MY MARKETIVA JOURNEY: A FOREX TRADER'S BLOG

8.35%

2010-02-02T16:34:00.002+07:00

Tuesday. 8.35%. My daily target achieved. So far so good. I still feel the urge to add more. Need to cull that urge. Need to cull that urge.

A New Month, A New Hope

2010-02-01T16:55:00.000+07:00

February is known as the month of love. I started the month with 6.56% profit today. I will try to have 6% daily from now on. 6%, no more, no less

I am killed.

2010-01-29T20:06:00.002+07:00

I shall return. More powerful! Will not give up this time!

3%. Nuff Said!

2010-01-28T20:53:00.000+07:00

3% Profits gained tonight from U/J. I bailed out because it seemed unable to breach 180 EMA line. Better safe than sorry.
Also: USA has lower than expected economic indicators.....hmmm

1.8% profits

2010-01-28T16:57:00.002+07:00

Profits again, 1.8% :)
Three open positions now.....

Screwed Up

2010-01-26T19:04:00.002+07:00

What's up with US$ and its hype? It screwed me up badly!

1.8% Profits

2010-01-25T22:32:00.002+07:00

Able to sneak 1.8% profits from U/J. At least I can still have profits :)

New Signal Method?

2010-01-24T19:28:00.000+07:00

I think I have found some signal method combining MACD, RSI, and EMA 180. I hope this and some feelings I have been developing can help me further...

47.32% loss

2010-01-24T14:27:00.000+07:00

When you have greed setting in, you see loss. When you see loss, you became panic. When you became panic, you do crazy things. When you do crazy things, you incur more losses.

47.32% losses this week due to greed, panic, and not taking the cues that my technical tricks are losing their magics. With 3 negative positions still open, I can not see good fortunes for the next week, unless God smiles at me and decide to raise up G/U and E/U 300 points each. One can only hope.

Violent Reversal

2010-01-23T04:36:00.000+07:00

Saw G/U going up, only to have it sunk low violently. Now I have three US$ short positions. Stuck in a rut again. I think I need to raise new capital, keep my greed on check, and trust my feelings.

A Suprise 3.5%!

2010-01-22T03:17:00.002+07:00

Well, what do you know! My open U/J position has turned into profit! 3.5%! Now if only the other open positions turn into profits too!

Forex is....Undpredictable

2010-01-21T11:56:00.000+07:00

It's not always technical analysis, it seems. I have been in two days without profits, and it scares me. I just lost 50% this week, and my three open positions are -300 in total. Bummer.
I have seen the pattern though: I have more luck gaining profits when the overall mood is against dollar and I will lose a lot if the reverse is trending. Better be careful next time.
Guess I'll stick to daytime job longer then :|

1.8%

2010-01-20T04:17:00.000+07:00

After cut in half, regenerating slowly seems to be a tantamount challenge, but I'll never give up again, not this time. Got 1.8% profits and will get another and another and another :)

Burnt Out Again

2010-01-19T17:04:00.003+07:00

There goes my profits for a month...goes out in smoke..puff..

2.2% in the morning

2010-01-19T07:36:00.000+07:00

My morning started with black out and strong wind that made me fear that my motorcycle (parked outside, bracing the elements) would be blew away.

Those, and 2.2% profits in the morning, stealing a move with G/U. I still have three open positions from last week, that could be closed with just 150 pip moves against US$. Hopefully it will come true....

Dollar Strengthening Continues?

2010-01-18T08:09:00.000+07:00

Another week, another trading opportunities, another week where dollar seems to be poised to strike upward. This doesn't bode well with my open positions. But I see on technical analysis that USD will go down somewhat. Hopefully it will go down ~250 pips from its current position :)

I am eyeing G/U now for short-term longs.

Strange Dollar Boost

2010-01-15T09:39:00.000+07:00

I do not know. I think there is a conspiracy somewhat to strengthen dollar despite America's bad data. This is scary moves by big capitalists.

11% of profits! Weekly Trading Target Met!

2010-01-13T18:15:00.000+07:00

Praise God! Just net myself an 11% profit of G/U and E/U! Those U/C and U/J positions are poised for some profits too!

And yeah, I just totally met and passed my weekly target! Woo Hoo! Isn't forex great ;) ?

5% Profits

2010-01-12T23:45:00.000+07:00

Got 5% profits today, close to midnight. That U/J position finally find some green, and my other G/U position also close to green, and that U/C too. Close to my weekly target.

Lesson Learned: Rally Effect

2010-01-12T08:07:00.000+07:00

I have learned a lesson today: If a friday trading ends in upward rally, then down, then upward again, there's a chance that monday Japan and Europe session continues the upward rally. Especially in a day where USD related news are none.

Beware of this effect.

US$ on the fall?

2010-01-11T17:53:00.001+07:00

Got 5.5% today as US$ seems to be smacked left and right by everyone. Here's hoping for more today, and hopefully that hanging U/J position can be closed sometimes this week. Tired of having that.

64.4% in Three Weeks

2010-01-09T05:29:00.003+07:00

I was able to rake up 64.4% profits in three weeks of trading. Well, not bad eh? one and half more week of trading to see if I can double my capital in 31 days ;)

But those two open positions bother me....

4.2%

2010-01-08T23:29:00.002+07:00

Got 4.2% for yesterday that's gone for half an hour now but with two positions still open. I am not that stuck in a rut, after all :)

Stuck in A Rut?

2010-01-08T04:36:00.001+07:00

Feels like it. I made wrong calls and now stuck in a rut. Oh well, USA unemployment number will be either two for me: my savior or my executioner....

2.7%

2010-01-07T10:36:00.000+07:00

Meager profit today. 2.7% only. What, it's still better than your mutual fund annual gain? Oh, that's good then :)

Another 3%

2010-01-05T14:24:00.001+07:00

I came, I saw, I seize profits! 3% from shorting U/C! I am on a roll! Come on U/J, goes down some more, will ya!

7.7% Profit!

2010-01-05T12:32:00.002+07:00

Ignore my last post. Just got a chance to close a green position and netted a 7.7% profit! I like it, don't you?

No Trades due to Bad Internet

2010-01-05T09:52:00.002+07:00

Bad, bad Internet connections from both my mobile modem and my home connections. Able to see the charts, but not able to do anything afterward. See my E/U position in green, but unable to close it. Hopefully can do it later today. Hate to see profits accumulated erased by this nuissance

5% Profit in the morning

2009-12-31T04:30:00.002+07:00

With surprise surge in Cable (Praise Allah), I can close that position and collect 5% profits right after wake up.

1% profit and the forming of a nightmare

2009-12-30T18:39:00.001+07:00

Got only 1 % profit today, and I see that technicals are being steamrolled again. Sigh. This is usually not a good sign....

Six? Did you say six? I say SEVEN!

2009-12-29T15:34:00.000+07:00

That's right, my friends of the forex world, I have 7% profits today. Whew! Lucky seven!

Another 4% ! My oh my!

2009-12-28T19:06:00.002+07:00

Has 4% profits today from EUR/USD and USD/CHF. Should be able to get more, but last week of a year's movements could be so violent it is advisable to be on the safe side :)

Christmas Profit: 4% !

2009-12-25T18:27:00.000+07:00

No one trades on Christmas ? Bah, humbug! 4% profit, baby!

6% Profits

2009-12-24T14:29:00.001+07:00

Another profitable day. 6% today. I see dollar is weakening. Hopefully for real this time. December can be a nightmare for long-term, technical trader with false signals and that.

Profit at last

2009-12-23T08:38:00.000+07:00

After being burnt out to 95% of capital, finally got 4% profit. It feels good, doesn't it? Let's hope it will come daily. 4% daily. How much would that be in a 250 days trading? Lots. Count it yourself ;)

I Hate December

2009-12-17T17:27:00.000+07:00

This brings memory of two years ago, when I was devastated also. But I will be back!

Greed is a Bad Thing

2009-12-05T02:56:00.002+07:00

Again, I burnt 73% of my capital due to greed. God saw me as a greedy man and he slapped me because of it. I will strictly trade technically and instinctively as of today.

Started with US$ 1006, ended with US$ 237. Stupid.

I shall return!

I hate USD/JPY

2009-12-04T04:44:00.002+07:00

Made a wrong decision on USD/JPY, and lost 1/3 of my profit last time and is on -160-ish pip with it. Here's hoping it lost its momentum and went down at least 200 pip so I can make some profit. But technically, I see no such luck :(

And I am seeing opening developing on my favorite of them all: GBP/USD!

16.2% Profit

2009-12-01T18:50:00.002+07:00

Got 16.2% profit today trading Cable and Swissy. Well, long term technically Cable can go up some more, but I prefer to sleep nicely tonight without thinking about it. There will be, technically, an open chance to go long again on Cable and short on Swissy, being USA PMI is going to be higher.

Oh, have I told you that I am an anti-dollar forex trader? Probably the only one in the world. Why, you asked? Religious reason, that's why.

Happy trading for all!

New Life!

2009-11-30T19:02:00.001+07:00

After long time on hiatus, it is time for me to reactive this blog. Why? Because I am restarting my forex trading, this time, hopefully, with good techniques and more patients.

I am starting with US$ 1006.23 and my target is 46% profit per week.

Good luck to all marketiva and forex traders out there!

Join The Revolution

2006-12-01T08:21:00.000+07:00

Join The Revolution, Own The Internet, Get Rich !!

GET AGLOCO !!

Trading of Week of June 5th, 2006

2006-06-10T13:17:00.000+07:00

Secured a profit of US$ 27.1801, or 20.44% of capitals, and no positions are left open.
Not bad, eh? Great even, if you consider I was about to go broke by letting 2 losing positions alive.

So here's for a more profitable tradings next week, CHEERS !!

tags: Journal Forex Trading

It's been a while..

2006-06-03T11:02:00.000+07:00

...But my last two trading days, after two months or so of non-trading, has been profitable. Guess my trading instinct is still there...
These are my latest tradings:

Hopefully it will be like this in the future:profitable in every tradings

tags: Journal Forex Trading

Struggling

2006-04-25T18:55:00.000+07:00

I am currently struggling with all the money I got left. Not bad, able to profit gain an accumulative 75% of profits for the last week.
And affiliates are trading too, from which commissions I can add some capital soon.
I hope this will be a start of something good soon

Return

2006-04-18T20:08:00.000+07:00

Returned to Forex Trading today, hoping for better trading live !!

Journey Ends?

2006-04-17T07:08:00.000+07:00

Returned to land of interconnected webs, and found my marketiva account ruined to almost nothing.
Shall I fight on?
Shall I stop here?
More in the future.

Out of Town

2006-03-09T03:49:00.000+07:00

I'll be out of town till March 20, 2006 for some field duties.
I'll continue trading afterward.

Back With Plus PIPS

2006-03-08T15:50:00.000+07:00

Well, I am accumulating PIPS again after last 2 weeks fiasco of keep on losing due to internet blackout and mental and body fatigued.

Another black out

2006-02-23T21:01:00.000+07:00

Got another Internet black out, unable to close losing positions.
Damn!!

Loses Continued

2006-02-21T04:46:00.000+07:00

Man, this is why forex is called the thing for the tought hearted....I kept on losing !!
Quite a different from last week glorious tradings, right?
It takes a simple internet disconnection to ruin a forex trader's week...
So, til internet connection returns to normal, and til I returned on profits, I will stop posting screenshots of my positions and concentrate of revenging my losses.
I know, I have been trading on high risk behaviour, and been suffering from the negative effects of those behaviour, but I was also in profits.
Learning both ways, I think I know more about performing high risk, high profits maneuvers.

Stay tuned.

tags: Journal Forex Trading

Another huge loss

2006-02-20T08:06:00.001+07:00

Forex trading is about gaining a lot and losing a lot more.
This is morning, and already I lost half of my capital.
Bummer.
And I thought I am talented for forex trading....

Another huge loss

2006-02-20T08:06:00.000+07:00

Forex trading is about gaining a lot and losing a lot more.
This is morning, and already I lost half of my capital.
Bummer.
And I thought I am talented for forex trading....

Trading of February 16th, 2006

2006-02-17T03:24:00.000+07:00

HUGE LOSS

Trading of February 15th, 2006

2006-02-16T04:44:00.000+07:00

I had a flu yesterday, and my internet connection was troublesome, so my trading has been tormenting. A quick decision to trust my instinct had saved my and yield me profits. I booked a total profits of US$ 15.97, or 9.29% of initial capital, 232.28% of daily target.

I think what will come next is interesting: the general consensus of indicator show a rather threatening consensus, but 1H, 4H, and 1D MACD show signs of CABLE rising up. Furthermore, Sterling has been able to resist a drop from 1.7490 in 1.7380.

My guess is, Sterling will be weakened slightly in european opening session, but will rise again in USA session.

Let us see then, shall we?

tags: Journal Forex Trading

Trading of February 14th, 2006

2006-02-15T02:45:00.000+07:00

After bleeding heavily in the early hours, I finally managed to exact my revenge and posted a significant profit of US$ 24.14, or 16.3% of capital, 408.61% of target.

And finally CABLE is showing some technical retrace, able to bounce more than 70 pips from 1.7286. Will Bernancke speech later today put CABLE on another stress or will it go stronger?

Hourly MACD shows signicant support for rising up more today, while Fundamental economic outlook shows a rather supportive consensus for CABLE.

We'll see more today.

Happy Trading !!

tags: Journal Forex Trading

Trading of January 13th, 2006

2006-02-14T04:26:00.000+07:00

I somehow knew that that one long position up there was going to put me into much trouble.
It did.
I have to put more funds into my live trading account so that the long position can be maintained and lost resulting from it reduced. So far there are still 2 longs and 1 short opened.

Managed to gain US$ 8.19 profit, or 8.11% of initial capital, 202.8% of daily target.

I think huge cut-losses are coming next. Man, this week is going to be a scary one.

Now, can someone please tell me, where will CABLE be moving next? My hunch is down, because of the negative CPI that will come out on 9.30 a.m GMT later today.

tags: Journal Forex Trading

Trading of February 10th, 2006

2006-02-11T04:39:00.000+07:00

The enemy moved with uncanny stances. Its speed suddenly arose, and his movements somehow stubbron. I had to chop left and right and used every skills and instincts that I have to emerge victorious. I decided to force myself to watch the movements of the enemy, and used it for my advantages. Every cells in me sung the same tune last night: You are The Survivor!!

And yes, I finally proved that I am The Survivor. Scored a total profit of US$ 6.18, or 12% of initial capital and 300.10% of daily target, with one open position which stayed there and taunting me to fight him. I must, and I will !!

So, for this week, I have booked a profit of US$ 38.49, or 74.71% of initial capital and 344.84% of target.
Next week will be very challenging, I can sure you. I have still have to prove my endurance and strength next week.

Happy trading, and wish me luck!!

tags: Journal Forex Trading

Trading of February 9th, 2006

2006-02-10T03:49:00.000+07:00

Booked a total profits of Us$ 10.39, 20.17% of initial capital or 504.16% of daily target.

Phew. Another nice day. I thought I'd lost a SHORT position when CABLE rose up yesterday, but UK trade defisit saved that position smile .
But my greed made me put another LONG position, which is still open by the time I wrote this sad .

As for predictions, both my own custom 1H MACD and the standard 1H MACD shows that CABLE should rose up again. The forecast for US trade deficit has potency to surge CABLE upward with strong accelaration, but I think CABLE will go down first, because Germany Consumer Price Index forecast is somewhat bleak, and anything related to EUR can affect CABLE too.

Let's just hope everyhing runs well today

tags: Journal Forex Tradings

Trading of February 8th, 2006

2006-02-09T04:02:00.000+07:00

Booked a profit of US$ 9.42, 9.42% of initial capital, or 456,96% of daily target

Total profit so far is 43.54% of initial capital.

Hoping for more profits now smile

tags: Journal Forex Tradings

Trading of February 2nd, 2006

2006-02-07T19:31:00.000+07:00

Booked a total profit US$ 7.2401, 14.05% of initial capital, or 351.37% of daily target.

Looking good so far.

tags: Journal Forex Tradings

Trading of February 6th, 2006

2006-02-06T18:35:00.000+07:00

Beginning of my serious trading trial.
Scored a 10,20% profits, 255,17% of my daily target of 4% profits.
Profit will be compounded.

tags: Journal Forex Tradings

4%

2006-02-03T21:44:00.000+07:00

MY NEW GOAL IS 4% DAILY !!

tags: Journal Forex Trading

Burnt

2006-02-01T04:57:00.000+07:00

Have been burnt twice trying to proof my theory (which is proven by being burnt out, by the way).
And finally found a foolproof trading technique. Not much profits, but steady and compoundable.
Stay tune for more.

Perhaps I will invite some of you to invest through me after a this technique (and 2 more riskier techniques) can be proven steady and profitable.

Stay tune

tags: Journal Forex Trading

Tradng of January 20th, 2006

2006-01-21T06:44:00.000+07:00

My internet connection was forcing me to score only a profit of US$ 132 (13.2 % of initial capital) with one position open.

So far, for this week, I score US$ 430.2 profits, that's 43.2 % of initial capital, or roughly 8.64 % per trading day. Better than my planning of 2% of initial capital daily average.

Hope next week will be better.

tags: Journal Forex Trading

Trading of January 19th, 2006

2006-01-20T04:12:00.000+07:00

Bad trading day triggered by my inability to log in into marketiva streamster due to a crappy internet day. But I manage to secure US$ 25.2 profits with one position open. Hope I can attone it today.

tags: Journal Forex Trading

Trading of January 18th, 2006

2006-01-19T03:57:00.000+07:00

Made a profit of US$ 90, worse than yesterday in term of profits, but better in term of no open position left when I decided to stop for the day. I had to go to sleep earlier, that's why I cut loss that -80 pip SHORT position.

Planning to make 1 lot of my trading a little bit higher.

tags: Journal Forex Trading

Trading of January 17th, 2006

2006-01-18T04:25:00.000+07:00

Made a profit of US$ 111, or 11,1% of initial Capital. Better then previous day. Hope for better performance today, hope for no open position at end of a day's trading session.

tags: Journal Forex Trading

Trading of January 16th, 2005

2006-01-17T05:09:00.000+07:00

Able to book a profit of US$ 65, which means 6,5% of capital, but still have one position open. Looking for better performance today.

Trader's Style Focus

2006-01-14T18:34:00.000+07:00

I think I have found my trading style: mix of MACD trading and trend wave surfing.

Today's Signal

2005-12-21T08:38:00.000+07:00

December 21st, 2005 1:38 GMT

EURUSD

Buy : 1. 1870/75
Take Profit : 1. 1890, 1920
Cut Loss : 1. 1830

GBPUSD

Buy : 1. 7565/70
Take Profit : 1. 7580, 7600
Cut Loss : 1. 7500

Courtesy of ProFXSignal.com

Today's Signal

2005-12-20T11:38:00.000+07:00

EURUSD

Buy : 1.2000 / 10
Take Profit : 1.2020, 1.2030
Cut Loss : 1. 1980

GBPUSD

Buy : 1. 7600 / 10
Take Profit : 1. 7620, 1.7640
Cut Loss : 1. 7550

courtesy of ProFXSignal

tags: Forex Trading

On Virtual

2005-12-18T13:57:00.000+07:00

So, if any of you avid readers have been wondering where the hell is my trading reports, I just wanna tell you that I am now going virtual. My funds were all withdrawn so that I can deposit them into another form of online investments.

As for my virtual trading, it's been going well, better than my real trading has been.

I am looking forward for the day I can dare myself to enter the live trading session again.

tags: tags: Forex Trading

Forex Trading Tips Important for Beginner

2005-12-17T03:21:00.000+07:00

TIP 1 Read both the books by Mark Douglas which cover trading
psychology BEFORE you read or do anything else. If you don't, I'll
say I told you so when you hit a failure barrier and don't know why.

TIP 2 Stop loss policy - you MUST have one and practice, more
practice and even more practice at sticking to it. It will not be
easy but it is an essential discipline to profitable trading.

TIP 3 Trading plan / system. Again, you MUST have one! Then you must
practice sticking to it. Do not try and second guess or trade
against your indicators - wait until they give you a concise signal
before acting on it.

TIP 4 TRADE WITH THE TREND. DO NOT trade against the hourly trend of
the market unless you are VERY certain the market has turned. Check
this by watching a long term moving average (say 80 SMA on 15 minute
chart)

TIP 5 Learn to sit on your hands and not trade! It's better to wait
for good quality trades than take a mediocre one and loose money. A
day of no trades is better than a day with one loosing one. If you
don't like the market, just walk away. It will always be there later.

TIP 6 Don't set yourself false targets and expectations. Trading is
not an EXACT science and if you do you will only become frustrated
by your failure to meet them. Take what the market gives and be
satisfied. Greed will kill you as a trader, both mentally and
monetarily. .

TIP 7 The market is rarely your friend in a trade that goes against
you. Cut your losses quickly and accept them as an inherent part of
trading. You will not be able to trade without some loosing
positions. Manage them well!

TIP 8 Try hard not to get out of profitable trades too early. Try
operating a trailing stoploss of say 15 to 20 pips behind the trade
(on 5 minute timeframe) and maximise your good trades by letting
them run. Be patient!

TIP 9 Ensure you fully understand how to generate and use pivot
points and camarilla points on your trading platform. These are
crucial decision points for daily trading and you will struggle
without them.

TIP 10 DO NOT overtrade your account. Read up on money management in
trading to make sure you fully understand why this is important and
develop a strategy which fits with your personal trading capital.
NEVER risk wiping out your account because believe me, it can
happen. I've done it twice myself!

TIP 11 Learn about FIBONACCI levels and how to apply them to your
charts.

TIP 12 Keep your trading system simple. Do not have too much
information on your trading screen. It is unnecessary and will only
cause you to be confused and delay you making your trading
decisions.

TIP 13 Always think in terms of probabilities. Trading is all about
thinking in probabilities NOT certainties. You can make all
the "right" decisions and the trade still goes against you. This
does not make it a "wrong" trade, just one of the many trades you
will take which, through probability, are on the "loosing" side of
your trading plan. Don't expect not to have negative trades - they
are a necessary part of the plan and cannot be avoided.

TIP 14 Ensure that the candle is fully formed on the timeframe you
are trading BEFORE you enter your trade. Trade what you see, not
what you would like to see.

Today's Signal

2005-12-16T09:44:00.000+07:00

Desember 16, 2005 GMT 1.30 AM

EURUSD

Buy : 1.1935 / 45
Take Profit : 1.1955, 1.1970
Cut Loss : 1. 1870

GBPUSD

Buy : 1. 7620/30
Take Profit : 1. 7650, 1.7670
Cut Loss : 1. 7810

courtesy of ProFXSignal

Review: Philips 42PF9830A LCD

2005-12-16T08:23:00.000+07:00

The Philips 42PF9830A is one of the best-performing LCDs CNET have reviewed, although it still doesn't rival the better plasmas at this size.

Read more here

tags: tags: LCD review

Common Trading Mistakes

2005-12-16T07:25:00.000+07:00

Trade 1.
Bought EURUSD at 1.2844
Sold at 1.2550 for a 294 pip loss

This is the first trade in a series for the day, where we will deconstruct unsuccessful trades and try to analyze what went wrong. We will identify some common mistakes and show how to avoid them. In a few days, we will cover some examples of solid entry and exit points on trades. Most of these trades are good in several aspects, but they make one key error in either entry, exit or money management.

The daily chart shows that there is a strong uptrend, supported by the 20 day and 50 day SMA’s. There are also two trend lines supporting the move higher, connecting the low points on the chart. This gives us a general idea of the trend, as well as a possible point where there would be a reversal. If we are waiting to sell, we would likely wait until the price moves below the trend lines. The trend is to the upside, but the price is well above support levels, so it does not appear to be an ideal place to buy either. Let’s switch to the hourly chart in order to find an entry point.

The hourly chart shows that there is not a reason to enter the trade at 1.2844 either. This confirms the daily chart, where there is little reason to get involved in the trade. After the price bounces off support several times around 1.2720, it would be a possible entry point to buy while placing a stop just below the blue line. The other option would be to wait for the price to fall below the support line here and then sell. Once the price falls below support, that blue line becomes resistance, so you could place a stop above the line to cover your short position.

There appear to be two mistakes here. The first is that there appears to be little reason for entering the trade, as we have shown on both the hourly and daily charts. The price is well above support on the daily chart, and there does not appear to be support on the hourly chart, so there is little reason to get involved in the position.

The second mistake is in the exit point. Once you are in a position, you should always identify a point at which you would be willing to exit for a loss. In this case, I would suggest placing a stop below the support level on either the hourly or the daily chart, especially as the strong support forms on the hourly chart and is then broken, as shown above.

In this case, you could even consider a short position. When the two charts are combined, it becomes apparent that support is broken on both the daily and hourly candles, which would give you an entry point to sell EURUSD around 1.2700.

Trade 2

NZDUSD
Bought .6823, 1/09/04
Sold .6588, 1/18/04

The daily chart at the entry point shows a strong up trend, but one that is much steeper in the short term than the long term sustained trend has been. This steep trend line should be considered moderate support, while the red trend line is much stronger. The 10 day SMA also shows that the price is moving higher in the short term. The entry point is not ideal, though, because it comes at a point that is well above the short term support. The entry point also comes at a candlestick that is very close to being a doji, a clear reversal signal. In this case, it may be too soon to sell the pair, but it appears to be overall a bad place to buy.

But the real mistake is not in the entry point. It is bad luck that the long position was taken at the peak of the trend, however the exit can be corrected easily. A stop should have been placed just below the steep trend line or the 10 day SMA. Once the price fell through these two lines, the fall was clearly signaled. The mistake here was in holding a loss too long.

As you can see, the stronger of the two trend lines eventually held though. In an uptrend as strong as this one, it is tempting to just buy at any level and hold on. But patience is key. Buying above support or even selling when the price breaks below support in order to take advantage of a short term retracement is really the best way to go.

Trade 3

GBPUSD
Bought 1.8460
Sold 1.8310

The daily chart appears very similar to the last two trades. The currency being purchased against the dollar is showing a lot of strength on the trend, with several strong support lines connecting low points on the chart and the price above the10 day SMA. The only problem here is that there is little reason to enter the trade at the current price on the daily chart.

I apologize that the data for the hourly chart is no longer available, because I wanted to point out that this was a good trade from an exit standpoint. The loss of 150 pips is certainly not fun to experience as a trader, but it certainly could have been worse. The Parabolic SAR lines were broken, and then the 10 day SMA shortly after. This trader could have waited for the trend line to hold (which it did not ) and lost several hundred pips on the trade before closing the lot. In the end, the entry point simply shows the same mistake as trade #2.

Trade 4

GBPUSD
Sold Short 1.7825
Bought 1.7944

The above chart is the same as trade #3, including the same trend lines and the 10 day SMA. The daily chart shows little reason for selling at this point, so lets switch to the hourly chart.

This was not a bad entry point at all—just the opposite of the previous trades. The downward trend line on the hourly chart establishes that resistance is just above where the lot of GBPUSD was sold. It is reasonable in the short term to expect this line to hold and the pair to bounce off resistance on this trend and move lower. The problem is that once the Parabolic SAR and the hourly trend line are broken, the trade is kept open. It certainly isn’t the worst trade in the world, and if you look at the daily chart, the stop appears to be at the point where the candlestick pattern has created a reversal and the price moved above the high of the previous candle. It just seems that if the reason for entering the trade is based on resistance for the short term chart, then once this resistance is broken, the exit point should be based on the same chart. Once your reason for being in a position disappears, exit the position.

I realize that Parabolic SAR had not been covered at the time this trade was placed, so we’re analyzing the trade itself with more knowledge now than we had when it was placed.

Trade 5

USDJPY
Bought 106.88
Sold 105.99

As discussed in several articles, USDJPY is a difficult pair to trade because of the uncertainty of BoJ intervention. However, we can determine from the chart that 106 is a level where BoJ has intervened several times because it has created several sharp spikes. The only problem with this trade is that the buy order was placed too far above the BoJ intervention level of 106, and that the position was closed just below that level. In the case of USDJPY it is almost pointless to place other indicators on the chart, since BoJ controls the price action in the short term.

Consider selling USDJPY at your own risk, as the BoJ intervenes unannounced and sometimes at unexpected levels. But if you are buying USDJPY, try to think like the BoJ thinks. They are reading the same charts as the rest of us, and they have established certain support levels that they try to defend. 106 has been established as one of these levels by the time this trade was placed, so buy as close to 106 as possible. When selling, you may want to watch the past data to see how high many of the spikes go during intervention. Place your limit to sell just below the height of these spikes.

CHF Overview

The Swiss Franc (CHF)
Switzerland is the 19th largest economy in the world, with GDP valued at over US$240 Billion in 2001. The economy is relatively small, but it is one of the wealthiest in the world on a GDP per capita basis. The confidentiality offered by the Swiss banking system, coupled with the country's lengthy history of political neutrality has created a "safe haven" reputation for the country and its currency. As a result, Switzerland is one of the world's largest destinations for offshore capital. The country holds over US$2Trl in offshore assets and is estimated to attract over 35% of the world's private wealth management business. This has created a large and highly advanced banking and insurance industry that employs over 50% of the population and comprises over 70% of total GDP. Since Switzerland's financial industry thrives on its safe haven status and renowned confidentiality, capital flows tend to drive the economy during times of global risk aversion, while trade flows drive the economy during a risk-seeking environment. Therefore trade flows are important, with nearly two thirds of all trade conducted with Europe.

Indicators for CHF

Gold Prices
The Swiss Franc has an extremely high correlation with gold, as the Swiss government is the fifth largest holder of gold reserves in the world, and the Franc is partially backed by these holdings. The USDCHF chart is nearly the inverse of the chart for gold as a traded commodity. Both the Franc and gold are regarded as safe-haven investments, and both trade nearly inversely to the US dollar, which does well when equities are dominating.

Balance of Payments
Balance of payments is the collective measure of Swiss Trade with the rest of the world, and as such it is an excellent indicator of money flowing into the Franc. When the world economy is thriving, CHF tends to weaken as money flows out of this safe-haven currency into higher yielding investments. At these times, Swiss exports are generally very strong, making up for the weakness in capital flows.

Interest Rates
Like any other currency, CHF depends on its interest rates to affect the exchange rates in the currency. In the past several years, Switzerland has faced the possibility of deflation and a reduction in exports, and to combat both problems, it has aggressively lowered interest rates to a level between that of the USD. This policy has effectively devalued the Franc so that Swiss exports are more attractive to foreign consumers, while inflation has been kept completely in check.

Trading CHF

EURCHF
Most of Switzerland’s trade and capital flows occur with the countries that now make up the Eurozone, and once this single currency bloc was created, EUR immediately surpassed the US dollar in the volume of exchanges with the Swiss Franc. EURCHF surpasses USDCHF as an indicator of CHF strength as well, and spreads on the interbank market are usually narrower. Swiss data releases are most likely to affect the movement of EURCHF, and technical analysis of EURCHF is much more valid because the volume is higher.

USDCHF
Before the existence of the Euro, USDCHF was the major indicator of Swiss Franc strength. Exchanges with the US dollar occurred in a higher volume than with all the disparate currencies of Europe. Because of the secrecy available through Swiss bank accounts, many US citizens deposited capital in Switzerland, and capital flows between the two currencies were very important as well. These offshore account outlets were largely closed in the late 1980’s, and trading volume in USDCHF went into decline even before the emergence of the Euro.

Trading volume in this pair is now relatively light, and USDCHF is no longer considered one of the main currency pairs. At many times during the day, USDCHF spreads are merely a composite of EURUSD and EURCHF spreads, which means that USDCHF prices can fluctuate around the center of this wider spread even when there is little market activity. USDCHF is not an easy pair to trade on its own for this reason, but it often acts in tandem with EURUSD. In fact, the USDCHF chart is often almost identically the inverse of the EURUSD chart. A breakout higher in EURUSD would be a signal that USDCHF will move lower quickly.

Today's Signal

2005-12-15T08:44:00.000+07:00

1.45 GMT

EURUSD Buy 1975/85 TP : 1995, 2020 CL : 1920

GBPUSD Buy 7720/30 TP : 7740, 7760 CL : 7640

Courtesy of ProFXSignal

SCORE !!

2005-12-12T20:19:00.000+07:00

SCORED about 50 pips today (120-130 pips marred by a -80s pips).

Wished it's a live trading pips...

Link

2005-12-08T15:46:00.000+07:00

For a quite comprehensive collection of Links, please go here, it has tons of link to technical indicators.

Today's Signal

2005-12-08T10:31:00.000+07:00

GBP/USD Sell 1. 7355/65 tp 1.7340/20, 7280 cl 1.7410
EURO/USD Sell 1.1705/15 tp 1.1690, 1870 cl 1. 1730

Courtesy of ProFXSignal

Choppy Market

2005-12-07T22:30:00.000+07:00

The market is quite choppy lately, make me unable to make certain decisions on where should I take directions.
But I have scored on average 10-15 pips daily nonetheless, but still waiting for those lingering SHORTS to be closed in profits
Well, while here, why don't you guys checked on ProFXSignal. They are new, cheaps, but also provide a rather comprehensive forex services. Now, if only they provide pooled account..

Refunded...and trapped

2005-12-02T09:09:00.000+07:00

Well..you know, if you read rightside of this blog..you'll know that I got profits from 12DailyPro and that profits have gone to my Marketiva account.

And that profits turned into open positions at once...only to be trapped in a tighly margined open positions. Damn.

Anyway, I am now studying how to make my metatrader 1 minute charts a guidance for my Marketiva trading. It's tricky, but the potencies are there.

It helps in nowadays volatile forex market.

Today's Signal

2005-11-29T10:48:00.000+07:00

GBPUSD BUY 1.7230/40 target 1.7260, 1.7310 CL 1.7150
EURUSD Buy 1.1820/25 target 1.1835, 1.1850 CL 1.1760

Today's Signal

2005-11-28T10:34:00.000+07:00

GMT 1:08 AM

GBPUSD buy 7095/7105 target 7120, 7140 CL 7040
EURUSD buy 1695/1705 target 1720, 1740 CL 1640

Today's Signal

2005-11-23T08:25:00.000+07:00

2 a.m GMT

GBP/USD buy at 1.7170/1.7180 target at 1.7200 cut loss 1.7120
EUR/USD buy at 1.1780/85 to 1.1800/1810 cut loss 1.1750

Sterling has a resistance at 1.7220/30 and it's support is at 1.7180 and 7150. To be safe, wait for its high at around 7 to 8 a.m GMT. If it reaches 1.7230/40 short position can be readied.

euro has a resistance at 1.1820/30. If at 8 to 9 a.m GMT it doesn't break, a short position for 50-100 pips target can be opened

Go Technical or Be Based of Fundamentals ?

2005-11-18T07:01:00.000+07:00

Forex Technical Analysis Reports

Technical analysis is a method of forecasting price movements by looking at purely market-generated data. Price data from a particular market is most commonly the type of information analyzed by a technician. The bottom line when utilizing any type of analytical method, technical or otherwise, is to stick to the basics, which are methodologies with a proven track record over a long period. After finding a trading system that works for you, the more esoteric fields of study can then be incorporated into your trading toolbox.

Almost every trader uses some form of technical analysis. Even the most reverent follower of market fundamentals is likely to glance at price charts before executing a trade. At their most basic level, these charts help traders determine ideal entry and exit points for a trade. They provide a visual representation of the historical price action of whatever is being studied. As such, traders can look at a chart and know if they are buying at a fair price (based on the price history of a particular market), selling at a cyclical top or perhaps throwing their capital into a choppy, sideways market. These are just a few market conditions that charts identify for a trader. Depending on their level of sophistication, charts can also help much more advanced studies of the markets.

The building blocks of any technical analysis system include support/resistance, price charts, volume charts, and technical indicators that include trend indicators, momentum indicators, volatility, cycle, etc.

Forex Fundamental Analysis Reports

Fundamental analysis refers to the study of the core underlying elements that influence the economy of a particular entity. Fundamental analysis, including forex fundamental analysis, is a method of study that attempts to predict price action and market trends by analyzing economic indicators, government policy and societal factors (to name just a few elements) within a business cycle framework.

Forex fundamental analysis can be used to forecast economic conditions very effectively. But forex fundamental analysis may not necessarily forecast exact market prices. Forecasting models in forex fundamental analysis are as numerous and varied as the traders and market buffs that create them. Two people can look at the exact same data and come up with two completely different conclusions about how the market will be influenced by it. Therefore is it important that before casting yourself into a particular mold regarding any aspect of market analysis, you study the fundamentals and see how they best fit your trading style and expectations.

For forex traders, the fundamentals are everything that makes a country tick. From interest rates and central bank policy to natural disasters, the fundamentals are a dynamic mix of distinct plans, erratic behaviors and unforeseen events. Therefore, it is best to get a handle on the most influential contributors to this diverse mix than it is to formulate a comprehensive list of all "The Forex Fundamentals."

Future Trend Trader (?)

2005-11-16T19:17:00.000+07:00

Nothing gives me satisfaction more than able to predict the movement of the market. I have been having this feeling that I'm actually a budding trend trader..one last thing that I need is confidence, and less greed.

Or perhaps I will stop trading and become a trading guide? Who knows?

MACD PROVES SUPREME !!

2005-11-15T20:05:00.000+07:00

Forget Stochastics, Forget Aroon, Forget William's %R: MOVING AVERAGES CONVERGENCE DIVERGENCE REIGNS SUPREME !!

Back to Profits

2005-11-14T18:26:00.000+07:00

I'm back to trading, back to profits, and back refreshed !!

The signal guy has been performing wonderfully today, too wonderful perhaps, cause his signal went proven too soon, I put a limit order that has never been opened..bummer..

Lost in The Jungle of E-Gold

2005-11-12T18:10:00.000+07:00

As I venture deeper into the jungle of internet e-gold investments, I have the feelings that I'm getting lost. First, there is e-gold, and then there is autosurf, and next HYIPs...all are confusing, all are 90% scams, and all are attacking each others.

That's why I am glad that the cyberculture has invented something called Web Forums, where people can venture on their own to see people's opinions on things and therefore able to judge what will be safe for them and their e-golds.

Me, I have chosen several highly praised autosurfs to invest to for several reasons: you invest, you surf a few times, you get rewarded. Or you can surf more, automatically and absolutely no mouse-clicks needed, to pile up credits so your site can be given some more exposures.

With more exposures, and more traffics coming to your site, the next step will be to go to a CPM advertising site and get their advertisments to be displayed on your site !!

Of course, I am still going to trade in Marketiva.

Forex trading, having cut my capital into half, is the most potential tool to reach financial freedoms.

The lost I got? That's a learning expense.

Moving

2005-11-11T08:37:00.000+07:00

I am thinking about withdrawing some of my money from Marketiva and start investing on something else, perhaps HYIPS or others...I'm just losing some trading mood lately, due to missed signals and careless tradings..

Bleh..

Burning Season

2005-11-09T12:30:00.000+07:00

As the European Burning continues, it burns a hole in my forex capital...I LOST MANY !! I WANT REVENGE !!

But first I need to whip my ass harder first !!

USD goes Elliot

2005-11-09T09:06:00.000+07:00

EUR/USD and GBP/USD seems to have been taking swinging routes after last night's hikes. It seems Bears and Bulls are playing thug-o-war.

Time to take swing profits.

Paris Burning

2005-11-08T19:20:00.000+07:00

As the Paris Burning Continues, my wallets have been burnt, and the entire family is about to throw themselves into the mess.

Boy, what a week !!

Chart prep work

2005-11-07T10:38:00.000+07:00

Someone sent me this:

Chart prep work:
1. One the 1 hour chart use a 20 SMA.
2. On the 15 Minute and the 5 minute charts use a 20 and a 200 SMA.

Rules:
When price is above the 20 SMA on the 1 hour chart, The prefered
trade is long. Go to the 5 minute or the 15 minute chart and set
your mind in "LONG" gear and ONLY look for long trades.
The opposite applies for going short.

You can use RSI(14) over/under 50 on the 1 hour and also the 5
minute or 15 minute to confirm you trade decision.

Well, try it if you wish...

Proven SIGNALS !! EUR/USD MADE PROFITS !!

2005-11-06T23:59:00.000+07:00

These are the charts for day to day performance of EUR/USD from October 24th, 2005 to October 28th, 2005.

October 24th, 2005

EURUSD BUY 1.1930/40 target 1.1950, 1.1970/80

October 25th, 2005

EURUSD BUY 1.1940/50 target 1.1960/70

October 26th, 2005

EURUSD SELL 1.2090/00, TARGET 1.2060, 1.2020

October 27th, 2005

EURUSD buy 1.2060/70 target 1.2090, 1.2140

October 28th, 2005

EURUSD Sell 1.2155/50 target 1.2130, 1.2080

starting next week, the signals will not be here again. If you wish to obtain them, please contact beritaforex@yahoo.com (bahasa indonesia, yahoo messenger) or strivearth@gmail.com (english, googletalk). We have standard signals package like this, or realtime guidance package on when to enter and when to quit a position.

All packages are cheap, even a steal, if you consider the profits you'll reap by following the signals.

And from now on, you can follow my journey, daily, complete with the profits and losses I make each day, below this post.

Soon

2005-11-06T18:13:00.000+07:00

Soon..the market will open for a new week..

Soon..some of my plans will be commenced..

Soon..I'll see where will I be if I put all of guts on the table..

Soon..I hope I'll be richer by the thousands !!

Oh Please Help Me God !!

Trading of November 4, 2005

2005-11-05T03:08:00.000+07:00

I know, i know, I should have made more than just US$ 43.52462 due to euro being dragged to bottomless pit last night...but I had a cold and needed to sleep earlier (becoming a forex trader in Indonesia means you have to sleel late), so just to ensure, I secured my profits on +20 pips each (except that +3 pips..I was on margin).

Hopefully signals from beritaforex@yahoo.com, starting monday, will give me +50 profits, each for EUR/USD and GBP/USD.

Contact beritaforex@yahoo.com for profittable signals for just US$ 50 per month !!

The Big Euro Dips - Trading Results of November 03, 2005

2005-11-04T03:47:00.000+07:00

I managed to secure US$ 30,6 yesterday, helped by a good instinct and a good luck.

One of the closed positions was SHORT EUR/USD position I opened days ago. I guess my hunch on not closing earlier was right: It gives me US$ 13 in the end.

The results of the tradings are displayed below:

Look forward for another happy trading sessions !!

Happy Trading, Folks !!

E-gold Investments Journal

2005-11-03T10:14:00.000+07:00

As for today, besides my day to day journey with marketiva, I will also put into the sidebar my weekly experiences with so many e-gold investing opportunities out there. So, don't forget to check the sidebar whenever you are coming here.