FKLI Trade Setup 9/3/11

Setup - Sell on the break of 1514.

Pips banked in GBPNZD

Pips banked in my GBPNZD trade yesterday with 100+ pips profit.
Setup - Price created a new high on Monday but closed below Friday's open. Sell when price broke below the Monday's low. Bears were in control as shown in the inverted bearish hammer.

Trading on Micro

Trade Setups on others (anything besides EU,GU, EJ, GJ, USDCHF, USDJPY)

Taking trades on other pairs in my micro account.
Sell GBPNZD on  the break of previous day low.

FXDD live account contest

FXDD live contest in the ranks. lucky for me i guess.

nov 2010

November 2010 was a profitable trading month for me. My entries example in this post.

long time no blog

My post after such a long pause. Took 2 long entries yesterday in Euro.
Waited for the 15mins candle to confirm before jumping in.

one of my screen FX Dashboard

One of my screen with FX Dashboard. Includes currency, commodities and stock market meters.
Also in this dashboard is the Forex Calendar news.

9 Sept 2010

Textbook trade on 9th Sept 2010. Long and Short both gave some nice pips. : )

Merdeka

- My 20pips chatter -




Month of August was a profitable month for me.
Stick to trading 15min confirmation.
I need to improve on my discipline and risk management.

- Trading hours 3pm -12midnight only
- No trading during Asian session
- Avoid news trading
- Always wait for confirmation

My daily target is 20pips or 1% of my account.
Monthly goal of 400pips.

Pic below is my last trade for August. Entry at 1.2700 TP at 1.2784 for +16pips.

FKLI 26-08-2010

Ok, besides EUR/USD charts. Here is my 2 cents on what trade could have been taken on 26/08/2010 for FKLI. Although i don't trade FKLI, i just want to share my trading ideas and strategy.

As you can see from the chart, FKLI filled the gap at 1390 and formed support in this area.
In other words, price filled the gap, formed double bottom and blew right up.

My trading idea would be to wait for a 15min candle to close above the previous candle.
After closing i would wait for the next 15min candle to pullback and enter buy on the pullback for a better price and a smaller stoploss.

As you can see from the chart, this is a trade with good Risk : Reward ratio in hindsight.

All i want to say is, Trade Naked aka without indicators. You will definitely become a better trader. Remember Price is King. Screw those indicators, throw those MACD, RSI, STOCHS away.


Freshly squeeze quotes

“Every winner needs to master three essential components of trading; a sound individual psychology, a logical trading system and good money management. These essentials are like three legs of a stool – remove one and the stool will fall, together with the person who sits on it. Losers try to build a stool with only one leg, or two at the most.”

- Alexander Elder

27/08/2010

27th August 2010

Perfect entry trade. Entry on the pullback right to the pip.
Took full profit when price reached the trendline area.

i am back!

My month of July trading account curve

After a hiatus of 3 months , i am back from holidays and the world cup. I started trading again in July in my micro account with a balance of $62.35. My lotsize was 0.02 or 20 cents per pip. I had an extremely great start in the month of July - profit of $120.39 or a whopping 600 pips!

My strategy is based on 15mins chart. Only candles, no indicators whatsoever. I don't need MACD, RSI, ADX, STOCHS etc. I just need the basic charts to tell me the price action.



My trading charts. Candles don't lie.

I will continue trading this straegy live with my micro account until i achieve 3 - 6 months consistency.

Trading

I am currently trading and joining Tim Chandler's Price Action room - Candles Don't Lie.

Really learnt a lot after joining for a month now, the strategy is based on 15mins candles without using any indicators at all. This strategy has improved my trading tremendously, now i have more courage to trade pairs like the Eur/Jpy and Gbp/Jpy. I am trading this strategy on micro lots until i have more confidence and mastered it.

"Being too early on the trade is the same as being wrong. Entries are everything."

May 2010

May 2010. Starting the month with renewed mental strength for trading. Lets see what does this month offer.

random picture ~

My Cooliris Wall