Just A Reminder...
I personally urges you to scrutinize any "super "trading system by providing fast rich method or all-in-one signal to realize your dream, before paying fee to them. As we all undertand, the way to fortune is a painstaking process, much due to your hard efforts and practice, do you think people now can produce any super machine better than human brain? Please do not fall victime of "impulsive buying", cool down yourself for some days first before giving your most precious asset: "Money".
Friday, August 29, 2008
Profitable EURUSD trades after initial loss
Today I manage to profit 48 pips on the EURUSD after a very good economic numbers from the US. But initially I am taking a lossing trade on the same trading setup. And here is why I make the first loss and finally make the profitable trade.
I first identify the trade on my 30-min chart (the top chart) when the price break the blue dotted horizontal line. Once this happen I immediately go to my 5-min chart for trade entry, stop loss and exit setup.
As you can see on my 5-min chart, I draw a fibonacci line and then make my entry on the 38.2% level wtih stop loss placed immediately on the 61.8% level. Unfortunately the market accelerate on the long side rather on the short side and in just a few minutes after my entry, I am being stopped out.
Realising the market pulls back to the short side, just after my stop loss was hit, I immediately placed a sell stop order back on the original 38.2% level (1.4717). Thank Godness, the market make a strong short movement all the way to my target of 48 pips from my entry or more than twice my risk exposure.
In all, it's a profitable trading setup for this week at last. I will be looking for next trade on Tuesday and call for the week to enjoy my weekend.
Happy trading and enjoy the coming weekend ;)
Thursday, August 28, 2008
Today's Price Action Reserved for Adult only!
Looking forward for trading opportunities for Thursday and Friday. I expect next week on Monday will be quiet as the US will be on Labor Holiday.
Happy trading guys ;)
Monday, August 25, 2008
Unfortunate loss of 19 pips in EURUSD
Saturday, August 23, 2008
Poor trading week
Thursday, August 21, 2008
Ultra Choppy Market Today?
Anyway happy trading for those traders out there who made profits on the move today.
Wednesday, August 20, 2008
Wednesday mixed signal with EURUSD
Until then happy watching and trading ;)
Tuesday, August 19, 2008
Loss 32 pips on double EURUSD entry
Never give up on your trading defeat. Keep on trading and look for the right opportunity. I am now looking at it....;)
Monday, August 18, 2008
Choppy market on EURUSD, staying on the sideline
See you tomorrow. Happy trading ;)
Sunday, August 17, 2008
FXPRO named the Best Forex Broker
Expect EURUSD Downtrend Continues
I will back for more as soon as trading start Monday 18 Aug 2008. Happy trading guys ;)
Friday, August 15, 2008
Oil fresh new lows, sliding Euro further
On the 5-min chart as soon as the price retrace to my fib 38.2% level, I enter a short entry from 1.4707 and set three separate targets. There are 1.4664, 1.4633 and finally 1.4584. However, no matter what happen for today, I will close all my trades at least 30 minutes before the market closing. All entries have a tight stop loss of less than 20 pips.
I will be back to update on my trade. Happy trading guys ;)
Thursday, August 14, 2008
Final Target EURUSD Hit, total 73 pips
It's a good week so far this month. It's time to call for the day and I'm now head to bed. Happy trading for tomorrow guys ;)
Short entry EURUSD from 1.4904
I'll be back to update on my trading ;)
EURUSD choppy today
Until then happy trading guys ;)
Tuesday, August 12, 2008
Good EURUSD move yesterday
Monday, August 11, 2008
Short Opportunity EURUSD
Will be back on the result. Happy trading guys ;)
Sunday, August 10, 2008
EURUSD target hit, position close
In total for the first week of August I net 56 pips profit. I will progress with the second week trading later on Monday during or after the Asian session. Until then, happy trading guys ;)
Friday, August 8, 2008
Short on EURUSD
Happy weekend guys and happy trading ;)
Internet is Back...good to trade forex
I will update as it happen today ;)
Thursday, August 7, 2008
Internet outrage...No Trade :(
Well there will always be next available trade next week and the days ahead of us. So no worry and I don't regret. This month I am expecting to go for broadband connection, so I can go mobile to trade anywhere anytime.
Happy trading and enjoy the coming weekend
Good Opportunity with EURUSD, but trading signal void
It happens like yesterday where I totally did not monitor the market. When I open my chart before the start of today's trade, the market give a very perfect entry setup and perfect signal to give me over 50 pips.
I missed the good entry of today and yesterday. Now, I just wait for the 4-hour to give me a better trade in the coming days. I will update on my trading as it happens.
Happy trading guys ;)
Wednesday, August 6, 2008
USDJPY Break resistance, entry developed
I am now looking & analyzing the EURUSD chart for any possible trade. But I guess the best entry will be tomorrow just after ECB release its rate decision.
Until then happy trading ;)
Tuesday, August 5, 2008
Euro climbed 1.5500
Happy trading guys ;)
Waiting for FED news
Until then...happy trading ;)
Sunday, August 3, 2008
Monday trade outlook
Within this month, I am thinking of buying another laptop to cater for the increasing trading activities. Moreover, I will be studying several new currency particularly USDCAD and AUDUSD. Perhaps GBPUSD trade will also be added as an actively traded currency pair within this month or so.
I will post more of my trade next week. See ya then. Happy trading ;)
Friday, August 1, 2008
Trading Performance Status
Beginning from the month of August 2008, I will be posting my trading performance result in this blog. You can see how I performed on my trading, profitable and losing trades on the right bar of this blog, just under the tag ‘Trading System’. Trades on 1st August will not be counted, as I assumed the trade on that date to be of July.
Trading the NFP with EURUSD
The red leading EMA indicators are well below the lagging EMA, colored here in gold. The immediate support level is at 1.55631. So I am looking to the price to break the 1.55631 to look for an entry. Once the price break this level just before the US NFP released, I will go to a 5-minute chart to determine my entry and my risk.
As it happen EURUSD break the 1.55631 support earlier during yesterday’s trade, and I immediately switched to 5-minute chart. When you look at the 5-minute chart below there are some opportunities to enter the trade. But from my experience, I discount that as false entry. Why? Remember the rules, don’t trade before the big economic news or else you will be eating up alive by the market rouge waves.
I only draw fib lines just before the news and place pending order only after the market making some wild moves. You can see it moves up wildly and down out of a sudden. If I enter early I will surely hit the stop loss point. With this technique never enter early. It is far much better to wait for a confirmation. Let the market settle and find it ways.
As always I make my entry at 38.2%, place my stop at 61.8% and set my target at least 3 times my risk.
And walaa! See how much the market can give me with this technique. It’s well over 41 pips from a risk of just 14 pips.