Forex Speculation?

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

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

He's a blog posting from one of my friends on mySpace, Barry. To close the year I couldn't resist posting this for thought!

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Here's a revelation that changed my trading forever:

"Successful trading is imply a business of not making mistakes."

That has become such a cornerstone to my trading that I actually framed that saying and put it on my wall over my trading flat screens.

One of the most productive things you can do to become a profitable trader is to make a list of your most common mistakes.

Awareness is the first step.

Then watch your behavior and don't allow yourself to make those mistakes any more.
Each of us has her or his own challenges, so you must make your own list.

But to get you started, I'll expose my sins and share with you what have been my most common mistakes over the years. This is the official list of my own 7 most common mistakes. Perhaps you'll find it helpful:

1. Missing trades. When my setup occurs I need to make sure I'm aware of it and haven't been distracted by chat rooms, email, phone calls or lulled into boredom by a consolidating market.
I also need to make sure I don't hesitate to pull the trigger when I do see my setups.

2. Trading reversals that are not in extended trends and during which the internal market energy has not reversed.

3. Trading only 1 time frame without the confirmation of a longer term chart.

4. Trading while tired.

5. Over trading. Never try to make up for losses or missed trades. Never trade out of boredom. Never take any trade that doesn't match my rules 100%.

6. Not taking profits on my first exit soon enough. This is critical to adjust my cost position in the trade and therefore keep losses small.

7. Exiting my entire position too soon. I must keep at least part of my position alive until the energy of the trade has shifted so that I can ride the big moves.

Well, that's my confession.

Now you know my sins, but I imagine they're not so different than yours.

Have you committed these trading sins ... or your own unique ones?

The only solution is to REPENT!

That doesn't simply mean to say you're sorry.

It means to change your behavior.

Many people treat trading as:
an intellectual exercise.
a mathematical challenge.
or a research project.

Actually it's more about managing your behavior than anything else ... of course that's often the most difficult thing of all!

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I couldn't have said it better!

Barry can be found at: http://www.myspace.com/topdogtrading

Happy New Year !!

Forex Journey

Forex Trading Made Easy

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

Unplanned Forex Setback

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

Are you a forex trader or a gambler?

Here's an article I found in my files. Given the approach of the New Year, now is an excellent time to re-enforce those good trading habits and thoughts ... enjoy!!

How many pips do you need to be wealthy? The answer may surprise you.

A very common thought and question among us forex traders. Of course this is variable in desires; however it is a good idea to put things into perspective. In reality, the following is what separates the gamblers from the traders.

About 2 years ago I sent out a similar letter that changed the outlook and the lives of many traders. While most at the time were mini-traders a simple 25 pip gain equated to a mere $25.00. "How can I live off of that?" I was repeatedly asked. It didn't take long to put this into perspective.

Determining Percent Return

Profits are one thing, percent return is another. Monthly profits may add up to look nice or not so nice, but what is the actual return? I am sure we have all heard traders say, "I made 1,000 pips last month." OK.. what was your percent return? Not only for one month, but for the life of your trading.

Return Calculation

The simple return calculation is used to determine your return on an investment after you sold it. Or in this case, the profits after closing trades over a period of time.

Here is the formula:

Net Proceeds /Cost Basis - 1 x 100

Let's run through a simple example.

Suppose you traded one standard forex contract for a profit of 200 pips. This would be a raw profit of $2,000. The cost in this case was the spread and the margin needed to secure the contract; the most common margin is 100:1. Thus it cost a temporary, $1,000 to secure this contract. We say temporary because we all know we would not trade without a stop loss, most likely the stop would have been worth about $250.

Calculation:

Net Proceeds = $2000

Cost Basis = $20 (spread) + $1,000 margin

($2,000 /$1,020 - 1) x 100 = 96% (Just under 100% in a single 30 days)

So, if you are trading with a 100:1 margin and averaging around 200 pips per month, you are close to a 100% return per month.

What about per year?

Try it, you will be amazed. Hint: Don't forget to compound.

Take Home Message

Trade conservatively, a few 25 pip trades per week (300 pips per month) on a single lot can give you a return of just under 200% a month. Build your account slowly, trade with the same level of caution, just add more lots. This is the best method, the most realistic method and the lowest stress method of enjoying the rewards of forex.

John Keister

ForexInterBank

http://www.forexinterbank.com

Happy Trading from ForexJourney.com!!

Clarity

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

I define have one simple New Year’s resolution that will permeate my life and my trading – seek clarity in every aspect of my Forex trading and perform every action with intent!

I know what you are thinking; it seems kind of pie in the sky, but think about it. We should approach all our actions with clarity and intent. Design the outcome well before we enter a currency trade. Keeping mental focus it what really separates long term profits and losses.

I encourage each of you to take the time now and revisit your Forex trading plan. Learn from your mistakes, because they are your most valuable teachers. My goal is to always present clear intent into my Forex trading in 2008, what’s your intent?

Happy New Year’s from ForexJourney.com

US Durable Goods / Jobless Claims

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

AUDJPY With Bollinger Bands

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

AUDJPY Overnight Upswing

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

Timing Market Entry

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

Theoretical Investment Strategy

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

Overnight Trading

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

When You Understand....

It seems that there is a behaviour in all of us. If we do not understand, we will study it. Thats how knowledge begins. We study in order to understand things that are unclear and unknown to us but what happen when we started to understand it?

Once we know how something works, we will not see it as a challenge. For those people that love challenge, they will lose interest. This is because it is no longer something to go after. You already have the answers and started looking somewhere else for new challenges. In the end such people will not accumulate wealth but he will gain knowledge. Knowledge in the end is what matters.

Last week I lose in Forex trading. I will update screenshot when I have the time. It seems to me that I am starting to lose interest in Forex for the above reason. For other reason I will not be trading forex till start of next year. Holiday season is coming, Im going home for a long vacation and forex has started to lose it appeal.

Those of you still struggling to understand it, keep up the work. Its a feeling undescribe by mere words once you have found the answer. At the time of writing we are seeing major turn on 3 pairs which are EurUsd, UsdChf and UsdJpy. Chrismast is coming and it would be a waste of time to trade now. Let us hope a new year wil bring new fortune to us all. Happy holidays everyone.

Income masyuk

Bayangkan kalau anda mendapat income sebegini dibayar setiap minggu. Amacam? tak melompat cam beruk ke?

SMS misteri dari seseorang yang tidak dikenali

Isinya berbunyi begini:

Kalau saya jadi airmata,
Saya ingin lahir dari matamu, hidup dipipi mu dan mati di bibirmu
tapi kalau awak jadi airmata,saya tidak akan menangis
kerana saya tidak mahu kehilanganmu

begitu bermakna dari seseorang yang tidak dikenali.

Forex lak. minggu ni rugi. Nasib baik bisness lain masyuk banyak :)

Weekend Forex Thoughts

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

AUDJPY Reversals

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

Recent Non-Success

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

Free Forex Signal 11 December 2007

Here goes. What ever you do. Remember to put SL. SL is based on your guts. No guts no glory. Too much guts you will be dead.

Long Eur/Usd @ 1.4620 or better
TP 1.4870

Short Usd/Chf @ 1.1320 or better
TP 1.1060

At the moment all jpy pair is at the height of its momentum. Entry is not adviseable. Wait for it to turn then a fresh entry will be available. I lost much on JPY pair this week due to miss calculation. At the moment my account is down by more than 2k. I will post result at the end of the week.

Mixed week

Mixed week so far. GBP rate cut really messed things up. Things are really looking good for a Gbp correction where the rate cut made the correction very small and no clear market direction.

At the moment i am holding a lot of losing position hoping the market will turn back. At the same time doing hedging to cover the losing position. Hopefully next week all goes well and I manage to recover. If things do not go my way, then I will have to accept losses. Losses happen in forex and it happen a lot. Prepare for the inevitable.

Langit Tak Selalu Cerah

Forex telah digembar gemburkan sebagai satu jalan utk kehidupan mewah. Ianya kelihatan begitu anggun seperti sesuatu yang mudah dan jelas. Hakikatnya ianya tidak begitu.

Jangan sekali kali menganggap Forex adalah jalan utk mencapai kekayaan. Ianya mampu memberi pendapatan yang lumayan tetapi tidak utk mencapai kekayaan. Fakta, 10 manusia terkaya didunia tidak seorang pun dari mereka mencapai tahap kekayaan dengan forex. Malah kalau ada yang rajin, boleh kaji 100 orang terkaya didunia dan berapa ramai dari mereka kaya dengan Forex. Jawapan mungkin tidak ada seorang pun mencapai kekayaan dengan forex.

Ini kerana dalam forex langit tidak selalu cerah tapi malangnya laut sentiasa bergelora. Cabaran yang tinggi perlu dihadapi sebelum seseorang boleh hidup dilautan forex.

Nasihat ini telah banyak kali aku berikan kepada orang yang memerlukan. Kalau ingin jadi kaya, kita perlu mempunyai berbagai sumber pendapatan. Periuk nasi perlu ada lebih dari satu. Barulah boleh mencapai kekayaan, itupun kalau kekayaan yang diharapkan.

Secara ikhlasnya aku bermula dengan forex bukan kerana duit tapi kerana ilmu. Dalam dunia cuma 5% saja manusia mampu hidup sepenuhnya dengan trading forex. Kalau aku mampu tergolong dalam umat manusia 5% itu, maka aku akan jadi golongan manusia terbilang. Mudah saja cita cita aku.

Busy Week

Last week I just traded for only one day. Then Im off to Tawau for a holiday. My one and only trading day last week ended up in profit. This week I started trading today. Hopefully by end of this week I can post another trading result.

At the moment EU is looking good for a big dive. GJ is currently doing a correction before it continue its dive hopefully.

Good trading for all of you out there since today is a good day for me coz I am in profit now :D

Recent Success

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

Why the Fed is Such a Lousy Wizard of Oz

Interesting article by Susan C. Walker - check it out!

By Susan C. Walker, Elliott Wave International
September 7, 2007

Central bankers who "follow the yellow brick road" end up in Jackson Hole, Wyoming, every Labor Day weekend for their annual symposium sponsored by – who else? – the Kansas City Fed. (Who can forget Judy Garland saying to her little dog, "Toto, I've got a feeling we're not in Kansas anymore," in the 1939 movie, The Wizard of Oz?)

The Jackson Hole Resort serves as the Federal Reserve's equivalent of the Emerald City, as Fed governors and presidents meet with central bankers and economists from around the world to discuss economic issues. This year, the symposium focused on housing and monetary policy. Usually, the Fed chairman kicks off the symposium and, this year, the new chairman, Ben S. Bernanke, did the honors. He closed his speech with these words:

"The interaction of housing, housing finance, and economic activity has for years been of central importance for understanding the behavior of the economy, and it will continue to be central to our thinking as we try to anticipate economic and financial developments."

Then came the other speeches. And it seems that some of the guests in Emerald City were waiting for their chance to pull back the curtain and prove that the Wonderful Wizard of Oz isn't such a wizard after all. Bloomberg reported that "Federal Reserve officials, wrestling with a housing recession that jeopardizes U.S. growth, got an earful from critics at a weekend retreat, arguing they should use regulation and interest rates to prevent asset-price bubbles." Apparently, one academic paper presented at Jackson Hole graded the Fed an 'F' for the way it has handled the repercussions from the rise and fall of the housing market.

Truth be told, these folks are a little late to the table as critics of the Fed. We're glad they're joining us, but here's what they still haven't learned: It isn't because the Federal Reserve messes up by allowing credit, asset and stock bubbles to form that it's not a wizard. The Federal Reserve isn't a wizard for one particular reason that it doesn't want anybody to know – and that is that the Fed doesn't lead the financial markets, it follows them.

People everywhere want to believe in the Fed's wizardry. But all this talk about how the Fed will be able to help the U.S. economy and hold up the markets by cutting rates now is as much hooey as the Wizard of Oz promising Dorothy, the Scarecrow, the Tin Man and the Cowardly Lion that he could give them what they wanted: a return to Kansas, a brain, a heart, and courage. Because when the Fed does do something, it always comes after the markets have already made their moves.

If you don't believe it, you should look at one chart from the most recent Elliott Wave Financial Forecast. It compares the movements in the Fed Funds rate with the movements of the 3-month U.S. Treasury Bill Yield. What does it reveal? That the Fed has followed the T-Bill yield up and down every step of the way since 2000. And the interesting question becomes this: Since the T-bill yield has dropped nearly two points since February, how soon will the Fed cut its rate to follow the market's lead this time?

[Editor's note: You can see this chart and read the Special Section it appears in by accessing the free report, The Unwonderful Wizardry of the Fed.]

We've got our own brains, heart and courage here at Elliott Wave International, and we've used them to explain over and over again that putting faith in the Fed to turn around the markets and the economy is blind faith indeed.

"This blind faith in the Fed's power to hold up the economy and stocks epitomizes the following definition of magic offered by Teller of the illusionist and comedy team of Penn and Teller: a 'theatrical linking of a cause with an effect that has no basis in physical reality, but that – in our hearts – ought to be.'" [September 2007, The Elliott Wave Financial Forecast]

Because, you see, what makes the markets move has less to do with what the unwizardly Fed does and more with changes in the mass psychology of all the people investing in those markets. The Elliott Wave Principle describes how bullish and bearish trends in the financial markets reflect changes in social mood, from positive to negative and back again. To extend the metaphor: The Fed can't affect social mood anymore than the Wonderful Wizard of Oz could change the direction of the wind that brought his hot air balloon to the Land of Oz in the first place.

As our EWI analysts write, "With respect to the timing of the Federal Reserve Board rate cuts, we need to reiterate one key point. The market, not the Fed, sets rates." Being able to understand this information puts you one step closer to clicking your ruby red shoes together and whispering those magic words: "There's no place like home." Once you land back in Kansas, your eyes will open, and you will see that an unwarranted faith in the Fed was just a bad dream.

Susan C. Walker writes for Elliott Wave International, a market forecasting and technical analysis company. She has been an associate editor with Inc. magazine, a newspaper writer and editor, an investor relations executive and a speechwriter for the Federal Reserve Bank of Atlanta. Her columns also appear regularly on FoxNews.com.

Forex Journey

FX Trade Central

Slow Down Week

Last week started with a high momentum movement but in the middle of the week its slow down. During slow down period its getting harder to trade plus I was on the plane to Kuala Lumpur for one day.

Anyway here is the result. Not as good as last week and i expected more.

Btw just bought Nokia N95. Anyone here have any idea how to install software on this phone. Its different from previous Symbian.

Success With AUDJPY

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

Forex Signal 20 November 2007

Long time since I posted a signal. Been quiet bz with office work. Its a blessing actually to be in the office, coz I can trade while doing my office work.

Lately time doesnt allow me to take short term trade, as a result I revert back to my old system using 4H TF but with add on from my short term system. Result is very impressive.

Here goes for the signal, but before you take it seriously I must warn you to use SL appropriately. Losses are unavoidable in forex, the only thing that kept me alive this long in this hazardous market is maintaining small losses while taking big gain.

GBP/JPY
On the short term side (30m) GJ is still a short trade but slowly it has turned to long trade on 4H chart. Sooner or later GJ will have to go long due to intermediate buying pressure but be warned, GJ is an all time short market in long term period. Advise is to take the long and get out while you are in profit coz in the long run GJ will take a dive to the unknown.

Long Gbp/Jpy @ 224.76 or better
SL is on your own but calculation of lowest value somewhere 224.24
Your entry window should be from 224.76 - 224.24
TP 227.10, 234.90, 240.40

What a week.

It has been a good week for both long and short position. I still have some position still open coz havent reach my tp yet. Anyway here is a screenshot of it. Truly I enjoyed it. :)

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

By Susan C. Walker, Elliott Wave International
November 12, 2007

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

The recent tremendous ride up for global and U.S. financial markets, including the Dow, looks and feels more like a mania than a mere bull, says Elliott Wave International analyst Peter Kendall. This distinction is important to recognize in the rising stage, because manias always result in a crash that takes them back beneath their starting point.

Kendall recently published his research into current financial manias throughout the world in SFO (Stocks, Futures and Options) magazine. The article, titled "Financial Manias and the Trade of a Lifetime," suggests an even more stunning finish for the current manias: "The speed and global scope of the unfolding credit crisis suggest that most of the fast-rising markets of the last decade will crash in unison," he writes.

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Editor's note: Elliott Wave International invites you to read the full five-page article with charts from the October 2007 SFO magazine by Elliott Wave International's Pete Kendall called "Financial Manias and the Trade of a Lifetime."

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As co-editor of The Elliott Wave Financial Forecast, Kendall searches for trends that help traders to move in and out of markets. By comparing other historic manias with the impressive rise of the DJIA since the late 1970s, he focuses on the skyscraper pattern that they all have in common. The four historical manias are the Dutch Tulip mania of the 1630s, the South Sea bubble of 1720, the U.S. stock crash of 1921-1932 and the dot.com bust of the 1990s and early 2000s. Once you can see the similarities, you will be better prepared to face the music when the crash comes. As Kendall writes, "once the belief that the markets will always rise becomes widespread, it actually signals the start of a price swing that tends to be a career-breaker for any trader who tries to oppose it."

He also discusses current manias, such as the Nikkei, which has yet to return to its start after a manic rise to its all-time high in December 1989, and the Dow, which reversed from its rise in 2000 but made a U-turn in 2002. The starting point for the Dow's mania as shown in the chart included in the article is at the 1000 level.

Kendall, who is also writing a book about financial manias, titled The Mania Chronicles, describes five telltale signs that help an investor to tell the difference between a regular bull market and a mania. It's a mania if:

1. There is no upside resistance, and rising prices seem to be perpetual.
2. Everyone in the market looks like an expert.
3. There is a flight from quality investments to riskier investments.
4. As financial bubbles pop in one area, they bubble up in others.
5. The crash after the peak takes back all the gains the mania made.

No. 5 can be viewed only with hindsight. But the first four signs provide essential clues to what's shaping up in the markets.

"By studying past mania experiences, traders can gain valuable insight into the collective emotions that drive their markets," writes Kendall. "It's possible to make significant money in the advancing stages of a mania with no knowledge of its existence. But there is nothing like recognizing a mania for what it is in real time to help a trader keep those gains and deal with the relentless crash after it peaks."

In the last part of the SFO article, he asks the key question, Are we at the peak yet? Find out his answer by reading the whole article for yourself.

Susan C. Walker writes for Elliott Wave International, a market forecasting and technical analysis company. She has been an associate editor with Inc. magazine, a newspaper writer and editor, an investor relations executive and a speechwriter for the Federal Reserve Bank of Atlanta. Her columns also appear regularly on FoxNews.com.

100% return on capital per month.... possible???

Just wanted to get your view on this topic. Is it possible to get a return of 100% every month on your capital by trading forex????

For example you have $1000 in your forex account. Every month your profit is $1000++. Is it possible to do this by trading forex. If anyone of you out there can do it, do post your result here.

Just wanted to see if its possible to do it or to maintain it month after month.

Time To Accumulate A Carry?

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

AUDJPY Unwinding

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

AUDJPY Thoughts

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

Sesuatu Yang Unik

Kebiasaannya aku akan post dalam English tapi hari ini aku post dalam Bahasa Malaysia. Hari ini juga bukan cerita mengenai Forex tetapi cerita yang lebih bernilai dari forex atau wang ringgit. Sesuatu yang kita semua ambil mudah kerana ia dinikmati setiap hari.

Aku adalah seorang yang teknikal dimana setiap satu bende akan aku kaji dan cari jawapan secara logik. Hasilnya aku mempunyai kemahiran yang tinggi dan banyak. Antara kemahiran yang ada pada aku adalah aku boleh membaiki kereta, motor, komputer, alat eletrik dan macam macam lagi. Kebolehan orang teknikal

Bende yang lebih bernilai dari wang ringgit yang aku maksudkan adalah kesihatan. Kesihatan yang kita semua miliki secara percuma setiap hari hingga kita lupa ianya adalah satu nikmat yang tidak ternilai harganya.

Baru baru ini aku ada membeli gelang tangan magnetik. Bab citer magnetik ni dah lama aku dengar. Ada orang letak magnet kat minyak kereta, kat badan dan macam macam lagi lah. Yang pastinya bende tu tak logik dan setakat yang aku faham, ianya tak berfungsi. Walaubagaimanapun kefahaman aku terpaksa ditukar dan aku terpaksa menerima hakikat yang tidak logik.


Abang aku telah memperkenalkan gelang magnetik kepada aku. Atas sebab abang aku sendiri, maka aku belilah gelang yang seperti didalam gambar ini. Gelang tu cantik, amat cantik dan unik kerana dibuat dari Tungsten Carbide. Harganya cuma RM890 sahaja. Jangan takut, kerana ada gelang dari Stainless Steel yang harganya RM215 kalau ada yang tak mampu.

Aku pun memakai gelang tu dan tanpa disangka sesuatu yang tidak masuk akal berlaku. Dalam masa seminggu kesihatan aku lebih baik, tidur lebih lena dan tenaga aku meningkat. Aku pun mencari di internet penjelasan atau kertas kerja para saintis mengenai Bio Magnetic Therapy. Yang sebetulnya tidak ada satu pun kajian yang jelas menunjukkan Bio Magnetic Therapy betul betul berfungsi. Kebanyakkan saintis hanya mengatakan ianya adalah kesan psikologi sahaja yang membuatkan kita berasa lebih sihat. Walaubagaimanapun NASA menggunakan teknologi magnetik ini pada sut angkasawan untuk mengurangkan kesan ketiadaan medan magnet bumi pada angkasawan.

Selepas itu aku memperkenalkan gelang ini kepada beberapa rakan dan mereka membelinya kerana harganya yang mampu dimiliki. Dimasa yang sama aku juga menanti maklumbalas dari mereka. Untuk makluman aku telah menjual lebih dari 10 gelang ini dan tidak seorang pun dari mereka yang mengatakan ianya tidak berfungsi. Yang lebih pelik lagi, ada antara mereka mempunyai masalah tekanan darah tinggi yang kronik. Hasil pemeriksaan doktor, tekanan darah mereka telah bertambah baik dan ada yang kembali normal. Memang satu yang pelik, kerana kalau ianya kesan psikologi takkan pemeriksaan doktor menunjukkan peningkatan dalam kadar kesihatan mereka.

Ada kes kes yang aku temui sendiri dimana mereka yang sakit bertahun lamanya telah sembuh dimana mereka tidak lagi memakan ubat yang dibekalkan oleh doktor. Ini kerana mereka tidak lagi berasa sakit setelah memakai gelang tersebut dalam masa 2 minggu.

Jangan tertipu dengan gelang yang banyak dijual dipasaraya, pasar malam dan sebagainya. Ianya tidak berfungsi dan telah dicuba. Untuk gelang magnetik ini berfungsi, aku difahamkan magnet itu dibuat dari bahan tertentu dan mempunyai ukuran kuasa yang tertentu utk bertindak balas dengan badan manusia. Oleh itu jgn membuang duit keatas sesuatu yang tidak berfungsi dan berkemungkinan memudaratkan badan.

Apa yang aku tulis disini adalah hasil penemuan aku keatas sesuatu yang unik. Sesuatu yang aku tidak sangka. Ramai orang yg aku temui tidak percaya akan cara perubatan ini dan aku juga tidak memaksa utk orang percaya. Terpulang kepada individu untuk menilai tapi pada aku, aku amat berpuas hati bila melihat orang yang menderita sakit bertahun lamanya sembuh dan dengan ikhlas berjumpa dengan aku bersalam dan mengucapkan terima kasih.

Kepada yang berminat utk mengetahui lebih lanjut boleh melayari laman web Edymium. Kalau yang berminat untuk mencuba/membeli boleh hubungi aku di 016-8178343. Bukan niat nak promo tapi bila kita menemui sesuatu yang amat baik, secara lumrah kita akan berkongsi dengan orang lain. Ini kerana sifat semulajadi manusia, kita adalah makhluk yang sosial dimana kita tidak boleh hidup sendiri.

Baca, kaji dan buatlah keputusan sendiri.

Rusdhi Mohamad

Bragging Rights on the AUDJPY

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

Trending the 5 min AUDJPY

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

PTSU

Testing...

Forex Scalping Information

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

Free Forex Signal 24 Oct 2007

As usual there is no certainty in Forex but there are high probability if you are good at it.

1. Short Gbp/Usd @ 2.0515 or better

2. Short Gbp/jpy @ 235.68 or better

I will not give stop loss or take profit since that is on the money management side. Manage it well and with a good system you can gain.

Good luck

Grabbing Some USDCAD Pippage

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

Selamat Hari Raya Aidilfitri

Kepada semua umat Islam tidak kira dimana jua anda berada, Selamat Aidilfitri diucapkan. Kepada yang tidak berugama Islam juga diucapkan Selamat Aidilfitri. Kita warga negara Malaysia mempunyai budaya yang unik dimana kita dapat hidup aman didalam satu negara yang mempunyai berbagai bangsa. Syabas untuk kita semua kerana berjaya menjaga keamanan ini. Semoga ianya berkekalan abadi

My new bracelet

There are certain things sometimes that you bought and you immediately know its a good thing. Things that you like/love and would like to show it to people. Its not show off just that to share with people about things that you find good.

I just bought a new bracelet. It cost RM890. Its made of Tungsten Carbide. Its big, heavy and all shiny. It is soo shiny, it looks like glass yet it is metal.



This picture is taken with my mobile phone as my digital camera is at my home in KL. It actually look much more impressive than what is in the picture. It is shiny, it is catching and bouncing light from all angle. I really like it when I walk out in public and people are starring at my bracelet. Its not gold, nor it silver but it is shinning a lot more than gold or silver.

Anyone of you would like to see more headover at this website. Maybe you will find a pattern that you like. :)

Free Forex Signal 5/10/2007

For yesterday trade EU and UJ ended up in profit indeed becoz both the pair tends to move towards the given signal. Hope those that follow the signal got out with profit coz there are a lot of swing going around.

For this morning, my charts are giving these signals:

1. Gbp/Usd
Short Gbp/Usd @ 2.0392 or better
SL on your own
TP 2.0370, 2.0352, 2.0334, 2.0277 and more

2. Gbp/Jpy
Short Gbp/Jpy @ 237.42 or better
SL on your own
TP 237.18, 236.98, 236.78, 236.14 and more
Word of caution, GJ is a pair that swings alot. You will have to stand lots of negatif pips at time before making it actual move. I prefer not to trade GJ

At the time being EU and UJ still gives the same signal as yesterday. I decided to close position

Its been a while

Its been a while since i posted. My internet connection at home is bad now thanks to tmnuts streamyx. been extra bz with work, just get out of hospital due to torn muscles. hopefully i can post regularly in the future.

Free Forex Signal:

1. Eur/Usd
Long Eur/Usd @ 1.4100 or better
SL on your own
TP 1.4111, 1.4128, 1.4142, 1.4155 and more

2. Usd/Jpy
Short Usd/Jpy @ 116.60 or better
SL on your own
TP 116.47, 116.29, 116.15, 116.01 and more

These are short term trades since I found myself having less time to trade nowdays. All the best.

USDCAD Is Playing By My Rules

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

USDCAD Edges Lower

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

USDCAD Once Again

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

Missing the USDCAD Bottom

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

Financial Excitement

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

Bottom Spotting the USD/CAD

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

The EUR/TRY Carry Trade

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

Market Not Active

For the past 2 weeks the market is not very active. Just now its starting to move. When the market is not active I rarely trade and even if I do trade it would be small TP and SL. At the moment I have 2 post newly open. Its in profit now just hoping for a bigger return.

When the market is not active, I do other things. In these 2 weeks, I have upgraded my pc and car. Pc and cars are my hobby now.

My PC:
At the moment I have 2 desktop and 1 laptop. I wanted to buy a new pc but if I do buy a new pc I will have 3 desktop which is an overkill for me alone. Im not about to open a cyber cafe at my home.

Upgrade Spec
1. Abit AN9 32X RM570.00
2. AMD Athlon X2 +4000 RM235.00
3. Kingston 1GB DDR2 X2 RM278.00
4. Geforce 8600GT RM395.00
5. 350W Power Supply RM110.00

My pc upgrade cost me RM 1,588.00

My car:
I also upgraded my car ekzos system and intake system. It is an upgrade long overdue since the original piping already have holes here and there.

Upgrade Spec
1. Complete ekzos system + muffler RM305.00
2. Intake pipe + K&N filter RM400.00
3. New Head Unit. Now can play SD directly RM398.00

My car upgrade RM 1,103.00

guess what, at the moment it is much cheaper to upgrade your car compare to upgrading a pc.

Then I was looking around the net and found this website. It sells magnetic bracelet. Sort of Bio Magnetic Therapy. I go and buy one and wear it. The first time I wear it, I felt dizzy like I was drunk of something. I cannot even smoke cigarette any more. That night I had a good night sleep. The best sleep since a long time. Its like someone switch off the power. The next morning its all good. Looks like Bio Magnet Therapy really works. The bracelet is good looking, it give you bio magnetic therapy and also its a MLM business. Personally I dont do MLM anymore but since the bracelet is giving you a chance to actually make money, its a very good deal. Not only does it looks good, it keeps you healty and give you good opportunity make money.

Its 3 in one package. Looks good, Feel healthy and make money. woooooo. Anyone interested can contact me @ 016 8178343.

Trailing Stop Strikes

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

Riding the USDJPY Train

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

Minimal Participation

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

Riding the AUDUSD Upswing

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

Gun Shy

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

You Have to Play to Win

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

Every Day Feels Like Sunday Baby

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

Grinding Out the Pips

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

Trading Begins in Three Hours

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

Trading Begins in Five Hours

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

Forex Review: Taking Stock

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

Trade Free Weekends

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

This Business Is Tricky

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

Exchange Rates Differ From Stocks

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

Rookie Survives

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

Looking At Me Sideways

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

New Strategy Yields New Results

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

A Couple Trades

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

Amazing New Signal Devised

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

Understanding The Advertising

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

I Was Right!

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

Definitely Getting Spanked

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

Getting Spanked

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

Holiday Doldrums

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

Reporting Some Losses

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

Discovering Price Alerts

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

How The Market Move

After looking at charts for over 1 year now, I have made a conclusion on how the market move. It may differ from other people point of view but at least this is how I made profit or loss in Forex Market.

The Market generally move once or the most twice a day. That is how much Forex market move. There is no point on being stuck in front of the pc the whole day since it will only move once. If you dont belive me look at any pair in timeframe 1 hour or less. Forex doesnt move in straight line but it has a tendency of moving to a particular direction in a zig zag motion.

The idea is to develop a system or set of indicators that will give you an entry early enough for you to profit when the market makes its move. There is no way you can tell the move before its moving. The price must move at least a little to a particular direction before you signal is triggered. Then you enter the market and take the remaining move.

The system must only give you signal once a day or twice the most. Because its a daily trade dont expect much. Sometimes condition are bad even 5 pip is enough. You must remember that if you are trading less than 1 billion you are small fish in the sea. Take what you need and leave or else get eaten by the big fish.

In developing the system that will take advantage of Forex movement characteristic, I sense that I have succeeded. I have a system that will give signal only once a day or twice the most. Like most Forex system in the world, there are difficulty finding the right entry and exit point. An entry and exit that will give you the most out of the move before it will retrace.

In the end, its about how and when you enter. There are no room for mistakes here since mistakes are costly. From the very 1st trade you make till the last trade, the risks are all the same. Experience is an advantage but its not an insurance. Once everything turns bad, there is no saving you.

Welcome to the World of Forex

Phew! Weekend Survived

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

Tick, Tick, Tick

Only three and a half more hours...

Impending Day Trading Resumption

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

How To Become A Currency Trader

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

24 Hours A Day 6 Days A Week?

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

New User Mistake

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

First Use Of Limits

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

Another Trading Session

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

Lucky Morning Session

This morning I was quite simply very lucky. I had been having network troubles and was not able to watch my position closely for several hours:B EURUSD @ 1.3625B EURUSD @ 1.3612B EURUSD @ 1.3606B EURUSD @ 1.3603B EURUSD @ 1.3597When I did finally get my network fixed, I was sitting pretty with:S EURUSD @ 1.3650 (x5)Wow, I'd just turned $100.33 into $121.03 in a morning. Can you believe the ~20%

First Evening Trading

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

About This Blog

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

Elliott Wave Free Week

Just a reminder:

It's FREE Week at ElliottWave.com!!

Click here and get your FREE content

Free Week End August 29.

Forex Journey Interview on Forex Education

Hey Team!

Click here to hear a recent interview I did with Interviews with Prosperity on the importance of Forex Education.

Happy Trading!!

Example trade using Bollinger Bands

This picture is a chart of GJ where you can see my entry, SL and TP. It was taken right after I enter the market. I opened 2 post there.



This picture was taken this morning after the price has moved. Its a beautiful picture and it works most of the time.



This is a daily statement of yesterday trade. You can see that I have closed the 2 GJ post earlier than my TP target. Anyway yesterday was a good day to trade. As for today GJ continue to go uptrend with a correction coming soon. Wait for that correction and enter if the strength holds.

Forex Education Tip – 5 Steps to Successful Forex Trading

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

Like the TV show says … “How’d they do that, anyway?”

That's the million dollar questions, isn’t it? Countless books, seminars and expos have been hosted to answer this very question. That sad fact is that thousands of books have been written and countless seminars and interviews have been conducted in an attempt to answer the magic questions. The reality of the situation is that there is no magic formula; no one single Holy Grail of Forex trading.

So what do the successful traders do that the rest of us have simple not comprehended. They have mastered a process of winning where they combine and customize several factor to produce consistent results. They have mastered the Process of Trading.

The Process of Trading is:

Strategy > Money Management > Self-Mastery

Here are some simple Forex Education tips to help you master the process of forex trading:

Forex Success Tip #1 – You’ve Got To Have a Plan

You must have a written business plan that will detail all aspects of your trading. When are you going to trade, how much to risk, strategies for entries and exits are just o name a few. To become a consistent (profitable) Forex trader you have to plan your trade sand trade your plan.

Simplicity rules! Don’t make this plan too complicated. One sheet of paper for you mission statement and another for your trading plan should suffice. Anything more is probably too complicated.

Forex Success Tip #2 – Focus on Your Personal Psychology

Knowing yourself will allow you to master the discipline necessary to execute high quality trades with solid money management techniques. Lack of discipline is fatal in Forex trading. Go on a personal journey to identify you attitudes towards risk and money. Get intimate with your strengths and weaknesses as a trader and build in to your trading plan strategies to minimize those weaknesses and maximize your strengths.

Different personalities lend to different trading styles. Get familiar with all the different styles and over time you will begin to gravitate towards one particular style. Don’t fight the urge like I did. I insisted I was a day trader, but had only limited results. I found my winning percentages were much higher when I entered swing trades. Guess what’s my bread and butter strategy now!

Forex Success Tip #3 – Be Realistic About Your Expectations

This is a hard one, I know! I am on the internet every day and the amount of advertising is staggering. Brokers are offering free education (fox in the hen house if you ask me), forums of all different trading styles and points of view. Gurus pushing their system as “the one” that will make you the big bucks. How do you get through all that noise?

Let me tell you loud and clear right now – everyone is right and everyone is wrong. You have to make a personal commitment to become a successful trader, find a trading style that works for you and expect a slow and steady approach to wealth building through Forex.

What works for me may not work for you. Expect to go through an exploratory period where you are learning and at the same time exploring yourself as a trader. Keep an open mind and don’t pay attention to all the noise out there.

Forex Success Tip #4 – Be Patient

Rome was not built in a day and neither will your trading account. In fact, I tell all of my students that while they are studying to become successful Forex traders they should not look solely at their account balance as an indication of success or failure.

By tracking and increasing your percentage of high quality trades you execute is a far better barometer of your progress than your account balance. Cause and effect rule here. Over time when you increase your probabilities through the execution of high quality trades your account balance will respond accordingly.

Keep the focus on the process and with time your results will blow your mind.

Success Tip #5 - Money Management Is Top Priority

I would rather have a shaky strategy and excellent money management techniques than the other way around. This topic warrants its own blog post to do it justice. Limited your exposure (read “risk”) allows for you to stay in the game and allow the laws of probability to work.

Let’s take a casino for an example. They need gamblers to frequent their slot machines to make money. Why? They have a game that has a greater than 50% chance of making money for the house. The more people that play the slots, the greater the casino’s profits.

The casino controls risk by payout tables (always favoring the house!) and increases their probabilities by keeping gamblers at the slot machines (read “free drinks”). As a trader you must limit your risk by committing only 1% - 3% of available capital to a single trade. When you execute enough trades with a high probability strategy you too can clean up like the casinos – but only by staying in the game long term.

In conclusion, Forex trading is not easy. It’s hard work and will test the limits of your patience and perseverance. If anyone tells you otherwise .., buyers beware! It can be a very rewarding and profitable venture if done correctly. In the end it is a profession that requires a learning curve and practical experience, no different than an airline pilot or engineer. Understanding how to approach and learn this game will allow you to reap all the benefits advertised. It is your Forex Education that you will master the Process of Forex Trading.

Happy Trading!!

Trading with Bollinger Bands

WHAT IS?

Bollinger Bands are a technical analysis tool invented by John Bollinger in the 1980s. Having evolved from the concept of trading bands, Bollinger Bands can be used to measure the highness or lowness of the price relative to previous trades.

Bollinger Bands consist of:

1. A middle band being a N-period simple moving average
2. An upper band at K times a N-period standard deviation above the middle band
3. A lower band at K times a N-period standard deviation below the middle band

Typical values for N and K are 20 and 2, respectively.

The bands cannot, as some have supposed, be used to make reliable statements regarding what fraction of an equity's prices will lie within a certain distance of the mean value. This is because an individual equity's price does not obey known distribution functions (see stochastic process). For example, if the bands for plus or minus two standard deviations (2SD) are computed, it is wrong to suppose that ~95% of an equity's closing prices will, on average, lie within the Bollinger bands. That would require, among other things, that the prices be normally distributed, which they are generally not. It would further require that the true standard deviation be known. The standard deviation calculated as above, however, is only an uncertain estimate of the true standard deviation. Furthermore, it should be realized that the "standard deviations" of stock prices for finite time periods are not fixed parameters as required to apply classical statistical theory, but instead are variables in constant flux depending on price volatility. The bands give a visual picture of a stock's price volatility. Nevertheless, the bands can be useful in the technical analysis of prices or returns and by Chebyshev's inequality contain at least 75% of prices. These occurrences should be considered in relation to other factors before making investment decisions.

It is of interest to note that faulty interpretation of a price touching or breaching a band based on incorrect statistical assumptions has become so widespread that some traders now use these events alone as trading signals and by so doing may have unwittingly injected significance into these band-touching events that should otherwise be absent. Nevertheless, anyone can observe over time, that for a diversified group of mutual funds, say, the proportion of daily adjusted close prices that breach their 1-month 2SD Bollinger bands varies between 5% and 15% of days, with each fund having a fairly constant, characteristic long-term breach probability descriptive of its long-term, relative volatility.

When the bands lie close together a period of low volatility in stock price is indicated. When they are far apart a period of high volatility in price is indicated. When the bands have only a slight slope and lie approximately parallel for an extended time the price of a stock will be found to oscillate up and down between the bands as though in a channel.

The use of Bollinger Bands varies wildly among traders. Some traders buy when price touches the lower Bollinger Band and exit when price touches the moving average in the center of the bands. Other traders buy when price breaks above the upper Bollinger Band or sell when price falls below the lower Bollinger Band. Moreover, the use of Bollinger Bands is not confined to stock traders; options traders, most notably implied volatility traders, often sell options when Bollinger Bands are historically far apart or buy options when the Bollinger Bands are historically close together, in both instances, expecting volatility to revert back towards the average historical volatility level for the stock.

HOW I USE IT

I use 2 Bollinger Bands with the same value on my technical charts. These 2 BB are for:

1. Trend Reversal Detection
2. Exit Target
3. Entry Point

Before we go on any further, a visual display is needed since we human learn faster through our visual.



As you can see in the graph, there are 2 BB with RSI. There are 5 set of circle indicating when the price cut thru Bollinger Bands. I will try to explain here according to numbers in the chart.

1. Price cut the upper BB at the same time RSI only cut thru middle band. Indicating the price is over bought while RSI is showing weakness. That is your point to short.

2. Price cut thru the lower BB and RSI is doing exactly the same. This showing that the price is according to strength. Exit at will. This also indicates a new trend has started. Take only short position from now on.

3. Same as no.2, this is your exit position. RSI agrees with the price. Continue to trade short.

4. Price cut thru the lower Bands but RSI is in the upper part of the Bands. This is a sign to start thinking of reversal. Lowest price at that point was 1.0550. Normally I would give out signals based on that lowest price.

5. Price makes a new low of 1.0530 and RSI still disagree with it. This is due to last minute trend traders who are pushing the price even lower thinking the trend is still there. I must agree, the trend is still there but the strength is gone long ago.

If I were to trade this pair, I would give out a signal to long @ 1.0550. The price hit bottom at 1.0530. Meaning there was a -20 pip position hold. Now the position is +30 and guess what. Its breaking the middle bands. Once the middle bands is broken and it cut thru upper bands and RSI agrees with it, we have ourself an uptrend. Meaning that I have trade the pair much earlier than most traders do because they are trading on trend.

At the time of writing I am holding ucad long with SL at breakeven. The worse thing that could happen is ucad reverse making a new low leaving me with nothing. If all goes well, I would like to see that upper band and make my exit there.

Of course there is no certainty in forex. In this article I am only showing the possibilities of using only BB and RSI to trade forex. Currently I am using 4 indicators to my technical analysis. Maybe some of you out there can do much better and come up with a better system.

Update:

As you can see in the picture, those circle are my entry and exit point. At the time of writing, I have already closed 2 position with +97 pip and holding 1 position with SL at +8 pip. Thats brings a confirmed total of +105 pip for ucad alone.

Looking at the chart, Ucad is still a long trade but there is not much follow thru. This maybe to the fundamental effect saying usd dollar has been so weak all this while making trader unwilling to enter on usd side.

Remove Some Advertising

I have remove some advertising. In the beginning, they are there because they are flasy, full of colours with attractive animation. Someone decided to comment that my blogs is full of advertising.

Ok, it is remove. Now I see my blog as empty. Its dark with just text. Any idea to improve the looks of my blog?

Forex Education Tip - Stops

Let me just give you a quick tip about setting stop losses.

I once took a class where I was instructucted to place my stop loss 30 pips below my entry. Why 30 pips I asked? I was told it was an "acceptable" risk. Based on what? I see a lot ot traders basing their risk management strategy on some pre-defined pip value risk without any consideration for support and resistance.

Don't do this!

Like I say - trading Forex is a process and setting your stops is a key component. Your stop should be placed near support and/or resistance based on the charts and not some pre-defined pip value. Caution: stay away from the herd!

Simply:

1. Locate support and/or resistance for your stop
2. Calculate your target to determine a reward-to-risk ratio
3. Determine whether you can afford the trade
4. If all systems are a go then pull the trigger

Setting a pre-defined stop makes no sense if all you can guarantee is to get stop out of your trade and have it eventually go in your direction. Let the market tell you where to protect your trade and when to take profits. This is why 2 traders can look at the same charts, establish the same trade and one trader pull the trigger an the other traders pass.

Follow YOUR trading plan and begin to take your trading to new heights. Your Forex Education is the path to true Forex profits!

Happy Trading!!

I Missed Most Of It

Last week was a busy week + I have a bad flu. I only manage to trade on Friday last week and got out with a lot of pip. Thank god.

As for next week, opening of next week will be tricky. Last friday we saw a jump on GU, EU, GJ and EJ. That last jump really upset the downtrend. It would be very difficult to trade those pairs now.

Last hope is to use a breakout system. Hopefully next week we can see a clear direction of trade. May many pip be with you.

Is Paid Forex Education Worth It?

I am scanning the internet looking for information about how I can be a better trader just like most people out there. I am on a quest looking for each and every golden nugget of information out there on the web. I have alerts set up so Google can email every keyword topic of choice.
I have been getting fired up recently about the amount of just plain bad Forex advice slewed across the web. It is definitely a “buyers beware” market and every word of advice (including mine) should be taken with a grain of salt. Why? Because everything I say and write is based entirely on my own experiences.

One of the topics gaining some momentum is the fact that everyone pitching a Forex product is not a trader, but a marketer and if they were a trader they would be trading and not trying to sell you something.

What a bunch of BS!

Yes, I do believe all the information that one needs to trade the Forex profitably is available free on the internet. I challenge anyone new to Forex to assemble the information, study and execute without any assistance. I would imagine every trader out there has gathered free information and put it to use, but the truly valuable information often is not free!

Example – I read Steve Nison’s books and DVD’s (highly recommended by the way) to gain the necessary insight into candlestick charting. I also paid a couple of hundred of dollars to attend a live seminar. During that seminar Steve Nison made one comment that allowed all of my previous work in candlesticks to click and take my trading to the next level! Was it worth it? Hell yah! That one comment was the only peice of new information I gathered, however it has paid for the seminar 100 times over. Not only that, the opportunity to network with other traders introduced new ideas and approaches that I hadn't thought of previously.

In the end it's a personal decision. After all it's your money. Trading is a profession just being a pilot, a doctor or an engineer. Each requires dedicated training, personal development and instruction to gain proficiency. You would never go to a dentist that learned how to fill cavities on the internet (this information is available there too!), so treat your Forex account the same way.

I am calling all you freebie seekers out! Stop being cheap. Your Forex Education is an investment and not a cost. Cutting corners will only cost you more money in the long run.

Happy Trading!!

Forex Education Tips - Overcoming Fear

Have you ever been in a situation where you have evaluated the market, saw your strategy set-up perfectly and then just couldn’t pull the trigger? You become paralyzed, unable to move even though you know your high probability set-up has just triggered.

This fear is very real for many traders and very detrimental to your account. Fear is a powerful emotion, distorting fact from fiction and often creating an emotional response. Many experts tell you to trade without emotion, but is that really practical? We are indeed human. Remember the basis for the reaction is real, but the fear usually is not.

Fear blocks your ability to execute high probability trades and we must find strategies to manage our fear. With time comes experience and for traders it is the ultimate super hero for fear.

In the meantime, if you are struggling with fear-based execution challenges here are some simple tips to get you over the hump.

Embrace the Emotion

Acknowledge your emotions. If you find yourself analyzing a trade to the point of paralysis don’t try to ignore the emotions. Separate yourself from this river of negativity. Visualize yourself on the river bank as these torrents of emotions are flowing by. You will gain great awareness to the triggers and learn a lot about who you are as a trader.


Separate Fear from Fact

If you fear pulling the trigger because of loss (what if I am wrong?), that will stop you from enjoying the profits the market may make available to you at any given time. Don’t avoid the action that might cause the loss, but re-frame the problem as fear itself. You have evaluated the market, figured out your reward –to-risk ration and accepted your potential for loss through your stop-loss and money management plan. At this point loss is not the obstacle – fear is. There is no such thing as failure, only feedback and that will guide you to consistent and profitable trading.


Re-Think the Consequences

If your mind is off to the races with all sorts of possibilities what’s the worst that can happen if Murphy’s Law gets enacted during your trade? You have already addressed this in your trading plan. Plan your trade and trade your plan. Again fear is trumped and the only way it can be realized is if you didn’t follow your plan. Sticking to your plan is the clearest way to distinguish between a losing trade, which is just a part of business, and a bad trade which is a career killer!

Act in Spite of Fear

Feel the fear and do it anyway. Return to your mission statement or your “why?” statement. The reasons you trading should be big enough to overcome any possible obstacle your fear emotion can conjure up. Acknowledge the fear and do it anyway. You may not have a winning trade, but you will have executed your plan and over time probability will pay you back.

What is all comes down to is the intangibles of trading. Why do I and so many others drive home discipline-based Forex Education and Training approaches. You will never get rid of fear, but with practice you can turn it into a manageable obstacle and deploy it to your advantage.

Happy Trading!!

Looking at Elliot Wave

This is a screenshot of EW on daily EU and GU. What do you think?

Forex Education - Fully Present

This means rejecting thinking that doesn’t support your current trading objectives, including rejecting non-trading related mental chatter (what’s for dinner, balancing your check book, who’s on American Idol tonight, whatever). Your goal is simple -- to zero in on the trading task in front of you. Enter your personal trading zone. Deny all incoming calls. Don’t check your email and please do not even think about logging into your Instant Messenger account. You’ve got to be in a place and time where you can trade without being disturbed.

Ask yourself – Where Am I? The answer is - Here

Ask yourself – What Time Is it? The answer is – Now

When you become fully present on the task of trading, you are able to achieve peak performance and gain an edge on the other traders in the market at that moment. How many times have you often have you been trading, felt in rhythm with the market, and then you become distracted, surfed the web (OK, you busted me!), checked your email and all of a sudden, your trade fell apart because you overlooked an indicator or failed to see what economic releases where due out during your trading session.

Trading in the here and now is not only powerful, it is extremely profitable! When you can direct your focus on your trading task without distractions you become invigorated and infused with the energy that comes from requiring yourself to be fully present when trading, you’ll find that your trading all of a sudden becomes a little easier and enjoyable. When you reach this state, stop briefly to observe it and how you feel so that you can summon this mental state more easily in the future. And journal it so you can recall all the factors that contributed to your success. That way you’ll be able to set yourself up in a repeatable, successful trading environment. Your journal will become the greatest trading tool you'll ever own!

To not become fully present when trading is to short-change your Forex Education AND you’re your account balance … it’s like not accepting the greatness within your at the time the market provides you with your pip rewards.

Which mental time zones do you what to be in for your trading? There are only three: past (FEAR), future (ANXIETY) and HERE. It’s been said that most traders spend only 1% of their time in the present. Could you imagine what kind of profits your mind can produce when you become fully present when trading?

Carpe Diem and Happy Trading!!

Ranging Market

For the past 2 weeks, forex has enter the ranging mode. Ive been busy with work since I have a day time job. Merdeka celebration is coming and I am going to be extra busy. Next week I am going to KL.

As for forex, this week is not so good for me. All my technical is correct just that being unlucky sometimes. My position of long GU and GJ both hit SL on the last dip. I can never imagine it can go down that much. Thanks for EG, I manage to cover my lost and made a little profit.

Back to technical analysis, GJ has made it top at 244.06 and there is a reversal sign. GU it seems has not reached it top. There is some room to go before a reversal can be considered. Look for formation of double top and watch out for its strength. Im not going to give signal since I do not have time to trade. If I do enter the market it would be touch and go or thru stop order with sl (which is very difficult to judge).

Happy trading, may profit be with you always.

We're #1

Well, as I return to my desk from a break to welcome the new addition to my family I was pleasantly surprised to received notification that Forex Journey has been ranked as the #1 Forex Blog by CurrencyTrading.Net on their “Top 25 Forex Bloggers.

Check it out ==> http://www.currencytrading.net/2007/top-25-forex-bloggers

Thanks everyone for inspiring me to follow my passion!

Happy Trading!!