Friday, December 25, 2009
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"
Thursday, December 24, 2009
Tuesday, December 15, 2009
Sunday, December 13, 2009
Thursday, December 10, 2009
Saturday, December 5, 2009
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.
Wednesday, November 18, 2009
Thursday, November 12, 2009
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.
Wednesday, November 11, 2009
Tuesday, November 10, 2009
Sunday, November 8, 2009
Thursday, November 5, 2009
Tuesday, November 3, 2009
Sunday, November 1, 2009
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.
Monday, October 26, 2009
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.
Sunday, October 25, 2009
Tuesday, October 20, 2009
Thursday, October 8, 2009
Thursday, September 24, 2009
Tuesday, September 15, 2009
Tuesday, September 8, 2009
Wednesday, August 26, 2009
Wednesday, August 5, 2009
Friday, July 31, 2009
Saturday, July 11, 2009
Friday, July 10, 2009
Thursday, July 2, 2009
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.
Thursday, June 25, 2009
Tuesday, June 23, 2009
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.
Saturday, June 13, 2009
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.
Thursday, June 11, 2009
Sunday, June 7, 2009
Tuesday, June 2, 2009
Sunday, May 31, 2009
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:
1.4182 (50% Fib)
Friday, May 29, 2009
Tuesday, May 26, 2009
Sunday, May 24, 2009
Tuesday, May 19, 2009
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.
Sunday, May 17, 2009
Wednesday, May 13, 2009
Saturday, May 9, 2009
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
Tuesday, May 5, 2009
Monday, May 4, 2009
Monday, April 27, 2009
Saturday, April 25, 2009
Friday, April 24, 2009
Wednesday, April 22, 2009
Monday, April 20, 2009
Thursday, April 16, 2009
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:
DealBook® 360 User Guide:
Wednesday, April 15, 2009
Tuesday, April 14, 2009
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
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.