to float when the price moves in a profitable direction. Well, I'm not going to talk about stop losses, but the idea is...

Best Forex Trader Return

I see people in various forums asking what the best rate of return is for professional forex traders.What kind of question is that?Do you want an annualized answer based on a great trading day? I could boast a fabulous rate of return if I did that, but it wouldn't be meaningful.How about an annualized rate of return for a trader's best month? No? Maybe some arbitrary consecutive twelve month...

Forex: What Is A Pip?

If you are a beginning forex trader you might be wondering what exactly a pip is. Everyone throws around the lingo but hardly anyone ever stops to give a good explanation that makes things clear for the aspiring trader.Generally, a pip is explained as the least significant digit of a price quote.So, if the US Dollar (USD) trades at 120.19 JPY (Japanese Yen) then each unit of change, such as a...

Carry Trading Thoughts

Today's post is basically a bit of mental exercise concerning accumulating carry trades. If you are looking for serious advice, this post probably isn't it.Anyway, for the two or three people that do follow along, you know that I like carry trading. For today's exercise, let's consider the GBPJPY. Looking at the five year chart on Google finance we can see an absolute range of approximately...

Part Time Currency Trader

As I've written before it is quite easy to become a currency trader. The harder part is being a currency trader that doesn't lose money. You see, according to the scuttlebutt on the forums, about 90% of new traders end up losing their money to the market.Are you thinking about trying your hand?I'm not here to talk you out of it. I myself am a part time currency trader. By day I work at my...

Forex Turmoil: Still On The Sidelines

During the last few weeks of topsy-turvy price movements I've been playing it safe. I like to buy carry trade pairs, but they've been heading down a lot.Now, the big question, when will things start to turn around? A few of the pairs are getting into historically low valuations. For example, take a look at the GBPJPY pair on google finance -- click the 5yr option when it loads.Sure, we could...

Here Comes Forex Success Formula!!

Forex Success FormulaThe much anticipated forex trading course is about to come. I know you guys have been waiting for this come for quite a while.Forex Success Formula is arriving on 4-Sep-08.Let me tell you something about this course. It is a multimedia course that not only contains a fabulous trading system that makes money consistently day after day, but it is much more than that. It covers...

My Forex Trading Course - Updates

Updates on my Forex Trading CourseHey There, do you remember that I mentioned quite a while back that I am going to create my forex trading course?Well, I am glad to tell you that it will come out in the market very soon..sometime this month. I am really busy with that as there will be so much content in it and thats the reason I have not been able to post on this blog very often for past few...

Forex Market Turmoil

My recent excellent trading week was followed by a less than stellar week. Basically, I was caught by surprise when the US markets, and hence the US dollar, started to make a comeback.I've been cutting my teeth in the forex market for over a year now, but this entire period has been associated with a weakening US dollar. The market mechanics seem to be changing around -- so I'm finding it more...

EA Isakas

As a part of my open project, this expert advisor is written from famous strategy based from Isakas thread at forex-tsd.com . Actually, this strategy was not the winner from my poll because the one that suggest it, Marcel, asked me to withdraw it. But the result from poll was different, this Isakas strategy was the one that most chosen by audience. So here it is the Isakas EA. I named it as...

Friday Forex Recap

This has by far been my best trading week...I might have made more in the past but it was admittedly just hit and miss combined with patience. This last week I've been following technical indicators and doing more than just hope for the best at Bollinger boundaries.Sunday PM through Monday PM -- NAV +3.05%Tuesday AM through Tuesday PM -- NAV +2.93%Wednesday AM through Wednesday PM -- NAV +8...

Thursday's Forex Results: NAV +3.9%

Believe it or not I'm not enthused about today's earnings.They just didn't seem to be coming naturally. I don't know how to explain it. The markets have been ranging for the last couple of days so maybe that is what's wrong. I actually closed all open trades a few times today -- just so that I could get out of the market and not be exposed to any risk.Maybe I'm just tired?Anyway, I expect...

Wednesday Forex Gains: NAV +8.2%

Like the title said, today was a great day!A short morning session yielded two or three percent. The rest of the day went very slowly, but I was able to wrestle pips out of the market again and again.Basically, I'm watching charts very closely, looking for setups. I've got some work to do to improve my timing, but in general I seem to have a good collection of indicators that keep me from...

Day Trading and Scalping

Things are still going very well, but I have to admit I haven't been able to pick off huge gains this week. Not yet anyway.Here's the scoop...Sunday PM through Monday PM -- NAV +3.05%Tuesday AM though Tuesday PM -- NAV +2.93%This is okay, but I see large profits left on the table. It's strange, in order to make it easier to pick up pips I'm working on the 1M and 5M charts. This is pretty good...

Trading Week Recap

It's been a great week. I've been able to apply a new strategy dealing with negatively correlated pairs and I've also been able to put together a couple of reasonably successful days by working to curb my greed and waiting for appropriate entry times based on my signals.How successful were these last couple of days?Yesterday I increased the NAV on my high risk account by ~5.6 percent. Today...

Overcoming Greed

No, I'm not here to tell you that I've overcome greed.However, I can tell you how damaging it is to let greed get involved in your decision making process. Generally, it works like this:You see a pair moving in a direction, let's say up, and you want aboard before the big move.You grab a piece of this pair right then, so you won't be left behind.You look at your charts and see that you've bou...

Forex Fun and Profit with Correlations

What is the first thing that comes to mind when you think of Forex trading? I'm willing to bet that it isn't fun.Well, recently I've been enjoying trading a little more than usual.While doing a bit of reading I found a link talking about currency correlations. Go take a look at the charts provided (scroll down a bit). Notice anything? Generally, when a currency pair you are holding rises or...

The USD poised off resistance

The USD has been strong, though it remains to be seen if it will break 108.2. I think not given the weakness in the market. I think the Fed will lean towards a rate cut rather than concerns about inflation. Its first priority will be growth, and whilst it might talk about raising rates to deal with inflation, the reality is that most of the money supply imbalance will be corrected by insolvencies...

Open Project is Ended

After 2 months from the Project started, now we already had a winner for the open project EA. As we can see at the left picture, Kuasa Forex Strategy is the most popular choice but unfortunately it was cancelled due to request from Marcell, the one who brought it into poll. So, I have to stay on the track for eliminating Kuasa Forex and choose GBP/USD Daily as the winner.But don't be worry for...

Weekend Forex Intermission

Though my wife is happy that there isn't any Forex trading during the weekends I certainly wish there was. I enjoy trading but generally don't have that much opportunity to do so during the work week... and I'm anything but a full time professional.So, the past week was fairly successful. Thanks to the recovery in the AUD carry trades I managed to catch a nice downturn in the EURAUD. I did...

HASnSR Clone : Another Portfolio

I wrote this EA based at an EA that was published at a forum (I forgot the name). At there, the creator shared the EA for demo only. After I learn it from the backtest result, I tried to make the clone. Basically, this EA is using martingale system. The difference is the code for trigger function.This EA is one of my portfolio, but I have not write the source code from the scratch. I have...

Forex Annihilation Review - I made few trades using Forexannihilation

Forex Annihilation ReviewAs I mentioned in my last message that I am going to use ForexAnnihilation to find out more about this forex trading software.I received a preview copy of this forex trading software just few days back. Its a little software that runs on Metatrader. Due to this, this software is not large in size and doesn't uses much of the memory.I went through the instructions to...

Forex Ace - My review after placing few more trades

Forex Ace - Over last few days I have placed 7-8 trades using Forexace system. Most of these were on EUR/USD currency pair. Rest on GBP/USDSome of you have contacted me to share my experience with Forex Ace.Out of the 8 trades I placed 5 were profitable in the range of 70-75 pips on average. The remaining trades ended in the loss.In all its a good system.Now some of you have been asking about if...

The USD-JPY - a cautionary note

The USD has experienced some strength lately, though I suspect that is about to come to an end around Y109. The USD did however convincingly break its downtrend, so that is reason for caution, however I would give it until the end of the month to prove otherwise. I believe the coming 2 weeks will be a bad one for the USD. I dont see stronger interest rates to support the USD. Might the US economy...

Simple vs Complicated

There are two different side of traders, one who loves simple strategy and the other who rather to choose complicated. They have their own advantages and disadvantages. From my experience, simple strategy is easy to use and doesn't need much interpretation. Of course, sometimes they give more false signal than the complicated system. The other side, complicated system give less false signal. T...

FXTradePro - Time Filter Version

I got an email from someone who asked for a time filter for FXTradePro - Clone. I think it is a good parameter to enhanced this EA. So, I put a code for filtering the trading time so people can try as much as they want for different strategy with FXTrade Pro trading system.Don't forget to change the magic number everytime you attach the EA to the chart. The number must be different from all...

Keeping an Eye on the EURTRY

I liquidated some profitable short positions in the EURTRY around the 1.9150 price level. While this wasn't the absolute bottom it was well below the current levels -- due to a recent price spike. As the spreads are reasonable during the morning hours I will consider selling a small chunk tomorrow morning if it looks like things are going to turn around.However, the EURTRY is not the place for...

Thoughts on AUDNZD and NZDUSD

Both of these currency pairs have moved a long away against carry positions.It might be time to consider shorting some AUDNZD and going long some NZDUSD. Take a look at the dailies [daily charts] and see if you think some type of reversal is in the works.As always, remember I'm a carry trader, so I'd buy a small position that I'd be happy to hold for the long term in the event that I was...

Consider GBPCHF

It's starting to look like time to consider taking a small bite of GBPCHF. However, you may want to wait for a bit of strength before taking the leap...

Learning To Love Stochastics

Many of you trading in the Forex markets know that the difference between success and failure lies in the probabilities.What is the probability that your speculation will be correct?The more often that your positions are correct the more profitable you will be. This is part of the reason that so many bozos are busy promoting supposedly infallible commercial signals. Seriously, if their signals...

AUD-NZD breaks previous highs

The AUD is fairly strong at the moment due to the strong export revenues from coal, iron ore and gold, and metals in general. The agricultural commodities are also providing mixed support. This is one of the reasons why the AUD is strengthening against the NZD of late. The other reasons are the interest rate differential is opening up. NZ interest rates are showing signs of peaking and growing inflation...

Choose Your Favourite Strategy

Ok, time for collecting trading systems is finished now. There are a several trading systems which seems so interesting to be programmed as EA. I list them below with the detail.1.Advanced System #1 (Midnight Setup) / Gbp/Usd Daily StrategyDetail in English : http://forex-strategies-revealed.com/advanced/midnight-setupin Indonesia : http://daily-gbpusd.blogspot.com/2.BGX strategy from Hulubalang...

The USD-JPY on a knife edge

One of my readers from Japan Forum was highlighting the fact that the USD has been strong lately - contrary to my few that it could be heading to Y85. I retain the view, and gave him the following response:I think its premature to say whether I still believe the USD-JPY is going to Y85. My reasons for weak USD are that I think US Fed will lower fed rate to 1% as before, concerns about an election,...

Reiterating AUD support

The merits of the NZD are however overshadowed by the outlook for the AUD. The AUD:USD offers better exposure to commodities for several reasons. I think the Australian food commodity export prices are rising faster than NZ food exports, Australian natural gas exports cover its oil imports, making it effectively a slight net oil equivalent exporter. Subdued property market is slowing consumption...

NZD makes sense as a carry trade

The NZD has been having a rally of late. If you focus on the negative press you might have thought otherwise about holding NZD. The reality is that a weak domestic economy is good for the NZD since it undermines credit growth and domestic consumption, which in turn reduces imports, whilst exports remain resilient. NZ has the benefit of being a food exporter, so it should benefit more in future as...

Forex Ace Review - I made a trade using Forexace

Forex Ace Review -I made a trade today using ForexAce on GBP/USD currency pair. Since it is a mechanical trading system, it was very easy to understand and use.My trade was open for 3.5 hrs and it closed with a profit of 56 pips.However I would like to place few more trades before I'll recommend it.But if you are thinking of buying it, please feel free to buy through my link. I'll give you the...

Forex Day Trading - I made a mistake

I made a mistake..No its not in any Forex Trade.Remember, in my last message, I mentioned that I am going a free ebook to anyone that buys Forex Assassin through my link? Well..They all got this ebook for free. This ebook contains a very amazing strategy that makes me more than 100 pips each week.But, then I remembered that I haven't given this ebook for free to people who bought my other...

Westpac second to call $A-greenback parity

According to the SMH Online "Westpac has become the first major Australian bank to predict that the Australian dollar will achieve parity with its US counterpart". Having forecast that the USD parity twice in the last 2 months, I'm glad the banks finally recognise the reality. I was hounded on Japan Forum for my bold forecast. The error of many was to overstate the importance of the current account...

AUD-USD going to parity with USD

I have long argued that the AUD is moving towards parity with the USD. I can see the AUD rising as high as 1.05USD, however I remain to be convinced of that. Technically the AUD looks like gathering momentum, and I see the Fed keeping interest rates low in the lead up to the US presidential elections. Post-election I actually see US interest rates being raised aggressively, which will send the AUD...

EUR-USD returning to USD1.60

The EUR-USD is set to rally again to USD1.60 based on technicals. The EUR is currently lying at USD1.55 support. -------------------------------------Andrew Sheldon www.sheldonthinks....

AUD-JPY will break Y100 again

The AUD has had a good run against the Yen as expected. Although I can see short term delays breaking Y100, I actually believe the AUD is going to return to its previous high of Y108. At this point it will be sold off. The outlook for the AUD is going to remain positive. Strong capital inflows is supporting the market, whilst high oil prices and higher interest rates are helping to curb spending....

Open Project : Starting

I would like to start an open project to make an EA. This project is opened for everyone who has a profitable trading system (would be nice if you have a proof) but please remember, this EA would be shared to everyone including your system. Everyone who has an idea about a trading system that is worthed may post it as a comment in this post until the end of this month (May 2008). Then I will...

FXTradePro EA : Fixed

I got some input from friends who use this FXTradePro EA from my previous post about huge log file that was appeared after they used this EA in live trading. After check it, I found a function that may cause the problem. Now I upload the new file that is already fixed from that bug.Thanks for everybody who gives input. Hope you will get more profits with this EA!Link to download the EA...

USD is close to Yen resistance at Y105

The USD-JPY has reached an important resistance level and appears destined for a sell-down. The USD has rallied to Y105, but it has yet to break out of its downtrend. The prospect of a higher US interest rates would be a possible reason for this to occur, however I dont see higher Fed rates just yet.Still looking for the USD to fall to Y85.------------------------------------Andrew Sheldon www.sh...

How To Start An Automated Online Forex Trading System (End)

If you have read my previous posts about starting an automated online forex trading system, then you should read this post because this is the end of all our discussions. So, the last question is how much Return Of Investment (ROI) that we will get for this automated system? We must take care of our trading as investment, so don’t lose it and count the profit. Total Cost for Starting...

USD-JPY still Y85-bound

The chart attached shows the USD staging something of a recovery against the JPY. I see this as a short term recovery. So short term in fact that I think as we go into today's trading I am expecting the USD will be sold off. Why? Because the USD has retraced to the previous resistance level it breached. The next major support is Y85. It will go to that level because the market knows that in an election...

EUR-USD heading for USD1.70

Looking at the chart its apparent that the EUR-USD is going to USD1.70, at which point it will do a double bottom. I would then expect it to return back to its normal trading trade. The technical reasons for this are the strong symmetry evident in the chart. The USD has a 'parityband' between USD1.20-1.35 and has traded within 35c of that band. I am sure the market will be looking to retain that symmetry....

AUD-USD set to break resistance at 95c

Looking at the AUD-USD its readily apparent that the AUD is not about to fall back as many pundits are suggesting. In fact I would suggest its building momentum for an assault on 'parity' with the USD. Clearly breaking resistance at 95c is the next hurdle.I have already suggested my reasons why. The only reason for thinking this would change is one factor only - the strong inflation numbers. But I...

How To Start An Automated Online Forex Trading System (3)

Here we are, the main part of Automated Online Forex Trading System. This is the brain of all components… like the driver of a car. Until this post, we already knew about reliable VPS for traders and how to select a broker for automated trading. I hope you already understood those previous articles, so this main section would be easy to follow. Ok, I will explain how to choose a good, safe, and...

Do you have what it takes to become a successful Forex Trader?

Forex trading, or any trading for that matter, is an occupation that requires experience and the accumulation of proficiency not unlike any other highly skilled profession. Whether you are a leading executive at a major publically traded company, a professional golfer or trading from your kitchen table, there are 5 key ingredients that one must possess in order to become successful.1. You must be...

How To Start An Automated Online Forex Trading System (2)

In previous post, I have explained about reliable VPS. After choosing the right one, then we are going to the next step. This time we will select some good forex broker companies that suitable for Automated Forex Trading. Why do I choose this topic? That’s because not all forex brokerage are using a same trading platform. There are Meta Trader 4, Ninja Trader, Virtual Trader (VT), Trading Stat...

Trading The EUR/AUD

I've spent the better part of a year focusing my attention on the AUD/JPY. I think it's time to start looking into other pairs...Last week I started trading (shorting) the EURAUD.The EURAUD is another pair suitable for the carry trade. [For you beginners, some currency pairs earn interest while you hold them. Those that do allow you to participate in the so-called carry trade. See my recent...

Forex Roadmap

Do you have a roadmap?Over time it is easy to lose your way. You may forget the current trading ranges of some currencies. You may forget long term position viewpoints that you had previously determined. Frankly, things get hectic at times, and you don't always have the luxury of spending all day reminding yourself about previous conclusions. Some pointers can be very helpful.Here's an...

The AUD and its widening trade deficit

I maintain that the AUD will remain strong and that the widening trade deficit is symptomatic of a strong economy. A widening deficit is a basis for higher interest rates, whilst job losses in the USA are justification (a rationalisation) for lower rates in the USA. Regardless mortgage rates will not stay low in the USA beyond 2008. The subsidisation of the bank's short term loan requirements is an...

The outlook for the AUD

Contrary to the belief that the AUD will weaken because of softer global economic activity, I believe the AUD remain strong against the USD, and to a lesser extent against the JPY. By that I mean I expect the AUD to reach parity with the USD and for the AUD to eventually break Y90. I don’t rate the high personal debt levels in Australia or NZ as a significant obstacle, though they are certain to cause...

How To Start An Automated Online Forex Trading System (1)

Many friends of mine often ask me about how they can start a full automated online trading system in forex. Yes, every trader dreams about automated trading that will release them from this routine activity. Even that they are succesful traders in manual trading, they know that someday they will have to go and let robot to replace their position for trading. Everyone dreams about retire yo...

Backtesting EA : Is it a Myth ?

For a relative long period, I have wrote several EA’s and try to backtest them in purpose to find wheter they are profitable. Some coder gurus have posted about procedure to get better backtest qualities. From getting tick data from Alpari’s website until disconnected MT4 platform have already done by me. I already got 90% backtest quality using Alpari’s tick data. The sad news is, almost (let...

The end of the carry trade

I see no sign that the carry trade will end soon, in fact I think its as strong as ever. The critical issues are:1. Japan's growth prospects depend on local deregulation and/or immigration2. Japan's interest rates are linked to its mercantilist trade policies - that will not die until the USA makes it an issue. It might well be a concerted effort by EU/USA that makes the difference given the recent...

Forex Assassin - All those who bought it!!

If you are a Forex Assassin system buyer and if you bought it through my link, then you should have received another email yesterday. Please check your email account that you used to buy the system. In my latest email, you should have received instructions on how you can get the access to the strategy using which I generate about 150 pips each week.Most of the people who followed the instructi...

Outlook for the AUD - a brave man's forecast

Reading some commentary on the Australian dollar I seem to be at odds with most of them. The SMH asserts “The Australian dollar may fall 7% in the next two months as commodity prices weaken and global equities decline”. The AUD reached a one-month low of USD90.97 last Thursday, down from its high of USD94.98 on 29 Feb 2008 – last reached on 29 March 1984. The argument for a weaker AUD is “The commodity...

March AUD/JPY Free Fall

On February 27th the AUDJPY reached 100.41 at it's highest. Less than a month later, on Mar 20th we got as low as 88.18 for a short period of time. That's a difference of more than 1200 pips in approximately 3 weeks!There's no way to be sure, except to wait and see how things turn out, but on the 16th we hit 88.16 when the AUDJPY bottomed out. At the very least there is some healthy resista...

The USD-JPY soon to test Y100

The USD-JPY has recently found some support at 96.5Yen, though I still believe the USD is going weaker. I was actually surprised by how easily the 100 yen level was broken. Maybe it was just a reaction to the Bear Stearns failure, but I think the market is going to need more convincing that other financial institutions are not going to fail.There might also be some market trepidation with the US presidency...

Forex Assassin - All those who bought Forex Assassin!!

Forex Assassin - If you bought this system through my link, please read this.1st of all I must Thank you to buy it through my link. You must have already received an email from me. Incase you haven't checked our email, please do so. Incase you haven't received mail yet, either check your spam folder or you'll receive one today.Please don't forget to add my id to your address book as this will...

Trust Yourself

When you turn on the TV (especially mainstream media) you are inundated with news of the demise of the dollar. Business news, national news and even your local news channels are leading into events with reports of the dollar and the economy. Analysts are featured and opinions are smattered across the airwaves in an attempt to provide an oracle response to current economic events.Beware the source...

Trade the AUD from Y90 to Y100

The following is a discussion I had on Japan Forum. Got a debate going on the outlook for the AUD against the Yen.[QUOTE=tanmedia]If NZ and Australia have a debt crisis, there will be pressure to cut interest rates. The Reserve Banks of both countries are between a rock and a hard place at the moment.Rising energy costs yet some of the highest debt in the developed world.[/QUOTE]No question there...

How to Adopt the Traits of a Successful Trader

Hey Traders,Here's a post by Heather Johnson that will serve you well in your trading – Enjoy!--------------------------------------------------------------------------------------------------Not all Forex traders were cut from the same cloth, but the most successful investors do have several things in common. Whether you are a newcomer to trading or you are a seasoned pro who is trying to improve...