Forex Review Week 2nd August

GbpUsd/EurUsd
Last week GbpUsd/EurUsd made a last minute break. Next week we should see GbpUsd/EurUsd continue its uptrend. Take long position from now on.

GbpJpy/EurJpy
GJ and EJ didn't break it last week. Eventhough it is going down now, we should see 238.40 and 162.00 level are hard to break. If those level break, be prepared for a long downtrend.

Last week is not a good week to trade, there is no real trend as the market is swinging and ranging everwhere. Hopefully next week we should see a real trend and trend traders will make it a good trade.

What Forex Taught Me

In my 1 year of trading forex I have learnt a lot about forex. There are some qualities that is needed in a traders. From my experience these are some of them:

1. No Ego
Ego is when you dont want to admit that you have made a mistake. In forex, mistakes are common. It is very hard to forecast something that has a lot of factors involve. If you have made a mistake, admit it and turn your position if you see fit. If you dont want to admit your mistakes, you will end up broke

2. The Future is unknown
That is the truth the hard truth. Unless you can see the future like the movie next we are all the same. There are some people with skills that can forecast the movement of forex and make money but the truth is, its too high of a risk. Better to trade based on price action

Forex Review Week 4 July 2007

As predicted earlier in Forex Review last week, all according to prediction. EU and GU have hit the price prediction. All JPY pair went straight down from the starting of the week.

Now next week prediction. GbpUsd and EurUsd is at full down force now. Next week we should see it continue to go down. I forecast 2.0185 as the border line for GbpUsd and 1.3627 for EurUsd. If borderline is broken it would swing around it before continue to go down.

As for JPY pair it will continue to fall. Currently at full down but watch out for sign of reversal when it starting to make new high on the 30m chart.

Happy trading all

Forex Trade 28 July 2008

Final trade of the week. All closed now. Time for holiday. Happy trading everyone

Free Forex Signal 26 July 2007

Long EurUsd @ 1.3721 or better
SL = 1.3685
Target = 1.3778, 1.3869

Forex Trade 24 July 2007

Yesterday was a good day. All 4 position won with a total profit of 145 pips. As for today the market is a bit jumpy and very difficult to judge. Anyway I have open a few live position which is consider to have high probability of profit.





There are live and virtual position. The live have bigger chance of success and I advise to follow only live position. Unfortunately for me, Ive made a mistake in GbpJpy entry. Really stupid when you yourself set the rules and you break it. The result is up to -40 pip and still holding. Hopefully the trade is correct and I will close it maybe tonight.

Update:
Not a good day after all. Manage to get +45 pips. The trade was all correct but confident level and SL isnt good. Anyway profit so far for this week up to 190pip

Forex Trade 23 July 2007

Today is a good day to trade. I still have 2 position open which I will put stop loss later.




Total Trade Closed = +45 pip
Reason Closed = When you trade more than 50% of your capital its called stealing. When you are stealing, take what you can and leave. Dont get caught by the market.

Trade Still Open = +90 pip

Possible trade:

UsdCad is looking good for a long entry @ 1.0430
EurUsd is looking good for a long entry @ 1.3812
UsdJpy is looking to short again? Weird ....

Update:
All position closed.