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