Happy New Year 1430 Hijrah (Islamic Calendar)

New year has come and I feel fresh with this new year. It seems that I can celebrate New Year mood twice in the same month. First is the New Hijrah Year 1430 and in just a couple of days, will be celebrating the lunar new Year 2009.

With this new year I would to share with you on my re-affirm vision as a trader. My vision for this new year is "I will become the world's best trader with this ONE style of trading". I will not change the trading system or look for another new trading system or style of trading which have make good income since 2007. On top of that I will further pursue my trading education and qualification to become a certified global trader.

My trading business plan for the new year is in place and intact, and has been tested many time in all trading & market environments. My trading plan calls for no human judgement interference before, during and after entering the market. It has to be "trade on what I see, don't trade on what I think".

For those of you who haven't has any trading plan, I suggest you better make one for this new year. It has to be simple and fool proof. It has to be as clear as possible on what you will do with you trading.

The trading business plan you make should have three main components namely:

1. Tested Entry Rules: A precise set of rules that must be pass before you enter a trade. Entry rules shoud be simple, direct, and leave no room for human judgement.
2. Money Management Rules: The ability to manage risk in choppy and volatile market movements. You must be able to define you maximum loss in any single trade without blowing your account for a call margin in the long-term.
3. Tested Exit Rules: Entering FOREX without knowing your exit position is a useless entry and will call for a DISASTER. Having a set of rules that define your exit is equally important as setting you entry into the market.

So if you don't have the above in your trading business plan, you'd better set it now.

Until then...I will be back again for the 2009 trading season on the 5th January 2009.

New Year Is Coming...New Trading Vision

As the count down for 2009 is coming just around the corner in less than a week. I will be sharing with you with a trading system which I have been using all this time since 2007. The system is so advance (in terms of indicators used) but very simple to use. This is the trading system that makes money for me than any other conventional trading system & method.

All this time I only post the conventional trading method and technical analysis. The purpose is to give some understanding on how to use support & resistance, trendlines, multiple time frames, and fibonacci techniques. I also try to deliver as clear as possible the importance of money management in forex trading that can be applied to any financial instruments trading.

In 2009, I will share with you another advance system, which is a method to trade the forex and other CFDs available in the market. I found that you need to understand the importance on the use and identification of support & resistance as well as the identification of the current and long-term trend to successfully use any trading method and system.

With the advance system I will share with you in 2009 is no exception as well. For me support & resistance + market trend is the basic formula for trading success. Having this understanding is just the part of it and not a guarantee for profitable trading. You will need yet another vital ingredients for great success, i.e. to manage and control you emotion.

The new vision of 2009 I will bring with you looking into vast opportunities in currency trading. I will be trading multiple currency pairs ranging from all the major pair, commodity currency pairs and the major crosses including the highly volatile GBPJPY. Here you will see how I can trade around US$1,000 a day to the bare minimum of just US$100.00 a day. As well as how I make minimal losses in volatile choppy market movements.

So I will be back for next live trading after 2nd January 2009 in time before the Mother of All market mover, the US NFP on 9th January 2009. Until then happy holiday and wishing you a Happy New Year 2009.

Trading OFF for Holiday

I will be off from my daily trading activities as from today until the first week of January 2009. So far for the month of December I made 377 pips various currency pairs such as EURUSD, USDJPY, AUDUSD, USDCAD as well as GBPUSD.

By 2009, I will be adding EURJPY, EURGBP and EURCHF into my trading portfolio. Until then, happy holiday and an advance happy New Year 2009

Aussie & Canadian making my trade today

It wasa very good trade today for two different currency pairs, one for a short trade and the other for a long trade.

The first trade opportunities developed around 10.00am Brunei with the AUDUSD. I immediately placed a sell stop order less than 1 minute prior to 11.00am, with order placed at 0.6470 with a risk of 24 pips. I marked my target of at least 48 pips away from my entry. It hit my target over an hour later.

During this time, the USDJPY also developed similar trading pattern, but I was unable to trade the pair due to equity limitation. However, I did able to spot another trade opportunities with USDCAD just before noon Brunei time. Without much hesitation and knowing a good trade nearly accompolished with the Aussie, I placed a Buy Stop order with the Canadian at 1.2546 with a risk of only 22 pips. I placed my target for this pair of 44 pips away from my entry point. Almost similar to AUDUSD, it hit my target of 1.2590 in over an hour but less than 2 hours from my entry.

All together today, I am able to bag-in 92 pips profit. As of this writing, I saw trade opportunities again the Aussie but will not trade the pair as the market will be quite thin. Until then, happy trading guys...

GBPUSD Start The Trading of the Month

If you could recall in my previous blog, I did write sometime ago I will not be trading for them month of December. But I can't help with this good entry setup on the GBPUSD, which I had been watching closely since Wednesday of last week.

Earlier today, I placed a Sell Stop order with the pair at price level of 1.5176 and, eventually it did hit this level. As of this writing the price has hit 1.4964 or well over 212 pips. It look like another good trade for the start of the new month...

I will probably close this position today, perhaps before the end of the trading day. Until then...happy trading guys ;)