Owner: Forex Trading Journal URL:http://forex-tradingjournal.blogspot.com/ Join Date: Sun, 10 Feb 2008 13:35:37 -0600 Rating:0 Site Description: Forex Trading on EurUsd, GbpUsd, UsdChf, UsdJpy and EurJpy. My focus are in day trading and also longterm trades which are based on both technical and fundamental analysis. I also take high considerations to macro-economic factors. My aim is to become an Site statistics:Click here
Procedure Prior to Open a Position (Update 1.1) 2006-03-13 12:24:00 I just make a big mistake! I followed all the rules but it comes to me i am in still a losing position. Well what happen is I miss the real important thing to do: TO CHECK WHERE THE MARKET IS GOING!!! This really has kicked me to the wall. So this is the added rules, hopefully this will become a perfect rule and would save me from kicking myself again.Check the trend: Is it upward or downward.Use 4hr chart to check the trend using MACD histogramto check the major trendGo to smaller scale (1hr) to watch entry point (this is explained in rule 2-7).to check the minor trendUse 15min chart to pinpoint the entering point (this is a subtitute method for rule 8, use rule 8 if time is very limited).Always follow the trend of the larger scale.trade the reversal from the minor trend to the major tren Read more:Procedure
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Rugi 20% - Apa Dah Jadi? 2006-03-10 12:23:00 Dalam trade yang lepas saya kerugian 20% daripada total risk capital saya. Ini merupakan kerugian yang besar, tetapi saya berkeyakinan ianya boleh dipulihkan semula. Tiada masalah.Yang menjadi persoalan di sini adalah bagaimana ianya boleh berlaku. Ini menjadi satu perkara yang agak besar.Kronologi:Saya bermula trade dengan keuntungan beberapa point pada waktu pagi. Kemudian saya exit position ini. Pada sebelah malam saya dapat portfolio ini telah melonjak agak tinggi, saya merasa agak kerugian kerana exit terlalu awal. Saya kemudian dengan agresif membuka beberapa position pada portfolio ini dengan harapan ianya akan merudum memandangkan nilai kenaikan yang sudah agak tinggi. Saya berpendapat ini hanya merupakan kesan tindakan hedgers sahaja. Tetapi perkara yang sebaliknya berlaku, portfo
Procedure Prior to Open a Position 2006-02-28 12:21:00 It is very intense and emotional when deciding in the forex. So I have written these procedure to help me facilitate the decision making process in opening a position.Print chart of the currency pair.Analyze pattern of the chart, whether it is:reversal pattern, orcontinuation patternAnalyze the volume of the chart, watch for:high (peak) volume, climax bottom or topvolume trend vs price movement, whether it is reducing or increasing with the price movement.Analyze MACD:watch for divergencereversal sign (small hump)weaken force of bull / bearAnalyze stochastic oscillator for 1 hr, 4 hr and daily chart.Analyze retracement level.Set price to open position based on volume and retracement level with the most probability to occur.Set initial stop at the nearest minor support/resistance +2 pips.Se Read more:Procedure
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Weekly Forecast: Saturday February 18th 2006-02-18 12:19:00 Saturday February
18th 8:35 AM ESTEUR/USD (1.1939) - WeeklyForecast
Trading range: 1.1845 - 1.2135Trend: UpwardOn Monday the US Markets are closed due too President's Day. The main factor moving the dollar stronger during the last few weeks were the expectations for continues raising of US Interest rates. Also the US economic is moving very well especially the positive news from US Unemployment sector. The key economic events for the coming week are US Leading Indicators, Durable Orders and FOMC Minutes. Based on technical analysis the EUR/USD is on the way to move above 1.2030 even 1.2135 if the market is supported by the fundamental factors. Break below 1.1848 will means continue of the downward trend from the last 3-weeks.USD/JPY (118.04) - Weekly ForecastTrading range: 116.80 - 119.40T Read more:Saturday
New Chart Setup 2006-01-13 12:10:00 Ini merupakan chart setup terbaru saya. Terdapat beberapa indicator baru yang digunakan. Gabungan dari indicator ini boleh memberi gambaran ke mana arah market akan pergi. Setiap indicator mempunyai fungsi yang berlainan:Moving Average (MA) - cross over MA21 & MA8 memberi pengesahan perubahan arah trend.Stochastic - Amaran tentang kemungkinan reversal.Squeeze - Memberi tempat entry & exit pada carta.Volume - Volatity marketMomentum - kekuatan market pada masa tersebut.MACD - Amaran awal ttg reversal atau penerusan trend.TTM Trend - Menunjukkan arah market.Beberapa perkara yang perlu diingat semasa permulaan sesi setempat:Pivot : jika trend berada di bawah pivot point, setelah permulaan sesi trend akan bergerak ke atas pivot pointPivot : jika trend berada di atas pivot point, setela Read more:Chart
Am I a loser? 2005-12-24 12:00:00 Recently, being quite a loser in the trade. But basically all my prediction is right, although it contradict with other experts opinion, beside the odd i am a winner. But the trouble is to control my emotion. This emotion has overule my prediction which very technical and correct and made my trade to loose.So now i have stop trading for a while to gather back my strength emotionally. I still did the usual forecast, but not getting into the trade. This lost has made my feeling to feel nothing over the lost of a sum of money. This is just one of the learning process which i have to go.Quitely i feel quite confident with myself over my technical analysis. All the fundamental news is just a player for the technical thing. Like John Murphy always said: 'To know where the market will move is mor
Richard Rhodes' Trading Rules 2005-12-16 08:25:00 Richard Rhodes
wrote:I must admit, I am not smart enough to have devised these ridiculously simple trading rules. A great trader gave them to me some 15 years ago. However, I will tell you, they work. If you follow these rules, breaking them as infrequently as possible, you will make money year in and year out, some years better than others, some years worse - but you will make money. The rules are simple. Adherence to the rules is difficult. "Old Rules
...but Very Good Rules" If I've learned anything in my 17 years of trading, I've learned that the simple methods work best. Those who need to rely upon complex stochastics, linear weighted moving averages, smoothing techniques, Fibonacci numbers etc., usually find that they have so many things rolling around in their heads that they Read more:Trading
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Stochastic Short Term Trade Method 2005-12-09 08:16:00 Setelah saya meneliti teknik stochastic dari satu artikel tentang short term trade dan cuba perhati pada chart Euro/USD, saya dapati apa yg diterangkan oleh artikel tersebut adalah 70% boleh meramal kenaikan/penurunan harga.Indicator lain yang diperlukan oleh teknik ini hanyalah Moving Average dengan period 200 hrs. Tujuan indicator ini hanyalah untuk mengesahkan pola (trend) market pada short term.Teknik ini hanya boleh digunakan bagi satu-satu trend sahaja. Contohnya jika pola (trend) telah disahkan menurun maka teknik ini hanya boleh digunakan untuk short position sahaja. Begitu juga sebaliknya.Persoalan bila untuk buka position juga terjawab dengan teknik ini:buy - apabila stochastic oscillator sama atau kurang dari 20sell - apabila stochastic oscillator sama atau lebih dari 80 Berikut Read more:Trade
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John Murphy's Ten Laws of Technical Trading 2005-12-02 08:13:00 Siapakah John Murphy
? Apakah kehebatan beliau sehingga saya meletakkan nama beliau pada tajuk post ini. Sebenarnya dia adalah seorang analyst pada satu laman web yang tersohor tentang chart education, StockCharts.com. Beliau telah berpengalaman 30 tahun dalam bidang trading ini, menjadikan beliau seorang yang boleh saya percayai dan boleh dijadikan rujukan. Beliau telah menulis beberapa buku yang menjadi best seller contohnya: Technical
Analysis of the Financial Markets, Intermarket Technical Analysis and The Visual Investor.Perkara asas dalam pendekatan John dalam analisis teknikal ini menekankan adalah lebih penting mengetahui ke arah mana pasaran akan bergerak, berbanding dengan persoalan mengapa di belakang gerakan itu.Ini adalah Laws yang dibu Read more:Trading
28 November 2005 Trading Eur/Usd 2005-11-28 08:08:00 Today dollar is strong, I expect bearish move. The question now is1. Should I trade today?2. What is the entry position that is good (less risk & good profit)?3. Or shall i just leave the market today?4. If enter, where shall i close?The E/U just past the 1.1707 resistance. It is with good RSI now to go to 1.1754 area. I think this a good position to enter.Close where? 1.1678 is good. Waiting for NY to open is a good idea.Update: Last night was a disaster to me. With 80 pips lost, i had made a very big mistake not to put stop loss. The news of household sold has put the trend another way than i expected. To recover my losses may take sometimes and i need to make a recovery strategy. my strategy is to gather 30% from each trade. by this i would get at least 4 times of trade Read more:Trading
, November
Weekly Forecast: Sunday 27th November 2005 2005-11-27 08:05:00 EUR/USD (1.1724) - WeeklyForecast
Trading range: 1.1515 - 1.1860Trend: DownwardThe coming week is full of very important economic events. The movements on the forex market will be based over fundamental indicators. The most important events during the coming week are US Durable Orders, Consumer Confidence, GDP-Prel, Fed's Beige Book, ISM Index, Unemployment Rate and of course US Non-farm Payrolls. The coming week will offer a good fundamental support for the dollar. Based on the fundamental expectations there are chances to see new record low levels of EUR/USD and movement below the last key support at 1.1638. We recommend waiting for a good high and opening short positions during the week.USD/JPY (119.62) - Weekly ForecastTrading range: 118.60 - 120.55Trend: UpwardAfter the Wednesday bott Read more:November
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My Forex Account Disabled 2005-11-23 08:01:00 This is very upsetting. My forex account has been frozen without any reason. I don't know what is wrong. Why? Is it wrong to have that amount of profits? :(Updates:1.This is totally my wrong. Opening 50 position in 1 time will cause trouble to the server. Hopefully my client will be enable back very soon.2. Dear Jeni, Thank you for contacting our team and for your interest in ******. > Now i understand how to get this 50% leverage. I just chat with my > friend and they said that i can do that by just 1 order. This is > totally my wrong, i admit. Feel quiet shame with you for my ignorance, > again. > > I will not do this again (opening 50 position at the same time by > limit order) because now i know the right way to do it. OK, please do so. If we see again the same Read more:Forex
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Weekly Forecast: Saturday 20 November 2005 2005-11-20 07:54:00 EUR/USD (1.1776) - WeeklyForecast
Trading range: 1.1595 - 1.1895Trend: NeutralThe dollar gains during the coming week will make a temporary pause. The movement's last couple of weeks was strong and for the coming week is expecting not significant correction to levels of 1.1895. There is a fine moment to open short position again. Still the chances for movements below 1.1600 levels are high.USD/JPY (119.09) - Weekly ForecastTrading range: 117.90 - 120.55Trend: UpwardThe Yen meet for the moment good resistance closing the levels of 120. The indicators shows that the resistance is not strong and could be break soon. It is possible to expect temporary downward correction that will be a chance for opening long positions that will break 120 during the coming one or two weeks.Update:I think the m Read more:Saturday
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My Rule of Trading 2005-11-18 07:52:00 To succeed everyone must follow rules. So do i. I have created several rules to my trade so that this will prevent me from getting unnecessary losses, reduced them to the minimum, while getting the maximum profit with good risk management & analysis.So here they are:Always use a stop order. i never put a trade without a stop order.After losing a trade in one day stop trading. I don't want to dig myself a huge hole.Only open a position when there is more than 60 pips move. I don't want to take the risk of getting a small profit while having great risk of losses.Only enter a position when there is a confirmation of the trend. I will only trade only in the way of the trend and not in the opposite direction. This will keep me safe from losses.Always act with the best interest in mind. I wi Read more:Trading
Finally I Got Words on e-bullion 2005-09-28 07:40:00 Finally i got word on the question I mentioned earlier in my blog. I asked a fellow internet marketer about it, and generously he answered it. He said that the charge will not be applied to the account which has zero amount in it. That is a good news for me. I don't want to pay for the service that i don't use.Though i got the answer, i haven't register for it yet. I have other option for transferring money via wire transfer, but that will be costly. I just want to deposit a tiny amount of money to my trading account. Like i said before, i don't want to get washed out of the market quickly, so this is a step for me to prevent it from happening.So, i look forward to start trading next week, today is already Friday, I don't want to enter a trade near the closing bell and get stuck during the Read more:Finally
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