INTERNET PROBLEM

Having trouble log in into blogger account lately. Forex is not going anyway at the moment. Up and down it is still at the same level.

Currently I am watching for a certain level in GbpUsd. 1.4650 is the level I am waiting for. Believe it or not, I have not traded this week. Today GU nearly hit my stop order. I am still waiting

NOW I KNOW WHY PEOPLE USE APPLE MAC

I was doing some graphic editing these days. Just as a hobby. It seems that everytime I try to render in Photoshop, my pc will shutdown. It just switch off the power and everything is blank.

So I decided to investigate on the cause of the shutdown. After monitoring the temperature while doing some Photoshop rendering. My CPU temperature climbed up to 94C and my north bridge chipset is at 124C and the system will shutdown.

Imagine the component of your PC is reaching 124C. That is higher than point of boiling for water. It is scary sometimes thinking that the pc is under my table, just beside my leg and it is burning hot. Hopefully nothing will ever explode and take my leg with it. Im typing this with one leg on the chair just in case.

If you are using a pc, there is nothing to worry about. Under normal usage, the cpu is always below 40C. Mine is sleeping at 33C now. Its just that when you do some heavy calculation stuff that everything turns up red hot. So you can just surf the net, play some 3d games, watch dvd etc. Those normal usage do not require heavy calculation and your PC is half awake. Btw, 3d games is not a heavy usage. My pc can run Quake Wars with everything turned to max for hours. No problem there.

I will not use photoshop again on this pc. This is my power pc and it is running hot. I am using my 2nd pc to render all my photoshop graphic. Its been an hour and my 2nd pc still not finish rendering a 14Mega Pixel picture. This pc however can do it in 10 minutes. Talk about difference in power.

Next I am going to buy an Apple Mac for all my rendering needs. So my house will be full of computers. Btw I have 3 desktop and a laptop now working in the house. So if I add another Mac, I can turn my house into a cyber cafe.

As for Forex, its going up but at the moment the direction is down. So be on the look out for a sell but keep in mind, the long term trade is a buy. Forex is not a straight road and I feel like Yoda speaking right now. How can I say sell but at the time look for buy. You know it when its there. I assure you.

THESE ARE HARD TIMES.

The Market is now moving with unexpected turns. These are hard times. News traders have long gone. These kind of market isnt moving with the news. The only ones left are fundamental long term traders and technical traders. These are the traders who will survive in these kind of situation.

I have heard of quiet a numbers of blown accounts now. For these people dont feel bad. The world is not againts you. Just have to wait for a better time to enter the market.

I for myself have taken the long term trades only. Short term trades is out of the question now. Those sharp and sudden turns will kill any short term traders. It took me a while to realize, fortunately my loss is small and I manage to change tactics in a short period of time. At the moment I only take long position because that is what the daily chart is saying. All managed accounts is currently on hold. No more live trades for managed accounts. The risk is not very healthy right now.

These are hard times. The market is ever changing but at the moment the changes is greater than before. You need to be on your feet and react accordingly to changes of the market. Survive this and you will survive a long time in the market.

Ranging Market

In long term, this is a ranging market. You can see it from 4H. In medium term, this is a turning market. It is in a process of going for a long trade. That is the direction but I do not know if the trend will hold the direction.

Last week I manage to profit but only by a little. I lost a lot on Friday but manage to cover the losses and gain a little profit in the last minute. Have to stay up till 4am just to cover the losses.

Its a hard life becoming a trader. Is this the life you wanted? Sometimes I wonder that myself.

RANGING PERIOD

Its ranging period again and its driving me nuts. My SL for EU got hit after 3 days. Got a few chance of closing it in profit but I refuse. Talk about being greedy now I am down by 50 pips.

This time around, big move belongs to GBP pairs. Steady move belongs to AUD pairs. Take your pick. You want big and risky, or small but safer. Safe here refer to your insurance in forex called Stop Loss.

At the moment GBP pairs has hit a brick wall on its way up. Most probably it wont break it or drop down again. Either way, a drop down again is unavoidable. That is where i plan to take my entry. Long position is looking good now but only after one more correction.

A UNIQUE CONDITION

At the time of writing EU is in a unique condition. 30M = 4H = D1. They are all pointing up but a bit heavy on the downside. This type of condition is very dangerous. It is all based on market sentiment.

At the moment the market is still trying to push EU down but EU has aligned itself for a shoot up. Just be carefull where you are standing when the big dogs enter the arena.

CRAPPY CONNECTION. RANGING PERIOD

Sorry for the long period of no update on this blog. It seems that internet connection is really bad. At the office I am using Streamyx. Connection is crappy as usual. At home I am using Celcom 3G. Its better but its slow. Maybe my home is not well covered by the 3G network.

As for forex, EurUsd, GbpUsd, AudUsd, EurJpy and GbpJpy is heading up now but not to worry, there is still time. On the long term only EurUsd looks good for a long trade. I am currently holding long EurUsd @ 1.2640 with a stop loss of 50 pip. This is a long term trade, hopefully the move upwards will take a long time and lots of pips on the way.

As for the other pairs, it is heading up but its not an uptrend yet. They will be entering the ranging period now. So there will be plenty of chances for entry. If all these pairs maintained their direction we will see a change in trend in the longer term trades.

I will list key levels for guidelines. These key levels are good for both sell and buy position. Treat them as guidelines for entry in either direction.

EurUsd : 1.2670
GbpUsd : 1.5050
AudUsd : 1.6450
EurJpy : 119.20
GbpJpy : 141.50

These key levels are always changing. Since most of these pairs are entering the ranging zone so you can use these key level for this whole week. As for me I will be looking for a long trade from these levels that is if the current direction stays.

Good things are simple things. If you have a system, make sure it is simple. With simple indication you can make clear decision.

BREAKING THE TREND

At the moment, majoriti of pairs are struggling to break the trend. From my analysis, only EurJpy and AudJpy have broken the trend. The rest will be in ranging mode until the trend is broken.

AudJpy @ 61.70
EurJpy @ 123.80

Those are entry point for short. Those are guideline only. You should be looking for better entry unless you have the guts for -ve pips

The rest of the pairs are ranging at the moment until the trendline broken. Do enter at will but no long term trade. Scalping mode from now on until a new trend is born.

Good luck

STOP LOSS HUNTING. THE MARKET IS CRUEL

Sometimes it happen but this is one rare ocassion and I am really stunned. I was holding a long position on GJ. I am in profit of about 100 pip with a stop loss of 50 pip from my entry point. Guess what. The market turned down 150 pip in one move, hit my stop loss and now its flying.

This has nothing to do with the broker, it is just the market is cruel. No matter who, you will get hit sooner or later. In order to hit me, the market has to move 150 pip againts the trend. What an honour I must say. 150 pip is much more than most people TP.

Enough said, all pairs should have a steady climb from now on. If you are holding long at the moment, make it long term.

MY HOBBY

Spent sometime at the beach yesterday. Taking a few pictures here and there. I have cropped the pictures into a widescreen wallpaper. Maybe some of you may like it. Its not a professional job but for me its ok.

ITS FRIDAY EVERYONE. GET LOST

Its Friday and time to get lost. If any of you still holding long position from this morning, its time to close it and get lost. Go get yourself lost in a pub, disco or something.

Im going off now. See you next week.

Btw, 500 pip move by GJ is unbelieveable but its Friday, anything goes on friday

FOREX TEMPLATE FOR GRAB

I am thinking of uploading my system to the internet so that it will be available for everyone. It will only be the basic system. The rest you have to figure out yourself.

Can anyone tell me where is the best place to upload and share files. I intend to upload a MT4 template and a text document explaining how it works.

Suggestion anyone??

FRIDAY AGAIN BUT WITH A LITTLE TWIST

As I said before, Friday is not a good day to trade but what if you have a signal to reverse everthing on Friday morning. Will you take it?

AUDUSD did drop down an enormous amount. I hope some of you profit from it as I posted earlier asking you to find a place to short as good as humanly possible. Now its changing direction. Unfortunately it happen on friday morning. As we all know, Friday is for those short term trader to take their profit. Money will flow out of the market leaving it with a very low trading volume. Anything can happen on Friday.

Trade on your own risk

FRIDAY IS NOT A GOOD DAY TO TRADE

Personally after almost 3 years of trading, I found that friday is not a good day to trade. This is true especially at night. So adviceable not to trade late during NY time.

Yesterday was a mixed bag. I hope some of you have closed the post when in profit as the market swings in both direction.

ITS NOT MINE BUT ITS NICE

One of my students followed my trade. That is his post. For a gain of 155 pip live trading. Who can complaint

LONG TERM TRADE

Last nite jump was expected but GBPUSD never made it big. Only EURUSD and AUDUSD manage to jump big enough. EURUSD was screaming long from early morning yesterday while AUDUSD make the last minute move.

From a long term perspective. AUDUSD is in a good position for a short position. This is a long term strategy and may require you to have high tolerence toward -ve pips.

So the signal is to short AUDUSD and AUDJPY at the best position as humanly possible. This trade may run up to weeks if not months. So prepare your account for long term holding of post.

Good luck

POSSIBLE REVERSE BY GBPUSD

Looking at the charts this morning, I have a very strong feeling that GBPUSD will make a reverse soon. The move will be significant enough for a reverse trade. I have closed all my short post last night. Dont get me wrong, all these pairs are still on a downtrend but the correction is going to be huge.

Only time will tell. Good luck

TESTING OUT ZULUTRADE

I test Zulutrade as a signal provider. So far so good but I must say 1 thing. FXCM is no good. Spread is extra wide. Carry trade pays so little but get charged so much. Its a losing situation.

A NEW TOY IN THE HOUSE

Busy with a new toy. Sony a350. 14.2 Megapixel Digital SLR. Much better than my old Konica Minolta 7MP. Btw all short post is closed now. Market is going to be crazy for a while.

MARKET REVIEW MON, 10 NOV. WEEK 46

My position late friday ended up in break even. It seems the market has turned over the weekend. This is a rare situation but sometimes it happens. In forex everything is possible.

Monday morning. The currency that is most volatile is GBP, EUR and CAD. I will not talk on CAD since I dont trade it. For GBP and EUR, it has grown in strength. Market has turned and the trade is now to long GBP and EUR pairs.

I would be looking for opportunity to long GBPJPY and EURJPY. These are the pairs that shown significant trend turn that long position from now on will have a higher chance of profit.

At the moment all GBP and EUR pairs are making a correction. If support level holds, take your long entry on next low.

Good luck

AUTOMATIC TRADING

This is one thing that I hate most. A lot of people asking for my trading system. I know what they are going to do with it. They will take the hard work of many years, code it into an expert advisor and let it run on automatic trade.

For those of you who already has a succesfull system, you may share similliar view. Unfortunately for those who are still looking for a profitable way to trade, this is one of their easiest option. I dont blame them, creating a profitable system is not an easy task. It takes years to develop and test a system with no guarantee of success.

For those of you still looking for a way to be profitable in forex, there are system available on the internet. One of them is Zulutrade. Zulutrade is a place where signal providers (like me) test out their trade system with thousands of traders. It like a competition for traders. Good news is people can open an account and pick which signal providers they want to auto trade their account. Best thing is, its free. Yes, its free. You dont have to pay 30% of your profit to your account manager.

I personally never have used their system but am trying to register as a signal provider. Those of you can try it out if you want. All you have to do is open an account with them. Fund the account and pick which signal providers you want. Dont take my word for it. You have to go to Zulutrade and investigate yourself. Remember its your money.

WHAT HAPPENED TO TRADERS I KNOW?

When I started to venture into the world of forex, there are a few local traders that I knew. They are either seasoned or newbie like me back then but now it seems that most of them are gone. They are no longer in the land of forex and they are doing something else.

It seems the saying is true. Most people will not survive the 1st 6 months in forex. Those who survive the 1st 6 months will have a tough 2 years. Some people lasted longer but they no longer trade. They have become and IB living on commission. One person whom I know doing that is henrycarol. Before he was an IB for Northfinance, now he is an IB for a different broker. Personally I do not think he trade anymore. This is because the commission is too small compared to profit in forex. If you cannot profit, then your option is taking commission on volume traded by others.

I am heading to my 3rd year in forex. I survived this long by controlling my loss. You cannot win all the time in forex but make sure when you lose, you loss is small. When you win, make sure its big. There will come a time when you have series of losses but those losses can easily be recovered with one big win.

At the moment I am managing an account. Its a loss account where the owner already given up hope. It has a very small margin. Apart from that there are 3 more offers. All of it with the amount of over RM20,000.00. All these offers came from people who have actually watch me trade. I now know that account statement means very little. People wants to see how you trade and they want to see you are winning in front of them.

At the moment my trade system have reached it 3rd revision. I have 2 students at the moment but unfortunately for newbie, the amount of information they have to digest is too much. They easily get lost in it. The hardest part is not the amount of information but following orders. Any system in the world will have specific instruction. It seems that humans are very bad at following instructions. It is in our nature. No matter how simple my system is, there will always be times when people do not follow the rules and human like to blame others on their mistakes.

Enough of that. My last signal actually survive the spike of the rate cut. If anyone following that, you will be in profit or break even. The rest of the pair didnt survive the spike.

At the moment I am holding 2 post that is:
1. Short EURUSD @ 1.2830
2. Short AUDUSD @ 0.6670

One of my students followed me during the trade late friday. Hopefully we will see a trend continuation and the above trade will generate hundreds of pip if not thousand next week. Good luck to all of you. Keep on learning and someday you will be there.

October Nonfarm Payroll (Consensus Estimate: -200,000 to -250,000 Jobs)

The September jobs report was rather gloomy as U.S. employers cut payrolls at the steepest rate in five-and-a-half years. An unexpectedly high 159,000 jobs were slashed as employment thinned for a ninth straight month, strongly suggesting the economy may be in recession.

The unemployment rate was unchanged from August at 6.1 percent—the highest rate since the colossal 212,000 job decline in March 2003—as 121,000 people left the workforce.

Job cuts were across the board in September following revised losses of 73,000 jobs in August and 67,000 in July, showing an acceleration of decline in employment. Nearly 51,000 manufacturing jobs were lost last month on top of 56,000 cut in August, bringing the total number of consecutive months in which manufacturers slashed their payrolls to 27.

For week ending November 1, the Labor Department reported that the advance figure for seasonally adjusted initial claims was 481,000, a decrease of 4,000 from the previous week's revised figure of 485,000. They also reported a four-week moving average of 477,000, unchanged from the previous week's revised average of 477,000.

Despite September's dismal numbers, total job losses remain historically low based on revisions to July and August data. The economy has lost nearly 750,000 jobs since employment peaked in December 2007, which is when many economists say a recession began. By contrast, however, payrolls fell an astounding 1.63 million during the period between March and November 2001 in the recession of that year, and continued falling for almost a full two more years, bringing the total amount of jobs lost to 2.7 million.

Given that the labor market typically lags the broader economic cycle, however, there is little doubt that the worse is yet to come as the economy's cyclical downturn continues.

Now that the presidential election is over, focus is sure to shift back to economic matters. All eyes will be on this week's NFP which—if consensus numbers are accurate—will almost certainly hasten the decline of U.S. equities and give a strong boost to U.S. treasuries, boding well for the greenback.

What is the NFP report?

Of all the world monthly economic reports, the monthly U.S. Non Farm Report (NFP) is the most highly anticipated and has the most dramatic impact on the currency market.

The report, which is released on the first Friday of each month and states the previous month's numbers, provides detailed industry data on employment, hours and earnings of workers on nonfarm payrolls. These numbers are the best way to gauge the current state of the US market as well as the direction that the economy is heading.

What's more, the employment numbers provided by the report are used by the Fed to shape their interest rate policies. The health of the U.S. economy and interest rates translate to the strength or weakness of the U.S. dollar.

Risk with News Trading

As with all major economic releases, there could be significant price volatility with this announcement. Currency spreads will typically widen just before the release and will remain wide for a few minutes after. If the announcement is a shock to the consensus estimate, the price of the currency pair could gap significantly. For example, the price on the EURUSD trading at 1.2820 - 1.2822 just before release could gap up 60 pips to 1.2880 - 1.2882, without any available prices available between the price of 1.2820 and 1.2882. A Buy Stop placed before the announcement at 1.2830 would turn into a Market Order and would be filled at the prevailing price 1.2882. The same would be true with a Sell Stop.

Approximately four years ago we saw a gap of approximately 200 pips on the GBPUSD on a Non-Farm Payroll announcement. While this is an extreme example, it nevertheless is a possibility with trading during economic announcements. Consequently, plan on the spreads widening and, if you are trading with a Buy or a Sell Stop entry order, do not anticipate being filled at your entry price. You will be filled at the prevailing market price after the release, which could be significantly different from your desired price of your entry order.

Please be advised that due to the volatility of price fluctuations during the news, it is possible to see a delay in execution due to the additional verification necessary for each trade.

Article from IBFX. It seems news trading is not a good option if you do not know the news before it breaks out

FREE FOREX SIGNAL 6/11/2008

Signal 1
Long AUDUSD @ 0.6720 or better
SL 0.6680
TP on your own

Signal 2
Long GBPJPY @ 154.80 or better
SL 154.10
TP on your own

TRADE OF THE DAY - GBPUSD

This morning after looking at a bunch of chart, I have selected GBPUSD as trade of the day. GBP is weaker compare to other currencies. It would be much better to short it. At the moment hovering around 1.5960 and waiting for a confirmation to trade. Watch out for it.

THE RABBIT HOLE IS FAR INDEED

It seems that the rabbit hole is far indeed. It has moved too far that the trend has turned but now its time for a reverse trade. I am not going to give you a signal but fyi, GU, GJ and GCHF is going long now.

Update:
Volume has been very low for the whole day. A long signal presented itself but with no volume to support it, its not turning. With such a low volume, pairs just slide with the trend. No trade for me anymore. I have ate my stop loss today.

GOOD MORNING FOREX

As usual its Monday morning, but unlike before this morning its a fast mover. As usual forex class started at 9am. Who entered the morning class should be in profit by now. I personally got 100 pips off EJ. Now I am not trading anymore. Monday morning got a lot of work to be done. See you again at 3pm.

UPDATE: 3:56PM


As promised earlier. I am trading again at 3pm. This time the signal is not as favourable as in the morning. We have here is a short signal in an uptrend formation. Still it is tradeable but the level of risk is higher.

In the chart there are 2 symbol of hands pointing up and down.
Hand pointing up:
1. Time: 9am Malaysian time
2. Signal: MA cross and RSI>50
3. Trend: Uptrend formation. This is easy picking. I entered 5 minutes earlier and exit 100 pip later. I could have followed the trend but due to office work on monday morning I cannot monitor it. An early exit of 100 pip on Monday morning is not a bad trade.

Hand pointing down:
1. Time: 3pm Malaysian Time
2. Signal: MA cross and RSI=50
3. Trend: Uptrend formation. This is a hard trade. Short signal on an uptrend formation. This trade most probably be a short one. At the time of writing, SL has been moved +10 pips. So I am at a profitable position now. Let see how far the rabbit hole goes.

A NEW DAY A NEW DIRECTION

Yesterday was a good day. Seriously 700++ pips from GJ alone. Total of over 1500 pips in the bag.

Its a new day and a new direction has present itself. At moment there is nothing that I can do except to follow the direction. At the moment holding short on GJ, GU and EU. This is a short position that I have to monitor. This is because at the moment, all these pairs are in an uptrend formation.

Satu pesanan kepada murid-murid forex. Ingat waktu masuk kelas forex adalah jam 9 pagi. Apa saja yang dihidangkan pada jam 9 pagi setiap hari perlulah diterima dengan hati terbuka. Jgn sekali kali melawan market. Ini kerana market adalah berkuasa penuh dalam dunia forex. Ingat ye, mulai hari ini, perhatikan jam. Masuk jam 9 pagi, apa saja signal yang ada itulah dia permainannya utk hari tersebut.

Happy trading everyone. I trade during the day, and party at night. Is it ladies night tonight?

Update: 11:50 am
Closed all short position. Looks like its going nowhere. Now waiting for a new direction. Looks like there will be a new direction around 12 noon. Next direction is schedule at 3pm. If the direction of 3pm is a no show then the 12 noon signal will remain till tomorrow. At least that is how I understand it.

Ingat jgn trade membabi buta. Babi buta takkan boleh hidup lama. Jadi gunakan akal dan indicator yang ada dan tidak dilupakan volume dan masa. Jam 9pagi, 12tengahari dan 3petang. Renung renungkan

CHANGING DIRECTION

It seems that all pairs are changing direction. I personally dont know if this is a correction or the actual turn. Only time will tell but in the mean time, I am riding it. Long EU and AU at the moment and intending to hold it as far as the trend allows it. Happy trading everyone

A PICTURES TELLS A THOUSAND WORDS

Just thought I would share a picture of my chart. I have decided to share it since I have to use 3 different settings on 3 different brokers to get it just right. Chances are you will find it hard to get exactly what you see here and what you see here dont tell you the whole story.Its forex anyway. You dont have to get the chart right, just get your head right.

White arrows shows how the price interact with the levels that Ive drawn. Its like magic actually. The wonders of Fibonacci.



Btw, volumes are extremely low at the moment. Do not enter.

FREE YOUR MIND IN FOREX

At the moment all major pairs are dropping like flies sprayed with Ridsets. Take your position anytime you want. Its a sure winner. No point talking about something like that. Even a noob is making profit now

What I am going to tell you today is what most new comers dont understand. Its about forex market. What type of people can survive in it.

If you were to become a trader, you must be free of all biased, thought, hope and the likes of it. You dont even have to think. Just see where the market is heading and follow it. Dont trade because you think a pair is going to move somewhere. If you think, you are hoping for it to move according to your desire. You are biased towards it. You are going to be punished by it.

Forex doesnt care what you think. It moves for certain reason and a combination of factors. If you dont know the factors or too lazy to do research, all you can do is follow.

One more thing, most people that I know who trades using technical analysis dont take into account the amount of money moving in and out of a currency. Forex is a money market. People are using money to get more or to lose more money. There is nothing inside the forex market other than money. My advise is pay attention on the volumes traded. It is a fact that at times the volume is too low and those times are not a good time to enter the market.

SLOW MONDAY FOR FOREX

Last week was a good trade. It turns out AUD to be the most volatile and combine that with JPY we have a huge mover. At the moment I am still holding my post of AUDJPY from last week.

Its monday again and like usual its going to start of slow. At the moment the strongest currency is AUD and the weakest is JPY. The signal is to long AUDJPY. Entry point is the hard part. You have to figure it out yourself. Advise is to enter on the next pullback.

As for my basic system, I have found the perfect addition to it. It is exactly what I have in mind with a beatiful and simplified way of presenting it. It is so simple that I will not share the screenshot of it. Since anybody can trade with such a simple indication on the screen.

Forgive me if I am not willing to share since its my work of art for the last 2 years. I am still looking for open forex tournament. Anyone knows any tournament which I can test out my system?

CHARTS GIVES US A CLEARER PICTURE

At the moment EUR is stronger compared to GBP. EUR manage to hold its level while GBP has break a level and is hanging mid air. Beware of your GBP trade.

THE 3 PLANETS INLINE. EXPLAINED

Most of people trading Forex that I know will trade based on pairs. They will trade EU, UCAD, UCHF etc. They trade based on individual strength of pair. Lets look at it from another direction.

When we trade EURUSD, we are actually comparing the strength of EUR and USD. Which ever is stronger we will be buying it in order to be profitable and vice versa. It is true that pair such as EURUSD will move based on fundamental and technical factor. What if we compare USD to 3 other currencies such as EUR, GBP and AUD. If you look at the chart closely you will see that sometimes these 3 pairs break the trend at once. Meaning they are syncronize.

The way I see it, if all 3 currencies of EUR, GBP and AUD becoming stronger compared to JPY at once. This is a sign of true weakness of the JPY and a huge move is going to happen. These moves can be seen once or twice a week only but it will give a huge return.

Let illustrate this for better understanding. This is just a simple example using MA. I am sure you can do better with more advance indicator. Below is chart of 3 pairs. GBPJPY, EURJPY and AUDJPY. At the yellow line, we have MA cross at the same time. See what happens afterwards. Basically this is the idea, I am using RSI to filter the noise and trade those 3 inline moves. Thats how I make money last night. I used MA, RSI and Heiken Ashi.



I would like to know what do you think of this system. Its a system because I am trading it again and again with success. Let me know what you think and your idea in order to filter it.

BACK TO BASIC

I kept on trying to implement new things in my trading style but the truth is my basic system gave me this result this morning. Looking for ways to improve or there is no room for improvement

LAST MINUTE TURN

Last night GU really did go up over 100 pip and then decided to go down. Luckily I have moved my stop loss and gain a little last night. I do not trade the move down since I am not infront of my pc.

Its forex anyway. You cannot have it all.

USD and JPY. The pairs are inline now. Soon there will be a big move.

GBPUSD. I BELIEVE I CAN FLY

Being the strongest of them all at the moment, GBPUSD is flying. This is the initial charge. Like many other breaks before, it will take a rest but not anytime soon. EURUSD is following close behind in term of strength. Maybe some of you didnt know, the EU actually broke the trend on the last spike before the break. AUDUSD is under par at the moment.

For JPY pair, mainly GBPJPY, EURJPY and AUDJPY they are still turning. Slowly moving up. For GJ this move is the 2nd try and it broke the resistance but there is a catch. JPY is not as weak as USD it seems. So shorting JPY may not be profitable as selling the USD. Eitherway, the resistance is being broken now, but in terms of strength, GBP is still under par. Anyone who wishes to try their luck on JPY pair can buy on the next pullback since its not that strong, the next pullback is coming very soon.

Btw, I only trade 2 currencies which are USD and JPY. In order to be profitable, I compare the strength of these 2 currencies with 3 other currencies GBP. USD and AUD. I monitor and trade only 6 pairs. They are GBPUSD, EURUSD, AUDUSD, GBPJPY, EURJPY and AUDJPY.

Did you know that when all 3 USD pairs broke the trend at once, there will be a huge move going to happen. So the next time you see the 3 planets are inline, watch out for the devil. Diablo is coming.

ITS NOT THE HOLLY GRAIL OF FOREX BUT ITS WORKING FINE

I am writing this to get some opinion. Let say that you have develop a system. It may not be the holly grail but you manage for forecast turn and correction most of the time. People kept on asking you to share it. They want you to teach them the secret. What would you do?

Back to trading. GBPUSD downwards movements is declining rapidly in strength. It may turn around and fly away for real but as you understand, it takes time to turn. Just sit back and watch. If you are in profit, advisable to get out now. GBP is the 1st choice for long position. Be it GBPUSD or GBPJPY. It is the strongest of the all.

ITS GOING UP BUT ITS NO SUPERMAN

As predicted last week, the pairs moved upwards but now its going to do some correction. A huge one if you ask me.

So rileks, enjoy the ride. It is going up but it is no superman. I pity those people who are currently trying to push it up right now.

FREE FOREX SIGNAL 9 OCTOBER 2008

Previous signal of GBPUSD and USDCHF still holds. Eventhough GBPUSD decided to do one more move down, it has exhausted all its strength.

Trade of the week belongs to AUDUSD.
Believe it or not, the weakened AUD has grown strongest of them all. It will have huge move upward in weeks to come. My advise it to long AUDUSD at the best entry you can find. AUDUSD is expected to make a move down in the next few hours. Be ready with your entry. The last low of 0.6445 is your benchmark. Do find your entry around there.

Another strong turner.
GBPJPY is a strong turner. It is the 2nd strongest of them all. Take your long entry on the next low and hold for weeks to come. I forecast a move upward that will take at least 2 weeks and pip of thousands.

I do not give exact entry point coz both pair have overshot the weekly level. Take you entry based on last low and good luck to us all.

USDCHF HAS TURNED.

As of writing, USDCHF has broken the trend. It should go down soon but now its ranging. Your entry should be somewhere around the last high. As for me I will be looking at 1.1460 level.

Good luck

GBPUSD HAS TURNED BUT WE STILL HAVE TIME

It seems that GBPUSD has turned, but we still have time. I manage to snatch 80pip and get out. At the moment I am no longer holding any post. The signal as follows

Long GBPUSD @ 1.7440 or better
SL = 50pip. Try to find the best entry possible. It is in ranging phase now
TP = 100 pip or more or hold till I tell you to close

AUDUSD 0.7220

EURUSD 1.3475

Good luck is the brutal world of forex

USD2000 IN 2 WEEKS

This was an article I posted last year. I took it down due to some agreement between me and Henry Carol. It seems that he forgot about it and forgot to fill his end of the bargain. Furthermore I notice his website claims profit of 1420pips on March this year. Kind of hard to believe if you are in my position. Keep on reading on the original article and maybe you can understand why is it hard to believe for me. Hopefully this article can give you some ideas on what is going on.

Lately I found myself having very little time to trade. On August 07 I only traded for 3 days due to my day job requires me to travel alot. So I look around the internet for an account manager. After looking around I've decided to let someone whom I once bought signal from to manage my account. Below are his details.

YM name = double88forex aka Henrycarol
Real Name = Leong Tian Su
Maybank A/C Number = 108011745015
Phone Number = +6017 888 0963
Website = http://www.profitpips.com/

He is an IB for Northfinance.com, meaning that anyone who open an account under him will entitle him for commision based on trading volume. The more you trade the more he earns.



After showing some impressive account statements, and promise for a target return of 50% a month I finally handed over the account to him. You can click on the picture to see the result of his trade. It is pretty impressive to see what he can do with USD2k in 2 weeks time.

As you can see he totally lost it in 2 weeks time. After he lost it, he just say that he is being reckless and asked me to fund the account again so that he can trade again. What you guys think I should do?

Money I have and money I can find, but the hardest thing to find is responsibility and friendship. You will be surprised at how easy it it a human can be bought by money. You guys might say USD2000 (RM7000) is a lot of money to lose but know this, I have lost more money to people whom I know as friends. These 5 years I have friends that borrow money from me for a total of RM12,000 and I have never seen the money back. Once they have got the money they will just avoid meeting me.

This is a sad story of how I lose my spending money. I hope that all of you out there can be cautious about who you give your money to be it online or offline. This is because once a friend borrowed money from you and he decided to split you will lose money and friendship. They just dont understand that all the power and money in the world counts for absolutely nothing when you are alone. Which is it that you want? More money or more friends?

Anyway back to trading, fasting month is a month of rest for me. I can spend more time in the office so I have time to trade. Last week I gain 10.99% of my account. Hopefully I can maintain that till end of the month. Happy trading everyone.

UPDATE:

I forgot to mention one thing. On top of the USD2000 there was also a setup fee of RM300. I totally forgot about it and that is why I didnt mention it on the above post.

After I posted this story, Henry Carol contact me again via YM with an offer. Take down this story and he will return me the setup fee of RM300. What you guys think?? Good offer or not?

Good Trade so far

Its been a good week. Last week I posted signal for UJ and GU. I was hoping UJ to make the move but instead GU has done it. Over 1000 pip move. UJ is undecided due to the US economic situation and the 700b bailout plan.

At the moment I have closed all post. GU and GJ is making the strongest move of turning but it wont turn just yet. If you are used to these type of market you will understand that it will take time. So next week hopefully all goes well and a trade signal will come up.

Looking at the chart GJ is closer to breaking the trend compared to GU while AU is going flat now. The rest is slowing down except UJ. I dont know where its going.

Happy trading and see you next week. Hopefully :)

FREE FOREX SIGNAL 23 SEPTEMBER 2008

Last signal of AudUsd failed. AU decided to turn the trend with a single move. Currently working on a short term system. Now I know its really hard, to trade short term but always trade with fixed amount of SL in order to control your loss.

Long UsdJpy @ 105.20 or better
SL = 50 pip
TP = will inform later.

EU and GU is currently in uptrend mode with EU being the strongest of the two. Correction is coming. Its better to short GU at 1.8622 or better. You have to calculate the risk yourself.

FREE FOREX SIGNAL 19 SEPTEMBER 2008

AudUsd has made a double top level 3 (thats what I called it). signal should be as follows

Short AudUsd @ 0.8074 or better
SL = 50 pips
TP = will inform later (Its a moving target)

BASELINE TRADER: INTRODUCTION

There are many ways to make money in Forex, not to forget there are a million ways to lose money in Forex market. Its an open market design for open competition. Only the smartest will survive.

A little something about Baseline Trader. I have spend more than 2 years looking at charts. I am looking at charts through technical aspect. Meaning, there must be some logical explanation why forex behave the way it is. Looking thru the naked eyes, forex market is unpredictable, wild and hungry. Its like a tsunami wave, destroying everything in its path but then there are wave surfers who make a living out of surfing waves. How is that possible?

Baseline Trader will be based on Fibonacci numbers. Believe or not, Fibonacci is a wonderful mathematical calculation. In the chart there will be short term and long term trade, fib levels, entry and exit, sl level all bunch up in a single chart. Sounds too much but believe me, once you know how to read it, one glance and you know where you are going to be. It is design to be simple yet precise. If you read the chart right, you will always be with the trend and you will always know your exit.

Below is a chart of GJ trade which I took. I like to share with you the chart since willcare is giving signal in the opposite direction. My entry and exit point is based on Fib levels. In the chart the level is not shown since Marketiva doesnt have the indicator available. My full chart is on MT4. Btw, I missed my entry so I will not trade GJ for now. My entry is exactly on the black line.

Baseline Trader

Its been a long time since posted. On 16 July 2008 that is my birthday, a friend of mine call me up and gave me a birthday present. He said that I should short GBP/USD no matter what. Guess what, till today GU has moved down 2500 pips. Talk about a good birthday present. Thanks Abbas.

I will be posting a short term trading strategy soon. I called it Baseline Trader. It is a short term trade strategy couple with a good money management will give you good result. It is because the high win trade ratio.

In the mean time just sit back and enjoy my birthday present

USDCAD: TOO MUCH, TOO FAST

Last nite usdcad fall too much and too fast. Is is unexpected. As usual when a pair move too much and too fast, it will lose it balance. As a result, usdcad maybe entering swinging mode for a few days. It doesnt really has direction. It will just goes up and down waiting for it to balance out before a new trend continue.

I am still holding usdcad short for now but in the long run it is not profitable. I will exit soon and wait for the equilibrium of the pair.

FREE FOREX SIGNAL 26/08/2008

Market is swinging here and there but I think its going to settle into a trend soon. Here it goes. Trade with cautions

Short USDCAD @ 1.0550 or better

Long AUDUSD @ 0.8500 or better

The idea of how to be in profit in forex is to have a good system. A system with accuracy of about 80% or better. Then you take trade using a fixed risk. Meaning all your trade have a fixed value of SL but unlimited value of TP. In the long run you will be able to profit since the accuracy is over 80%

FREE CALLS USING VOIP IN MALAYSIA

Its monday and forex is moving slowly at the moment though the direction is clear. Trade to the direction and take profit at will. Enter again only to the direction.

Off topic for a while, I just wanted to share with you a new way to call and best thing is call for free. There are a lot of program that will allow you to call over the internet for free. Some of them are Skype, Gizmo, Fring etc. What I am going to tell you today is how to make free call using Gizmo.

In short gizmo is a pc and phone application that will allow you to make free call using the internet through GPRS, EDGE, 3G or WIFI. If you have a phone that is capable of WIFI connection, then you can install this software on the phone and make free calls to using WIFI network that is available mostly everywhere.

Why I choose Gizmo. Its because Gizmo is currently supported by Nokia Beta Labs. The installer is available and implemented directly into Nokia Phonebook. You may find the installer here.

Apart from that, there is also a desktop version which you can make free PC to PC calls. Download it and install to PC. There is also ALL CALL FREE which you can read at the gizmo website.

Go ahead install and leave your username here so that we can call each other for free

FREE FOREX SIGNAL 15 AUGUST 2008

Trade at your own risk. Manage your position properly

Long AudUsd @ 0.8700 or better

FREE FOREX SIGNAL 14 AUGUST 2008

Last week signal all lost. All hit SL and stop trading. Today a new signal emerge.

Short UsdCad @ 1.0650 or better

FREE FOREX SIGNAL 5 AUGUST 2008

As usual, Forex doesnt move in a straight line. No matter how strong, how fast, correction is inevitable.

Last week signal has resulted a stop for EU and Uchf. Ucad is still climbing from my entry point. This week a few pairs has reached its peak/bottom. Trade at your own risk

Long AudUsd @ 0.9265 or better

Long GbpUsd @ 1.9600 or better (High risk)

Trade at your own risk. Manage your position properly.

CELCOM 3G TWEAK

Market is closed so nothing to see and nothing to do. I will post today how to tweak Celcom 3G so that you can get maximum speed from HSPDA.

PC Setting

1st part is pc setting. You have to max out every setting at you pc for the Nokia Modem. Get to the properties of your modem be it a phone or dedicated modem. This is how my pc setting for the Nokia N95 modem.




That is the pc part. Some people say it is not important since the driver will determine the com speed but I do it anyway just to make sure all speed is max out. Next is the important thing that is the phone setting.


Phone Setting






Get into your phone menu and change the network setting to UMTS only but in order to do this u must make sure there is a strong enough 3G signal. This forces the modem to use UMTS or HSDPA mode. At the moment max download speed for HSDPA is 7.2 Mb. So in theory 2 Mb is a piece of cake.

That is the setting i use to tweak my celcom 3g using Nokia N95 as modem. Simple but effective. Highest download speed recorded is around 2Mb but as we know, Celcom 3G isnt at is best now. Sometimes when the network is bad I couldnt even log in. Considering the speed and mobility, Celcom 3G is going to kick screamyx ass for sure. Dont you think?

CELCOM 3G IS FAST AND FURIOUS

Last time I used to complain about Celcom 3G speed. Well it seems there is a way to make Celcom 3G fly. With a little tweaking you can achieve the same result and more.This is a recorded speed of my daily broadband unlimited with a cap speed of 384kbps. My max download speed is recorded at 2mbps. Anyone here wants the tweak?

FREE FOREX SIGNAL 1 AUGUST 2008

This is a signal that happens on 1st Friday of the month. As usual it is always high risk to trade this early. You may take the signal if you are up to the risk involve

Short USDCAD @ 1.0254 or better

Short USDCHF @ 1.0517 or better

Long EURUSD @ 1.5520 or better

Trade with caution. Btw my final performance for July 08 is as below after taking 3 more trades this week.

TAKE YOUR PROFIT AND RUN AWAY

As of writing, UsdChf is at its peek. It may go up again but I dont think there is much to go. It is time for any of you to take profit and run away. EU, GU, and AU is at the bottom and UChf is at the top.

I am currently holding UJ only @ 107.90. A long wait before it can profit since UChf is at turning point.

I am on my way home now, stop by a coffee shop and they have wifi here. Happy trading everyone.

STILL TRADING BUT NOT SERIOUSLY

Currently staying at Belmont Marco Polo. Room is ok but have wifi. Guess what, I brought my laptop along.

Early morning open the chart and couldnt resist looking at UsdJpy doing double top. Now shorting UsdJpy from 107.90.

At the moment EurUsd is also turning and will continue its journey down. Something to look for tomorrow morning. No signal for this week coz I am on holiday.

To all you guys out there, happy trading everyone and btw short GbpUsd on next high

PERFORMANCE JULY 2008

As of writing I have closed all position and I may not trade again for this month. Tomorrow morning I will be going to Tawau by road. It will take 8 hours of driving and will be in Tawau till the end of the month.

I hope all of you had a good month of trading this month. My system generated a total of 17 signal this month with accuracy of over 90%. Attached is my statement for this month. Feel free to study it.

FREE FOREX SIGNAL 23 JULY 2008

Last week signal for GU, EU, AU and Ucad is still holding. This week a short term trade signal is generated

Short Gbp/Jpy @ 213.90 or better

Trade with caution

MARKET REVIEW 21 JULY 2008

Its Monday again with Forex entering super slow motion. Last week position of UJ has been closed with 280 pips profit. Position of GU, EU, AU is still holding.

This week I will be looking to short Jpy pairs with no.1 choice of Gbp/Jpy. GJ is expected to reach last week high again and thats is where entry point begins. As of now I would short GJ @ 213.50 or better. Meaning you dont have to enter at the exact point, just watch the strength and enter when market is turning.

I will post signal later for confirmation. In the mean time go do something else. Its monday, no forex magic happens on monday.

FREE FOREX SIGNAL 15 JULY 2008

Finally, entry is here

Short AUDUSD @ 0.9720 or better

Short GBPUSD @ 1.9950 or better

Short EURUSD @ 1.5940 or better

Short GBPJPY @ 211.75 or better (Same signal as last week)

Another entry has present itself

Long USDJPY @ 104.00 or better. Closed @ 106.80

At the moment these are the best possible entry. Need I remind you that my style is for me to take top and bottom. This style may not suit some of you. Trade according to your own style and margin. Manage your money and risk properly.

Update: Entry has been chosen




In case some of you are wondering. Here is my performance for this month up till today.

MARKET REVIEW 14 JULY 2008

Its Monday again with Forex entering super slow motion. Last week we saw a decline in USD despite double good news on friday. It is what I call pushing the market. Someone or a group of people with lots of money is pushing the market opposite of the direction of economic news. This sometimes happens and there is nothing we little fish can do about it but there is a good news. No matter how much you push, it will eventually follow its direction. Forex is an economic instrument afterall. It is influence by supply and demand as well as speculators.

Last week we saw Eur and Aud being the strogest of them all. As a result both has gain over Usd and Jpy making new high but the way I see it, it is a temporary move. The main move is for Usd and Jpy to go higher resulting a fall for Gbp, Eur and Aud being Gbp will be the most affected.

So this week I will be looking to short all Gbp/Usd, Eur/Usd, Aud/Usd, Gbp/Jpy, Eur/Jpy and Aud/Jpy. The question remains is the entry point. From my currenty view entry would somewhere around last week high.

Happy trading and remember to manage your risk at all time. If you are a scalper you may take entry on the downhill movement. As for me I will take top and bottom.

INTERNET CONNECTION IN MALAYSIA

Currently my Streamyx connection at home is making me sick. Everytime there is a change in temperature the line disconnect. I have done a lot of complaint to their customer service and nothing has been done to rectify the problem. At the moment no point complaining, nothing can be done to save Malaysia monopoli broadband company Streamyx by Telekom Malaysia.

As for celcom, I am currently using it everytime Streamyx fail, which is most of the time. Sorry to say, Celcom is not much better than Streamyx. Service is below satisfaction with data coming in at a very slow rate and is not constant.

Looks like I am going back to stone age here in Malaysia. With the current political warfare, dont know what will happen. Just can watch and see and pray.

This week is a good week for forex. Huge profit in the bag. Currently looking to short GU, Eu and AU. Entry point is already here but its friday. Better wait for next week for reentry. I will post reentry next week and hope for profit as this week.

Good luck to all of you

FREE FOREX SIGNAL 9 JULY 2008

Short Usd/Jpy @ 107.40 or better
Short Gbp/Jpy @ 211.75 or better

This may be a short term trading signal.

Previous signal still holding and in profit.

Update 11/07/08

Short Eur/Jpy @ 169.00 or better

All GU, EU and EU post closed. Looking for reentry point.

FREE FOREX SIGNAL 2 JULY 2008

Trade at your own risk

Short GU @ 1.9950 or better

Short EU @ 1.5800 or better

Update 3/07/08

Short AU @ 1.9600 or better

Update 9/07/08

GU closed all position
EU TP 1 post
AU TP 1 post
Direction stays but correction is coming. Time to manage your SL

Holiday In Kundasang

Its been a while since I update this blog. Been busy with work and decided to go on a holiday to Kundasang. If any of you dont know where Kundasang is, its in Sabah located at the foot of Mount Kinabalu. Enjoy :)

FREE FOREX SIGNAL 12 JUNE 2008

1. Short GBPCHF @ 2.0300 or better

2. Short USDJPY @ 107.00 or better

KEPADA RAKYAT MALAYSIA

Baru-baru ini, Malaysia telah digemparkan dengan pengumuman YAB Perdana Menteri berhubung kenaikan harga minyak sebanyak 78sen utk petrol dan RM1 untuk diesel. Kenaikan komoditi utama ini akan memberi kesan yang besar kepada rakyat Malaysia. Ini kerana dengan melonjaknya harga komoditi tersebut maka harga barangan lain juga akan turut naik. Ini adalah kesan dari tindakbalas ekonomi yang tidak dapat dielakkan oleh mana mana negara.

Sehubungan itu, timbul berbagai bagai komen, pendapat, idea dan tak kurang juga cacian dan makian yang timbul. Datangnya persoalan bagaimana rakyat Malaysia boleh mengatasi masalah ini. Terus terang cakap, ini baru permulaan. Kita harus berfikir lebih jauh lagi apabila stok minyak Malaysia telah habis dan kita akan turun menjadi pembeli. Pada masa itu keadaan kita akan jadi lebih parah lagi.

Oleh itu saya menyarankan kepada rakyat Malaysia agar berusaha mengurangkan penggantungan kepada subsidi. Rakyat Malaysia ni kalau bab bersukan atau belajar memang hancuss tapi bab subsidi tetap kekal juara. Kalau takde subsidi boleh mati. Dari lahir sampai mati memang ada subsidi kerajaan. Jadi kekallah orang Malaysia juara subsidi.

Untuk mengurangkan penggantungan kepada subsidi kerajaan, maka dicadangkan agar rakyat Malaysia berusaha menjana sumber pendapatan. Sesiapa saja kalau mengharap kepada satu sumber pendapatan maka, hidup tak susah dan tak juga senang tapi sekiranya anda mempunyai beberapa sumber pendapatan maka hidup akan lebih senang dan bahang kenaikan harga minyak tidak begitu dirasai.

Bukan apa, kenaikan harga minyak ni memang memeningkan kepala. Dipejabat bermacam reaksi ada. Sampai ada yang sanggup curi minyak syarikat dan isi dalam kereta sendiri. Sebagai pegawai yang bertanggungjawab menjaga kenderaan, kecurian itu diketahui cuma tidak sampai hati nak menjatuhkan maruah seseorang. Jadi orang itu teruslah berlakon seolah tidak ada kesalahan dan saya terus menerus melihat lakonan dia. Kesian. Curi minyak isi tangki penuh harga dalam RM50 tapi sekiranya kantoi kene buang kerja. Kerana RM50 sanggup gadaikan kerja yang bergaji tetap. Kebodohan manusia ni kadang kala tak masuk akal.

Dengan ini diharap rakyat Malaysia akan berusaha untuk menaikkan taraf dan kedudukan masing masing. Mencipta peluang dan pendapatan. Meningkatkan ilmu dan harga diri. Agar satu hari nanti kita akan ramai ramai pegi shopping di negara jiran dengan ayat " Barang kat sini murahlah ". Biar dia terasa lak yang nilai matawang mereka kecil.

Kepada para pemimpin, jalankan tugas dan atur strategi sebaiknya. Sebuah negara yang kaya dengan sumber tidak susah untuk ditadbir. Cuma perlukan kesungguhan, kepintaran dan kejujuran. Dimana harga diri seorang pemimpin sekiranya agenda utama adalah untuk membina kekayaan untuk diri sendiri dan kroni. Percayalah, lakonan anda itu lambat laun akan diketahui juga dan dimasa itu dimana nak diletakkan muka bila semuanya terbongkar tapi orang politik memang begitu kot. Bangsa yang takde malu punya.

FREE FOREX SIGNAL 9 JUN 2008

Sorry for long time no post. Been busy. As for this week there are a few trade opportunity but the market is uncertain now due to mixed NFP data and market sentiment.

These are signal based on technical study. Trade wisely and use stop loss appropriately.

Short GBPJPY @ 207.45 or better

Short NZDUSD @ 0.7710 or better

Thats it for today. GBPUSD and EURUSD may come up with an entry tomorrow. For the time being just relax and watch it

UNTUK MEREKA YANG MEMERLUKAN BANTUAN

Free Forex Signal 21 May 2008

Today is your entry day. Think nothing else but entry for AudUsd, NzdUsd and AudJpy. Its going to swing wild and may give you a few entry opportunity

Short AUDUSD @ 0.9574 or better

Short NZDUSD @ 0.7741 or better

Short AUDJPY @ 99.50 or better

For those of you still holding GBPUSD long, you have until tomorrow to take your profit. GU is heading into a slow down and only time will tell the next move.

Signal is getting close

Last signal of trade. All closed. Gbp is in an unhealthy condition. It swings too much causing it to hit SL before the full range is hit.

This week I will be looking at AudUsd, NzdUsd and AudJpy very close. Looking at things a new signal may appear tomorrow. For today, its time to rilex.

NZDUSD, YOU MAKE MY HEART BEAT FASTER

This morning we have a couple of big news for NZDUSD and guess what. Its a bad situation. Currently I am holding long post at a loss. These things happen a lot where technically NU is ready to turn but due to economic news it continue to slip down.

Hopefully the drop is not by much since its already in an oversold condition. So I will continue to hold the loss position and hoping for a positive move soon. It may be next week since the news effect really delay things.

For EURAUD, it has enter the overbought condition. Technically it should turn somewhere soon. For today entry for short is at 1.6619. It is an estimation which is hard to do since this pair has a very wide spread and agresive movement.

CREATIVITY

I was doing my day job and suddenly Ive got an idea on how to make a poster to promote a certain product. Using publisher I manage to create this small poster in 15 minutes and I must say, I am very pleased with the result. Just wanted to know what you think of it



Btw, EurAud is coming to its peak. Anyone care to trade???

FREE FOREX SIGNAL 13 MAY 2008

GbpUsd
Long GbpUsd @ 1.9450 or better
SL This is the hard part. Figure it out yourself

EurGbp
Short EurGbp @ 0.7950 or better
SL on your own

EurGbp has just reach its peak. Now it is entering ranging zone. So we could see a few swing before a new trend emerge. Furthermore it may make a new high. The entry that Ive given is based on current time.

GbpUsd has been swinging for the past few days and has hold its low. If it failed to break the last low, it will have to make it way up. Hopefully

Happy trading and good luck to us all

Back To Trading

Its been a week. I can barely trade coz Celcom 3G Internet is slow as hell. Now I am back home so time for some serious trading.

The last 2 signal of GbpChf and EurGbp has given some profit. Its time to exit untill a new signal is generated. This is because in long term trend is the opposite of the signal Ive given.

I will post signal next week when the market open to avoid holding -ve post due to trend continuation. See you next week

FREE FOREX SIGNAL 2 MAY 2008

Its Friday so it is a bit late to be giving signal but sometimes things take very long time to settle down and give clear direction

Short GBPCHF @ 2.0700 or better
SL @ 2.0775
TP 2.0566, 2.0506, 2.0414

Long EurGbp @ 0.7830 or better
SL 0.7796
TP 0.7865, 0.7883, 0.7910

Happy trading.

MONDAY MORNING FOREX BLUES

EurUsd
EU has turned up this morning but it is not adviseable to enter just yet. There are 2 places to enter EU, they are 1.5620 or 1.5520. Possible safe trade is to wait for EU to go lower than 1.5620 and make a stop order long @ 1.5620. It that way if EU actually goes up it will hit the stop order on its way up and hopefully a zero SL trade.

NzdUsd
NU is much like EU has turned up. Possible trade is long @ 0.7825. Wait for price to go lower and put a stop order long.

GbpChf
GChf has turned down. Currently not in a clear downward move. 2.0530 is entry for short. Preferably wait for price to exceed that level and put stop order short.

LOUSY STREAMYX. TMNUTS

Ive been using Streamyx for over 2 years now. All I can say is look at what monopoly has done to us.



At the moment I am surfing at 32 kbps. That is blistering fast or is it? Currently my streamyx speed is slower than a dial up modem. Talk about super fast broadband. How lousy can you get??

FREE FOREX SIGNAL 21 APRIL 2008

Short AudUsd @ 0.9400 or better
SL 30 pip
TP 0.9335, 0.9280 or wait for close signal

For the time being, that the best entry. Will update later. Earlier signal of UJ and EJ at a loss. Signal is given too early.

FREE FOREX SIGNAL 18 APRIL 2008

Here goes:

Short USDJPY @ 102.60 better
SL 25 pip from entry
TP 102.20, 101.50, 101.10

Short EURJPY @ 163.10 or better
SL 50 pip
TP 161.70, 161.00, 159,70

Thats it. Remember to get the best possible entry and always use SL

MARKET IS UNDECIDED

At the moment market has no clear direction. For the past 6 days it has been running on ranging mode at the moment the price is in a squeeze. I have to take exit step in order to avoid break out panic. I am trying to close all my post and in order to do that, I have to take some loss.

It is unavoidable in these market situation. For those of you who has been following my signal, most probably you are making some profit but in the end, like me you will have to give some back.

At the moment it is adviseable to stay aside until a clear direction present itself. Happy trading everyone.

So far so good.

This is a screenshot of my live account performance at marketiva. I have to hide some data but what available is enough to show that I am having a good trade so far.



It was taken today. Hopefully things will improve further and I am ready for the big trade. After all I am almost at my 2 year mark.

Slow and Steady she goes

At the moment EurGbp is at 0.7983. It has turn down and slowly gathering momentum to continue its journey down hill. Anyone care to join the journey? Its a slow and steady journey if you follow EG.

GU has turned up. Unlike EG, GU is full of swing and spikes. Those swing and spikes will kill those who do not ready for it. Trade carefully but trade up hill.

GJ aslo has turned up and like GU it has even nasty swing and spikes. At the moment I fear that GJ will has one more swing down before making its way up again. Trade carefully but trade up hill.

GbpChf also turned up hill. Just follow it but beware of swings and spikes. All Gbp pairs have them.

Free Forex Signal 8 April 2008

Here goes, what ever you do, manage your position and use SL properly.

Short Audusd @ 0.9300 or better
SL 25 pip

Short NzdUsd @ 0.8000 or better
SL 20 pip

Happy trading.

Who is Willcare??

In the world of Forex, Willcare is a name known to few. I just heard his name this week. He is going to run a seminar on forex this weekend in Sabah. A few friends asked me if I can find out anything about him.

After searching the internet, I found nothing on his trade method. No a single article or picture giving a view of his method. Some people say he is a millionare but for me its no surprise.

He charge RM1200.00 to attend his class and limits the number of students to 50 per class. Last month he ran 8 classes. Lets do the math shall we.

1200 X 50 X 8 = RM480,000.00
That is his income for last month. Do that 3 months and you are a sure millionaire. Simple and easy as abc - 123.

The logic is if you are a millionaire born out of forex why go to the trouble of going all over malaysia and teaching. Wouldnt it be easier just to trade. After all trading forex made you a millionaire.

If you are a millionaire born out of forex, why charge so high and making it available to everyone. Your system claims to have 300 - 500 pip a day. If you trade only 10% of your capital that is a return of 30% - 50% a day. Do the math for a month and you have 900% - 1500% a month return. Thats a lot of money no matter how you look at it. With that much money, why charge RM1,200.00 for the class or money is never enough. If money is never enough, then forex is a wrong place to start with let alone teaching it to someone else.

Anyway this is only my view on someone who claims to be a millionaire born out of trading forex. There are a few forex millionaire and none that I know of giving class with such a high price. I even had an offer from a forex millionaire to learn from him with the price of nothing. Just go see him and he will teach how to trade and be like him and pay nothing in return. Because the money I am going to pay him is nothing compared to what he has now.

Trade Opportunity

I will list trades that have good posibility of profit outcome. No matter how good the posibility, there is always risk involved. Manage your position and use SL appropriately.

Short UJ @ 102.60 or better
SL 45 pips from point of entry

Short GJ @ 205.00 or better
SL 80 pips from point of entry
Better get the entry right, that is one big SL

EU and GU has gone uptrend but still in ranging mode. Trade according to RSI

Tonight at 8:30pm (Malaysia time) there is the Nonfarm Employment Change. Beware.

Forex Mentor

A few friends asked me if I can teach them the proper way to trade. To be profitable and to stay profitable in the long run. I was thinking of publishing it here but some of them do not agree to the idea and suggest that I show them how I trade live in real time and for that reason, the article on how I trade now will not be fully published here. There will be one indicator excluded.

As for those who wish to learn from me, do contact me via my phone and suggest time and place for the class. All I asked is 2 hours of your time and some willingness to absorb the knowledge Im going to give.

It is possible to learn my trading method in 2 hours. It is 90% technical + 10% fundamental. 4 indicators only with total of 8 method to read it combined into 2 trading method to cover trending and ranging market.

All I asked in return is willingness and time to learn, maybe buy me some drinks or something. You cannot expect me to talk for 2 hours without drinks. So find a good place with wifi, bring your laptops and notebooks, spare 2 hours and dont forget to buy me drinks.

BACK TO BASIC - THE TALE OF CANDLESTICK

Candlestick is a method of reading the market based on pattern. If you search the net which I suggest you do, you will find a lot article on candlestick pattern. Do your reading to understand it and what happen to the price that forces a certain pattern to the candlestick. What type of pattern you need to remember and how to use it. I personally only remember 3 types of pattern. They are doji, hammer and engulfing pattern.

What I am going to tell you today is a different story about candlestick. A different way how to view them and how to use them. It may not be 100% accurate but it is enough to make profit and stay profitable in the long run.

Apart from 3 candlestick pattern which I remember, I see candlestick as a momentum indicator. Would it be nice if you can have 2 strategy from a single indicator? Like me I use 4 indicator and when they combine I have 8 strategy combined into 1. Candlestick, Moving Average, RSI and Stochastic all put on top of gridlines.

A DIFFERENT VIEW

Imagine that the price is an invisible, self propelling arrow. You cannot see it and surely you dont know where its going but when it moves, it leaves trails in the form of candlestick. If the arrow is moving too fast, we will see long candlestick. The arrow itself has momentum once it moved, so it will take time to slow down and turn. In short, a long CS indicates the arrow is moving very fast and will not turn soon but because forex is influences by many things we see the arrow just turn at certain point leaving CS pointing up or down here and there. Those CS that points up or down is a clue to where the arrow is going.

ALL TALK NO ACTION IS BORING

Now lets see some example, refer the last NzdUsd Hourly charts that I posted on Trade of The Day. Look at the drop when NU breaks the red line. Long candlestick pointing down. Meaning it is at full speed and will not stop. At the 1st correction, we can see that the lowest CS is a bull CS but because the bull CS is shorter than the previous CS, it dont have enough force to stop the arrow instead it only slowed it down. Then we can see all the next correction has bear CS pointing down including the last low CS is a bear meaning price will break the last low but it is slowing down. At this point, it is a very good idea to exit for us technical small fish else we may get fried during price swing.

According to NU charts, I forecast that NU will break the last low of 0.7834 and will make it way to 0.7800. This is because turing point usually happens at big numbers as the last turning point happens at 0.8100. My theory on this behaviour is that master traders that have lots of money are so busy counting money, they dont bother looking at price with small number at the back. So they focus on big numbers such as 0.8100, 0.7800 or the least 0.7850. Those 2 digit at the back is what we small fish are eating but they take the 1st 3 digit. How small and insignificant are we??

Market Preview Week 1 April

NzdUsd last week made a last minute drop. The drop was expected but the time it took to move is unexpected. Next week should be a clear direction to some pairs. I will post direction of pairs so that you can make your trade easier

NzdUsd
Last minute drop, at the moment its in downtrend mode. Still have some room to go down. Short NzdUsd based on candle stick pattern

UsChf
This is a slow and steady moving pair. At the moment on thin uptrend. Long UsdChf based on candlestick and grid lines. Do you know that if you monitor UsdChf you can actually catch EurUsd, GbpUsd, AudUsd and NzdUsd trade by going the opposite way.

EurJpy
Last minute drop last week has actually turned EJ from uptrend to downtrend. At the moment I got a short signal and based on grid it would be short @ 157.20 or better.

Good Luck and remember always trade to the direction of trend.

Forex News

For those of you who trade purely on technical study, you must avoid news hours. During news release, a different kind of traders will enter the market. They are aggressive, fast and well equip. They work in groups and using syndicate trading to force the market to their favour. They enter and leave the market in short period of time taking whatever profit they can. They do not stay in the market.

Compare to us technical small fish, these news traders are much bigger. In order to avoid getting fried, technical small fish must leave the arena when the news traders enter. In order to know when these news trader enter we must know when important news release are made and for that reason I use Forex Factory calendar.

Funny how people try to trade during news hour while I try to avoid them. Look at the calendar and understand when high impact news are released. Pay very close attention to red and orange icon.

Trade Of The Day

For today I will choose a slower pair to trade. It is my opinion that NZD/USD is a good pair to short. Based on grid trading, if anyone is reading the signal should be:

short NZD/USD @ 0.8065 or better
Stop loss @ 0.8090 (Minimum)
Take profit at each of the grid lines.

Btw that is my full trading chart. By the end of the lesson you will get ideas how to combine every trading method from each indicators and grid. Its not the system, its the people who use it.

Anyone here got the GJ drop?? I do :D

UPDATE



After a drop off over 200 pips it is my opinion to exit and stay aside. It is now beginning of a new month and first friday of the month holds too much surprise, too much for me anyway. As of now, I have exited all my position and plan to stay aside. If I do enter the market it would be based on RSI swing strategy. Fast in fast out, take what ever you can and stay out.

Back To Basic Part 1 - Lets Get Naked

When we are born in this world. We are all born naked. We do not carry money or bond certificate or even Rolex watches. All are born equal. It is what we do when we are growing up made us what we are today. Some are powerful men while others, just a waste of time.

When we start in Forex, most of us started at the same place. A blank chart with candlestick and grid. Simple and clear but because of greed, ambition etc, most of us jump straight to advance system. Advance system with colourful indicators here and there and through all those we forgot to pay attention to the very basic of Forex charts that is ..... PRICE.

THE NAKED TRUTH



What you see above is the very basic of forex charting. Its candlestick and grid. Plain and simple yet how many of you actually take a look at it and try to understand it. Not much in it yet not many people care to look at it and try to understand it. Let me lay this out one by one.

First we have the grid. Its the horizontal line with price at the right side. When we talk about forex, price is the most important thing...period. If Forex has no price then I wouldn't be here wasting my time for nothing. Its the soul purpose of trading forex. If you look at the chart closely, you will see that I have traded short with 2 take profit point of same place but at different time. You can also see where my stop loss and take profit was. That's why I love Marketiva charts. Its shows you everything.

The chart is divided by the grid with many horizontal line. Each horizontal line has its own price and the grid changes according to the market. If the market is active, the grid will become bigger and vice verse. If you look at the chart properly, you will see that the price actually responded to the grid. The price will move up and break the line one at a time during slow uptrend and break a few line at once during heavy trading. Now, the question is what can we do with that behaviour?

Let me explain to you my previous short trade. When and why I took the trade. I entered GJ short at 200.40 with 2 position and immediately put stop loss at 201.00. During my last entry the grid was at 200.40 and the top line was at 200.98. That is 58 pip grid wide. Meaning that my stop loss and take profit will be at 58 pip each. So I took the short trade at 200.40 with SL @ 201.00 (rounded numbers, easier to remember) with 1st TP @ 199.80 (rounded number to nearest line). My 1st TP was hit and closed 1 position. The 2nd position SL was moved to 200.41 and eventually 199.80 when price broke the next line.

Its all about numbers. 199.80, 200.40 and 201.00. What a coincidence. They are all 60 pips apart. Meaning 2 post win at 60 pip each, so far tonite I got 120 pip in the bag from grid trading alone. Currently I have a stop order to short GJ @ 200.60 and SL @ 201.00. Now that is 40 pip wide. What happen to 60 pips apart??? As I said before, the grid changes according to the market so pay attention. The stop order may not get hit but at the time of writing, the grid at 200.56 is already hit and missed my order by just a few pips.

I am sure by this time, some of you will have lots of question and doubt. Put all those question and doubt at rest and look at the naked chart. You may find that the hardest question may have the simplest answer. You just have to tackle the problem one at a time.

IT IS A RISKY BUSINESS

As of this morning, my stop order on GJ is filled. Currently GJ has already broke the 1st TP. SL will be move to 200.56 in due time. The plan currently is to follow the price at each level.



1st TP is broken if the current candle close below 200.14 and SL will be move to 200.56. When price broke the next level at 199.72, SL will be move again to 200.14 and so on. Moving the SL to the previous level each time price breaks a new level. That is the game plan. Btw, I am writing this in real time and this article will be updated from time to time until this chapter is finish.

I wont lie to you, Forex is a risky business. The risk is so great that every businessman will avoid it once they knew the level of risk involved. In order to be profitable in Forex you must control the risk and maximize the return. The only question is how much risk are you willing to take? As for me my risk tolerance is around 60 pip. So in order to find a trade that suit my risk, I would cycle through different chart and timeframe until I find a chart with grid small enough to suit my risk tolerance. Meaning this kind of trading doesnt require you to stick to any timeframe. Timeframe depends on the level of risk you are willing to trade. You can even trade GJ off weekly chart if you can stand the risk of 585 pips.

Current GJ position has initial risk of 40 pips only. If GJ decided to turn around and go the other way, I will surely lose 40 pips only but if GJ move according to plan, my minimum profit will be 40 pips. That is 1:1 risk/reward ratio. With the plan of following the price at previous level, I should get a better ratio than that. You cannot win everytime but make sure that when you win, you win big.

Back to Basic

In anything we do, when it comes to problem solving. We must go back to basic. We must understand the basic and solve the problem from basic and improvise in between.

When it comes to forex, we must do the same. Forex nowadays have become so complicated with advance platform, charting and indicators. We can easily become lost in all of that.

In order to understand it, we must look at it in the simplest way possible. Use the basic at it full extend and only after that we can advance to the next level.

In this few weeks I am going to post a simple system consisting of basic chart with no indicator at all. Only after we understand the basic will we add on indicators to improve the accuracy of trading. In the end we will have a few system combine into 1.

No matter how good a system is, it will all goes down to the trader. In order to learn something new, we must first change our self. It is by far the hardest part to do. It is where most traders fail.

Asean Committee for Disaster Management

Been a busy week. I am involve in the ACDM providing logistic and technical support. Hopefully everything will be over by end of this week. I am going to post a simple system for beginners. Its a simple system but requires good dicipline. See you later

Another piece of the puzzle

Previously RSI 8 was shown as possible reverse point. It needs more filter since on a trending market, price tends to continue following the trend.

The filter inserted is LWMA with the value of 8, 24, 48 and 192. Generally 8 and 24 gives the signal when it crosses and the rest is dynamic support and resistance. 8/24 cross should be inline with RSI8. Meaning when the cross happens, RSI8 value should be < 50.

If you see the chart, I entered 2 position based on RSI8 max. The price hovers above my entry point and at the end 8/24 cross + RSI8 <50. I enter another post. Guess what, my early entry is only 10 pips lower then after i got the signal. Hopefully next week EG will continue to drop.

BTW, I found that MV indicators are different from MT4 brokers. Its seems that MV indicators are much more accurate and less prone to whipshaw. Furthermore MV has the last piece of the puzzle which is not available on MT4 platform.

Maybe next time I will post the last piece.

Fuel Saver

This is a different topic, but it is one of my hobby. Its about cars.

Basically cars need 3 things to move that is fire, air and fuel. This 3 things combine gives the car power to move. If you want to optimize the car efficiency you need to work with this 3 things mainly.

When we talk about fire, the electrical system, fire from the spark plug is the element that make the fire. It must be working at its peek for the car to feel good.

For air is anything that requires air to move, exhaust system, air in the combustion chamber, air filter, tyre pressure etc.

Fuel, is petrol or diesel in the tank that feed into the engine.

Of all the 3 parts, fuel is the hardest part to optimize. We can always use bigger or better injector but the result is not very good in terms of fuel economy.

A car that is optimize should be powerfull and fuel economy at the same time.

Recently I found a device that optimize the fuel. Logically its a hard thing to do. Fuel in form of liquid and it optimize the fuel and maximize the burning process resulting in increase power and fuel economy.

I was sceptical at first but I bought it anyway. No harm trying with price tag of RM250.00. Put in on my car.

Test Subject:
The test subject is a small car. A kancil fitted with Daihatsu L2S engine. 660cc turbo charger automatic. This baby is so small and lightweight yet has so much power. It can go head to head with the latest honda civic 1.8 on drag race.

An old car with 4-AGE engine. The latest engine from the 4AG family of toyota. 1.6cc, extremely powerfull and super responsive compared to older version

Waja with 1.6cc engine automatic. One of the best Proton ever built. Engine power and road handling equivalent to many european cars. It is based on Lotus technology anyway. No surprise.

The Spec:
Daihatsu Mira TR-XX Turbo EFI 12 Valve Limited Edition L200S:
Engine ID : EF-JL
Engine Model : FMPX-S2(L200S)
Engine Type : Water Cooled,4 Stroke,Inline 3,SOHC 12 Valve Turbocharger,3 Cylinder
Bore x Stroke : Same
Fuel System : Multi-Point EFI(Electronic Fuel Injection) with ECU(Electronic Computerised Units)
Cubic : 659cc
Torque : 10.9kg at 3,600rpm
Hp : 64 at 6,400rpm
Boost Pressure : 0.8bar
Top Speed : 170km/h to 180km/h
Weight : 750kg
Spark Plags : Nippon Denso = QL22TR-S or NGK = BCPR7EKD
Turbocharger : IHI Turbocharger
Average Fuel Consumption: 6km/RM1

Test Result:
After installing the fuel saver. 1st tank of fuel gave me 7.4km/RM1. Thats a savings of about 12.3%. Not a big number but I must tell you, throttle respond is fast. Its like a cheetah waiting to be unleashed. Everytime I push the throttle, the car just jump away. Maybe thats why I dont have good fuel economy, I was driving like a maniac.

Btw I forgot to mention. The spec upthere is the standard spec. After a few modification, the car is transform from a car for grandmother to a racing car. 0-100kmh in less than 10 seconds.

I will update on the other 2 cars later. At the moment Im still crazy with the throthle respond and jumping away everytime I wanted.

Update:

All cars reported to have increase in HP. Fuel savings is at minimum ranging from 10% - 30% but the power increase is enough to justify the price. For RM250 there is a huge upgrade to vehicle power. Do you like it if your car can do 0 - 100 in 10 seconds. I love every second of it.

A Piece Of the Puzzle

By this April, I would have spend 2 years studying forex. By far this is the hardest thing to understand. Compare to a pc, I learned to assemble a pc and isntall windows in only one day, learned to install car sound system in 3 hours. Forex 2 years is like just waking up from sleep and still in bed. Thats is to compare how hard forex is. If anyone out there tells you forex is easy, then he never traded before. Btw, the title of the blog is just of SEO.

Forex is very difficult to understand. What we can do to survive is to come up with a plan. A plan is based on behaviour pattern. At certain condition, the market will behave the same way most of the time. Today I will show you a piece of a puzzle showing that forex market behave the same most of the time at certain condition. If you can anticipate its behaviour, I am sure you can make money of it.



This a 4 hour chart of Gbp/Usd. The yellow circle indicates where RSI 8 crossed below 22 or above 78. 6 out of 7 times, whenever RSI crossed the extreme level, it will retrace big enough to gain profit. Only once the price remain the same. Currently RSI is at extreme level, so a drop is expected next week. A behaviour if can be anticipated can bring profit. Use it wisely.