Trading while traveling in China and Hong Kong

Finally i have experienced trading FX while traveling in China and Hong Kong in December. It was a good experience enjoying sightseeing and trading FX. Thats why people say u can trade anywhere in the world as long as there is internet. I used my HTC Touch 3G to trade during travel because i didn't want to bring a laptop. The first few days in Taishan and Guangzhou China, i couldn't trade as there were no wifi in the hotel so i miss the Euro drop from 1.4600 area. Subsequently, i traded while i was in Shenzhen and Hong Kong which gave me some nice scalp trades. Thats what i call
"Trading on the Go, anytime anywhere"

Won a Macbook Air from Western Digital Contest

Just back from China and Hong Kong holidays!
Opened my email and saw the greatest Christmas surprise i have ever had!
I just won a Macbook Air from the Western Digital contest!
OMG!

New Year 2010 to-do-list

To-Do-List for 2010

Going to test a new fade scalp strategy on January.
Will be writing a pdf on my 1 year forex journey and all the important notes.

Guangzhou and HK trip

Will be leaving for Guangzhou and then HK tomorrow morning!
Happy Pipsmas everyone and a Happy New Year!

Golden Screen Cinema count the logo contest

GSC Mid Valley 10th Anniversary Contest. 2-23 December 2009.

Count the number of GSC logos in the picture and send in your entries!
Hyundai Avante 2.0 up for grabs!


Answer : 48 logos

11/12/09

GBP and EUR strong across the board. JPY the weakest.

Banked GBP/CHF

Strength Meter

Hi, i am using FX4caster strength meter.
My entry is when H4 price candle crosses the 55 ema (magenta colored MA in the chart). Then i will refer to the Strength Meter if there is very obivous difference between the strength of the currencies, i will enter. If not, i will stay out. If all the currencies strength all quite the same, i will not enter.

For example, if Euro strength is 3.41 and USD strength is 3.71. I would not short Euro, the difference is too small, no clear winner.
In the chart provided, we can see that USD is very strong 8.86 compared to JPY 2.00, so we can long USD/JPY.

Best entry is when price just broke 55ema, if price is already far away from the H4 55 ema, i stay out because price already run away. For example, the EUR/GBP trade i close with small profits because the price is exhausted and it is showing potential reversal, besides my initial entry is far away from the 55ema which is not so profitable.

Just my opinion. Please comment.

Spike Strategy

5 min Spike Strategy

5 min Spike Strategy

What are spikes?

1. Spikes or long 5 min candles must be 15 pips or more.
2. Price must spike to SR levels, sometimes right to the pip.
3. Spikes indicates price exhaustion ( A last dash to the finish line aka SR level)

How to trade spikes? ( especially in a ranging market)

1. Wait for price to spike to SR levels.
2. After the spike has formed, wait for it to reverse.
3. Entry is when price reverses and breaks the high or low of the spike.
4. Entry is always in the opposite direction of the current direction of the spike.
Example: Bullish spike to Resistance, we sell at the low of the bullish spike.
5. Entry 1 pip above /below spike.
6. Take profit @ 10pips ( high probability) or Close partial.

Trading spikes

How to trade a ranging market

Trading in a range
How to trade it besides buying low or selling high.

3 Musketeers

If DAX, OIL & GOLD is all up. Bias for Euro should be Long~

Asian Session fakeout

Early morning Asian session Long candle cannot be trusted!!

Euro before Nov NFP

Dollar Index gone cuckoo?

Major spike in Dollar Index, Euro fell 176pips today. Currently trading @ 1.4640.

Edit: Its a spike by the broker : Broco Trader, i have no spikes on other platform with Dollar Index

November 09

Awesome October~ Very happy, my profits in my trading account were very good and i also got my broker's spread rebate (USD241.50) from CashbackForex for the month of September. Bought myself Percy Jackson's Lightning Thief and sequels, altogether 4 books. Now waiting for The Lost Symbol by Dan Brown in paperback version.

Gambate in November and December~

Aiming big next year and getting my red Peugeot 308~!

We may see more downside in Euro before a bounce back up~



If the daily supporting trendline breaks, we may see more downside.

Euro Correction

http://www.winnersedgetrading.com/trade-of-the-day/eur-usd-euro-correction-today


Euro at an important support. I expect it to correct even further. With upcoming US GDP, a further correction will provide a better to level to Long Euro if the GDP data is good.

Upcomign supports for Euro

Upcoming supports for Euro correction

1.4966
1.4943 (Daily candle Hammer Low)
1.4920
1.4900
1.4882
1.4842 ( 38% Fibo )
1.4763 - 70 ( 50% Fibo )
1.4700 ( 61.8% Fibo )

Euro failed at 1.5000. Correction may be in place~

Gold is amazing! Reaching the highs of 1061~

Corrections in Euro

Finally Euro doing corrections after hitting a high of 1.4843~

1.4719

Euro next resistance at 1.4719. Lets see whether it will touch it~

Euro 1.4500

Yeah Euro finally hit my target at 1.4500

End of August for me. Going off to celebrate Merdeka. This month 22.02% gain in account~

Oil

Over and Under Pattern frm NBR

July

July Euro's Price Action kinda hard to trade. However, i am quite happy with a 24.44% growth.

Idiot IBFX

I dont know whats wrong with IBFX, the demo server keeps disconnecting since the last month. Really screwed up. ZZZ

Price Action for July 2009

Price developing similar pattern for this month compared to April. We may see more downside to EUR/USD.

Yeah~

This week ended with much profitability in trading EUR/USD, had a bunch of nice pips to sleep with over the weekend. Going to attend the launch of M10- Magic the Gathering, card game on Saturday~!

Fading 1.3746

1.3746 area is crucial support for Euro. This area has a confluence of 38% Fibo and Monthly Pivot Suport. There is a Swing Low in June 16 and Swing High in March 19-23.

I may FADE this area.

Month of July

Month of July started with a bang and some good volatility. An UP day on 1st of July and a DOWN day on 2nd of July.

Lets see what this month's price action has to offer.

If price breaks 1.3920 we will see more downside as this area is 38% Fibo from June 16 low to July 1st high.

If price breaks back above 1.41oo, we may see more upside.

26 June 09

1.4040 is a strong resistance with a confluence of fibo points and also 1.4050 No Brainer Level. I expect price to test this level today.

23 June 09

Finally there is a Breakout today after ranging for the whole week. Price bounce of the monthly pivot support and broke the upper trendline. If price can stay above 1.4000 today, the uptrend is still intact. Be careful of FOMC meeting tomorrow.

Waiting for a break...

1.4000 Neutral Zone

Price is now at 1.4000 the Neutral Zone. Last week's candle is a doji with a high of 1.4176 and a low of 1.3804. A break of the high or low of this weekly doji candle will determine the direction of this pair next week.

Euro contained in a wedge pattern.

My Withdrawal

After trading Forex for 8 months. Today is my First withdrawal. Wow, ecstatic!

Euro Week Ahead

Looking forward to see Euro test the Lower Trendline.

Euro bounce off 1.4100 beutifully and went straight up. We will see 1.4365 soon.

Euro June 1- 5th

May has been quite profitable. And i m glad Diversity won Britain Got Talent, really an Awesome dance act.

Euro has created another high again for the year. There is a steady lower trendline in the H1 chart. Congestion Area is at 1.4050 - 1.3956. I will be looking for bounces at 1.4050/1.4023/1.3980.

Support for Euro:
1.4100
1.4050
1.4023
1.3980
1.3800

Resistance:
1.4182 (50% Fib)
1.4365
1.4400
1.4532

Euro 1.4000

Euro is trading at 1.4000. Its near the resistance of 1.4050. Waiting for a break of 1.4050.

Euro Range 1.4050- 1.3860

Euro will be in this range of 1.4050 - 1.3860. Breakout play in position.

Euro 1.4000

Euro next Resistance at 1.4111 and 1.4365.
Support at 1.3883 , 1.3846-38 and 1.3723.

Waiting for a pullback to find support and Long Euro.

Reversal Candle Patterns in USD/JPY

This is far from your normal clean reversal pattern. You’ve got four indecision candles and the last one actually makes a new low. A lot of newbie traders would look at this and not be sure what to do.

However, it is quite simple. Despite the messiness of these candles all we are seeing here is a period of indecision. The bulls and the bears are fighting it out, sometimes the bulls win sometimes the bears, but all their victories are short lived.

What we do know, for certain, is up until five candles ago the bears were in complete control of the market. However, for the past four candles, the bulls have been fighting back. It makes sense that we would see a reversal here.

Euro 17May 2009 H&S

Euro H&S pattern. Next level of support will be at 1.3300 and 1.3100.

Euro 1.3722 Resistance

Euro is heading for a correction.

Price Action at Weekly Pivots

Weekly Pivots are important areas where price tend to find support and resistance.

For me important S/R areas are:

1. Daily Open GMT0000
2. Weekly Pivots
3. Round Numbers
4. Daily Pivots
5. H1 and H4 Swing High / Swing Low
6. Previous Day High Low

6 May 09

Shorted Euro. Price is trying to break 1.3300. Going into ECB rate cuts on Thursday.
Next level of support will be 1.3211, 1.3100 and 1.2885.

Weekly Pivots

Weekly Pivots are important S/R areas. Price tend to reverse at weekly pivots.
Be xtra careful when price approaches this area.

Rode the EU down

Shorted this BEAR.. WOOO HOOO
Good day~

Euro End of April

Next week will be tricky, Euro can go either way.

24 April 09

Euro has been moving up steadily ever since it broke the congestion area.

23 April 09

Euro has broken the congestion zone, staying above 1.2994 now. I reckon it will test the 38% retracement at 1.3078 and also the previous swing low area at 1.3088. Period.

Euro is Ranging

Euro is ranging between 1.3000 and 1.2886.

My GBP/JPY short

Dealbook 360 by GFT Forex

I have been trying out the platform for some time now. But i m still not used to it.

----------------------------------------------------------------------------------
Below are links to video tutorials and other useful references for getting started with GFT's award-winning trading platform DealBook® 360.

DealBook® 360 Video Tutorials:
http://www.gft.com.au/software/dealbook360/tutorials.asp
Or
http://www.youtube.com/results?search_type=&search_query=dealbook+gft+how+to&aq=f


DealBook® 360 User Guide:
http://www.gft.com.au/documents/manuals/db360_user_guide.pdf

16 April 09

Happy Birthday to me .. :)

16 April 09

Euro Outlook

Post-easter uptrend continues (assuming this PA tonight is a retrace against the trend) then I'm looking for longs building a position towards 3500 and 3600

There is talk of 'huge' ascending triangle on USD index getting ready to blow

Fits in nicely with the 10-day wide DB on EURUSD at 3100

So right now we are retracing back from the first test of 3400

This is wave c of an a-b-c correction: when wave c is complete then wave 3 begins: wave 3 is usually 1.6 X wave 1: which takes price close to 3600: so I am looking for something like 3250 -> 3600: we had a bigger range than that last week so it's not hard to do

What about the move up from 3090 to 3390 (300 pips) that is what I call wave 1

62% ret of wave1 = 3204 ; so my ideal scenario this week is 3200 -> 3600.

View

An early morning view of my room~

Nintendo DS White

I can't wait to lay my hands on the Nintendo DS my friend bought from Korea.