FREE FOREX SIGNAL 2 JULY 2008

Trade at your own risk

Short GU @ 1.9950 or better

Short EU @ 1.5800 or better

Update 3/07/08

Short AU @ 1.9600 or better

Update 9/07/08

GU closed all position
EU TP 1 post
AU TP 1 post
Direction stays but correction is coming. Time to manage your SL

FREE FOREX SIGNAL 9 JULY 2008

Short Usd/Jpy @ 107.40 or better
Short Gbp/Jpy @ 211.75 or better

This may be a short term trading signal.

Previous signal still holding and in profit.

Update 11/07/08

Short Eur/Jpy @ 169.00 or better

All GU, EU and EU post closed. Looking for reentry point.

INTERNET CONNECTION IN MALAYSIA

Currently my Streamyx connection at home is making me sick. Everytime there is a change in temperature the line disconnect. I have done a lot of complaint to their customer service and nothing has been done to rectify the problem. At the moment no point complaining, nothing can be done to save Malaysia monopoli broadband company Streamyx by Telekom Malaysia.

As for celcom, I am currently using it everytime Streamyx fail, which is most of the time. Sorry to say, Celcom is not much better than Streamyx. Service is below satisfaction with data coming in at a very slow rate and is not constant.

Looks like I am going back to stone age here in Malaysia. With the current political warfare, dont know what will happen. Just can watch and see and pray.

This week is a good week for forex. Huge profit in the bag. Currently looking to short GU, Eu and AU. Entry point is already here but its friday. Better wait for next week for reentry. I will post reentry next week and hope for profit as this week.

MARKET REVIEW 14 JULY 2008

Its Monday again with Forex entering super slow motion. Last week we saw a decline in USD despite double good news on friday. It is what I call pushing the market. Someone or a group of people with lots of money is pushing the market opposite of the direction of economic news. This sometimes happens and there is nothing we little fish can do about it but there is a good news. No matter how much you push, it will eventually follow its direction. Forex is an economic instrument afterall. It is influence by supply and demand as well as speculators.

Last week we saw Eur and Aud being the strogest of them all. As a result both has gain over Usd and Jpy making new high but the way I see it, it is a temporary move. The main move is for Usd and Jpy to go higher resulting a fall for Gbp, Eur and Aud being Gbp will be the most affected.

So this week I will be looking to short all Gbp/Usd, Eur/Usd, Aud/Usd, Gbp/Jpy, Eur/Jpy and Aud/Jpy. The question remains is the entry point. From my currenty view entry would somewhere around last week high.

Happy trading and remember to manage your risk at all time. If you are a scalper you may take entry on the downhill movement. As for me I will take top and bottom.

FREE FOREX SIGNAL 15 JULY 2008

Finally, entry is here

Short AUDUSD @ 0.9720 or better

Short GBPUSD @ 1.9950 or better

Short EURUSD @ 1.5940 or better

Short GBPJPY @ 211.75 or better (Same signal as last week)

Another entry has present itself

Long USDJPY @ 104.00 or better. Closed @ 106.80

At the moment these are the best possible entry. Need I remind you that my style is for me to take top and bottom. This style may not suit some of you. Trade according to your own style and margin. Manage your money and risk properly.

MARKET REVIEW 21 JULY 2008

Its Monday again with Forex entering super slow motion. Last week position of UJ has been closed with 280 pips profit. Position of GU, EU, AU is still holding.

This week I will be looking to short Jpy pairs with no.1 choice of Gbp/Jpy. GJ is expected to reach last week high again and thats is where entry point begins. As of now I would short GJ @ 213.50 or better. Meaning you dont have to enter at the exact point, just watch the strength and enter when market is turning.

I will post signal later for confirmation. In the mean time go do something else. Its monday, no forex magic happens on monday.

FREE FOREX SIGNAL 23 JULY 2008

Last week signal for GU, EU, AU and Ucad is still holding. This week a short term trade signal is generated

Short Gbp/Jpy @ 213.90 or better

PERFORMANCE JULY 2008

As of writing I have closed all position and I may not trade again for this month. Tomorrow morning I will be going to Tawau by road. It will take 8 hours of driving and will be in Tawau till the end of the month.

I hope all of you had a good month of trading this month. My system generated a total of 17 signal this month with accuracy of over 90%. Attached is my statement for this month. Feel free to study it.

STILL TRADING BUT NOT SERIOUSLY

Currently staying at Belmont Marco Polo. Room is ok but have wifi. Guess what, I brought my laptop along.

Early morning open the chart and couldnt resist looking at UsdJpy doing double top. Now shorting UsdJpy from 107.90.

At the moment EurUsd is also turning and will continue its journey down. Something to look for tomorrow morning. No signal for this week coz I am on holiday.

TAKE YOUR PROFIT AND RUN AWAY

As of writing, UsdChf is at its peek. It may go up again but I dont think there is much to go. It is time for any of you to take profit and run away. EU, GU, and AU is at the bottom and UChf is at the top.

I am currently holding UJ only @ 107.90. A long wait before it can profit since UChf is at turning point.

FREE FOREX SIGNAL 2 MAY 2008

Its Friday so it is a bit late to be giving signal but sometimes things take very long time to settle down and give clear direction

Short GBPCHF @ 2.0700 or better
SL @ 2.0775
TP 2.0566, 2.0506, 2.0414

Long EurGbp @ 0.7830 or better
SL 0.7796
TP 0.7865, 0.7883, 0.7910

Back To Trading

Its been a week. I can barely trade coz Celcom 3G Internet is slow as hell. Now I am back home so time for some serious trading.

The last 2 signal of GbpChf and EurGbp has given some profit. Its time to exit untill a new signal is generated. This is because in long term trend is the opposite of the signal Ive given.

I will post signal next week when the market open to avoid holding -ve post due to trend continuation. See you next week

FREE FOREX SIGNAL 13 MAY 2008

GbpUsd
Long GbpUsd @ 1.9450 or better
SL This is the hard part. Figure it out yourself

EurGbp
Short EurGbp @ 0.7950 or better
SL on your own

EurGbp has just reach its peak. Now it is entering ranging zone. So we could see a few swing before a new trend emerge. Furthermore it may make a new high. The entry that Ive given is based on current time.

GbpUsd has been swinging for the past few days and has hold its low. If it failed to break the last low, it will have to make it way up. Hopefully

NZDUSD, YOU MAKE MY HEART BEAT FASTER

This morning we have a couple of big news for NZDUSD and guess what. Its a bad situation. Currently I am holding long post at a loss. These things happen a lot where technically NU is ready to turn but due to economic news it continue to slip down.

Hopefully the drop is not by much since its already in an oversold condition. So I will continue to hold the loss position and hoping for a positive move soon. It may be next week since the news effect really delay things.

For EURAUD, it has enter the overbought condition. Technically it should turn somewhere soon. For today entry for short is at 1.6619. It is an estimation which is hard to do since this pair has a very wide spread and agresive movement.

Signal is getting close

Last signal of trade. All closed. Gbp is in an unhealthy condition. It swings too much causing it to hit SL before the full range is hit.

This week I will be looking at AudUsd, NzdUsd and AudJpy very close. Looking at things a new signal may appear tomorrow. For today, its time to rilex.

Free Forex Signal 21 May 2008

Today is your entry day. Think nothing else but entry for AudUsd, NzdUsd and AudJpy. Its going to swing wild and may give you a few entry opportunity

Short AUDUSD @ 0.9574 or better

Short NZDUSD @ 0.7741 or better

Short AUDJPY @ 99.50 or better

For those of you still holding GBPUSD long, you have until tomorrow to take your profit. GU is heading into a slow down and only time will tell the next move.

BACK TO BASIC - THE TALE OF CANDLESTICK

Candlestick is a method of reading the market based on pattern. If you search the net which I suggest you do, you will find a lot article on candlestick pattern. Do your reading to understand it and what happen to the price that forces a certain pattern to the candlestick. What type of pattern you need to remember and how to use it. I personally only remember 3 types of pattern. They are doji, hammer and engulfing pattern.

What I am going to tell you today is a different story about candlestick. A different way how to view them and how to use them. It may not be 100% accurate but it is enough to make profit and stay profitable in the long run.

Apart from 3 candlestick pattern which I remember, I see candlestick as a momentum indicator. Would it be nice if you can have 2 strategy from a single indicator? Like me I use 4 indicator and when they combine I have 8 strategy combined into 1. Candlestick, Moving Average, RSI and Stochastic all put on top of gridlines.

A DIFFERENT VIEW

Imagine that the price is an invisible, self propelling arrow. You cannot see it and surely you dont know where its going but when it moves, it leaves trails in the form of candlestick. If the arrow is moving too fast, we will see long candlestick. The arrow itself has momentum once it moved, so it will take time to slow down and turn. In short, a long CS indicates the arrow is moving very fast and will not turn soon but because forex is influences by many things we see the arrow just turn at certain point leaving CS pointing up or down here and there. Those CS that points up or down is a clue to where the arrow is going.

ALL TALK NO ACTION IS BORING

Now lets see some example, refer the last NzdUsd Hourly charts that I posted on Trade of The Day. Look at the drop when NU breaks the red line. Long candlestick pointing down. Meaning it is at full speed and will not stop. At the 1st correction, we can see that the lowest CS is a bull CS but because the bull CS is shorter than the previous CS, it dont have enough force to stop the arrow instead it only slowed it down. Then we can see all the next correction has bear CS pointing down including the last low CS is a bear meaning price will break the last low but it is slowing down. At this point, it is a very good idea to exit for us technical small fish else we may get fried during price swing.

According to NU charts, I forecast that NU will break the last low of 0.7834 and will make it way to 0.7800. This is because turing point usually happens at big numbers as the last turning point happens at 0.8100. My theory on this behaviour is that master traders that have lots of money are so busy counting money, they dont bother looking at price with small number at the back. So they focus on big numbers such as 0.8100, 0.7800 or the least 0.7850. Those 2 digit at the back is what we small fish are eating but they take the 1st 3 digit. How small and insignificant are we??

Forex Mentor

A few friends asked me if I can teach them the proper way to trade. To be profitable and to stay profitable in the long run. I was thinking of publishing it here but some of them do not agree to the idea and suggest that I show them how I trade live in real time and for that reason, the article on how I trade now will not be fully published here. There will be one indicator excluded.

As for those who wish to learn from me, do contact me via my phone and suggest time and place for the class. All I asked is 2 hours of your time and some willingness to absorb the knowledge Im going to give.

It is possible to learn my trading method in 2 hours. It is 90% technical + 10% fundamental. 4 indicators only with total of 8 method to read it combined into 2 trading method to cover trending and ranging market.

All I asked in return is willingness and time to learn, maybe buy me some drinks or something. You cannot expect me to talk for 2 hours without drinks. So find a good place with wifi, bring your laptops and notebooks, spare 2 hours and dont forget to buy me drinks.

Trade Opportunity

I will list trades that have good posibility of profit outcome. No matter how good the posibility, there is always risk involved. Manage your position and use SL appropriately.

Short UJ @ 102.60 or better
SL 45 pips from point of entry

Short GJ @ 205.00 or better
SL 80 pips from point of entry
Better get the entry right, that is one big SL

EU and GU has gone uptrend but still in ranging mode. Trade according to RSI

Who is Willcare??

In the world of Forex, Willcare is a name known to few. I just heard his name this week. He is going to run a seminar on forex this weekend in Sabah. A few friends asked me if I can find out anything about him.

After searching the internet, I found nothing on his trade method. No a single article or picture giving a view of his method. Some people say he is a millionare but for me its no surprise.

He charge RM1200.00 to attend his class and limits the number of students to 50 per class. Last month he ran 8 classes. Lets do the math shall we.

1200 X 50 X 8 = RM480,000.00
That is his income for last month. Do that 3 months and you are a sure millionaire. Simple and easy as abc - 123.

The logic is if you are a millionaire born out of forex why go to the trouble of going all over malaysia and teaching. Wouldnt it be easier just to trade. After all trading forex made you a millionaire.

If you are a millionaire born out of forex, why charge so high and making it available to everyone. Your system claims to have 300 - 500 pip a day. If you trade only 10% of your capital that is a return of 30% - 50% a day. Do the math for a month and you have 900% - 1500% a month return. Thats a lot of money no matter how you look at it. With that much money, why charge RM1,200.00 for the class or money is never enough. If money is never enough, then forex is a wrong place to start with let alone teaching it to someone else.

Anyway this is only my view on someone who claims to be a millionaire born out of trading forex. There are a few forex millionaire and none that I know of giving class with such a high price. I even had an offer from a forex millionaire to learn from him with the price of nothing. Just go see him and he will teach how to trade and be like him and pay nothing in return. Because the money I am going to pay him is nothing compared to what he has now.

Free Forex Signal 8 April 2008

Here goes, what ever you do, manage your position and use SL properly.

Short Audusd @ 0.9300 or better
SL 25 pip

Short NzdUsd @ 0.8000 or better
SL 20 pip

Happy trading.

Slow and Steady she goes

At the moment EurGbp is at 0.7983. It has turn down and slowly gathering momentum to continue its journey down hill. Anyone care to join the journey? Its a slow and steady journey if you follow EG.

GU has turned up. Unlike EG, GU is full of swing and spikes. Those swing and spikes will kill those who do not ready for it. Trade carefully but trade up hill.

GJ aslo has turned up and like GU it has even nasty swing and spikes. At the moment I fear that GJ will has one more swing down before making its way up again. Trade carefully but trade up hill.

GbpChf also turned up hill. Just follow it but beware of swings and spikes. All Gbp pairs have them.

So far so good.

This is a screenshot of my live account performance at marketiva. I have to hide some data but what available is enough to show that I am having a good trade so far.



It was taken today. Hopefully things will improve further and I am ready for the big trade. After all I am almost at my 2 year mark.

MARKET IS UNDECIDED

At the moment market has no clear direction. For the past 6 days it has been running on ranging mode at the moment the price is in a squeeze. I have to take exit step in order to avoid break out panic. I am trying to close all my post and in order to do that, I have to take some loss.

It is unavoidable in these market situation. For those of you who has been following my signal, most probably you are making some profit but in the end, like me you will have to give some back.

At the moment it is adviseable to stay aside until a clear direction present itself. Happy trading everyone.

FREE FOREX SIGNAL 18 APRIL 2008

Here goes:

Short USDJPY @ 102.60 better
SL 25 pip from entry
TP 102.20, 101.50, 101.10

Short EURJPY @ 163.10 or better
SL 50 pip
TP 161.70, 161.00, 159,70

Thats it. Remember to get the best possible entry and always use SL

FREE FOREX SIGNAL 21 APRIL 2008

Short AudUsd @ 0.9400 or better
SL 30 pip
TP 0.9335, 0.9280 or wait for close signal

For the time being, that the best entry. Will update later. Earlier signal of UJ and EJ at a loss. Signal is given too early.

LOUSY STREAMYX. TMNUTS
Ive been using Streamyx for over 2 years now. All I can say is look at what monopoly has done to us.


At the moment I am surfing at 32 kbps. That is blistering fast or is it? Currently my streamyx speed is slower than a dial up modem. Talk about super fast broadband. How lousy can you get??

MONDAY MORNING FOREX BLUES

EurUsd
EU has turned up this morning but it is not adviseable to enter just yet. There are 2 places to enter EU, they are 1.5620 or 1.5520. Possible safe trade is to wait for EU to go lower than 1.5620 and make a stop order long @ 1.5620. It that way if EU actually goes up it will hit the stop order on its way up and hopefully a zero SL trade.

NzdUsd
NU is much like EU has turned up. Possible trade is long @ 0.7825. Wait for price to go lower and put a stop order long.

GbpChf
GChf has turned down. Currently not in a clear downward move. 2.0530 is entry for short. Preferably wait for price to exceed that level and put stop order short.

Fuel Saver

This is a different topic, but it is one of my hobby. Its about cars.

Basically cars need 3 things to move that is fire, air and fuel. This 3 things combine gives the car power to move. If you want to optimize the car efficiency you need to work with this 3 things mainly.

When we talk about fire, the electrical system, fire from the spark plug is the element that make the fire. It must be working at its peek for the car to feel good.

For air is anything that requires air to move, exhaust system, air in the combustion chamber, air filter, tyre pressure etc.

Fuel, is petrol or diesel in the tank that feed into the engine.

Of all the 3 parts, fuel is the hardest part to optimize. We can always use bigger or better injector but the result is not very good in terms of fuel economy.

A car that is optimize should be powerfull and fuel economy at the same time.

Recently I found a device that optimize the fuel. Logically its a hard thing to do. Fuel in form of liquid and it optimize the fuel and maximize the burning process resulting in increase power and fuel economy.

I was sceptical at first but I bought it anyway. No harm trying with price tag of RM250.00. Put in on my car.

Test Subject:
The test subject is a small car. A kancil fitted with Daihatsu L2S engine. 660cc turbo charger automatic. This baby is so small and lightweight yet has so much power. It can go head to head with the latest honda civic 1.8 on drag race.

An old car with 4-AGE engine. The latest engine from the 4AG family of toyota. 1.6cc, extremely powerfull and super responsive compared to older version

Waja with 1.6cc engine automatic. One of the best Proton ever built. Engine power and road handling equivalent to many european cars. It is based on Lotus technology anyway. No surprise.

The Spec:
Daihatsu Mira TR-XX Turbo EFI 12 Valve Limited Edition L200S:
Engine ID : EF-JL
Engine Model : FMPX-S2(L200S)
Engine Type : Water Cooled,4 Stroke,Inline 3,SOHC 12 Valve Turbocharger,3 Cylinder
Bore x Stroke : Same
Fuel System : Multi-Point EFI(Electronic Fuel Injection) with ECU(Electronic Computerised Units)
Cubic : 659cc
Torque : 10.9kg at 3,600rpm
Hp : 64 at 6,400rpm
Boost Pressure : 0.8bar
Top Speed : 170km/h to 180km/h
Weight : 750kg
Spark Plags : Nippon Denso = QL22TR-S or NGK = BCPR7EKD
Turbocharger : IHI Turbocharger
Average Fuel Consumption: 6km/RM1

Test Result:
After installing the fuel saver. 1st tank of fuel gave me 7.4km/RM1. Thats a savings of about 12.3%. Not a big number but I must tell you, throttle respond is fast. Its like a cheetah waiting to be unleashed. Everytime I push the throttle, the car just jump away. Maybe thats why I dont have good fuel economy, I was driving like a maniac.

Btw I forgot to mention. The spec upthere is the standard spec. After a few modification, the car is transform from a car for grandmother to a racing car. 0-100kmh in less than 10 seconds.

I will update on the other 2 cars later. At the moment Im still crazy with the throthle respond and jumping away everytime I wanted.

Back to Basic

In anything we do, when it comes to problem solving. We must go back to basic. We must understand the basic and solve the problem from basic and improvise in between.

When it comes to forex, we must do the same. Forex nowadays have become so complicated with advance platform, charting and indicators. We can easily become lost in all of that.

In order to understand it, we must look at it in the simplest way possible. Use the basic at it full extend and onl LPG y after that we can advance to the next level.

In this few weeks I am going to post a simple system consisting of basic chart with no indicator at all. Only after we understand the basic will we add on indicators to improve the accuracy of trading. In the end we will have a few system combine into 1.

No matter how good a system is, it will all goes down to the trader. In order to learn something new, we must first change our self. It is by far the hardest part to do. It is where most traders fail.

Back To Basic Part 1 - Lets Get Naked

When we are born in this world. We are all born naked. We do not carry money or bond certificate or even Rolex watches. All are born equal. It is what we do when we are growing up made us what we are today. Some are powerful men while others, just a waste of time.

When we start in Forex, most of us started at the same place. A blank chart with candlestick and grid. Simple and clear but because of greed, ambition etc, most of us jump straight to advance system. Advance system with colourful indicators here and there and through all those we forgot to pay attention to the very basic of Forex charts that is ..... PRICE.

THE NAKED TRUTH



What you see above is the very basic of forex charting. Its candlestick and grid. Plain and simple yet how many of you actually take a look at it and try to understand it. Not much in it yet not many people care to look at it and try to understand it. Let me lay this out one by one.

First we have the grid. Its the horizontal line with price at the right side. When we talk about forex, price is the most important thing...period. If Forex has no price then I wouldn't be here wasting my time for nothing. Its the soul purpose of trading forex. If you look at the chart closely, you will see that I have traded short with 2 take profit point of same place but at different time. You can also see where my stop loss and take profit was. That's why I love Marketiva charts. Its shows you everything.

The chart is divided by the grid with many horizontal line. Each horizontal line has its own price and the grid changes according to the market. If the market is active, the grid will become bigger and vice verse. If you look at the chart properly, you will see that the price actually responded to the grid. The price will move up and break the line one at a time during slow uptrend and break a few line at once during heavy trading. Now, the question is what can we do with that behaviour?

Let me explain to you my previous short trade. When and why I took the trade. I entered GJ short at 200.40 with 2 position and immediately put stop loss at 201.00. During my last entry the grid was at 200.40 and the top line was at 200.98. That is 58 pip grid wide. Meaning that my stop loss and take profit will be at 58 pip each. So I took the short trade at 200.40 with SL @ 201.00 (rounded numbers, easier to remember) with 1st TP @ 199.80 (rounded number to nearest line). My 1st TP was hit and closed 1 position. The 2nd position SL was moved to 200.41 and eventually 199.80 when price broke the next line.

Its all about numbers. 199.80, 200.40 and 201.00. What a coincidence. They are all 60 pips apart. Meaning 2 post win at 60 pip each, so far tonite I got 120 pip in the bag from grid trading alone. Currently I have a stop order to short GJ @ 200.60 and SL @ 201.00. Now that is 40 pip wide. What happen to 60 pips apart??? As I said before, the grid changes according to the market so pay attention. The stop order may not get hit but at the time of writing, the grid at 200.56 is already hit and missed my order by just a few pips.

I am sure by this time, some of you will have lots of question and doubt. Put all those question and doubt at rest and look at the naked chart. You may find that the hardest question may have the simplest answer. You just have to tackle the problem one at a time.

IT IS A RISKY BUSINESS

As of this morning, my stop order on GJ is filled. Currently GJ has already broke the 1st TP. SL will be move to 200.56 in due time. The plan currently is to follow the price at each level.

Trade Of The Day

For today I will choose a slower pair to trade. It is my opinion that NZD/USD is a good pair to short. Based on grid trading, if anyone is reading the signal should be:

short NZD/USD @ 0.8065 or better
Stop loss @ 0.8090 (Minimum)
Take profit at each of the grid lines.

Btw that is my full trading chart. By the end of the lesson you will get ideas how to combine every trading method from each indicators and grid. Its not the system, its the people who use it.

Forex News

For those of you who trade purely on technical study, you must avoid news hours. During news release, a different kind of traders will enter the market. They are aggressive, fast and well equip. They work in groups and using syndicate trading to force the market to their favour. They enter and leave the market in short period of time taking whatever profit they can. They do not stay in the market.

Compare to us technical small fish, these news traders are much bigger. In order to avoid getting fried, technical small fish must leave the arena when the news traders enter. In order to know when these news trader enter we must know when important news release are made and for that reason I use Forex Factory calendar.

Funny how people try to trade during news hour while I try to avoid them. Look at the calendar and understand when high impact news are released. Pay very close attention to red and orange icon.

Market Preview Week 1 April

NzdUsd last week made a last minute drop. The drop was expected but the time it took to move is unexpected. Next week should be a clear direction to some pairs. I will post direction of pairs so that you can make your trade easier

NzdUsd
Last minute drop, at the moment its in downtrend mode. Still have some room to go down. Short NzdUsd based on candle stick pattern

UsChf
This is a slow and steady moving pair. At the moment on thin uptrend. Long UsdChf based on candlestick and grid lines. Do you know that if you monitor UsdChf you can actually catch EurUsd, GbpUsd, AudUsd and NzdUsd trade by going the opposite way.

EurJpy
Last minute drop last week has actually turned EJ from uptrend to downtrend. At the moment I got a short signal and based on grid it would be short @ 157.20 or better.

Market Preview For The Week Ahead

Following the mixed US data last week, markets will continue to try to assess the US recession risks and whether the economy is already in recession. The PMI data on Friday suggested that the economy was not in recession, but the fact that weakness has been focussed in construction will maintain serious doubts, especially after the weak payroll data.

In this context, the PMI index for the manufacturing data on Tuesday will be watched very closely. A figure close to December’s level would cast further doubts on recession. The jobless claims data will also be watched very closely on Thursday after the big jump claims seen last week.

The Wall Street trends will be watched closely with a particular focus on the bond insurers. The bid activity last week and hopes for support measures for the bond insurers suggest that risk tolerances could improve slightly this week which would also provide support for carry trades, especially if volatility levels ease. Markets will still be very cautious and any improvement could easily prove to be very tempoary

Caution is required as any respite in fears over US recession would tend to support the dollar while an easing of risk aversion would weaken it. The net trend looks to be slightly dollar supportive after the performance on Friday.

Interest rate decisions within Europe will be a very important influence over the second half of the week with the Bank of England and ECB both set to announce their rate decisions on Thursday. Assuming the ECB holds rates steady, the statement and comments from Trichet will be watched very closely for hints on future policy.

There are very strong expectations that the Bank of England will cut interest rates this week. If so, the bank will release a statement and this will be watched closely for hints on policy over the next few months.

The Australian interest rate decision is due on Tuesday local time amid expectations of an increase. Again, the statement from the Reserve Bank as well as the decision will be very important for sentiment.

Daily Forex Overview

The U.S. dollar, coming off one of its best weeks against the euro in months and probably will consolidate those gains this week after the Group of Seven leading industrial nations provided little new guidance on exchange rates.

ECB President Jean-Claude Trichet warned against betting that the central bank would soon join the U.S. Federal Reserve in cutting rates.

The EURUSD has dropped over 350 pips since the beginning of the week. Economic data and the European Central Bank's admission that the economy could weaken further has caused many traders to believe that the next move by the ECB will be to cut rates and not to raise them.

US wholesale inventories rose 1.1% in December, and November was revised up from 0.6% to 0.8%.

With no major economic data released today, the British pound recovered marginally against the US dollar.

The Australian dollar was higher late Monday as hawkish sentiment from the Reserve Bank of Australia bolstered expectations of further interest rate rises, lending support for carry trades.

Canada's dollar rose versus the U.S. currency from 1.0105 to 0.9947 after a government report showed employers added more jobs in January than economists forecast.

MARKET EXPECTATION

The market expects German growth to slow from an annualized pace of 2.5 percent to 1.8 percent and for Euro zone growth to slow from 2.7 to 2.2 percent. Meanwhile Switzerland released stronger numbers. The SECO consumer climate index and consumer prices both beat expectations.

This week there are a lot of UK economic data on the calendar, which means that there will be decent volatility in the pound. We are expecting producer prices, consumer prices, trade balance, employment data and the Bank of England Quarterly Inflation Report. Inflation should be strong, but the labor market is expected to deteriorate further given the strains in the housing and financial markets.

The European Central Bank has effectively eliminated its tightening bias and with the economy weakening quickly, the ECB's first rate cut could be delivered as early as April.

Furthermore, the technical picture has begun to change and the arrow is now pointing upwards on EURUSD.

Reserve Bank of Australia warns it might have to raise rates yet again to slow domestic demand.

Financial markets in Tokyo will be closed on Monday for a national holiday and the Bank of Japan will announce its interest decisions on Friday and widely to keep interest rates unchanged at 0.5%.

Piliharaya ke 12. Siapa Menang?

Siapa Kalah? Siapa Tuan? Siapa Kuli? Siapa Mereka? Siapa Kita?
Teka teki pilihanraya sudah terjawab. Sekarang adalah masa untuk kita menunjukkan kuasa . Kuasa yang paling besar diberikan kepada kita untuk kita gunakan sekali sahaja dalam masa 4 tahun.

Pada masa ini ramai penghasut, pemujuk , penipu, penyibuk, kaki ampu, kaki carut dan macam-macam lagi bangsa manusia akan muncul dengan hanya satu harapan , iaitu memilih mereka atau parti mereka untuk memerintah.

Siapakah yang patut menerajui pucuk pimpinan negara kita. Adakah Barisan Nasional yang telah memerintah selama 50 tahun mampu memuaskan semua orang yang ada dimalaysia. Adakah parti pembangkang dengan isu-isu yang ada mampu menumbangkan Barisan Nasional.

Harus diingat . Kedua-duanya adalah parti politik. Dunia politik penuh dengan kekotoran, Penipuan , Janji-janji palsu.Cuba nak pancing undi....Bila sudah memerintah ....anda akan kenal siapa mereka sebenarnya.... Rasuah sana, rasuah sini, Skandal sana, skandal sini. ...Berlagak tak ingat macam dia manusia paling hebat didunia.... Masa inilah kita nak tunjuk siapa hebat....YB ke atau rakyat.....

Hebat mana sangat mereka ni....Gaji YB dan menteri bukannya besar...Kalau di singapura boleh mencecah RM 1 juta setahun. Dimalaysia, makcik yang jual nasi lemak kat Kampung Baru pendapatan dia lagi besar dari YB dan menteri....

Fikirkan, bayangkan....Gaji tak sebesar mana tetapi mampu pakai Mercedes Benz yang terbaru... Rumah macam Istana.... Makan di Hotel 5 dan 6 bintang. Bukan hanya yang bernaung dibawah dacing...Yang bernaung dibawah bulan pun sama....

Macam mana boleh jadi begitu....Ada kuasa, ada peluang....gunakan kuasa untuk rebut peluang = Salah guna Kuasa.Hak rakyat diketepikan...yang penting semua hak rakyat boleh jadi hak sendiri, adik beradik...anak beranak.....Mereka Semua Sama.....siapa yang susah....KITA DAN KELUARGA KITA JUGA YANG SUSAH......

Apa kata kita pakat ramai-ramai .....semua tak keluar mengundi...Agaknya apa akan jadi....Rasanya bulan, roket, dacing dan bulan sabit cacat akan duduk semeja, makan termenung sebab tak ada kerja... Sudah pasti mereka akan menangis berguling-guling memikirkan banyak lagi projek yang tak dapat dijalankan....Mungkin ada bekas YB yang akan merangkak dari rumah kerumah minta sedekah ....suruh keluar mengundi ..MESTI SERONOK DAPAT BUAT MACAM NI ....KITA DUDUK RAMAI-RAMAI gelakkan mereka.....Dah puas hati dalam sebulan....kita dah tunjukkan hak kita...KUASA, PERPADUAN, KETIDAKPUASHATIAN.....barulah mereka tahu siapa mereke....apa keje mereka....mereka WAKIL RAKYAT....bukannya TUAN KEPADA RAKYAT...

FIKIRKAN. RENUNGKAN.......SIAPA TUAN? SIAPA KULI....MEREKA KULI KITA.....KITA TUAN MEREKA....REBUT KEMBALI HAK KITA>>>

A Piece Of the Puzzle

By this April, I would have spend 2 years studying forex. By far this is the hardest thing to understand. Compare to a pc, I learned to assemble a pc and isntall windows in only one day, learned to install car sound system in 3 hours. Forex 2 years is like just waking up from sleep and still in bed. Thats is to compare how hard forex is. If anyone out there tells you forex is easy, then he never traded before. Btw, the title of the blog is just of SEO.

Forex is very difficult to understand. What we can do to survive is to come up with a plan. A plan is based on behaviour pattern. At certain condition, the market will behave the same way most of the time. Today I will show you a piece of a puzzle showing that forex market behave the same most of the time at certain condition. If you can anticipate its behaviour, I am sure you can make money of it.

new week
heres the current sp

CHFJPY CLOSED BREAK EVEN

EURGBP CLOSED f0
LPG ON STOP - POSITION 1 +419 POS 2 +231 TOTAL +656 PIPS. remember this is a 1.4X pair so thats like 900+ pips on the balance - if you don't know what i'm talkign about look back a month or so to "all pips are not equal" or whatever i called it.

EURJPY SHORT PUNT LPG KICKED IN @130.80

SECOND PUNT SHORT USDJPY@96.77 SL 100 PIPS worth a go a think but a spec punt based on pullback and last thursdays high as a LPG sympathetic level to break. I did think twice about this because of the exposure of my EJ trade and may consider a hedge if I see one worth taking on the other yen pairs.


Results for March 2009 +557 pips on closed trades LPG

Results so far for 2009 +890 pips on closed trades.

results live on this blog since Oct 23 2008 +4821 on closed trades

Time Marches On (Lanie Hill)

eurcad closed on stop at BE, took +52 on eurgbp Results for March 2009 +609 pips on closed trades Results so far for 2009 +942 pips on closed trades. results live on this blog since Oct 23 2008 +4873 on closed trades ANNOUNCEMENT I'm sorry folks, but the recent tosser attack has forced me to question my motives for posting here again and since then i've taken trades without posting here on time because i've lost the motivation to. Ive had another eurgbp trade today and havent posted it which is long by the way from 9312 sl now at 9332. It's just been one more attack from one more tosser wannabe jealous trader. Over the years i've had lots of them. In the past they kept to the forums and attacked me there, and now theyre coming to the blog - I even get emails from the wankers. I understand how hard it is to get a foothold in this business so i've given them lots of slack. But I now find that I just can't be bothered even with this blog anymore. I have nothing to prove anymore. I'm still here after 7 years and i do what i do and do it as well as i'm able. the proof is in these pages which document much of my trading career. I will continue to trade my way and make my money. But i'm going to take a holiday from the blog and for how long I have no idea. I may never return or i could just be away a short while. I just can't find a reason to post here anymore nor a motivation. Through the years i've trained a lot of people and very few of them are left around who trade. I do have some close friends who are still in the game but they, like me don't bother with the internet thing anymore either. The whole reason i started the longer swing game was because i've taken up a new challenge which consumes my days and i very much enjoy that. My long days of screen staring are over and they did pay off but I no longer want to do that, I have better things in my life now which actually make a difference in the world. Keep checking back if you like, at this moment I feel like just deleting the whole thing but then i guess it can stand here as some lessons to a select few who can read between the lines. I hope that some of you make it in trading and make some serious money. As a closing bit of advice i'd suggest that you don't study too hard - indicators really are bollocks, systems don't work for long enough to matter and risk management is all there is left. If you win then it's luck, there is no skill in this game - it's how your capitalise on that luck that matters - get on the horse and dont get off till it's stopped running you way. but only get on the horse when it's close enough to the start so that you know when it's running the other way.

DAILY TRADING - THERE IS NO SPOON

Some people are asking me about the secret of daily trading. The answer is there is no secret. It is there for everyone to see but the question is, can you accept what you see.

Trading the daily chart requires patience, lots of it. That is what most of us lack. Patience. If you look at the longer timeframe charts, you will see that price will stop or hover around certain areas. That is your key point. Always start or stop trading around these key point.

The next indicator I use is CCI. CCI alone is a bit of a headache. So I smooth it out with MA. With the MA, I can see the direction of trade clearly. People say MA is a lagging indicator but I dont want to be early going to a party. I like to enter when the party already started.

The last advice is, there is no such thing as holly grail. You just cannot win all the time. The best that we can do is try to win as much as possible and lose a little as possible. In the long run, it would be profitable enough to stay trading. Otherwise you need to find another business to run.

OVERCOMPLICATED TRADING

Human tends to over-complicate things. It is in our nature to try and improve what we have but most of the time we overcomplicated things and forget about the simple solution. In my previous post, I posted a chart of a basic system. It consist of candle stick chart, moving average and macd. Only 3 indicators and it is a very simple system rite?The answer is, it is not so simple actually. Candle stick alone tell you 4 things that is, open, close, high and low price. MA tells you direction of trend, entry point, start and end of trend. Macd tell you trend, entry point, reversal point. From only 3 indicators there are actually 11 information cramp into that small chart. Too much info and decision making is a hard job. Though i filter comments, no one has actually ask about the amount of information on chart. It seems people can accept 11 information at once. Can you manage 11 input at once and make a decision out of it??Trading is actually much simpler. It is actually possible to make profit with only 1 information. Believe it or not??

A BASIC SYSTEM

I posted a basic system before with a chart of GbpUsd. Now I am going to use the same system and post the same pairs again.Now GbpUsd has cross above LWMA55 and Macd has cross also. This is a new signal. So from now on only consider long position on GbpUsd. Btw anyone notice the price on this chart with the one i posted earlier?Someone posted trade details. It seems the way I am trading will make me go bankrupt. All I can say is you dont have the idea what Forex is. Maybe I may not know how to handle the current market but my demo account has no drawdown. Maybe its coz im lucky. I just dont know. I have stop trading the demo on marketiva. For $30 for the monthly winner. It is just a waste of time (Now I am going to reverse trade it). Instead I go for Instaforex forex sniper. Prize money is $1500 for weekly winner. Check out the banner on top.

FOREX 4TH ANNIVERSARY

Today marks the end of 4th year I am in Forex and I am still here. Most of the friends that I know trade has already stop. It must mean something to stay here for so long when most people quit. Its either I am really stubborn or I am not losing money. Which one you think?

















After 3 days of demo trading I got over 25k of profit from 10k max lot trading. Its over 250pip net profit. Not bad for a part time trader and a 7th place so far. I dont think I can be number 1 coz of limited time I trade. Its a good progress, it shows where I am after 4 years. How about you?

A BASIC SYSTEM

Any system need to have a very good basic to stand on. Once the basic is sort out, then all the accessories can be add on. Just remember not to add too much to it.













Today I am going to give a basic system. It consist of only 2 indicators. Being simple, it is able to generate good signal. Just remember to put SL properly. Indicators:1. LWMA 552. MACD standard settingTime frame: 30mStop Loss : 35 pipsTake Profit : 35 pips or more. Currencies : EurUsd, GbpUsd, EurJpy, GbpJpyTrading System:LWMA act as a thin trend line. If the price is above it, its uptrend. If the price is below it, its downtrend. So you buy or sell according to trend. Never reverse trade. MACD also shows the trend. If MACD is above 0, its uptrend and the other way around. I have put 3 vertical lines in the chart where MACD cross 0. Once MACD cross 0, you should only trade according to trend. You entry should be on the LWMA 55 or close. At the moment MACD has cross 0 and is heading down. From now on only consider short position. Try to enter as close as possible to LWMA 55. Caution has to be taken, even though MACD has cross the trend is not yet full down actually. There is another indicator that I use to show trend and its not full down yet. Unfortunately that indicator is no where in the chart because it is not on GbpUsd chart. It is somewhere else. Now you wonder why its not there. The truth is most people fail because what they are looking for is not there. That is what I meant with looking at the wrong direction. The trend indicator for GbpUsd is not on GbpUsd chart. Weird isnt it?You can take this basic system and try to add on what ever system you have. Hopefully it is useful. Good Luck

THE ENDING IS NEAR

1,447 days ago I started to step in the world of Forex. 6th May 2006 is the day I registered my 1st demo account and its a Saturday. Through out my journey in Forex, there are no actual manual, text or books that I can really refer to. Its like an unexplored land with no maps what so ever. There are only guides available online with no one giving specific answer.Though hard it may be I started to develop my own system and continue to improve on that system. No matter how I try to improve it, there is still something missing. After a long and hard work I finally got the answer. It is an answer that I wasn't willing to accept. So I disappeared for almost 1 year though my part of moving places only took 1 month to settle. Now I am back trading with the answer in my head thus a new direction in my sight. Turns out it is really easy once you have the right answer. You know the question as well as I do. "WHAT IS FOREX". I believe my learning period in Forex is almost over. I can now see direction clearly. I know which pair to trade with the highest probability of profit. I know when to exit and I know when to turn off the computer while still holding positions. I have mastered the basic of Forex. The only thing now is discipline and Money Management. What I am not willing to do is to write in this blog about trading ideas. I may blow out the answer. After almost 4 years, its not something I am willing to give easily. There are no notes, no records, nothing written anywhere on my trading ideas. Its all in my head. My system now is so simple, it consist of only 2 main indicators which I can trade without. Find the answer and its all smooth sailing from there. I just wish I have found it earlier. For those of you who show interest in my new trading system, thank you for the attention. I have stopped giving out my system due to limited time I have to teach. I dont teach, I dont sell my system, I dont ask for your money and I dont give signals.You can come and visit this blog. I will give chart analysis from time to time. Dont expect too much coz there is not much in Forex anyway. Good luck to all of you. Thank you for visiting my blog. For today, do sell GJ coz its going down. You just need to figure out where to enter. Its not an easy task, I know coz Ive been there.

A TRADER'S TOOLS

A mechanic has many tools. Each tools with its own usage and purpose. It is only down to intelligence and creativity that separates a good mechanic and a bad one.Like a mechanic, a trader has many tools as well. Each indicator is a tool for the trader and a combination set of tools with rules is a trading system. A good trader has not 1 but many system. Each system has different purpose. It is down to knowledge and creativity that separates a good trader and a bad one apart from portfolio.The best time frame to trade is the lower time frame but due to noise and spikes it is difficult to trade using lower timeframe. It is the reason why most trades fail in short time frame. EurUsd has been ranging for the past few days and due to it, has hit my stop loss twice. Being a trend trader myself, I just cannot trade during these ranging period. So I stopped trading and try to make a new trading system using lower time frame to catch these ranging market. It seems with a new set of tools (not new actually, had not used them for a while), I have manage to create an almost perfect trading system for all time frame but with the target of 15m chart. The only thing that this new system doesnt show is when not to trade which i made up with a new set of rules. If any of you would like to try the new trading system please leave your email. I will try to get back to you ASAP.

EURGBP DROP

Yesterday I wrote about EG connection. Guess what, I took the whole EG drop and run away with it. Right now all live post on EG is closed, profit in the bag :).I was so confident on EG drop I was betting 50% of my capital on it on 1 post only. Quiet a risk and really worth it. I feel like I just won a horse race :))EU still up there and there is a killer spike up to 1.3537. Atm I on sideline watching for opportunity. Fing lol email me on your progress. Really like to hear how you are doing.

EURGBP CONNECTION

Here is a homework for some of you. Your task is to find the connection between EurGbp with Eur pairs (EurUsd, EurJpy) and Gbp (GbpUsd, GbpJpy) pairs. You can post in comments about your findings so that we can discuss. Discussion is always a good learning method since you are required to think and not spoon fed. EURUSD has finally reached its top. Entry point for me is between 1.3450 - 1.3500. You can find a suitable entry point or wait for the pair to really go down and take your entry. At the moment that entry is still a high risk entry. I am giving an early heads up so you guys can prepare. Btw dont post link or whatever you want to promote in comments. I will not allow it and there is no such thing as 100% accurate forex signal. When are you guys gonna get it. There is no such thing as 100% in life.

CHART ANALYSIS - EURUSD
I think I will give chart analysis from now on. Its easier to do and easier for you guys to get confused :). First up is EurUsd. Not very hard to trade actually once you know the direction.Ok lets go to the confusing part. That is the charts.


















There you go. Weekly chart for starters. Can any of you guess which way is EU going? From the looks of it, EU is really going down and its a fast one. Easy isn't it?Next chart please. 1 chart isn't going to get anyone confused.

















Next is the Daily chart. Guess what, daily is also pointing down but at the moment it is in oversold position. CCI is way down there and making a U turn. Expect correction at daily level. So far 2 charts says EU down with a correction coming.Another chart. Anyone confused yet???


















This is the hourly chart. We can see where the correction is. Its really climbing now. So before anyone get anymore confuse I would say wait for the hourly chart to point down then you sell. Plan for the worse hope for the best. Keep your money management tight and you may survive the storm.Btw dont sell EU yet. That sell line is for me to mark S&R. If EU do go down next target is 1.30 and 1.25 based on S&R on weekly chart.Now the question is, how long do we have to wait before selling EU. The answer is I dont know. Just wait and see. It is what Forex is. Anyone here still confused?? I do :)

ITS NOT PIPS BUT PROFIT IN FOREX

You can actually tell if someone is new in Forex by the way they count their pips or profit. When people starts forex they count pips. They can have hundreds of pips a day and yet their profit is low. This is due to the low risk reward ratio they have taken. Once you are older in Forex, you will see the ratio. No point of taking hundreds of pips when the profit is low. So you start to take high risk high return trade. These trades do not give you high pips but the profit margin is high.That is how money is to be made in Forex. You actually manage your risk and take profit from it. For today as of now, I already taken 3 trades. 2 profit trades and 1 lost trade. My account grows 37%. Not bad for a slow Monday. For the answer to Forex, once you know it you will feel helpless. No matter how smart or brilliant you are it counts for absolutely nothing here. I have Banking and IT qualification. Did that help me? 2 different qualification did not help me one bit here. Made me want to cry when I found it out.

NEXT UP EURGBP

EurGbp is going up so those of you who have the guts do buy EG at every dip refer to chart 1H or lower to view.I got lots of email and calls asking me about the secret of forex and how to trade. What if I tell you the answer is not as u expected it to be. Some people even rejected the answer when I told them. I dont blame them. When I found the answer I feel like Im going to cry. Its hard to accept something the logical mind cannot understand. In the mean time, take it slow and enjoy the ride.People say seeing is believing. 2 post already TP. Another 1 more for weeks to come. Forgot to mention. Possible retrace at the price in the picture. So TP at will reentry on next low.

AN EYE ON AUDUSD

AU manage to hold its level when both EU and GU fall down dramatically. Do look at the daily chart to see what I mean.Some of your might not understand what it means and so do I :) Dont worry, the longer you are in Forex the more info you will filter out. This is coz some things are not worth understanding. The reason I am pointing this out is when a pair is making a stand like AU, you can actually use it to your advantage. Advantages such as:1. The next time AU decide to fall down there is a high probability the EU and GU will crash but there is a limit to everything.2. The next time EU and GU start to climb, AU will fly.Keep that in mind coz I do. I am waiting for the AU to fall or fly.

LOST IN FOREX

Have you ever been lost in Forex? Some of you might be thinking, how do i get lost in forex?? Let me ask another question. Have you ever open a trade in one direction, after some time open a trade in the opposite direction?Im sure that happens to all of us, myself included :). That is lost in Forex, where we are unsure of direction of trade. Some people even hedge in the situation.I have a few tips when you are lost in Forex. 1. If you are lost and dont know which direction to trade, the most important thing is to stop trading and do something else. Go plant a tree or play games. Dont even look at the charts anymore to avoid confusion.2. Is to take a trading system and put it on multiple time frame. I trade using the same system on 3 timeframe. 15m, 1h, daily. When all three is pointing at the same direction then I trade. If 2 timeframe is pointing at the same direction then i scalp. 3. After sometime, your brain will start to imprint patterns of Forex. Forex has the same pattern over and over again. In our mind, that pattern has been imprinted and it influence our decision making subconsciously. Once you reach that state you will rarely get lost in Forex. You will know the exact time to trade or to get lost (do something else).I will try to update this blog. Been so long and so busy with new place. As for Forex, USD pairs are going nowhere at the moment with a high probability to go down further. Good luck on your hunt for pips

Free Forex Signal 8/12/2006

Its been a while since I posted signal. Anyway here it is. Hope its good.1. Short Aud/Usd @ 0.7905 or better. Target 0.7850, 0.7780.2. Long Usd/Jpy @ 114.80 or better. Target 115.60, 116.70.Happy Trading. Btw I cannot be held responsible for any loss from the signal above.

Free Forex Signal

Eur/UsdEur/Usd is currently at 1.2862. From my calculation Eur/Usd has an upper range of 1.2880 - 1.2950. Possible trade is short Eur/Usd @ 1.2880 or better.Gbp/UsdGbp/Usd is currently at 1.9102. As stated in my other blog, possible trade is short Gbp/Usd @ 1.9100 or better wih upper range of 1.9100 -1.9150Aud/UsdPossible trade short Aud/Usd @ 0.7710 or better. Already gone down now. Btw i shorted from 0.7751. Its a good trade so far.

In The Land Of Forex

In The Land Of Forex, Trend Is KingThose are the words i hold on to in forex. No matter what happen in technical or fundamental study. Always follow the trend. Trend is king. Follow the king and you will be rewarded handsomely.

555 Forex Trading System

FOREX TRADING SYSTEMThis forex trading system is part of my full forex trading system. I post it just to help out new traders to develop their own trading system. This forex system can be use on all pairs. It is far from perfect but can give you an idea how to trade and develop your own forex trading system. Maybe in the future if you manage to improve this system you may want to share with me. Anyway here it goes.Time Frame : 4 hoursMA's : SMA5 or SMA8 which ever suits you better, SMA55TSF : Period=55Bollinger Band : MA=simple, Period=55, Multiple=2.0Stochastic Slow : Period = 10,3,3, simple, simpleStochastic Fast : Period = 13,3 Exponential
FOREX CHARTS






For the 1st chart I use usd/jpy pair for 4 hour timeframe. Remember this forex system is designed for 4 hour time frame but can be use on all pairs. In this forex system, MA8 (Red) and TSF55 (Blue) is the indicator for long or short trade. When the red is above blue = long and vice versa. BB55 and SMA55 is the target. Both the stochastic is for confirmation on trade position.
When price is at BB55 either at the top or bottom and both stochastic is showing extreme value, it may signal a reversal. A confirm reversal is when price broke the red and blue line. The price itself is the ultimate indicator. Once the price broke the 2 lines, find the best possible entry. Normally the best entry is when the price is at the blue line. If after you enter the trade, and the price gain momentum in your favour just let it run and ride it till its finish.
Below is the explaination for the above chart
Price spike out of BB55. As mentioned before, BB55 acts as targets. In this case usd/jpy already reach its target based on this system but the momentum is still strong based on distance of Red and Blue line.
Price spike out of BB55 again but this time the price close below the Red line. This indicates the momentum is dead and a reversal coming soon.
Ideal entry. Red below Blue line indicates a short position. Price is at the Blue line. Short now and let it run until it meet BB55 at the bottom
Price went through BB55 and then goes flat at this point. It is making its way back into BB55 and a flat Red line indicating the momentum is dead and a reversal is coming soon. At this point the entry for long position is the lowest price inside BB55.
Price spike out of BB55 but cannot make new high. This is where I exit and enter a new short position. Let it run until the momentum is dead.
If you look at point 1,2,3 and 5. All are high point and all of them is higher than the previous high. This is and indication that usd/jpy is actually going up but as forex moves in waves we sometimes get lost and fail to see the big picture. In this case what ever you do, follow the trend and always remember that the big picture is usd/jpy is going uptrend. Be prepare if the market suddenly shoot up. Remember always use stop loss properly. Forex is a risky market, do manage your risk properly.

Forex Signal

USD/CADusd/cad is currently at 1.1270 with a high of 1.1305. Looking at the chart, it has lost its momentum eventhough the uptrend is still intact. It may hover around 1.1240 - 1.1310 for a while.Possible Trade:Short usd/cad @ 1.1300 or better.Target: 1.1180, 1.11201, 1.1080.Caution:If usd/cad overshoot 1.1315, then its possible that it will go long. This is because usd/cad is currently going uptrend. It will be constantly making new high.

Forex Trade Review

Last Friday, Non-Farm Payrolls is out. This is like fuel for Usd and it effect all pair especially eur/usd and gbp/usd. Last friday the report came out a mixed bag. People are confused and the price swing up and down. I was on the losing side of the trade but because of the swing at certain point I was 30 pips up but because Marketiva usually lock out during news hour, I finally end up at a lost. Well its forex anyway. If you dont lose in forex you dont feel the thrill.Anyway Im going to review few pairs. Maybe some of you can find a trade from my review. As for me I am currently out of the market waiting for it to come to sense. Currently all pairs are at extreme oversold or overbought.Eur/UsdCurrently at 1.2532 after a drop of almost 200 pips. Currently its on a thin downtrend with a possible target of 1.2450. For those of you who are already on a short position, you may hold the position with trailing stop loss of your choice. For me I will only consider an entry at 1.2450, that will depend on the strength of the momentum.Gbp/UsdCurrently at 1.8540 and just like eur/usd it drop like a rock during NFP report out. Possible target is 1.8200. Looks like a retrace coming soon. Just watch the trend and momentum for possible entry. I will be looking at this one.Usd/CadCurrently at 1.1330. My last signal manage to get me 30 pips. Too small for the effort. Currently going up with possible target of 1.1450. Overshot all indicators. Possible retrace at 1.1360. I will be watching this one.This is my review. Its not a trade recommendation. Be very carefull on your trade coz forex is a risky market. If you are not sure better stay out until the market make some sense. Happy trading.

Free Forex Signal

Everybody likes free things. So do I but I like to give free things as well. In the future I will post Free Forex Signal in this blog. Before anyone trade on those free forex signal, I would like to warn you that I will not take responsibility on any profit or lost by using my free forex signal.If anyone here like to see what kind of signal I give here is one example . Btw in that signal gbp/usd gave me over 300 pips. Happy trading.

Marketiva Scam????

Read some very interesting review on marketiva. It seems that some people classified Marketiva as scam. I dont mind since im still using their $5. To me marketiva is a learning platform. Btw one review for you to read:"I would not trust any company with no background info. I had asked to see who or what is behind the company before depositing funds. No response. I believe there is some type of long term scam here. Something is not right compared to other brokers. Also it is a bit strange that you can open an acct. with no I.D. Last but not least, beware the glowing reviews of Marketiva spread out on forums. Most if not all of these posts are made by actual Marketiva admins posing fraudulently as investors. You can easily pick them out. They are the ones using obvious marketing slogans and pushing the free $5 for joining. The $5 is just a ploy to sucker in the new trader.The rest of the posts are from those promoting their referral links.I'm of the opinion that Marketiva is a total bucket shop. Like a ponzi, the money from losers lines the pockets of Marketiva and helps pay the few that make a profit. I seriously doubt any investor's money actually makes it onto the market. 95% of traders lose on average. This makes for a profitable business model especially when the investor is essentially trading on a demo account with real money. They know you are very likely to lose, so your money goes into the bucket and you are left blaming a bad market when you lose when in fact, your money never even made it there.Ok, thats enough ranting. Beware Marketiva and do your own research and due diligence checks on any broker you wish to join.Best of luck out there!"

Trend, Momentum and Timing

When doing technical analysis on forex. There are 3 factors that need to be properly recognise and use. They are trend, momentum and timing.TrendTrend is the tendency of movement to a particular direction. When it is uptrend, the price will move up and vice versa.Momentum.Momentum is the strength of movement. The stronger the momentum the stronger the move. When the momentum is finished, it will reverse.TimingTiming is when u enter the market. Enter only when the profit to risk ratio is good. Other than that better stay out.

What is a Pip?

The most common increment of currencies is the Pip. If the EUR/USD moves from 1.2250 to 1.2251, that is ONE PIP. A pip is the last decimal place of a quotation. The Pip is how you measure your profit or loss.
As each currency has its own value, it is necessary to calculate the value of a pip for that particular currency. In currencies where the US Dollar is quoted first, the calculation would be as follows.
Let’s take USD/JPY rate at 119.80 (notice this currency pair only goes to two decimal places, most of the other currencies have four decimal places)
In the case of USD/JPY, 1 pip would be .01
Therefore,
USD/JPY:
119.80.01 divided by exchange rate = pip value.01 / 119.80 = 0.0000834
This looks like a very long number but later we will discuss lot size.
USD/CHF:
1.5250.0001 divided by exchange rate = pip value.0001 / 1.5250 = 0.0000655
USD/CAD:
1.4890.0001 divided by exchange rate = pip value.0001 / 1.4890 = 0.00006715
In the case where the US Dollar is not quoted first and we want to get the US Dollar value, we have to add one more step.
EUR/USD:
1.2200
.0001 divided by exchange rate = pip valueso.0001 / 1.2200 = EUR 0.0008196
but we need to get back to US dollars so we add another calculation which is
EUR x Exchange rateSo0.0008196 x 1.2200 = 0.00009999
When rounded up it would be 0.0001
GBP/USD:
1.7975.0001 divided by exchange rate = pip valueSo.0001 / 1.7975 = GBP 0.0000556
But we need to get back to US dollars so we add another calculation which is
GBP x Exchange rate
So0.0000556 x 1.7975 = 0.0000998
When rounded up it would be 0.0001
You’re probably rolling your eyes back and thinking do I really need to work all this out and the answer is no. Nearly all forex brokers will work all this out for you automatically. It’s always good for you to know how they work it out.

How To Make Money Trading Forex

In the foreign exchange market, you buy or sell currencies. Placing a trade in the foreign exchange market is simple: the mechanics of a trade are very similar to those found in other markets (like the stock market), so if you have any experience in trading, you should be able to pick it up pretty quickly.
The object of forex trading is to exchange one currency for another in the expectation that the price will change so that the currency you bought will increase in value compared to the one you sold.
How to Read Forex Quote
Currencies are always quoted in pairs, such as EUR/USD or USD/CHF. The reason they are quoted in pairs is because in every foreign exchange transaction you are simultanesouly buying one currency and selling another. Here is an example of a foreign exchange rate of the British pound versus the U.S. dollar:
GBP/USD = 1.7500
The currency to the left of the slash ("/") is called the base currency (in this example, the British pound) and the one on the right is called the quote currency or counter currency (in this example, the U.S. dollar).
When buying, the exchange rate tells you how much you have to pay in units of the quote currency to buy one unit of the base currency. In the example above, you have to pay 1.7500 U.S. dollar to buy 1 British pound.
When selling, the exchange rate tells you how many units of the quote currency you get for selling one of the basis currency. In the example above, you will receive 1.7500 U.S. dollar when you sell 1 British pound.
The base currency is the “basis” for the buy or the sell. If you buy EUR/USD this simply means that you are buying the base currency and simultaneously selling the quote currency.
You would buy the pair if you belive the base currency will appreciate relative to the quote currency. You would sell the pair if you think the base currency will depreciate relative to the count currency.
Long/Short
First, you should determine whether you want to buy or sell.
If you want to buy (which actually means buy the base currency and sell the quote currency), you want the base currency to rise in value and then you would sell it back at a higher price. In trader's talk, this is called "going long" or taking a "long position". Just remember: long = buy.
If you want to sell (which actually means sell the base currency and buy the quote currency), you want the base currency to fall in value and then you would buy it back at a lower price. This is called "going short" or taking a "short position". Short = sell.
Bid/Ask Spread
All Forex quotes include a two-way price, the bid and ask. The bid is always lower than the ask price.
The bid is the price in which the dealer is willing to buy the base currency in exchange for the quote currency. This means the bid is the price in which you the trader will sell.
The ask is the price at which the dealer will sell the base currency in exchange for the quote currency. This means the ask is the price in which you the trader will buy.
The difference between the bid and the ask price is popularly know as the spread.
Let's take a look at an example taken from a trading software:
On this EUR/USD quote, the bid price is 1.2293 and the ask price is 1.2296. Look at how this broker makes it so easy for you to trade away your money. If you want to sell EUR, you click "Sell" and you will sell Euros at 1.2293. If you want to buy EUR, you click "Buy" and you will buy Euros at 1.2296.
In the following examples, I am going to use fundamental analysis to help us decide whether to buy or sell a specific currency pair. If you always fell asleep during your economics class or just flat out skipped economics class, don’t worry, we will cover fundamental analysis in a later lesson. For right now, try to pretend you know what’s going on.
EUR/USDIn this example euro is the base currency and thus the “basis” for the buy/sell.
If you believe that the US economy will continue to weaken, which is bad for the US dollar, you would execute a BUY EUR/USD order. By doing so you have bought euros in the expectation that they will rise versus the US dollar. If you believe that the US economy is strong and the euro will weaken against the US dollar you would execute a SELL EUR/USD order. By doing so you have sold euros in the expectation that they will fall versus the US dollar.
USD/JPYIn this example the US dollar is the base currency and thus the “basis” for the buy/sell.
If you think that the Japanese government is going to weaken the Yen in order to help its export industry, you would execute a BUY USD/JPY order. By doing so you have bought U.S dollars in the expectation that they will rise versus the Japanese yen. If you believe that Japanese investors are pulling money out of U.S. financial markets and coverting all their U.S. dollars back to Yen, and this will hurt the US dollar, you would execute a SELL USD/JPY order. By doing so you have sold U.S dollars in the expectation that they will depreciate against the Japanese yen.
GBP/USDIn this example the GBP is the base currency and thus the “basis” for the buy/sell.
If you think the British economy will continue to do better than the United States in terms of growth, you would execute a BUY GBP/USD order. By doing so you have bought pounds in the expectation that they will rise versus the US dollar. If you believe the British's economy is slowing while the United State's economy remains vibrant, you would execute a SELL GBP/USD order. By doing so you have sold pounds in the expectation that they will depreciate against the US dollar.
USD/CHFIn this example the USD is the base currency and thus the “basis” for the buy/sell.
If you think the Swiss franc is overvalued, you would execute a BUY USD/CHF order. By doing so you have bought US dollars in the expectation that they will appreciate versus the Swiss Franc. If you believe that due to instability in Iraq and in U.S. financial markets the dollar will continue to weaken, you would execute a SELL USD/CHF order. By doing so you have sold US dollars in the expectation that they will depreciate against the Swiss franc.
I don't have enough money to buy $10,000 EUR. Can I still trade?
You can with margin trading! Margin trading is simply the term used for trading with borrowed capital. This is how you're able to open $10,000 or $100,000 positions with $50 or $1,000. You can conduct relatively large transactions, very quickly and cheaply, with a small amount of initial capital.
Margin trading in the foreign exchange market is quantified in lots. We will be discussing "lots' more in-depth on our next lesson. For now, just think of the term "lot" as the minimun amount of currencies you have to buy. When you go to the grocery store and want to buy an egg, you can't just buy a single egg, they come in dozens or "lots" of 12. In Forex, it'd be foolish to buy or sell $1 EUR, they usually come in "lots" of $10,000 or $100,000 depending on the type of account you have.
For Example:You believe that signals in the market are indicating that the British Pound will go up against the US Dollar. You open 1 lot ($100,000) for buying the Pound with a 1% margin at the price of 1.5000 and wait for the exchange rate to climb. This means you now control $100,000 worth of British Pound with $1,000. Your predictions come true and you decide to sell. You close the position at 1.5050. You earn 50 pips or about $500. (A pip is the smallest price movement available in a currency). So for an initial capital investment of $1,000, you have made 50% return. Return equals your $500 profit divided by your $1,000 you risked to trade.
Your Actions
GBP
USD
Your Money
You buy 100,000 pounds at the GBP/USD exchange rate of 1.5000
+100,000
-150,000
$1,000
You blink for two seconds and the GBP/USD exchange rate rises to 1.5050 and you sell.
-100,000
+150,500**
$1,500
You have earned a profit of $500.
0
+500
When you decide to close a position, the deposit that you originally made is returned to you and a calculation of your profits or losses is done. This profit or loss is then credited to your account.
We will also be discussing margin more in-depth in the next lesson, but hopefully you're able to get a basic idea of how margin works.
Rollover
No, this is not the same as rollover minutes from your cell phone carrier. For positions open at 5pm EST, there is a daily rollover interest rate that a trader either pays or earns, depending on your established margin and position in the market. If you do not want to earn or pay interest on your positions, simply make sure it is closed at 5pm EST, the established end of the market day.
Since every currency trade involves borrowing one currency to buy another, interest rollover charges are an inherent part of FX trading. Interest is paid on the currency that is borrowed, and earned on the one that is purchased. If a client is buying a currency with a higher interest rate than the one he/she is borrowing, the net differential will be positive (i.e. USD/JPY) – and the client will earn funds as a result. Ask your broker about specific details regarding rollover.

Welcome To The World Of Forex

Foreign Exchange (FOREX) is the arena where a nation's currency is exchanged for that of another. The foreign exchange market is the largest financial market in the world, with the equivalent of over $1.9 trillion changing hands daily; more than three times the aggregate amount of the US Equity and Treasury markets combined. Unlike other financial markets, the Forex market has no physical location and no central exchange. It operates through a global network of banks, corporations and individuals trading one currency for another. The lack of a physical exchange enables the Forex market to operate on a 24-hour basis, spanning from one zone to another in all the major financial centers.Forex is becoming more and more popular due to its availability over the internet and current high speed internet. Some people have made a living out of forex trading. Its not easy but we all have to start somewhere. Here there will be infomation on forex trading, forex brokers, forex signal, forex chart, technical study and fundamental study of forex and lots more.There will be other posters, other forex traders that will contribute article here. Come and learn to trade forex. See how easy it is actually to make money and to lose money as well.

Foreign exchange market

This article needs additional citations for verification.Please help improve this article by adding reliable references. Unsourced material may be challenged and removed. (July 2008)

Foreign exchange
Exchange ratesCurrency bandExchange rateExchange rate regimeFixed exchange rateFloating exchange rateLinked exchange rate
MarketsForeign exchange marketFutures exchangeRetail forex
ProductsCurrencyCurrency futureNon-deliverable forwardForex swapCurrency swapForeign exchange option

See alsoBureau de change / currency exchange (office)
The foreign exchange market (forex, FX, or currency market) is a worldwide decentralized over-the-counter financial market for the trading of currencies. Financial centers around the world function as anchors of trading between a wide range of different types of buyers and sellers around the clock, with the exception of weekends. The foreign exchange market determines the relative values of different currencies.[1]

The primary purpose of the foreign exchange market is to assist international trade and investment, by allowing businesses to convert one currency to another currency. For example, it permits a US business to import European goods and pay Euros, even though the business's income is in US dollars. It also supports speculation, and facilitates the carry trade, in which investors borrow low-yielding currencies and lend (invest in) high-yielding currencies, and which (it has been claimed) may lead to loss of competitiveness in some countries.[2]

In a typical foreign exchange transaction a party purchases a quantity of one currency by paying a quantity of another currency. The modern foreign exchange market started forming during the 1970s when countries gradually switched to floating exchange rates from the previous exchange rate regime, which remained fixed as per the Bretton Woods system.

The foreign exchange market is unique because of its

• huge trading volume, leading to high liquidity
• geographical dispersion
• continuous operation: 24 hours a day except weekends, i.e. trading from 20:15 GMT on Sunday until 22:00 GMT Friday
• the variety of factors that affect exchange rates
• the low margins of relative profit compared with other markets of fixed income
  the use of leverage to enhance profit margins with respect to account size
• As such, it has been referred to as the market closest to the ideal of perfect competition, notwithstanding market manipulation by central banks.[citation needed] According to the Bank for International Settlements,[3] average daily turnover in global foreign exchange markets is estimated at $3.98 trillion, as of April 2007. $3.21 Trillion is accounted for in the world's main financial markets.

The $3.21 trillion break-down is as follows:

• $1.005 trillion in spot transactions
• $362 billion in outright forwards
• $1.714 trillion in foreign exchange swaps
• $129 billion estimated gaps in reporting

ITS NOT PIPS BUT PROFIT IN FOREX

You can actually tell if someone is new in Forex by the way they count their pips or profit. When people starts forex they count pips. They can have hundreds of pips a day and yet their profit is low. This is due to the low risk reward ratio they have taken.Once you are older in Forex, you will see the ratio. No point of taking hundreds of pips when the profit is low. So you start to take high risk high return trade.

These trades do not give you high pips but the profit margin is high.That is how money is to be made in Forex. You actually manage your risk and take profit from it. For today as of now, I already taken 3 trades. 2 profit trades and 1 lost trade. My account grows 37%. Not bad for a slow Monday.For the answer to Forex, once you know it you will feel helpless. No matter how smart or brilliant you are it counts for absolutely nothing here. I have Banking and IT qualification. Did that help me? 2 different qualification did not help me one bit here. Made me want to cry when I found it out.Hunt pips but count profit. Good Luck

FREE FOREX SIGNAL - NOT REALLY

When people say free forex signal, it refer to an instruction to trade specific currency pair at a certain price. Normally this signal is based on the trader study and experience. It is more of a personal view of things to come.In certain cases the signal does work. In a different situation, it fails. This is because the person giving that signal is also a small trader. His study is based on either technical or fundamental with no real money to back it up. If that person is good, he will have enough followers and the total money traded towards his signal will back him up and make the currency move. If that person have very few followers, then he is swimming alone in a sea full of sharks.That is what most of us do. We do not coordinate and we work alone in forex. Thats why the sharks are taking their time and making easy picking of us, swallowing one at a time. It doesnt sounds good but its the truth.

Now you dont have to wonder why most people fails and why banks keep on making huge profit. If you want to take forex signal, take it from someone who you can trust from inside the banks. They have a lot more info and study on forex. The amount of info, knowlegde, manpower and money is impossible for any of us to compete. For some people who manage to find a method to be profitable in forex, its a good thing. You have found a way to take advantage of the system. The system after all is developed by human and human by itself is full of weaknesses. For those of you who is losing, its time to think about swimming alone is a sea of sharks. Time to find friends and help each other out in terms of knowledge and money power. Dont get me wrong,

I am in profit today. I have found a way to take advantage of the system though its like a mouse, stealing food one little bit at a time. Better to profit a little than losing all the time but for how long are you willing to be the small fish. Always jumping in and out of trade. Hoping for the trend to hold long enough for you to gain a little profit.In order for me to grow in forex, I need to team up. It has long been in my mind, just looking for the right opportunity and people. Anyone here think the same?

UPDATE

This blog has not been regularly updated. This is due to internet connection problem. It has been months now and my internet connection is still not up to 100% fitness level. I can post text but I cannot upload pictures or any attachment. I even opted to use my office internet during the day for my uploads. As for forex I am playing the short term game. 5 minute TF to be exact. It is much safer since my internet is not stable. Its a intraday system trading the 30 minute trend with a 5 minute signal for entry and exit. So far so good.

Actually the system is simple. It is based on MA and RSI only. Even trading is simple for me nowadays. It seems that experience changes me. I am no longer sitting in front of the PC hoping for miracle. There is no miracle in Forex. It is just knowledge and study so that the direction can be expected. The longer I trade the more I understand. After all I am still learning with every trade. Now I understand how people can trade from candlestick alone. This is because the best indicator is not on the screen but in your head. Use your brain, the best indicator of all.By the way just wanted to invite you to my flickr page.

Just an old hobby given new life with a new DSLR A350. Now I have 3 camera, each one with its own unique features. Do check out my flicr page and tell me if you like my photography style. Just needed to find a model for my portrait shot.Back to Forex its in ranging mode now but the daily chart is showing a weakness is trend. EU is a downtrend but is weakening at the moment. 30m chart is still showing a downtrend at the moment with 5m chart is supporting it.

So for today the best bet is to short EU but watch out for the long term trade.

A DIFFICULT MARKET CONDITION

It is not looking particularly well for GBPUSD. In the other hand, EURUSD and AUDUSD is looking good for a long term trade. I am taking the long position. It may take a very long time to profit but looking at the chart from a technical view, EURUSD and AUDUSD is in a good position for a long term trading.I dont exactly know the entry point but I do know the direction. It is time to monitor the shorter time frame in order to find the best possible entry and to minimize stop loss. It may take sometime but I dont care.

I have been waiting for this moment almost 2 months. Look at the charts and see the formation of daily, 4 hour, 30 minute and 5 minute. You may see something that took me over 2 years to see.

Only time can tell if my calculation is correct. At the moment I am still waiting for the 5 minute chart to give and entry signal.

ITS NOT THE SYSTEM

After more than 2 years of trading, I can tell you a story about forex system. Forex system is a way to trade to have higher chances of profit. Unfortunately not all forex system works. This is because its not the system that is not working. It is you.

What if I tell you that I have a system that consist of Moving Average only. The system can make profit and will minimize you loses or even give you a chance to break even during hard times.You would be thirll to test it out only to find out that in the end you are losing money and you say the system is crap. The truth is if one person is making money using the exact same system yet you are losing money. So where do you think the fault is?

Is it with the system or is it with yourself?You can never gain profit in Forex until you figure out what is wrong with you. Most of the time when you are losing money you would blame it on the market, news, system etc but never on yourself. Until you figure out what you did wrong, any system no matter how good will fail in your hands.

After you realize what you did wrong, then you can make money, seriously.When you know what not to do, you can trade without any indicator. I myself is trading using only MA now. Took me a while to understand but once you see it, you no longer depending on any indicator. It is your judgement that counts. I never know what I would learn the further I go in this world or Forex. Right now I am starting to understand why some traders trade without any indicator. The best indicator is in your brain. You just need to develope it. It will take some time.

No hurry.

TRADING ONLY WITH MOVING AVERAGE

At the moment I am rather busy. Moving to a new place and house. The house still needs a lot of work. As a result, I do not have time to update this blog. Trading is still going on but on a shorter timeframe. Result is consistent now. AudUsd is very kind at the moment with no sudden movement.In the next few weeks I will show you how to trade using only MA. As usual what works for me may not work for you. This is because some of you may not be able to follow the rules of the game.RULES OF THE GAME1. Trade based on your capital and the time that you have. The bigger your capital the longer the TF. The more time you have the longer the TF. Vice versa.2. Only trade at the direction pointed by the MA pairs. If the MA pairs is showing mixed direction, do not trade. The MA pairs must be pointing at the same direction.3. If a trade suddenly change direction, do not hesitate to close it at a loss and turn the trade. This is the hardest part where most of you failed.

Free your mind or become a loser all your life.4. Keep in mind, there is no such thing as winning all the time. Just make sure you win a lot more than you lose. In the end your profit will grow along with your confident.Simple system with simple rules. I like to keep it simple. No point of having the most complex system when simple system can have the same result. With this system you will be out of the market most of the time. This is because you will only be taking the big move and avoiding the small move and market noise. Last advise. Do not anticipate. Forex is not a game of inteligence eventhough this system at full swing will show you possible turning point. I am having a possible turning point for audusd at 0.7200 but I will not take it coz there will be market swing before the actual turn.

Why wast time waiting for the big move when you can actually see when its going to move.In the mean time, good luck for all of you. I will be back once my pc is online again. At the moment I am posting this on a laptop. I dont like laptop, too small keypad, makes it hard to do speed typing.

WHAT FOREX IS NOT

Forex is not a quick rich scheme.Forex is not easy even though my blog says so.Forex is not a place for newbieForex is not something you can learn overnightIf you needed the money, dont put it in Forex. Seriously. Go somewhere else.Forex is a journey, enjoy it.There is no such thing as holy grail coz there is no perfection in this world. If perfection exist in this world it would be boring. No more room for improvement.Forex is not rocket science. There is no right or wrong. There is only probability.

TRADING THE DAILY CHARTS

Due to restricted time and Internet connection that I have now, I have opted to trading using the daily charts.Its not as aggressive and thrilling as trading on the shorter time frame but the result is about the same minus the headache. I'm beginning to like daily trading. I need to make decision once in a while and the rest of the time I just hold my position.

On a daily chart, the candlestick is much easier to read and pattern is much clearer. On 13th August I opened 3 position. 2 of which is still holding while 1 has been closed. At the moment all position are in profit. Daily trading is not for everyone.

It took me sometime to adjust on the requirements of daily trading, but once you are there you never look back.Till next time, good luck everyone